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National Securities DepositoryBOM:544467 +0.05%47 Altman Z2-Score is 3.47 as of Aug. 08, 2026, which is 36% below its 10-year median of 5.46. GuruFocus rates BOM:544467 with a GF Score™ of 47/100. The stock has 2 warning signs investors should review. Among 656 Capital Markets companies, National Securities Depository ranks worse than 152438.87% 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:
National Securities Depository has a Altman Z2-Score of 3.47, 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 National Securities Depository's Altman Z2-Score or its related term are showing as below:
During the past 6 years, National Securities Depository's highest Altman Z2-Score was 6.60. The lowest was 2.78. And the median was 5.46.
National Securities Depository (BOM:544467) Altman Z2-Score Explanation
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.
* 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.
National Securities Depository Altman Z2-Score Chart
BOM:544467 vs SPGI, CME, ICE: Altman Z2-Score Comparison
For the Financial Data & Stock Exchanges subindustry, National Securities Depository'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.
National Securities Depository Altman Z2-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, National Securities Depository's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where National Securities Depository's Altman Z2-Score falls into.
National Securities Depository Altman Z2-Score Calculation
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.
* 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.
National Securities Depository (BOM:544467) has a Altman Z2-Score of 3.47 as of Aug. 08, 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 National Securities Depository and its competitors. This is 36% below median its historical median of 5.46. Over the past decade, National Securities Depository's Altman Z2-Score has ranged from 2.78 to 6.60. According to the industry distribution chart, National Securities Depository ranks #999999 out of 656 companies in the Capital Markets industry.
Is National Securities Depository's Altman Z2-Score too high?
National Securities Depository's current Altman Z2-Score of 3.47 is 36% below median its 10-year median of 5.46. Over the past 10 years, this metric has ranged from a low of 2.78 to a high of 6.60. The Capital Markets industry median Altman Z2-Score is 4.13. National Securities Depository's value of 3.47 is 16% below this industry median. Based on the distribution chart, National Securities Depository ranks #999999 out of 656 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, National Securities Depository has a GF Score™ of 47/100, reflecting its overall financial health beyond just this single metric.
How does National Securities Depository's Altman Z2-Score compare to SPGI and CME?
According to the Capital Markets industry distribution chart, National Securities Depository ranks #999999 out of 656 companies for Altman Z2-Score. This places National Securities Depository in the lower half of its industry. The industry median Altman Z2-Score is 4.13. National Securities Depository's value of 3.47 is 16% below this benchmark. Historically, National Securities Depository's own Altman Z2-Score has ranged from 2.78 to 6.60 over the past decade. While the company's 10-year median is 5.46 vs. the industry median of 4.13, National Securities Depository has consistently been below 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 Capital Markets company?
The median Altman Z2-Score among Capital Markets companies is 4.13, based on 656 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. National Securities Depository's current Altman Z2-Score of 3.47 is 16% below 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 National Securities Depository and its competitors. For the Capital Markets industry, the median Altman Z2-Score is 4.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Securities Depository's current Altman Z2-Score is 3.47, which is 36% below median its own 10-year median of 5.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Securities Depository stock overvalued right now?
National Securities Depository (BOM:544467) has a current Altman Z2-Score of 3.47. The current Altman Z2-Score is 3.47, which is 36% below median its 10-year median of 5.46 and 16% below the Capital Markets industry median of 4.13. National Securities Depository's overall GF Score™ is 47/100 with 2 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 National Securities Depository (BOM:544467), the current Altman Z2-Score is 3.47 as of Aug. 08, 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.
National Securities Depository Ltd is a SEBI-registered market infrastructure institution (MII) that offers a wide range-of-products and services to the financial and securities markets in India. As a depository, it provides a depository framework that allows market participants to engage in the financial and securities markets in India. It also plays a central role in developing products and services that will continue to meet the growing needs of the financial services industry in India. The company's business is to provide depository services to its clients in India, including various services for investors such as dematerialization, re-materialization, holding, transfer, and pledge of securities in electronic form.
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