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JX Energy (HKSE:03395) Altman Z2-Score : -33.55 (As of Dec. 12, 2024)


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What is JX Energy 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.

Warning Sign:

JX Energy has a Altman Z2-Score of -33.55, 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 JX Energy's Altman Z2-Score or its related term are showing as below:

HKSE:03395' s Altman Z2-Score Range Over the Past 10 Years
Min: -33.28   Med: -15.94   Max: 0.03
Current: -33.28

During the past 11 years, JX Energy's highest Altman Z2-Score was 0.03. The lowest was -33.28. And the median was -15.94.


JX Energy Altman Z2-Score Historical Data

The historical data trend for JX Energy'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.

* Premium members only.

JX Energy Altman Z2-Score Chart

JX Energy Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Altman Z2-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -17.96 -22.17 -15.96 -18.02 -27.99

JX Energy Quarterly Data
Dec19 Mar20 Jun20 Sep20 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only -19.23 -27.99 -29.06 -33.28 -

Competitive Comparison of JX Energy's Altman Z2-Score

For the Oil & Gas E&P subindustry, JX Energy'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.


JX Energy's Altman Z2-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, JX Energy's Altman Z2-Score distribution charts can be found below:

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



JX Energy 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.

JX Energy'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*-0.4246+3.26*-7.852+6.72*-0.7339+1.05*-0.2273
=-33.55

* 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. 2024:
Total Assets was HK$178.60 Mil.
Total Current Assets was HK$5.77 Mil.
Total Current Liabilities was HK$81.61 Mil.
Retained Earnings was HK$-1,402.34 Mil.
Pre-Tax Income was -24.225 + -21.928 + -19.823 + -81.643 = HK$-147.62 Mil.
Interest Expense was -2.594 + -3.716 + -3.635 + -6.601 = HK$-16.55 Mil.
Total Liabilities was HK$231.12 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
=(5.773 - 81.605)/178.596
=-0.4246

X2=Retained Earnings/Total Assets
=-1402.341/178.596
=-7.852

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(-147.619 - -16.546)/178.596
=-0.7339

X4_2=Net Worth/Total Liabilities
=(Total Stockholders Equity - Preferred Stock)/Total Liabilities
=(-52.524 - 0)/231.12
=-0.2273

The zones of discrimination were as such:

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

JX Energy has a Altman Z2-Score of -33.55 indicating it is in Distress Zones.


JX Energy  (HKSE:03395) 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.


JX Energy Altman Z2-Score Related Terms

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JX Energy Business Description

Traded in Other Exchanges
N/A
Address
717-7th Avenue South West, Suite 900, Calgary, AB, CAN, T2P 0Z3
JX Energy Ltd is an exploration and development company pursuing petroleum and natural gas production in Alberta, Canada. It focuses on liquids-rich gas and light crude oil in Western Canada with two core areas comprising: Alberta Foothills which includes natural gas properties in the two areas of Basing and Voyager, and Peace River, which includes light crude oil properties in the key areas of Dawson.
Executives
Liu Yongtan
Zhang Lijun
Aspen Investment Holdings Ltd.
Jing Guang
Jing Yuan
Zhang Zhong
Zhang Chun Shi Ji Xing Che Yong Qi You Xian Gong Si
Ji Lin Sheng Hong Yuan Jing Mao Ji Tuan You Xian Gong Si
Zhang Chun Shi Li Yuan Tou Zi You Xian Gong Si
Da Lian Yong Li Shi You Hua Gong You Xian Gong Si
Jixing Gas Holdings Limited 2101 Beneficial owner

JX Energy Headlines

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