Xenon Pharmaceuticals Inc.
XENE Healthcare Biotechnology
Xenon Pharmaceuticals Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.5 million, down 20.5% from fiscal 2022. In the quarter to June 2026, revenue grew 100.7%, EPS fell 3.74% and free cash flow fell 48.6%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Xenon Pharmaceuticals Inc. (XENE) Altman Z-score
Xenon Pharmaceuticals Inc.'s Altman Z-score for fiscal 2025 is 37.76, 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 | 37.76 | (5.58) |
| FY2022 | 43.34 | 6.28 |
| FY2021 | 37.06 | 20.56 |
| FY2020 | 16.50 | 15.29 |
| FY2019 | 1.21 | 4.74 |
| FY2017 | −3.53 | (20.45) |
| FY2016 | 16.92 | (4.95) |
| FY2015 | 21.87 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.82 | — | 0.98 | |
| Retained earnings / total assets | (1.97) | — | −2.75 | |
| EBIT / total assets | (0.59) | — | −1.94 | |
| Market value of equity / total liabilities | 69.10 | — | 41.46 | |
| Sales / total assets | 0.01 | — | 0.01 | |
| Altman Z-score | Safe zone | 37.76 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 6.89 | ||
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 |
|---|---|
| XENE Xenon Pharmaceuticals Inc. | 37.8× |
| IDYA IDEAYA Biosciences, Inc. compare | 20.7× |
| DNLI Denali Therapeutics Inc. compare | 13.8× |
| TARS Tarsus Pharmaceuticals, Inc. compare | 9.5× |
| ACAD ACADIA Pharmaceuticals Inc. compare | 7.9× |
| ARQT Arcutis Biotherapeutics, Inc. compare | 7.0× |
| TLX Telix Pharmaceuticals Limited compare | 2.7× |
| VKTX Viking Therapeutics, Inc. compare | — |
| CELC Celcuity, Inc. 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