HBIO · CIK 0001123494 · FY2025 live · 2025-12-31

HARVARD BIOSCIENCE INC

DistressSEC 10-KClassic ZIndustrials10th percentile in Industrials · 430 names

View as

Model

Classic Z

FY2025

−4.16

Zone

Distress

Prior

—

Market DD

—

1y PD

—

−4.16

Z″ −10.45

−21.83.08+

Score −4.16 · distress below 1.80, grey to 2.99, safe at 3.00 and above.

Classic Z factor contributions

X1 Working capital / assets
Short-term liquidity versus the size of the balance sheet.
0.33
1.2 × = 0.39
X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−2.68
1.4 × = −3.75
X3 EBIT / assets
Operating return on assets. Highest weight in the original model.
−0.61
3.3 × = −2.00
X4 Book equity / liabilities
Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.
0.21
0.6 × = 0.12
X5 Sales / assets
Asset turnover — how much revenue the asset base supports.
1.08
1 × = 1.08

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

HARVARD BIOSCIENCE INC is on classic Z at −4.16 (distress) for FY2025, from an SEC 10-K. Retained earnings / assets is the line that sets the print. This is the first live year on the desk. No market tape loaded. Classic Z was fit on manufacturers; buybacks can send retained earnings negative at otherwise healthy issuers, and X4 is book equity, not market cap.

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 Classic Z scores · 10th percentile in Industrials.

KPI widgets

Current assets

$48M

Total assets

$80M

Current liabilities

$22M

Total liabilities

$66M

Working capital

$26M

Retained earnings

−$215M

EBIT

−$49M

Total sales

$87M

Book equity

$14M

Accession 0001171843-26-001548. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Classic Z is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 12 Sept 2026.