Market Cap : 46.27 M | Enterprise Value : 17.56 M | PE Ratio : At Loss | PB Ratio : 0.60 |
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Warning Sign:
OncoCyte has a Altman Z2-Score of -5.20, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
The zones of discrimination were as such:
When Altman Z2-Score <= 1.1, it is in Distress Zones.
When Altman Z2-Score >= 2.6, it is in Safe Zones.
When Altman Z2-Score is between 1.1 and 2.6, it is in Grey Zones.
The historical rank and industry rank for OncoCyte's Altman Z2-Score or its related term are showing as below:
During the past 9 years, OncoCyte's highest Altman Z2-Score was 9.03. The lowest was -32.68. And the median was -6.02.
The historical data trend for OncoCyte's Altman Z2-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Biotechnology subindustry, OncoCyte's Altman Z2-Score, along with its competitors' market caps and Altman Z2-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Biotechnology industry and Healthcare sector, OncoCyte's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where OncoCyte's Altman Z2-Score falls in comparison to its industry or sector. The grey bar indicates the Altman Z2-Score's extreme value range as defined by GuruFocus.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
Z2-Score, also known as Z"-Score is the Z-Score for non-manufacturing companies excluding property/financial companies.
OncoCyte's Altman Z2-Score for today is calculated with this formula:
Z | = | 6.56 | * | X1 | + | 3.26 | * | X2 | + | 6.72 | * | X3 | + | 1.05 | * | X4_2 |
= | 6.56 | * | 0.1505 | + | 3.26 | * | -1.3709 | + | 6.72 | * | -0.4042 | + | 1.05 | * | 0.9549 | |
= | -5.20 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency. GuruFocus does not calculate Altman Z2-Score when X4_2 value is 0.
Trailing Twelve Months (TTM) ended in Sep. 2022:
Total Assets was $157.34 Mil.
Total Current Assets was $36.64 Mil.
Total Current Liabilities was $12.95 Mil.
Retained Earnings was $-215.70 Mil.
Pre-Tax Income was -9.333 + -8.3 + -10.291 + -35.788 = $-63.71 Mil.
Interest Expense was -0.014 + -0.021 + -0.03 + -0.042 = $-0.11 Mil.
Total Liabilities was $80.49 Mil.
* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.
X1 | = | Working Capital | / | Total Assets |
= | (Total Current Assets - Total Current Liabilities) | / | Total Assets | |
= | (36.636 - 12.952) | / | 157.344 | |
= | 0.1505 |
X2 | = | Retained Earnings | / | Total Assets |
= | -215.698 | / | 157.344 | |
= | -1.3709 |
X3 | = | Earnings Before Interest and Taxes | / | Total Assets |
= | (Pre-Tax Income - Interest Expense) | / | Total Assets | |
= | (-63.712 - -0.107) | / | 157.344 | |
= | -0.4042 |
X4_2 | = | Net Worth | / | Total Liabilities |
= | (Total Stockholders Equity - Preferred Stock) | / | Total Liabilities | |
= | (76.857 - 0) | / | 80.487 | |
= | 0.9549 |
The zones of discrimination were as such:
Distress Zones - 1.1 < Grey Zones < 2.6 - Safe Zones
OncoCyte has a Altman Z2-Score of -5.20 indicating it is in Distress Zones.
The original Z-Score model was based on publicly traded manufacturing companies while the Z2-Score, also known as Z"-score can be used for any type of company excluding property/financial companies. Both Z-Score and Z2-Score describes the financial health of a company, and its likelihood of financial distress.
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4_2, Net Worth (Total Stockholders Equity - Preferred Stock)/Total Liabilities (NW/TL): it compares a company’s stock net worth with its total liabilities and can be used to assess the extent of its reliance on debt.
Read more about Altman Z2-Score, the original research on Z-Score and the additional research on Z2-Score.
Altman Z2-Score does not apply to financial companies.
Thank you for viewing the detailed overview of OncoCyte's Altman Z2-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Josh Riggs | officer: Interim CEO | 15 CUSHING, IRVINE CA 92618 |
Lou Silverman | director | |
James Yang Liu | officer: Controller, PAO | C/O ONCOCYTE CORPORATION, 15 CUSHING, IRVINE CA 92618 |
John Peter Gutfreund | director | C/O ONCOCYTE CORPORATION, 15 CUSHING, IRVINE CA 92618 |
Anish M. John | officer: SVP, Finance, and Interim CFO | C/O ONCOCYTE CORPORATION,, 15 CUSHING, IRVINE CA 92618 |
Pura Vida Investments, Llc | 10 percent owner | 512 W 22ND STREET, 7TH FLOOR, NEW YORK NY 10011 |
Efrem Kamen | 10 percent owner | C/O PURA VIDA INVESTMENTS, LLC, 512 W 22ND STREET, 7TH FLOOR, NEW YORK NY 10011 |
Gisela Paulsen | officer: Chief Operating Officer | 5505 ENDEAVOR LANE, MADISON WI 53719 |
Li Yu | officer: VP Cntrllr/Prncpl Acctng Offcr | 120 NEWPORT CENTER DRIVE., NEWPORT BEACH CA 92660 |
Jennifer L. Carter | director | C/O DFP SPONSOR LLC, 780 THIRD AVENUE, 37TH FLOOR, NEW YORK NY 10017 |
Douglas T. Ross | officer: Chief Medical Officer | 15 CUSHING, IRVINE CA 92618 |
Tony T Kalajian | officer: SVP-Chief Accounting Officer | 1010 ATLANTIC AVENUE, SUITE 102, ALAMEDA CA 94501 |
Melinda Griffith | director | 1010 ATLANTIC AVENUE, SUITE 102, ALAMEDA CA 94501 |
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