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Phol Dhanya PCLBKK:PHOL +1.92%75 Altman Z2-Score is 6.83 as of Jul. 17, 2026, which is 53% above its 10-year median of 4.47. GuruFocus rates BKK:PHOL with a GF Score™ of 75/100 and a GF Value™ of ฿2.92 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,079 Business Services companies, Phol Dhanya PCL ranks better than 74.88% on this metric.
Altman Z2-Score, also known as Z"-Score, is used to predict the likelihood that a non-manufacturing company (excluding property/financial company) will face bankruptcy within a two-year period.
Good Sign:
Phol Dhanya PCL has a Altman Z2-Score of 6.83, indicating it is in Safe Zones. This implies the Altman Z2-Score is strong.
The zones of discrimination were as such:
When Altman Z2-Score <= 1.1, it is in Distress Zones.
When Altman Z2-Score >= 2.6, it is in Safe Zones.
When Altman Z2-Score is between 1.1 and 2.6, it is in Grey Zones.
The historical rank and industry rank for Phol Dhanya PCL's Altman Z2-Score or its related term are showing as below:
BKK:PHOL'
s Altman Z2-Score Range Over the Past 10 Years
Min: -0.32 Med: 4.47 Max: 6.83
Current: 6.83
During the past 13 years, Phol Dhanya PCL's highest Altman Z2-Score was 6.83. The lowest was -0.32. And the median was 4.47.
The original Z-Score model was based on publicly traded manufacturing companies while the Z2-Score, also known as Z"-score can be used for any type of company excluding property/financial companies. Both Z-Score and Z2-Score describes the financial health of a company, and its likelihood of financial distress.
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.
Altman Z2-Score does not apply to financial companies.
Phol Dhanya PCL Altman Z2-Score Related Terms
Phol Dhanya PCL Altman Z2-Score Historical Data
* Premium members only.
The historical data trend for Phol Dhanya PCL's Altman Z2-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.
BKK:PHOL vs ALLE, MSA, ADT: Altman Z2-Score Comparison
For the Security & Protection Services subindustry, Phol Dhanya PCL's Altman Z2-Score, along with its competitors' market caps and Altman Z2-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.
Phol Dhanya PCL Altman Z2-Score vs Business Services Industry
For the Business Services industry and Industrials sector, Phol Dhanya PCL's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Phol Dhanya PCL's Altman Z2-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.
Z2-Score, also known as Z"-Score is the Z-Score for non-manufacturing companies excluding property/financial companies.
Phol Dhanya PCL's Altman Z2-Score for today is calculated with this formula:
Z
=
6.56
*
X1
+
3.26
*
X2
+
6.72
*
X3
+
1.05
*
X4_2
=
6.56
*
0.5215
+
3.26
*
0.2168
+
6.72
*
0.1363
+
1.05
*
1.7019
=
6.83
* 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 Z2-Score when X4_2 value is 0.
Phol Dhanya PCL (BKK:PHOL) has a Altman Z2-Score of 6.83 as of Jul. 17, 2026. Z2-Score is the Z-Score for non-manufacturing companies excluding property/financial companies, which measures a company's bankruptcy risk. View historical data on Phol Dhanya PCL and its competitors. This is 53% above median its historical median of 4.47. According to the industry distribution chart, Phol Dhanya PCL ranks #271 out of 1079 companies in the Business Services industry, placing it in the top 25.1%.
Is Phol Dhanya PCL's Altman Z2-Score too high?
Phol Dhanya PCL's current Altman Z2-Score of 6.83 is 53% above median its 10-year median of 4.47. The Business Services industry median Altman Z2-Score is 3.65. Phol Dhanya PCL's value of 6.83 is 87.1% above this industry median. Based on the distribution chart, Phol Dhanya PCL ranks #271 out of 1079 companies in the Business Services industry, which is above the industry midpoint. Overall, Phol Dhanya PCL has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Phol Dhanya PCL's Altman Z2-Score compare to ALLE and MSA?
According to the Business Services industry distribution chart, Phol Dhanya PCL ranks #271 out of 1079 companies for Altman Z2-Score. This puts Phol Dhanya PCL in the upper half of its industry. The industry median Altman Z2-Score is 3.65. Phol Dhanya PCL's value of 6.83 is 87.1% above this benchmark. While the company's 10-year median is 4.47 vs. the industry median of 3.65, Phol Dhanya PCL has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Altman Z2-Score for a Business Services company?
The median Altman Z2-Score among Business Services companies is 3.65, based on 1,079 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z2-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z2-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Phol Dhanya PCL's current Altman Z2-Score of 6.83 is 87.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Altman Z2-Score mean?
A high Altman Z2-Score can signal that a stock is expensive relative to its fundamentals. Z2-Score is the Z-Score for non-manufacturing companies excluding property/financial companies, which measures a company's bankruptcy risk. View historical data on Phol Dhanya PCL and its competitors. For the Business Services industry, the median Altman Z2-Score is 3.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Phol Dhanya PCL's current Altman Z2-Score is 6.83, which is 53% above median its own 10-year median of 4.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Phol Dhanya PCL stock overvalued right now?
Based on GuruFocus' analysis, Phol Dhanya PCL (BKK:PHOL) is currently considered Fairly Valued. The stock's GF Value™ is ฿2.92, compared to a current price of ฿3.18 — trading 8.9% above its estimated fair value. The current Altman Z2-Score is 6.83, which is 53% above median its 10-year median of 4.47 and 87.1% above the Business Services industry median of 3.65. Phol Dhanya PCL's overall GF Score™ is 75/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z2-Score calculated?
Altman Z2-Score is calculated from a company's financial statements. For Phol Dhanya PCL (BKK:PHOL), the current Altman Z2-Score is 6.83 as of Jul. 17, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Phol Dhanya PCL (BKK:PHOL) Overvalued in 2026?
Based on GuruFocus' analysis, Phol Dhanya PCL stock appears to be overvalued.
The current stock price of ฿3.18 is trading 8.9% above its estimated GF Value™ of ฿2.92.
GuruFocus considers Phol Dhanya PCL to be Fairly Valued.
Key valuation signals for BKK:PHOL:
Altman Z2-Score: 6.83 (53% above median its 10-year median of 4.47)
GF Value™: ฿2.92 vs. price of ฿3.18 (8.9% above fair value)
Industry Position: 87.1% above the Business Services median (#271 of 1079)
No single metric tells the full story. See the BKK:PHOL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Phol Dhanya PCL is a Thailand-based company engaged in the trading business. It is involved in the distribution of safety, health, and environmental products, and the distribution, production, and servicing of water treatment systems. The operating segments of the group are Trading in Health and Safety Products, Water treatment systems, and Others. It generates the majority of its revenue from the Trading in Health and Safety Products segment. The company offers products like firefighting suits, gas meters, fall protection devices, gloves, dust masks, chemical masks, and other related products. The group operates in Thailand, and internationally of which the majority of the revenue is derived from Thailand.
75GF Score
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