Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Azenta, Inc.AZTA · manufacturing | |
|---|---|
| Grade |  B/Con the B/C boundary of 255 graded peers; percentile 42.1, sampling error 3.0 points; lower is stronger |
| Rank | 108 of 255 |
| Profitability | Cpercentile 51.5 |
| Solvency | Bpercentile 23.6 |
| Growth and financing | C/Dpercentile 62.0 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $2.1B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | late filer · fortress balance sheet |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Dec 4, 2025309 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $36.002026-10-08; market equity $1.6B; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Dec 4, 2025; the document on sec.gov.
We are a leading global provider of biological and chemical compound sample exploration and management solutions for the life sciences industry. We entered the life sciences market in 2011, leveraging our in-house precision automation and cryogenics capabilities that we were then applying in the semiconductor manufacturing market. This led us to develop and provide solutions for automated ultra-cold storage. Since then, we have expanded our life sciences offerings through internal investments and through a series of acquisitions.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 51.5 | |||||||
| Gross profitability | 13.1% | [1,5] | 21.9% | 78.8 | 275 | 2025-09-30 | |
| Return on invested capital | not computable | 9.7% | |||||
| latest aligned inputs end 2021-09-30; latest annual assets end 2025-09-30 | |||||||
| Accruals ratio | not computable | (3.6%) | |||||
| prior assets observation is 92 days earlier | |||||||
| Gross margin stability, five years | 1.4 pts | [2,5-13] | 2.1 pts | 24.1 | 229 | 2025-09-30 | |
| Solvency, sleeve percentile 23.6 | |||||||
| Twelve-month failure probability | 0.04% | 0.04% | 30.3 | 34 | 2026-06-30 | ||
| Altman Z double-prime | 9.11 | [1,14-19] | 3.66 | 9.1 | 244 | 2025-09-30 | |
| Net debt to EBITDA | not computable | 1.78x | |||||
| EBITDA must exceed $100,000 | |||||||
| Interest coverage | not computable | 5.09x | |||||
| latest aligned inputs end 2022-09-30; latest annual assets end 2025-09-30 | |||||||
| Current ratio | 2.98x | [14-15] | 2.25x | 31.5 | 325 | 2025-09-30 | |
| Growth and financing, sleeve percentile 62.0 | |||||||
| Revenue growth, three-year compound | 2.2% | [2,7,9,11] | 2.1% | 49.3 | 269 | 2025-09-30 | |
| Free cash flow growth, three-year compound | not computable | 13.9% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 26.4% | |||||
| prior working capital is not one fiscal year earlier | |||||||
| Asset growth, three years | not computable | 4.4% | |||||
| four consecutive annual observations are required | |||||||
| Net share issuance, one year | 0.9% | [20-21] | 0.01% | 74.8 | 243 | 2025-12-01 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.079; sampling error 3.0 percentile points on 255 peers.
Among 255 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 103 | Virco MFG Corporation (VIRC) Virco MFG Corporation (VIRC) B/Con the B/C boundary; percentile 40.2 Nasdaq · Public Bldg & Related Furniture market equity $102.5M; last close $6.53 Warnings: fortress balance sheet; 10 of 14 inputs | 40.2 | B/C | fortress balance sheet |
| 104 | Bloom Energy Corp. (BE) Bloom Energy Corp. (BE) B/Con the B/C boundary; percentile 40.6 NYSE · Electrical Industrial Apparatus market equity $77.6B; last close $272.74 No active warnings; 9 of 14 inputs | 40.6 | B/C | |
| 105 | Generac Holdings Inc. (GNRC) Generac Holdings Inc. (GNRC) B/Con the B/C boundary; percentile 40.9 NYSE · Motors & Generators market equity $13.2B; last close $224.50 No active warnings; 12 of 14 inputs | 40.9 | B/C | |
| 106 | Friedman Industries Inc. (FRD) Friedman Industries Inc. (FRD) B/Con the B/C boundary; percentile 41.3 Nasdaq · Steel Works, Blast Furnaces & Rolling & Finishing Mills market equity $301.9M; last close $43.02 No active warnings; 8 of 14 inputs | 41.3 | B/C | |
| 107 | Standex International (SXI) Standex International (SXI) B/Con the B/C boundary; percentile 41.7 NYSE · Refrigeration & Service Industry Machinery market equity $3.4B; last close $281.47 No active warnings; 12 of 14 inputs | 41.7 | B/C | |
| 108 | Azenta, Inc. (AZTA) Azenta, Inc. (AZTA) B/Con the B/C boundary; percentile 42.1 Nasdaq · Special Industry Machinery, NEC market equity $1.6B; last close $36.00 Warnings: late filer, fortress balance sheet; 7 of 14 inputs | 42.1 | B/C | late filer, fortress balance sheet |
| 109 | Fuel Tech, Inc. (FTEK) Fuel Tech, Inc. (FTEK) B/Con the B/C boundary; percentile 42.5 Nasdaq · Industrial & Commercial Fans & Blowers & Air Purifing Equip market equity $51.7M; last close $1.65 No active warnings; 9 of 14 inputs | 42.5 | B/C | |
| 110 | Honeywell International Inc. (HON) Honeywell International Inc. (HON) B/Con the B/C boundary; percentile 42.9 Nasdaq · Aircraft Engines & Engine Parts market equity $65.5B; last close $206.47 No active warnings; 12 of 14 inputs | 42.9 | B/C | |
| 111 | Belden Inc. (BDC) Belden Inc. (BDC) Cmiddle fifth; percentile 43.3 NYSE · Drawing & Insulating of Nonferrous Wire market equity $4.2B; last close $108.14 No active warnings; 9 of 14 inputs | 43.3 | C | |
| 112 | CPS Technologies (CPSH) CPS Technologies (CPSH) Cmiddle fifth; percentile 43.7 Nasdaq · Pottery & Related Products market equity $69.8M; last close $3.58 Warnings: fortress balance sheet; 10 of 14 inputs | 43.7 | C | fortress balance sheet |
| 113 | Apogee Enterprises, Inc. (APOG) Apogee Enterprises, Inc. (APOG) Cmiddle fifth; percentile 44.1 Nasdaq · Glass Products, Made of Purchased Glass market equity $851.9M; last close $40.92 No active warnings; 12 of 14 inputs | 44.1 | C |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | B | 36.6 | 2204 |
| sector peers, equal sleeves (the grade) | B/C | 42.1 | 255 |
| same exchange, equal sleeves | B | 32.8 | 1219 |
| sector peers, equal inputs | B | 33.5 | 255 |
Each letter is one fifth of the 255 graded peers, about 51 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 13.7% | 13.7% | 50 | hotter than 50 of 100 peers |
| Distance from 52-week high | (15.8%) | (24.3%) | 71 | closer to its high than 71 of 100 peers |
| EBIT to enterprise value | (1.9%) | 4.1% | 15 | pricier than 85 of 100 peers |
| Free cash flow yield | 2.4% | 3.4% | 39 | pricier than 61 of 100 peers |
| Book value to price | 0.96 | 0.34 | 89 | pricier than 11 of 100 peers |
| Sales to price | 0.38 | 0.54 | 34 | pricier than 66 of 100 peers |
| Composite equity issuance, five years | (52.8%) | (9.5%) | 2 | more equity-funded than 2 of 100 peers |
| Relative strength against the sector, log excess return | (0.00) | (0.00) | 50 | ahead of 50 of 100 peers |
Inputs: market equity $1.6B; EBIT -$26.8M; free cash flow $38.3M; book equity $1.5B; sales $593.8M; debt $49.7M; cash $189.7M[22].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-09-30 | ||
|---|---|---|
| Return on assets above zero | n/a | |
| Operating cash flow above zero | $72.2M | ✓ pass[23] |
| Return on assets improved | n/a[24] | |
| Operating cash flow exceeds net income | $127.9M | ✓ pass[23-24] |
| Long-term leverage fell | n/a[1] | |
| Current ratio improved | n/a[14-15] | |
| No new shares issued | 0.9% | ✗ fail[20-21] |
| Gross margin improved | n/a[2,5] | |
| Asset turnover improved | n/a[2] | |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $189.7M[25] |
| Operating cash flow, four quarters | $38.0M[23,25-29] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 1 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 64 |
| 10-Q received Aug 6, 2026 | |
| Median daily dollar volume | $23.6M |
| 63 sessions | |
| Days since newest grade input | 309 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $2.1B | 2025-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $593.8M | 2025-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $227.4M | 2021-09-30 | 2023-11-21 | 10-K | filing · viewer · series |
| 4 | total debt | us-gaap:LongTermDebt | $49.7M | 2021-09-30 | 2021-11-24 | 10-K | filing · viewer · series |
| 5 | gross profit | us-gaap:GrossProfit | $270.3M | 2025-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 6 | gross profit | us-gaap:GrossProfit | $254.6M | 2024-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 7 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $573.4M | 2024-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 8 | gross profit | us-gaap:GrossProfit | $239.2M | 2023-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 9 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $551.5M | 2023-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 10 | gross profit | us-gaap:GrossProfit | $255.6M | 2022-09-30 | 2024-11-27 | 10-K | filing · viewer · series |
| 11 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $555.5M | 2022-09-30 | 2024-11-27 | 10-K | filing · viewer · series |
| 12 | gross profit | us-gaap:GrossProfit | $243.8M | 2021-09-30 | 2023-11-21 | 10-K | filing · viewer · series |
| 13 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $513.7M | 2021-09-30 | 2023-11-21 | 10-K | filing · viewer · series |
| 14 | current assets | us-gaap:AssetsCurrent | $708.3M | 2025-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 15 | current liabilities | us-gaap:LiabilitiesCurrent | $237.7M | 2025-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 16 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | $1.4B | 2025-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 17 | operating income | us-gaap:OperatingIncomeLoss | -$26.8M | 2025-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 18 | book equity | us-gaap:StockholdersEquity | $1.7B | 2025-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 19 | liabilities | us-gaap:Liabilities | $332.6M | 2025-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 20 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 45,989,285 | 2025-12-01 | 2025-12-04 | 10-K | filing · viewer · series |
| 21 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 45,583,205 | 2024-11-19 | 2024-11-27 | 10-K | filing · viewer · series |
| 22 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 43,808,393 | 2026-08-03 | 2026-08-06 | 10-Q | filing · viewer · series |
| 23 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $72.2M | 2025-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 24 | net income | us-gaap:NetIncomeLoss | -$55.8M | 2025-09-30 | 2025-12-04 | 10-K | filing · viewer · series |
| 25 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $189.7M | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 26 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $35.8M | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 27 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $34.4M | 2026-03-31 | 2026-05-08 | 10-Q | filing · viewer · series |
| 28 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $20.8M | 2025-12-31 | 2026-02-05 | 10-Q | filing · viewer · series |
| 29 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $70.0M | 2025-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 42.1 is 2.1 points from the nearest band edge; sampling error is 3.0 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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