Vox Royalty Corp.
VOXR Basic Materials Other Precious Metals & Mining
Vox Royalty Corp.’s revenue for fiscal 2025 (year ended December 2025) was $16.6 million, up 50.5% from fiscal 2024. In the quarter to June 2026, revenue grew 122.6%, EPS grew 3,389.5% and free cash flow grew 146.4%, each against the same quarter a year earlier. Dividend growth for five consecutive years, operating cash flow growth for five.
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Vox Royalty Corp. (VOXR) Altman Z-score
Vox Royalty Corp.'s Altman Z-score for fiscal 2025 is 9.56, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 9.56 | 1.42 |
| FY2024 | 8.14 | 0.80 |
| FY2023 | 7.34 | (1.48) |
| FY2022 | 8.82 | 0.54 |
| FY2021 | 8.28 | (19.79) |
| FY2020 | 28.07 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.06 | — | 0.07 | |
| Retained earnings / total assets | (0.23) | — | −0.32 | |
| EBIT / total assets | 0.01 | — | 0.04 | |
| Market value of equity / total liabilities | 16.06 | — | 9.63 | |
| Sales / total assets | 0.13 | — | 0.13 | |
| Altman Z-score | Safe zone | 9.56 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 6.60 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| MTA Metalla Royalty & Streaming Ltd. compare | 22.3× |
| ASM Avino Silver compare | 13.3× |
| VOXR Vox Royalty Corp. | 9.6× |
| ITRG Integra Resources Corp. compare | 4.4× |
| GORO Gold Resource Corporation compare | 3.1× |
| MUX McEwen Inc. compare | 0.3× |
| LODE Comstock Inc. compare | −2.4× |
| SLSR Solaris Resources Inc. compare | — |
| GRML Greenland Mines Ltd compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets