Power Assets HoldingsHGKGF 67 Altman Z2-Score is 12.86 as of Jul. 03, 2026, which is 2% above its 10-year median of 12.58. GuruFocus rates HGKGF with a GF Score™ of 67/100 and a GF Value™ of $4.25 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 438 Utilities - Independent Power Producers companies, Power Assets Holdings ranks better than 94.52% 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:
Power Assets Holdings has a Altman Z2-Score of 12.86, 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 Power Assets Holdings's Altman Z2-Score or its related term are showing as below:
HGKGF'
s Altman Z2-Score Range Over the Past 10 Years
Min: 10.48 Med: 12.58 Max: 14.28
Current: 12.86
During the past 13 years, Power Assets Holdings's highest Altman Z2-Score was 14.28. The lowest was 10.48. And the median was 12.58.
Power Assets Holdings (OTCPK:HGKGF) 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.
Altman Z2-Score does not apply to financial companies.
Power Assets Holdings Altman Z2-Score Related Terms
Power Assets Holdings Altman Z2-Score Historical Data
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The historical data trend for Power Assets Holdings'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.
HGKGF vs CEG, VST, NRG: Altman Z2-Score Comparison
For the Utilities - Independent Power Producers subindustry, Power Assets Holdings'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.
Power Assets Holdings Altman Z2-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Power Assets Holdings's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Power Assets Holdings'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.
* 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.
Power Assets Holdings (HGKGF) has a Altman Z2-Score of 12.86 as of Jul. 03, 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 Power Assets Holdings and its competitors. This is near median its historical median of 12.58. Over the past decade, Power Assets Holdings' Altman Z2-Score has ranged from 10.48 to 14.28. According to the industry distribution chart, Power Assets Holdings ranks #24 out of 438 companies in the Utilities - Independent Power Producers industry, placing it in the top 5.5%.
Is Power Assets Holdings' Altman Z2-Score too high?
Power Assets Holdings' current Altman Z2-Score of 12.86 is near median its 10-year median of 12.58. Over the past 10 years, this metric has ranged from a low of 10.48 to a high of 14.28. The Utilities - Independent Power Producers industry median Altman Z2-Score is 1.72. Power Assets Holdings' value of 12.86 is 647.7% above this industry median. Based on the distribution chart, Power Assets Holdings ranks #24 out of 438 companies in the Utilities - Independent Power Producers industry, which is in the top quartile — a strong position relative to peers. Overall, Power Assets Holdings has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Power Assets Holdings' Altman Z2-Score compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, Power Assets Holdings ranks #24 out of 438 companies for Altman Z2-Score. This places Power Assets Holdings in the top 6% of its industry — outperforming the majority of peers. The industry median Altman Z2-Score is 1.72. Power Assets Holdings' value of 12.86 is 647.7% above this benchmark. Historically, Power Assets Holdings' own Altman Z2-Score has ranged from 10.48 to 14.28 over the past decade. While the company's 10-year median is 12.58 vs. the industry median of 1.72, Power Assets Holdings 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 an Utilities - Independent Power Producers company?
The median Altman Z2-Score among Utilities - Independent Power Producers companies is 1.72, based on 438 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. Power Assets Holdings's current Altman Z2-Score of 12.86 is 647.7% 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 Power Assets Holdings and its competitors. For the Utilities - Independent Power Producers industry, the median Altman Z2-Score is 1.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Power Assets Holdings's current Altman Z2-Score is 12.86, which is near median its own 10-year median of 12.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Power Assets Holdings stock overvalued right now?
Based on GuruFocus' analysis, Power Assets Holdings (HGKGF) is currently considered Significantly Overvalued. The stock's GF Value™ is $4.25, compared to a current price of $8.57 — trading 101.6% above its estimated fair value. The current Altman Z2-Score is 12.86, which is near median its 10-year median of 12.58 and 647.7% above the Utilities - Independent Power Producers industry median of 1.72. Power Assets Holdings' overall GF Score™ is 67/100 with 4 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 Power Assets Holdings (HGKGF), the current Altman Z2-Score is 12.86 as of Jul. 03, 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 Power Assets Holdings (HGKGF) Overvalued in 2026?
Based on GuruFocus' analysis, Power Assets Holdings stock appears to be overvalued.
The current stock price of $8.57 is trading 101.6% above its estimated GF Value™ of $4.25.
GuruFocus considers Power Assets Holdings to be Significantly Overvalued.
Key valuation signals for HGKGF:
Altman Z2-Score: 12.86 (near median its 10-year median of 12.58)
GF Value™: $4.25 vs. price of $8.57 (101.6% above fair value)
Industry Position: 647.7% above the Utilities - Independent Power Producers median (#24 of 438)
No single metric tells the full story. See the HGKGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Power Assets Holdings is an investment holding company with a focus on regulated utility assets. The firm owns a portfolio of regulated electricity and gas assets and similarly stable utilities in Hong Kong, the UK, Australia, Canada, the Netherlands, Thailand, and New Zealand. Profit from its regulated assets contributes around 80% of total income, with earnings from its UK and Australian assets totaling around 65% of group profit. The firm is part of CK Hutchison Holdings, a Hong Kong-based multinational conglomerate, and is currently 36% owned by CKI Holdings.
67GF Score
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