Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
Centrais Eletricas denta Catarina has a Altman Z2-Score of 1.30, indicating it is in Grey Zones. This implies that Centrais Eletricas denta Catarina is in some kind of financial stress. If it is below 1.1, the company may face bankrupcy risk.
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 Centrais Eletricas denta Catarina's Altman Z2-Score or its related term are showing as below:
BSP:CLSC4'
s Altman Z2-Score Range Over the Past 10 Years
Min: 0.17 Med: 0.97 Max: 1.88
Current: 1.3
During the past 13 years, Centrais Eletricas denta Catarina's highest Altman Z2-Score was 1.88. The lowest was 0.17. And the median was 0.97.
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.
BSP:CLSC4 vs NEE, SO, DUK: Altman Z2-Score Comparison
For the Utilities - Regulated Electric subindustry, Centrais Eletricas denta Catarina'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.
Centrais Eletricas denta Catarina Altman Z2-Score vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Centrais Eletricas denta Catarina's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Centrais Eletricas denta Catarina'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.
* 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.
Centrais Eletricas denta Catarina (BSP:CLSC4) has a Altman Z2-Score of 1.30 as of Jul. 14, 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 Centrais Eletricas denta Catarina and its competitors. This is 34% above median its historical median of 0.97. Over the past decade, Centrais Eletricas denta Catarina's Altman Z2-Score has ranged from 0.17 to 1.88. According to the industry distribution chart, Centrais Eletricas denta Catarina ranks #289 out of 507 companies in the Utilities - Regulated industry, placing it in the top 57%.
Is Centrais Eletricas denta Catarina's Altman Z2-Score too high?
Centrais Eletricas denta Catarina's current Altman Z2-Score of 1.30 is 34% above median its 10-year median of 0.97. Over the past 10 years, this metric has ranged from a low of 0.17 to a high of 1.88. The Utilities - Regulated industry median Altman Z2-Score is 1.56. Centrais Eletricas denta Catarina's value of 1.30 is 16.7% below this industry median. Based on the distribution chart, Centrais Eletricas denta Catarina ranks #289 out of 507 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, Centrais Eletricas denta Catarina has a GF Score™ of 62/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Centrais Eletricas denta Catarina's Altman Z2-Score compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Centrais Eletricas denta Catarina ranks #289 out of 507 companies for Altman Z2-Score. This places Centrais Eletricas denta Catarina in the lower half of its industry. The industry median Altman Z2-Score is 1.56. Centrais Eletricas denta Catarina's value of 1.30 is 16.7% below this benchmark. Historically, Centrais Eletricas denta Catarina's own Altman Z2-Score has ranged from 0.17 to 1.88 over the past decade. While the company's 10-year median is 0.97 vs. the industry median of 1.56, Centrais Eletricas denta Catarina 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 an Utilities - Regulated company?
The median Altman Z2-Score among Utilities - Regulated companies is 1.56, based on 507 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. Centrais Eletricas denta Catarina's current Altman Z2-Score of 1.30 is 16.7% 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 Centrais Eletricas denta Catarina and its competitors. For the Utilities - Regulated industry, the median Altman Z2-Score is 1.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Centrais Eletricas denta Catarina's current Altman Z2-Score is 1.30, which is 34% above median its own 10-year median of 0.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Centrais Eletricas denta Catarina stock overvalued right now?
Based on GuruFocus' analysis, Centrais Eletricas denta Catarina (BSP:CLSC4) is currently considered Modestly Overvalued. The stock's GF Value™ is R$105.96, compared to a current price of R$137.64 — trading 29.9% above its estimated fair value. The current Altman Z2-Score is 1.30, which is 34% above median its 10-year median of 0.97 and 16.7% below the Utilities - Regulated industry median of 1.56. Centrais Eletricas denta Catarina's overall GF Score™ is 62/100 with 9 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 Centrais Eletricas denta Catarina (BSP:CLSC4), the current Altman Z2-Score is 1.30 as of Jul. 14, 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 Centrais Eletricas denta Catarina (BSP:CLSC4) Overvalued in 2026?
Based on GuruFocus' analysis, Centrais Eletricas denta Catarina stock appears to be overvalued.
The current stock price of R$137.64 is trading 29.9% above its estimated GF Value™ of R$105.96.
GuruFocus considers Centrais Eletricas denta Catarina to be Modestly Overvalued.
Key valuation signals for BSP:CLSC4:
Altman Z2-Score: 1.30 (34% above median its 10-year median of 0.97)
GF Value™: R$105.96 vs. price of R$137.64 (29.9% above fair value)
Industry Position: 16.7% below the Utilities - Regulated median (#289 of 507)
No single metric tells the full story. See the BSP:CLSC4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Centrais Eletricas denta Catarina Business Description
Centrais Eletricas de Santa Catarina SA is a Brazil-based company. It is engaged in the generation, transmission, and distribution of electric energy. Its segments are Celesc D, and Celesc G. The company, through its subsidiaries, is also engaged in the operation, maintenance, expansion and sale related to its generating complex, formed by hydroelectric power plants established in partnership with private investors.
62GF Score
Get the complete analysis for BSP:CLSC4
Altman Z2-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BSP:CLSC4 has been successfully added to your 
