cbdMD, Inc.
YCBD Healthcare Drug Manufacturers Specialty & Generic
cbdMD, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $19.2 million, down 1.50% from fiscal 2024. In the quarter to June 2026, revenue grew 20.6%, EPS grew 47.6% and free cash flow grew 34.8%, each against the same quarter a year earlier.
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cbdMD, Inc. (YCBD) Altman Z-score
cbdMD, Inc.'s Altman Z-score for fiscal 2025 is −21.65, 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 | −21.65 | 1.74 |
| FY2024 | −23.39 | (5.66) |
| FY2023 | −17.74 | (8.39) |
| FY2022 | −9.35 | (11.80) |
| FY2021 | 2.45 | 1.35 |
| FY2020 | 1.10 | 1.35 |
| FY2019 | −0.25 | (17.01) |
| FY2018 | 16.76 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.32 | — | 0.39 | |
| Retained earnings / total assets | (17.22) | — | −24.11 | |
| EBIT / total assets | (0.21) | — | −0.68 | |
| Market value of equity / total liabilities | 1.52 | — | 0.91 | |
| Sales / total assets | 1.84 | — | 1.84 | |
| Altman Z-score | Distress zone | −21.65 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −53.04 | ||
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 |
|---|---|
| GELS Gelteq Limited compare | 0.4× |
| PRFX PainReform Ltd. compare | −7.9× |
| INM InMed Pharmaceuticals Inc. compare | −10.3× |
| SNOA Sonoma Pharmaceuticals, Inc. compare | −18.5× |
| YCBD cbdMD, Inc. | −21.7× |
| RDHL Redhill Biopharma Ltd. compare | −24.4× |
| BTAIQ BioXcel Therapeutics, Inc. compare | −26.3× |
| AKAN Akanda Corp. compare | −26.4× |
| APUS Apimeds Pharmaceuticals US, 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