Covalon TechnologiesCVALF -0.64%82 Altman Z2-Score is 7.27 as of Jun. 24, 2026, which is 586% above its 10-year median of 1.06. GuruFocus rates CVALF with a GF Score™ of 82/100 and a GF Value™ of $1.54 (Fairly Valued). The stock has 2 warning signs investors should review. Among 845 Medical Devices & Instruments companies, Covalon Technologies ranks better than 72.78% 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:
Covalon Technologies has a Altman Z2-Score of 7.27, 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 Covalon Technologies's Altman Z2-Score or its related term are showing as below:
CVALF'
s Altman Z2-Score Range Over the Past 10 Years
Min: -17 Med: 1.06 Max: 11.11
Current: 7.27
During the past 13 years, Covalon Technologies's highest Altman Z2-Score was 11.11. The lowest was -17.00. And the median was 1.06.
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.
Covalon Technologies Altman Z2-Score Related Terms
Covalon Technologies Altman Z2-Score Historical Data
* Premium members only.
The historical data trend for Covalon Technologies'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.
CVALF vs ISRG, BDX, MDLN: Altman Z2-Score Comparison
For the Medical Instruments & Supplies subindustry, Covalon Technologies'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.
Covalon Technologies Altman Z2-Score vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Covalon Technologies's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Covalon Technologies'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.
Covalon Technologies'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
*
0.7362
+
3.26
*
-1.1019
+
6.72
*
0.0494
+
1.05
*
5.4282
=
7.27
* 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.
Covalon Technologies (CVALF) has a Altman Z2-Score of 7.27 as of Jun. 24, 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 Covalon Technologies and its competitors. This is 586% above median its historical median of 1.06. According to the industry distribution chart, Covalon Technologies ranks #230 out of 845 companies in the Medical Devices & Instruments industry, placing it in the top 27.2%.
Is Covalon Technologies' Altman Z2-Score too high?
Covalon Technologies' current Altman Z2-Score of 7.27 is 586% above median its 10-year median of 1.06. The Medical Devices & Instruments industry median Altman Z2-Score is 3.48. Covalon Technologies' value of 7.27 is 108.9% above this industry median. Based on the distribution chart, Covalon Technologies ranks #230 out of 845 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, Covalon Technologies has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Covalon Technologies' Altman Z2-Score compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Covalon Technologies ranks #230 out of 845 companies for Altman Z2-Score. This puts Covalon Technologies in the upper half of its industry. The industry median Altman Z2-Score is 3.48. Covalon Technologies' value of 7.27 is 108.9% above this benchmark. While the company's 10-year median is 1.06 vs. the industry median of 3.48, Covalon Technologies 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 Medical Devices & Instruments company?
The median Altman Z2-Score among Medical Devices & Instruments companies is 3.48, based on 845 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. Covalon Technologies's current Altman Z2-Score of 7.27 is 108.9% 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 Covalon Technologies and its competitors. For the Medical Devices & Instruments industry, the median Altman Z2-Score is 3.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Covalon Technologies's current Altman Z2-Score is 7.27, which is 586% above median its own 10-year median of 1.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Covalon Technologies stock overvalued right now?
Based on GuruFocus' analysis, Covalon Technologies (CVALF) is currently considered Fairly Valued. The stock's GF Value™ is $1.54, compared to a current price of $1.56 — trading 1.3% above its estimated fair value. The current Altman Z2-Score is 7.27, which is 586% above median its 10-year median of 1.06 and 108.9% above the Medical Devices & Instruments industry median of 3.48. Covalon Technologies' overall GF Score™ is 82/100 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 Covalon Technologies (CVALF), the current Altman Z2-Score is 7.27 as of Jun. 24, 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 Covalon Technologies (CVALF) Overvalued in 2026?
Based on GuruFocus' analysis, Covalon Technologies stock appears to be overvalued.
The current stock price of $1.56 is trading 1.3% above its estimated GF Value™ of $1.54.
GuruFocus considers Covalon Technologies to be Fairly Valued.
Key valuation signals for CVALF:
Altman Z2-Score: 7.27 (586% above median its 10-year median of 1.06)
GF Value™: $1.54 vs. price of $1.56 (1.3% above fair value)
Industry Position: 108.9% above the Medical Devices & Instruments median (#230 of 845)
No single metric tells the full story. See the CVALF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Covalon Technologies Ltd is engaged in the business of researching, developing, manufacturing, and marketing patent-protected medical products that improve patient outcomes in the areas of infection management, wound care, and surgical procedures. The company generates revenue through development contracts, licensing agreements, distribution contracts, and sales. Its products include IV dressings, surgical site protection products, vascular access protection products, and others, and its solutions include primary dressing cover, vascular access technologies, advanced wound care, sensitive skin solutions, custom medical coatings, and patient resource support.
82GF Score
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