XHLD · CIK 0002030954 · FY2025 live · 2025-12-31
TEN Holdings, Inc.
View as
Model
Z″
FY2025
−11.06
Zone
Distress
Prior
—
Market DD
—
1y PD
—
−11.06
Classic Z −5.30
Z″ −11.06 · 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.
0.266.56 × = 1.73X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−1.793.26 × = −5.84X3 EBIT / assets
Operating return on assets. Highest weight in Z″.
−1.126.72 × = −7.54X4 Book equity / liabilities
Book equity versus the liability stack. Sales / assets is omitted so asset-light names are not punished for turnover.
0.561.05 × = 0.58
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
TEN Holdings, Inc. is on Z″ at −11.06 (distress) for FY2025, from an SEC 10-K. EBIT / assets is the line that sets the print; retained earnings / 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 · 7th percentile in Industrials.
- ARAIDistressArrive AI Inc.−10.92
- SCORDistressCOMSCORE, INC.−11.22
- CIRCDistressCIRCLE8 GROUP INC−10.78
- STFSDistressStar Fashion Culture Holdings Ltd−10.59
- SPCEDistressVirgin Galactic Holdings, Inc−11.68
- PSQHDistressPSQ Holdings, Inc.−10.07
- NOTEDistressFiscalNote Holdings, Inc.−12.08
- SGLYDistressSingularity Future Technology Ltd.−12.32
KPI widgets
Current assets
$10M
Total assets
$12M
Current liabilities
$7M
Total liabilities
$8M
Working capital
$3M
Retained earnings
−$21M
EBIT
−$13M
Total sales
$3M
Book equity
$4M
Accession 0001493152-26-011249. 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.