SPRU · CIK 0001772720 · FY2025 live · 2025-12-31
SPRUCE POWER HOLDING CORP
View as
Model
Z″
FY2025
−2.02
Zone
Distress
Prior
—
Market DD
—
1y PD
—
−2.02
Classic Z −0.46
Z″ −2.02 · 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.
−0.156.56 × = −0.96X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−0.423.26 × = −1.38X3 EBIT / assets
Operating return on assets. Highest weight in Z″.
0.026.72 × = 0.14X4 Book equity / liabilities
Book equity versus the liability stack. Sales / assets is omitted so asset-light names are not punished for turnover.
0.171.05 × = 0.18
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
SPRUCE POWER HOLDING CORP is on Z″ at −2.02 (distress) for FY2025, from an SEC 10-K. Retained earnings / assets is the line that sets the print; working capital / assets is the runner-up. 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 · 8th percentile in Utilities.
- CLNEDistressClean Energy Fuels Corp.−2.39
- QRHCDistressQuest Resource Holding Corp−2.50
- PESIDistressPERMA FIX ENVIRONMENTAL SERVICES INC−2.58
- HDRNDistressHadron Energy, Inc.−1.17
- HVIIDistressHennessy Capital Investment Corp. VII−1.16
- GFUZDistressGeneral Fusion Group Ltd.−1.03
- AROCDistressArchrock, Inc.−0.98
- BESSDistressBimergen Energy Corp−0.89
KPI widgets
Current assets
$116M
Total assets
$837M
Current liabilities
$239M
Total liabilities
$716M
Working capital
−$123M
Retained earnings
−$354M
EBIT
$18M
Total sales
$112M
Book equity
$121M
Accession 0001628280-26-022506. 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.