Xeris Biopharma Holdings, Inc.
XERS Healthcare Drug Manufacturers Specialty & Generic
Xeris Biopharma Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $291.8 million, up 43.7% from fiscal 2024. In the quarter to June 2026, revenue grew 28.7%, EPS fell 1,700.0%, free cash flow grew 8,403.1% and total debt rose 15.5%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
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Xeris Biopharma Holdings, Inc. (XERS) Altman Z-score
Xeris Biopharma Holdings, Inc.'s Altman Z-score for fiscal 2025 is 0.98, 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 | 0.98 | 2.51 |
| FY2024 | −1.53 | 0.27 |
| FY2023 | −1.80 | 0.16 |
| FY2022 | −1.96 | 0.32 |
| FY2021 | −2.29 | 0.35 |
| FY2020 | −2.63 | 2.38 |
| FY2019 | −5.01 | (5.83) |
| FY2018 | 0.81 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.34 | — | 0.41 | |
| Retained earnings / total assets | (1.75) | — | −2.45 | |
| EBIT / total assets | 0.06 | — | 0.21 | |
| Market value of equity / total liabilities | 3.41 | — | 2.04 | |
| Sales / total assets | 0.76 | — | 0.76 | |
| Altman Z-score | Distress zone | 0.98 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −2.99 | ||
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 |
|---|---|
| SUPN Supernus Pharmaceuticals, Inc. compare | 5.4× |
| ETON Eton Pharmaceuticals, Inc. compare | 3.6× |
| PAHC Phibro Animal Health Corporation compare | 2.9× |
| PBH Prestige Consumer Healthcare Inc. compare | 2.5× |
| ANIP ANI Pharmaceuticals, Inc. compare | 2.3× |
| BCRX BioCryst Pharmaceuticals, Inc. compare | 1.8× |
| XERS Xeris Biopharma Holdings, Inc. | 1.0× |
| PRGO Perrigo Company plc compare | −0.1× |
| ALVO Alvotech compare | −1.0× |
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