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The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Warning Sign:
Altman Z-score of -5.35 is in distress zone. This implies bankruptcy possibility in the next two years.
Novo Integrated Sciences has a Altman Z-Score of -5.36, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for Novo Integrated Sciences's Altman Z-Score or its related term are showing as below:
During the past 13 years, Novo Integrated Sciences's highest Altman Z-Score was 1007.24. The lowest was -1495.23. And the median was 0.67.
The historical data trend for Novo Integrated Sciences's Altman Z-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.
Novo Integrated Sciences Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Aug17 | Aug18 | Aug19 | Aug20 | Aug21 | Aug22 | Aug23 | |||||||||||
Altman Z-Score | Get a 7-Day Free Trial |
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8.57 | 8.83 | 1.09 | -2.21 | -1.88 |
Novo Integrated Sciences Quarterly Data | ||||||||||||||||||||
Aug19 | Nov19 | Feb20 | May20 | Aug20 | Nov20 | Feb21 | May21 | Aug21 | Nov21 | Feb22 | May22 | Aug22 | Nov22 | Feb23 | May23 | Aug23 | Nov23 | Feb24 | May24 | |
Altman Z-Score | Get a 7-Day Free Trial |
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-3.53 | -1.88 | -2.43 | -3.12 | -4.92 |
For the Medical Care Facilities subindustry, Novo Integrated Sciences's Altman Z-Score, along with its competitors' market caps and Altman Z-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 Healthcare Providers & Services industry and Healthcare sector, Novo Integrated Sciences's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Novo Integrated Sciences's Altman Z-Score falls into.
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.
Novo Integrated Sciences's Altman Z-Score for today is calculated with this formula:
Z | = | 1.2 | * | X1 | + | 1.4 | * | X2 | + | 3.3 | * | X3 | + | 0.6 | * | X4 | + | 1.0 | * | X5 |
= | 1.2 | * | -0.4675 | + | 1.4 | * | -2.4967 | + | 3.3 | * | -0.518 | + | 0.6 | * | 0.0411 | + | 1.0 | * | 0.3826 | |
= | -5.36 |
* 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 Z-Score when X4 or X5 value is 0.
Trailing Twelve Months (TTM) ended in May. 2024:
Total Assets was $35.33 Mil.
Total Current Assets was $6.16 Mil.
Total Current Liabilities was $22.68 Mil.
Retained Earnings was $-88.20 Mil.
Pre-Tax Income was -13.736 + -2.746 + -4.661 + -3.202 = $-24.35 Mil.
Interest Expense was -3.083 + -1.253 + -1.219 + -0.49 = $-6.05 Mil.
Revenue was 3.152 + 3.171 + 3.891 + 3.303 = $13.52 Mil.
Market Cap (Today) was $1.06 Mil.
Total Liabilities was $25.66 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 | |
= | (6.161 - 22.676) | / | 35.327 | |
= | -0.4675 |
X2 | = | Retained Earnings | / | Total Assets |
= | -88.201 | / | 35.327 | |
= | -2.4967 |
X3 | = | Earnings Before Interest and Taxes | / | Total Assets |
= | (Pre-Tax Income - Interest Expense) | / | Total Assets | |
= | (-24.345 - -6.045) | / | 35.327 | |
= | -0.518 |
X4 | = | Market Value Equity | / | Book Value of Total Liabilities |
= | Market Cap | / | Total Liabilities | |
= | 1.056 | / | 25.664 | |
= | 0.0411 |
X5 | = | Revenue | / | Total Assets |
= | 13.517 | / | 35.327 | |
= | 0.3826 |
The zones of discrimination were as such:
Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones
Novo Integrated Sciences has a Altman Z-Score of -5.36 indicating it is in Distress Zones.
Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.
Novo Integrated Sciences (OTCPK:NVOS) Altman Z-Score Explanation
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, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Read more about Altman Z-Score and the original research.
Be Aware
Altman Z-Score does not apply to financial companies.
Thank you for viewing the detailed overview of Novo Integrated Sciences's Altman Z-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Sarfaraz Ali | director | C/O NOVO INTEGRATED SCIENCES, INC.,, 11120 NE 2ND STREET, SUITE 100, BELLEVUE WA 98004 |
Robert Letterio Oliva | director | 115 BELFIELD RD, TORONTO A6 L0J 1C0 |
Sterling M. Jimenez | officer: Principal Financial Officer | C/O NOVO INTEGRATED SCIENCES, INC.,, 11120 NE 2ND STREET, SUITE 100, BELLEVUE WA 98004 |
Michael Ross Pope | director | 1045 PROGRESS CIRCLE, LAWRENCEVILLE, GEORGIA GA 30043 |
Alex Flesias | director | 41 LANDMARK COURT, UNIONVILLE A6 L3R 9N7 |
Michael Joseph Gaynor | director | 49 BALMORAL ST, KEMPTVILLE A6 K0G 1J0 |
Robert Mattacchione | director, 10 percent owner, officer: Chief Executive Officer | 79 SELVAPIANO CRES, WOODBRIDGE A6 L4H 0X1 |
Pierre Joseph Dalcourt | director, 10 percent owner | 35 BRYANT ST , BOX 2230, HEARST A6 P0L 1N0 |
Christopher Mehlin David | director, officer: President | 10425 SE 22ND ST., BELLEVUE WA 98004 |
Thomas Edward Bray | officer: Principal Financial Officer | C/O NOVO INTEGRATED SCIENCES, INC., 11120 NE 2ND STREET, SUITE 100, BELLEVUE WA 98004 |
Rebecca Aw Mcdonald | officer: Chief Accounting Officer | 1301 INTERNATIONAL SPEEDWAY BLVD., DELAND FL 32724 |
James Jr Teters | director | 1200 FLIGHTLINE BLVD, STE 5, DELAN FL 32724 |
Phyllis Rouse | officer: secretary | 1200 FLIGHLINE BLVD,, SUITE 5, DELAND FL 32724 |
Jay Hilden | officer: President & CEO | 1200 FLIGHLINE BLVD,, SUITE 5, DELAND FL 32724 |
Robert Adamo | director | 1200 FLIGHTLINE BOULEVARD, SUITE 5, DELAND FL 32724 |
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