Energous Corporation
WATT Technology Communication Equipment
Energous Corporation’s revenue for fiscal 2025 (year ended December 2025) was $5.6 million, up 633.1% from fiscal 2024. In the quarter to June 2026, revenue grew 216.8%, EPS grew 77.9%, free cash flow fell 90.6% and total debt fell 12.3%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.
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Energous Corporation (WATT) Altman Z-score
Energous Corporation's Altman Z-score for fiscal 2025 is −34.25, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −34.25 | 129.01 |
| FY2024 | −163.26 | (128.58) |
| FY2023 | −34.68 | (23.24) |
| FY2022 | −11.45 | (11.79) |
| FY2021 | 0.35 | (1.98) |
| FY2020 | 2.32 | 15.94 |
| FY2019 | −13.62 | (16.93) |
| FY2018 | 3.31 | (39.34) |
| FY2017 | 42.65 | 24.37 |
| FY2016 | 18.28 | 4.78 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.70 | — | 0.84 | |
| Retained earnings / total assets | (24.49) | — | −34.29 | |
| EBIT / total assets | (0.60) | — | −1.97 | |
| Market value of equity / total liabilities | 1.40 | — | 0.84 | |
| Sales / total assets | 0.34 | — | 0.34 | |
| Altman Z-score | Distress zone | −34.25 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −76.20 | ||
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 |
|---|---|
| OCC Optical Cable Corporation compare | 3.8× |
| FKWL Franklin Wireless Corp. compare | 3.0× |
| AMPG AmpliTech Group, Inc. compare | 1.5× |
| BOSC B.O.S. Better Online Solutions compare | 1.1× |
| CMTL Comtech Telecommunications Corp. compare | 0.2× |
| AIRG Airgain, Inc. compare | −0.3× |
| INSG Inseego compare | −10.5× |
| UTSI UTStarcom Holdings Corp compare | −30.6× |
| WATT Energous Corporation | −34.3× |
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