Zentek Ltd.
ZTEKF Healthcare Medical Instruments & Supplies
Zentek Ltd.’s revenue for fiscal 2026 (year ended March 2026) was $120,200.00, down 80.8% from fiscal 2025. In the quarter to June 2026, revenue fell 95.4%, EPS was flat, free cash flow fell 254.6% and total debt rose 6.53%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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Zentek Ltd. (ZTEKF) Altman Z-score
Zentek Ltd.'s Altman Z-score for fiscal 2026 is −2.15, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | −2.15 | (20.32) |
| FY2025 | 18.17 | (15.98) |
| FY2024 | 34.15 | (5.16) |
| FY2023 | 39.31 | (19.88) |
| FY2022 | 59.19 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.08) | — | −0.10 | |
| Retained earnings / total assets | (6.05) | — | −8.47 | |
| EBIT / total assets | (0.73) | — | −2.40 | |
| Market value of equity / total liabilities | 14.68 | — | 8.81 | |
| Sales / total assets | 0.01 | — | 0.01 | |
| Altman Z-score | Distress zone | −2.15 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −23.20 | ||
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 |
|---|---|
| POCI Precision Optics Corp. compare | 0.6× |
| ZTEKF Zentek Ltd. | −2.1× |
| NEPH Nephros Inc. compare | −3.3× |
| HBIO Harvard Bioscience, Inc. compare | −4.0× |
| NYXH Nyxoah SA compare | −4.4× |
| STXS Stereotaxis Inc. compare | −12.4× |
| MBOT Microbot Medical Inc. compare | −19.4× |
| MLSS Milestone Scientific, Inc. compare | −22.1× |
| DXR Daxor Corporation 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