VSEE · CIK 0001864531 · FY2025 live · 2025-12-31
VSEE HEALTH, INC.
View as
Model
Z″
FY2025
−16.83
Zone
Distress
vs FY2024
+20.35
Market DD
—
1y PD
—
−16.83
Classic Z −6.14
Z″ −16.83 · 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.
−0.356.56 × = −2.31X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−3.683.26 × = −11.99X3 EBIT / assets
Operating return on assets. Highest weight in Z″.
−0.436.72 × = −2.87X4 Book equity / liabilities
Book equity versus the liability stack. Sales / assets is omitted so asset-light names are not punished for turnover.
0.321.05 × = 0.34
Five-year path
Z″ plus liquidity (working capital / assets) and earnings (EBIT / assets) over the last 2 annual filings.
Overview
rule-v1
VSEE HEALTH, INC. is on Z″ at −16.83 (distress) for FY2025, from an SEC 10-K. Retained earnings / assets is the line that sets the print. Versus FY2024 the live print is still distress (+20.35 from −37.18). 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 · 3rd percentile in Healthcare.
KPI widgets
Current assets
$8M
Total assets
$22M
Current liabilities
$16M
Total liabilities
$17M
Working capital
−$8M
Retained earnings
−$82M
EBIT
−$10M
Total sales
$15M
Book equity
$5M
Accession 0001185185-26-001202. 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.