Bakkt, Inc. Altman Z-Score
BKKT|Modified Z-Score (book value) based on FY2025 data
Bakkt, Inc.'s Altman Z-Score of 7.91 places the company in the "safe zone" used by the Altman model (above 2.9) for FY2025.
Based on SEC 10-K filings.
Key Data Points
- Piotroski F-Score: 2/9 criteria passed
- Altman Z-Score 7.91 (safe zone, above 2.9 threshold)
- Accrual-heavy earnings: Net income significantly exceeds operating cash flow
Data sourced from SEC EDGAR filings. Not investment advice.
Safe Zone (> 2.9)
The score is above the 2.9 boundary used in the Altman model.
The Altman Z-Score uses 5 financial ratios. Learn more
Components: book value of equity, working capital, retained earnings, EBIT, and revenue-to-assets — all derived from SEC FY2025 10-K filings.
5-Factor Decomposition
Working Capital / Total Assets
- Ratio
- 0.241
- Weight
- 0.717
- Contribution
- 0.173
Retained Earnings / Total Assets
- Ratio
- -5.560
- Weight
- 0.847
- Contribution
- -4.710
EBIT / Total Assets
- Ratio
- -0.908
- Weight
- 3.107
- Contribution
- -2.822
Book Equity / Total Liabilities
- Ratio
- 2.255
- Weight
- 0.420
- Contribution
- 0.947
Revenue / Total Assets
- Ratio
- 14.345
- Weight
- 0.998
- Contribution
- 14.317
| Component | Ratio | Weight | Contribution |
|---|---|---|---|
| Working Capital / Total Assets | 0.241 | 0.717 | 0.173 |
| Retained Earnings / Total Assets | -5.560 | 0.847 | -4.710 |
| EBIT / Total Assets | -0.908 | 3.107 | -2.822 |
| Book Equity / Total Liabilities | 2.255 | 0.420 | 0.947 |
| Revenue / Total Assets | 14.345 | 0.998 | 14.317 |
| Total Z-Score | 7.91 | ||
As of FY2025 · SEC 10-K Annual Filings · Updated Jun 24, 2026
Z-Score Zones
Safe Zone - score above the 2.9 boundary used in the Altman model.
Grey Zone - score between the 1.23 and 2.9 boundaries used in the Altman model.
Distress Zone - score below the 1.23 boundary used in the Altman model.