ETACW (E.Merge Technology Acquisition) Altman Z2-Score: 1.12 (As of Jul. 01, 2026) — 93% Below Median


What is E.Merge Technology Acquisition Altman Z2-Score?

E.Merge Technology Acquisition ETACW Altman Z2-Score is 1.12 as of Jul. 01, 2026, which is 93% below its 10-year median of 15.93. The stock has 1 warning sign investors should review.

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.

E.Merge Technology Acquisition has a Altman Z2-Score of 1.12, indicating it is in Grey Zones. This implies that E.Merge Technology Acquisition 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 E.Merge Technology Acquisition's Altman Z2-Score or its related term are showing as below:

ETACW' s Altman Z2-Score Range Over the Past 10 Years
Min: 1.12   Med: 15.93   Max: 22.47
Current: 1.12

During the past 2 years, E.Merge Technology Acquisition's highest Altman Z2-Score was 22.47. The lowest was 1.12. And the median was 15.93.

E.Merge Technology Acquisition  (NAS:ETACW) 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.

X4_2, Net Worth (Total Stockholders Equity - Preferred Stock)/Total Liabilities (NW/TL): it compares a company’s stock net worth with its total liabilities and can be used to assess the extent of its reliance on debt.

Read more about Altman Z2-Score, the original research on Z-Score and the additional research on Z2-Score.

Be Aware

Altman Z2-Score does not apply to financial companies.

E.Merge Technology Acquisition Altman Z2-Score Related Terms

E.Merge Technology Acquisition Altman Z2-Score Historical Data

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The historical data trend for E.Merge Technology Acquisition'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.

E.Merge Technology Acquisition Altman Z2-Score Chart

E.Merge Technology Acquisition Annual Data
Trend Dec20 Dec21
Altman Z2-Score
0.00 17.16

E.Merge Technology Acquisition Quarterly Data
May20 Sep20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Altman Z2-Score Get a 7-Day Free Trial 13.94 15.93 17.16 22.47 1.12

ETACW vs BOAC, APSG, EOCW: Altman Z2-Score Comparison

For the Shell Companies subindustry, E.Merge Technology Acquisition'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.

E.Merge Technology Acquisition Altman Z2-Score vs Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, E.Merge Technology Acquisition's Altman Z2-Score distribution charts can be found below:

* The bar in red indicates where E.Merge Technology Acquisition's Altman Z2-Score falls into.


E.Merge Technology Acquisition 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.

E.Merge Technology Acquisition'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*0.0008+3.26*-0.0443+6.72*0.029+1.05*1.0098
=1.12

* 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.

Trailing Twelve Months (TTM) ended in Jun. 2022:
Total Assets was $602.16 Mil.
Total Current Assets was $1.37 Mil.
Total Current Liabilities was $0.88 Mil.
Retained Earnings was $-26.65 Mil.
Pre-Tax Income was 2.314 + 7.689 + 2.305 + 5.141 = $17.45 Mil.
Interest Expense was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Liabilities was $299.61 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
=(1.373 - 0.883)/602.16
=0.0008

X2=Retained Earnings/Total Assets
=-26.649/602.16
=-0.0443

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(17.449 - 0)/602.16
=0.029

X4_2=Net Worth/Total Liabilities
=(Total Stockholders Equity - Preferred Stock)/Total Liabilities
=(302.554 - 0)/299.606
=1.0098

The zones of discrimination were as such:

Distress Zones - 1.1 < Grey Zones < 2.6 - Safe Zones

E.Merge Technology Acquisition has a Altman Z2-Score of 1.12 indicating it is in Grey Zones.

Frequently Asked Questions Learn more about Altman Z2-Score →
What does a Altman Z2-Score of 1.12 mean?
E.Merge Technology Acquisition (ETACW) has a Altman Z2-Score of 1.12 as of Jul. 01, 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 E.Merge Technology Acquisition and its competitors. This is 93% below median its historical median of 15.93. Over the past decade, E.Merge Technology Acquisition's Altman Z2-Score has ranged from 1.12 to 22.47.
Is E.Merge Technology Acquisition's Altman Z2-Score too high?
E.Merge Technology Acquisition's current Altman Z2-Score of 1.12 is 93% below median its 10-year median of 15.93. Over the past 10 years, this metric has ranged from a low of 1.12 to a high of 22.47. The Diversified Financial Services industry median Altman Z2-Score is 10.78. E.Merge Technology Acquisition's value of 1.12 is 89.6% below this industry median.
How does E.Merge Technology Acquisition's Altman Z2-Score compare to BOAC and APSG?
E.Merge Technology Acquisition's Altman Z2-Score of 1.12 can be compared against companies in the Diversified Financial Services industry. The industry median Altman Z2-Score is 10.78. E.Merge Technology Acquisition's value of 1.12 is 89.6% below this benchmark. Historically, E.Merge Technology Acquisition's own Altman Z2-Score has ranged from 1.12 to 22.47 over the past decade. While the company's 10-year median is 15.93 vs. the industry median of 10.78, E.Merge Technology Acquisition 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 Diversified Financial Services company?
The median Altman Z2-Score among Diversified Financial Services companies is 10.78, based on 421 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. E.Merge Technology Acquisition's current Altman Z2-Score of 1.12 is 89.6% 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 E.Merge Technology Acquisition and its competitors. For the Diversified Financial Services industry, the median Altman Z2-Score is 10.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. E.Merge Technology Acquisition's current Altman Z2-Score is 1.12, which is 93% below median its own 10-year median of 15.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is E.Merge Technology Acquisition stock overvalued right now?
E.Merge Technology Acquisition (ETACW) has a current Altman Z2-Score of 1.12. The current Altman Z2-Score is 1.12, which is 93% below median its 10-year median of 15.93 and 89.6% below the Diversified Financial Services industry median of 10.78. 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 E.Merge Technology Acquisition (ETACW), the current Altman Z2-Score is 1.12 as of Jul. 01, 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.

E.Merge Technology Acquisition Business Description

Address 630 Ramona Street, Palo Alto, CA, USA, 94301
E.Merge Technology Acquisition Corp is a blank check company.