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FRZA (Forza X1) Altman Z2-Score : 64.80 (As of Mar. 17, 2025)


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What is Forza X1 Altman Z2-Score?

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:

Forza X1 has a Altman Z2-Score of 64.80, 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 Forza X1's Altman Z2-Score or its related term are showing as below:

FRZA' s Altman Z2-Score Range Over the Past 10 Years
Min: 1.07   Med: 33.89   Max: 83.51
Current: 64.8

During the past 4 years, Forza X1's highest Altman Z2-Score was 83.51. The lowest was 1.07. And the median was 33.89.


Forza X1 Altman Z2-Score Historical Data

The historical data trend for Forza X1'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.

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Forza X1 Altman Z2-Score Chart

Forza X1 Annual Data
Trend Dec20 Dec21 Dec22 Dec23
Altman Z2-Score
- 3.88 30.83 19.24

Forza X1 Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Altman Z2-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 64.07 19.24 41.06 17.12 64.80

Competitive Comparison of Forza X1's Altman Z2-Score

For the Recreational Vehicles subindustry, Forza X1'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.


Forza X1's Altman Z2-Score Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Forza X1's Altman Z2-Score distribution charts can be found below:

* The bar in red indicates where Forza X1's Altman Z2-Score falls into.



Forza X1 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.

Forza X1'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*0.6222+3.26*-1.2475+6.72*-0.5257+1.05*65.0663
=64.80

* 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 Sep. 2024:
Total Assets was $11.96 Mil.
Total Current Assets was $7.55 Mil.
Total Current Liabilities was $0.11 Mil.
Retained Earnings was $-14.92 Mil.
Pre-Tax Income was -0.896 + -2.832 + -1.168 + -1.398 = $-6.29 Mil.
Interest Expense was -0.003 + -0.001 + -0.003 + -0.001 = $-0.01 Mil.
Total Liabilities was $0.18 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
=(7.554 - 0.114)/11.957
=0.6222

X2=Retained Earnings/Total Assets
=-14.916/11.957
=-1.2475

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(-6.294 - -0.008)/11.957
=-0.5257

X4_2=Net Worth/Total Liabilities
=(Total Stockholders Equity - Preferred Stock)/Total Liabilities
=(11.777 - 0)/0.181
=65.0663

The zones of discrimination were as such:

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

Forza X1 has a Altman Z2-Score of 64.80 indicating it is in Safe Zones.


Forza X1  (OTCPK:FRZA) 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.


Forza X1 Altman Z2-Score Related Terms

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Forza X1 Business Description

Traded in Other Exchanges
N/A
Address
3101 S. US-1, Fort Pierce, FL, USA, 34982
Forza X1 Inc develops and manufactures fully electric, affordable boats with mass appeal. The company is focused on the creation, implementation, and sale of electric boats utilizing its electric vehicle (EV) technology to control and power its boats and proprietary outboard electric motor. its electric boats are being designed as fully integrated electric boats including the hull, outboard motor, and control system. Its initial two models, the FX1 Dual Console and FX1 Center Console are being designed to be 24 feet in length, have an 8' beam or width, and utilize a catamaran hull surface to reduce drag and increase run times.
Executives
Neil Ross director 3101 S. US-1, FT. PIERCE FL 34982
Kevin Schuyler director 1180 SEMINOLE TRAIL, SUITE 495, CHARLOTTESVILLE VA 22901
Joseph C Visconti director, 10 percent owner, officer: EC and Chief of PD 525 SOUTH FLAGLER DRIVE #400, WEST PALM BEACH FL 33401
Carrie L. Gunnerson officer: Interim CFO/Interim PAO 5556 HIGHWAY 9, ARMSTRONG IA 50514
Marcia Kull director 3101 S. US-1, FT. PIERCE FL 34982
James Howard Leffew director, officer: President and CEO 3101 S. US-1, FT. PIERCE FL 34928
Twin Vee Powercats, Inc. 10 percent owner 3101 SOUTH US HIGHWAY 1, FT PIERCE FL 34982
Twin Vee Powercats, Co. 10 percent owner 3101 S. FEDERAL HIGHWAY, FT. PIERCE FL 34982
Nicole Marie Camacho officer: Chief Financial Officer 3101 S US-1, FT. PIERCE FL 34982