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The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Citrix Systems has a Altman Z-Score of 2.89, indicating it is in Grey Zones. This implies that Citrix Systems is in some kind of financial stress. If it is below 1.81, the company may face bankrupcy risk.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for Citrix Systems's Altman Z-Score or its related term are showing as below:
The historical data trend for Citrix Systems's Altman Z-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Citrix Systems Annual Data | |||||||||||||||||||||
Trend | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | |||||||||||
Altman Z-Score | Get a 7-Day Free Trial | 3.44 | 3.74 | 4.94 | 4.47 | 2.60 |
Citrix Systems Quarterly Data | ||||||||||||||||||||
Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | |
Altman Z-Score | Get a 7-Day Free Trial | 3.01 | 2.96 | 2.60 | 2.78 | 2.81 |
For the Software - Application subindustry, Citrix Systems's Altman Z-Score, along with its competitors' market caps and Altman Z-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Software industry and Technology sector, Citrix Systems's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Citrix Systems's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
Citrix Systems's Altman Z-Score for today is calculated with this formula:
Z | = | 1.2 | * | X1 | + | 1.4 | * | X2 | + | 3.3 | * | X3 | + | 0.6 | * | X4 | + | 1.0 | * | X5 |
= | 1.2 | * | -0.0584 | + | 1.4 | * | 0.7527 | + | 3.3 | * | 0.0468 | + | 0.6 | * | 2.1309 | + | 1.0 | * | 0.4727 | |
= | 2.89 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
Trailing Twelve Months (TTM) ended in Jun. 2022:
Total Assets was $7,011 Mil.
Total Current Assets was $1,898 Mil.
Total Current Liabilities was $2,307 Mil.
Retained Earnings was $5,277 Mil.
Pre-Tax Income was 146.564 + 73.517 + -42.647 + 59.925 = $237 Mil.
Interest Expense was -23.849 + -22.076 + -21.719 + -22.809 = $-90 Mil.
Revenue was 859.522 + 825.338 + 850.848 + 778.445 = $3,314 Mil.
Market Cap (Today) was $13,183 Mil.
Total Liabilities was $6,187 Mil.
* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.
X1 | = | Working Capital | / | Total Assets |
= | (Total Current Assets - Total Current Liabilities) | / | Total Assets | |
= | (1897.835 - 2307.273) | / | 7011.099 | |
= | -0.0584 |
X2 | = | Retained Earnings | / | Total Assets |
= | 5276.925 | / | 7011.099 | |
= | 0.7527 |
X3 | = | Earnings Before Interest and Taxes | / | Total Assets |
= | (Pre-Tax Income - Interest Expense) | / | Total Assets | |
= | (237.359 - -90.453) | / | 7011.099 | |
= | 0.0468 |
X4 | = | Market Value Equity | / | Book Value of Total Liabilities |
= | Market Cap | / | Total Liabilities | |
= | 13183.360 | / | 6186.743 | |
= | 2.1309 |
X5 | = | Revenue | / | Total Assets |
= | 3314.153 | / | 7011.099 | |
= | 0.4727 |
The zones of discrimination were as such:
Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones
Citrix Systems has a Altman Z-Score of 2.89 indicating it is in Grey Zones.
Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.
Citrix Systems (NAS:CTXS) Altman Z-Score Explanation
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Read more about Altman Z-Score and the original research.
Be Aware
Altman Z-Score does not apply to financial companies.
Thank you for viewing the detailed overview of Citrix Systems's Altman Z-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Jason Alexander Smith | officer: EVP & Chief Financial Officer | C/O CITRIX SYSTEMS, INC., 851 WEST CYPRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Michael Arenth | officer: EVP, SaaS Strategy | C/O CITRIX SYSTEMS, INC., 851 WEST CYPRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
David J Henshall | officer: Senior Vice President and CFO | 18880 HOMESTEAD ROAD, CUPERTINO CA 95014 |
Sridhar Mullapudi | officer: EVP, Product Management | C/O CITRIX SYSTEMS, INC., 851 WEST CYPRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Arlen Shenkman | officer: EVP & CFO | C/O CITRIX SYSTEMS, INC., 851 WEST CYRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Mark J Ferrer | officer: EVP, Chief Revenue Officer | 45025 AVIATION DR, STE 300, DULLES VA 20166 |
Mark J. Schmitz | officer: EVP & Chief Operating Officer | C/O CITRIX SYSTEMS, INC., 851 WEST CYPRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Timothy A. Minahan | officer: CMO | 13960 HAYSTACK LANE, MILTON GA 30004 |
Hector Lima | officer: EVP, Customer Experience | C/O CITRIX SYSTEMS, INC., 851 WEST CYPRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Antonio G. Gomes | officer: SVP & General Counsel | 345 HARVARD STREET, UNIT 2AB, CAMBRIDGE MA 02138 |
Paul J. Hough | officer: SVP & Chief Product Officer | 851 WEST CYPRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Jessica Soisson | officer: VP & Corporate Controller | 9836 EQUUS CIRCLE, BOYNTON BEACH FL 33472 |
W. Joseph Kim | officer: EVP & Chief Technology Officer | 7171, AUSTIN TX 78735-6140 |
Donna Nappen Kimmel | officer: SVP & Chief People Officer | 529 PLEASANT STREET, MS B-7, ATTLEBORO MA 02703 |
Knowling Robert E Jr | director | C/O HEWLETT-PACKARD CO, 3000 HANOVER STREET, PALO ALTO CA 94304 |
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