PPTA · CIK 0001526243 · FY2025 live · 2025-12-31
PERPETUA RESOURCES CORP.
View as
Model
Z″
FY2025
57.26
Zone
Safe
vs FY2024
+61.41
Market DD
6.69σ
1y PD
<0.01%
57.26
Classic Z 31.03
Z″ 57.26 · 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.
0.846.56 × = 5.49X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−0.793.26 × = −2.58X3 EBIT / assets
Operating return on assets. Highest weight in Z″.
−0.156.72 × = −0.98X4 Book equity / liabilities
Book equity versus the liability stack. Sales / assets is omitted so asset-light names are not punished for turnover.
52.701.05 × = 55.34
Five-year path
Z″ plus liquidity (working capital / assets) and earnings (EBIT / assets) over the last 5 annual filings.
Overview
llm-v1
Trend
The multi-year Z″ path stayed deeply negative from FY2020 through FY2024 before a sharp inflection lifted the score into the safe zone. The latest FY2025 print of 57.26 confirms a decisive break from the prior distress trajectory and places the firm well above the safe threshold against that extended path.
Positioning
PPTA stands at the 99th percentile among 170 Energy names, far above the tape median of 1.62 and nearest to XPL, CKX, DC, IDR and VRDR on this screen.
Strategy
The print is set by the book-equity line relative to total liabilities. On the next 10-K a credit analyst would monitor the equity-to-liabilities ratio for any compression and track whether retained earnings become less negative, as a sustained rise in liabilities versus equity would weaken the rank while further equity cushion expansion would improve it.
Book screen Safe; market PD <0.01%. Treat as aligned — not a single default call.
Market DD · naive Merton
6.69σ
<0.01%1y PD
Market equity
$3.0B
Default point
$15M
Equity vol
75.0%
As of
11 Sept 2026
Naive distance-to-default from the Yahoo/Nasdaq tape. Drift is a 4% discount, not the stock’s sample mean. Not mixed into book-equity X4. An iterative Merton pass stayed in the same PD bucket.
Sector peers
Closest Z″ scores · 99th percentile in Energy.
KPI widgets
Current assets
$749M
Total assets
$878M
Current liabilities
$15M
Total liabilities
$16M
Working capital
$734M
Retained earnings
−$696M
EBIT
−$128M
Total sales
$0
Book equity
$861M
Accession 0001104659-26-037403. 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.