NKTR · CIK 0000906709 · FY2025 live · 2025-12-31
NEKTAR THERAPEUTICS
View as
Model
Classic Z
FY2025
−19.03
Zone
Distress
Prior
—
Market DD
—
1y PD
—
−19.03
Z″ −41.60
Score −19.03 · 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.
0.761.2 × = 0.91X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
−13.411.4 × = −18.77X3 EBIT / assets
Operating return on assets. Highest weight in the original model.
−0.503.3 × = −1.65X4 Book equity / liabilities
Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.
0.470.6 × = 0.28X5 Sales / assets
Asset turnover — how much revenue the asset base supports.
0.201 × = 0.20
Five-year path
Need two annual 10-Ks to draw a path. The desk will pull this issuer’s filings.
Meridian Rank
9.55
0–100 · Classic Z family
Book standing
3
Year change
—
Market PD
—
O-score
27
Events on this name
Same published rows as Today.
No published events on this print.
Overview
rule-v1
NEKTAR THERAPEUTICS is on classic Z at −19.03 (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. X4 is book equity.
Book screen Distress; market PD —. Market PD has not been priced on this name.
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 · 6th percentile in Healthcare.
- ANIXDistressAnixa Biosciences Inc−19.00
- RVPHDistressREVIVA PHARMACEUTICALS HOLDINGS, INC.−19.07
- JAGXDistressJaguar Health, Inc.−19.09
- ACTUDistressACTUATE THERAPEUTICS, INC.−19.25
- JSPRDistressJasper Therapeutics, Inc.−19.33
- LFWDDistressLifeward Ltd.−18.73
- INKTDistressMiNK Therapeutics, Inc.−18.57
- SNOADistressSonoma Pharmaceuticals, Inc.−18.54
Filing line items
Current assets
$266M
Total assets
$280M
Current liabilities
$54M
Total liabilities
$191M
Working capital
$213M
Retained earnings
−$3.8B
EBIT
−$140M
Total sales
$55M
Book equity
$90M
Accession 0001193125-26-104547. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Classic Z is the live score. View as is a display overlay. X4 is book equity. Pulled 13 Sept 2026.