SGRP · CIK 0001004989 · FY2025 live · 2025-12-31
SPAR Group, Inc.
View as
Model
Z″
FY2025
−4.77
Zone
Distress
Prior
—
Market DD
—
1y PD
—
−4.77
Classic Z −1.97
Z″ −4.77 · distress below 1.10, grey to 2.60, safe above.
Z″ factor contributions
X1 Working capital / assets
Short-term liquidity. Carries more weight in Z″ than in classic Z.
−0.146.56 × = −0.94X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−0.393.26 × = −1.27X3 EBIT / assets
Operating return on assets. Highest weight in Z″.
−0.386.72 × = −2.58X4 Book equity / liabilities
Book equity versus the liability stack. Sales / assets is omitted so asset-light names are not punished for turnover.
0.011.05 × = 0.02
Five-year path
Need two annual 10-Ks to draw a path. The desk will pull this issuer’s filings rather than invent a series.
Overview
rule-v1
SPAR Group, Inc. is on Z″ at −4.77 (distress) for FY2025, from an SEC 10-K. EBIT / assets is the line that sets the print. This is the first live year on the desk. No market tape loaded. Z″ drops sales/assets so asset-light names are not punished for turnover. X4 is book equity on every name.
Book screen Distress; market PD —. Tape not priced — not a single default call.
Market DD · naive Merton
No market tape yet.
Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.
Sector peers
Closest Z″ scores · 12th percentile in Industrials.
- ENGSDistressEnergys Group Ltd−4.72
- DFNSDistressT3 Defense Inc.−4.49
- BAERDistressBridger Aerospace Group Holdings, Inc.−5.08
- CURRDistressCurrenc Group Inc.−4.20
- ATLXDistressAtlas Lithium Corp−5.53
- CCODistressClear Channel Outdoor Holdings, Inc.−5.56
- KPLTDistressKatapult Holdings, Inc.−5.57
- PMADistressPMA Graphene Technology Group Inc.−3.66
KPI widgets
Current assets
$31M
Total assets
$44M
Current liabilities
$38M
Total liabilities
$43M
Working capital
−$6M
Retained earnings
−$17M
EBIT
−$17M
Total sales
$0
Book equity
$622K
Accession 0001437749-26-010508. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Z″ is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 12 Sept 2026.