SRZN · CIK 0001824893 · FY2025 live · 2025-12-31
Surrozen, Inc./DE
View as
Model
Classic Z
FY2025
−8.25
Zone
Distress
Prior
—
Market DD
—
1y PD
—
Meridian Rank
8.82
0–100 · Classic Z tape · not a PD
Book standing
11
Year change
—
Market PD
—
O-score
3
−8.25
Z″ −15.54
Score −8.25 · 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.
0.831.2 × = 0.99X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−5.341.4 × = −7.48X3 EBIT / assets
Operating return on assets. Highest weight in the original model.
−0.433.3 × = −1.41X4 Book equity / liabilities
Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.
−0.660.6 × = −0.39X5 Sales / assets
Asset turnover — how much revenue the asset base supports.
0.041 × = 0.04
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
Surrozen, Inc./DE is on classic Z at −8.25 (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 · 19th percentile in Healthcare.
- SCLXDistressScilex Holding Co−8.26
- AKTXDistressAkari Therapeutics Plc−8.23
- GUTSDistressFRACTYL HEALTH, INC.−8.31
- PYXSDistressPyxis Oncology, Inc.−8.16
- ACRSDistressAclaris Therapeutics, Inc.−8.38
- PRLDDistressPrelude Therapeutics Inc−8.11
- BCTXDistressBriaCell Therapeutics Corp.−8.08
- VRCADistressVerrica Pharmaceuticals Inc.−8.42
KPI widgets
Current assets
$92M
Total assets
$99M
Current liabilities
$10M
Total liabilities
$286M
Working capital
$82M
Retained earnings
−$527M
EBIT
−$42M
Total sales
$3M
Book equity
−$188M
Accession 0001193125-26-119818. 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 13 Sept 2026.