Krispy KremeFRA:9YM -4.35%50 Altman Z2-Score is -2.79 as of Jul. 09, 2026. GuruFocus rates FRA:9YM with a GF Score™ of 50/100 and a GF Value™ of €7.31 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 308 Retail - Defensive companies, Krispy Kreme ranks worse than 93.18% 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.
Warning Sign:
Krispy Kreme has a Altman Z2-Score of -2.79, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
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 Krispy Kreme's Altman Z2-Score or its related term are showing as below:
FRA:9YM'
s Altman Z2-Score Range Over the Past 10 Years
Min: -2.79 Med: -0.3 Max: -0.08
Current: -2.79
During the past 8 years, Krispy Kreme's highest Altman Z2-Score was -0.08. The lowest was -2.79. And the median was -0.30.
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.
Krispy Kreme Altman Z2-Score Related Terms
Krispy Kreme Altman Z2-Score Historical Data
* Premium members only.
The historical data trend for Krispy Kreme'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.
FRA:9YM vs VLGEA, YSWY, NGVC: Altman Z2-Score Comparison
For the Grocery Stores subindustry, Krispy Kreme'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.
Krispy Kreme Altman Z2-Score vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Krispy Kreme's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Krispy Kreme'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.
Krispy Kreme'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
*
-0.1086
+
3.26
*
-0.3537
+
6.72
*
-0.1941
+
1.05
*
0.3603
=
-2.79
* 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.
Krispy Kreme (FRA:9YM) has a Altman Z2-Score of -2.79 as of Jul. 09, 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 Krispy Kreme and its competitors. According to the industry distribution chart, Krispy Kreme ranks #287 out of 308 companies in the Retail - Defensive industry, placing it in the top 93.2%.
Is Krispy Kreme's Altman Z2-Score too high?
Krispy Kreme's current Altman Z2-Score is -2.79. Based on the distribution chart, Krispy Kreme ranks #287 out of 308 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, Krispy Kreme has a GF Score™ of 50/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Krispy Kreme's Altman Z2-Score compare to VLGEA and YSWY?
According to the Retail - Defensive industry distribution chart, Krispy Kreme ranks #287 out of 308 companies for Altman Z2-Score. This places Krispy Kreme in the lower half of its industry. The industry median Altman Z2-Score is 2.66. 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 Retail - Defensive company?
The median Altman Z2-Score among Retail - Defensive companies is 2.66, based on 308 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. 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 Krispy Kreme and its competitors. For the Retail - Defensive industry, the median Altman Z2-Score is 2.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Krispy Kreme's current Altman Z2-Score is -2.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Krispy Kreme stock overvalued right now?
Based on GuruFocus' analysis, Krispy Kreme (FRA:9YM) is currently considered Possible Value Trap. The stock's GF Value™ is €7.31, compared to a current price of €2.86 — trading 60.9% below its estimated fair value. The current Altman Z2-Score is -2.79. Krispy Kreme's overall GF Score™ is 50/100 with 3 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 Krispy Kreme (FRA:9YM), the current Altman Z2-Score is -2.79 as of Jul. 09, 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 Krispy Kreme (FRA:9YM) Overvalued in 2026?
Based on GuruFocus' analysis, Krispy Kreme stock appears to be undervalued.
The current stock price of €2.86 is trading 60.9% below its estimated GF Value™ of €7.31.
GuruFocus considers Krispy Kreme to be Possible Value Trap.
Key valuation signals for FRA:9YM:
Altman Z2-Score: -2.79
GF Value™: €7.31 vs. price of €2.86 (60.9% below fair value)
No single metric tells the full story. See the FRA:9YM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Krispy Kreme Inc is a sweet-treat brand company. The company's Original Glazed doughnut is recognized for its hot-off-the-line, melt-in-mouth experience. It operates through its network of fresh Doughnut Shops, partnerships with retailers, and a growing e-commerce and delivery business. The company conducts its business through the following three reported segments: U.S., which includes all operations in the United States; International, which includes operations in the U.K., Ireland, Australia, New Zealand, Canada, Japan, and Mexico; and Market Development, which includes franchise operations world-wide. It derives maximum revenue from the U.S. segment.
50GF Score
Get the complete analysis for FRA:9YM
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
FRA:9YM has been successfully added to your 
