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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:
Eagle Materials has a Altman Z2-Score of 4.91, 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 Eagle Materials's Altman Z2-Score or its related term are showing as below:
During the past 13 years, Eagle Materials's highest Altman Z2-Score was 5.27. The lowest was 3.35. And the median was 4.55.
The historical data trend for Eagle Materials'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.
Eagle Materials Annual Data | |||||||||||||||||||||
Trend | Mar15 | Mar16 | Mar17 | Mar18 | Mar19 | Mar20 | Mar21 | Mar22 | Mar23 | Mar24 | |||||||||||
Altman Z2-Score | Get a 7-Day Free Trial |
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3.35 | 4.70 | 4.18 | 4.41 | 4.66 |
Eagle Materials Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Altman Z2-Score | Get a 7-Day Free Trial |
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4.82 | 4.66 | 4.69 | 4.70 | 4.91 |
For the Building Materials subindustry, Eagle Materials'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.
For the Building Materials industry and Basic Materials sector, Eagle Materials's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Eagle Materials'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.
Eagle Materials'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 | * | 0.1296 | + | 3.26 | * | 0.4925 | + | 6.72 | * | 0.2148 | + | 1.05 | * | 0.9668 | |
= | 4.91 |
* 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 Dec. 2024:
Total Assets was $3,044 Mil.
Total Current Assets was $618 Mil.
Total Current Liabilities was $224 Mil.
Retained Earnings was $1,499 Mil.
Pre-Tax Income was 154.302 + 185.251 + 170.934 + 101.696 = $612 Mil.
Interest Expense was -9.284 + -11.272 + -10.866 + -10.206 = $-42 Mil.
Total Liabilities was $1,548 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 | |
= | (618.462 - 223.881) | / | 3043.67 | |
= | 0.1296 |
X2 | = | Retained Earnings | / | Total Assets |
= | 1499.043 | / | 3043.67 | |
= | 0.4925 |
X3 | = | Earnings Before Interest and Taxes | / | Total Assets |
= | (Pre-Tax Income - Interest Expense) | / | Total Assets | |
= | (612.183 - -41.628) | / | 3043.67 | |
= | 0.2148 |
X4_2 | = | Net Worth | / | Total Liabilities |
= | (Total Stockholders Equity - Preferred Stock) | / | Total Liabilities | |
= | (1496.139 - 0) | / | 1547.531 | |
= | 0.9668 |
The zones of discrimination were as such:
Distress Zones - 1.1 < Grey Zones < 2.6 - Safe Zones
Eagle Materials has a Altman Z2-Score of 4.91 indicating it is in Safe Zones.
Eagle Materials (NYSE:EXP) 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.
Thank you for viewing the detailed overview of Eagle Materials's Altman Z2-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Michael R Nicolais | director | OLIVAN INVESTMENT LP, 8117 PRESTON ROAD SUITE 250W, DALLAS TX 75225 |
Eric Cribbs | officer: Executive Vice President | 5960 BERKSHIRE LN, SUITE 800, DALLAS TX 75225 |
Dale Craig Kesler | officer: EVP and CFO | 3811 TURTLE CREEK BLVD., SUITE 1100, DALLAS TX 75219 |
Michael Haack | director, officer: President & CEO | 3811 TURTLE CREEK BLVD., SUITE 1100, DALLAS TX 75219 |
Richard Ross Stewart | director | 2707 N LOOP WEST 9TH FL, HOUSTON TX 77008 |
Tony Thompson | officer: Senior Vice President | 5960 BERKSHIRE LN, SUITE 800, DALLAS TX 75225 |
William R Devlin | officer: Vice President & Controller | C/O EAGLE MATERIALS INC., 3811 TURTLE CREEK BLVD SUITE 1100, DALLAS TX 75219 |
George John Damiris | director | 100 CRESCENT COURT, SUITE 1600, DALLAS TX 75201 |
Matt Newby | officer: EVP & General Counsel | 5960 BERKSHIRE LN, SUITE 900, DALLAS TX 75225 |
David B Powers | officer: Executive Vice President | C/O EAGLE MATERIALS INC., 3811 TURTLE CREEK BLVD SUITE 1100, DALLAS TX 75201 |
Robert S Stewart | officer: EVP-Strategy & Corp. Develop. | C/O EAGLE MATERIALS INC., 3811 TURTLE CREEK BLVD SUITE 1100, DALLAS TX 75219 |
Steven L Wentzel | officer: President (American Gypsum) | 5960 BERKSHIRE LN #800, DALLAS TX 75225 |
Bowman Ed H Jr | director | C/O F.Y.I. INC, 3232 MCKINNEY AVE STE 900, DALLAS TX 75204 |
James H Graass | officer: EVP & General Counsel | C/O EAGLE MATERIALS INC., 3811 TURTLE CREEK BLVD SUITE 1100, DALLAS TX 75219 |
Martin M Ellen | director | 5960 BERKSHIRE LN, SUITE 900, DALLAS TX 75225 |
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