Vinacomin - Power Holding (HSTC:DTK) Altman Z2-Score: 2.46 (As of Jul. 08, 2026) — 77% Above Median


HSTC:DTK Vinacomin - Power Holding Corp HSTC:DTK
61 GF Score
Price ₫11,200.00
GF Value ₫12,534.50
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Vinacomin - Power Holding Altman Z2-Score?

Vinacomin - Power Holding HSTC:DTK 61 Altman Z2-Score is 2.46 as of Jul. 08, 2026, which is 77% above its 10-year median of 1.39. GuruFocus rates HSTC:DTK with a GF Score™ of 61/100 and a GF Value™ of ₫12,534.50 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 437 Utilities - Independent Power Producers companies, Vinacomin - Power Holding ranks better than 61.56% 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.

Vinacomin - Power Holding has a Altman Z2-Score of 2.46, indicating it is in Grey Zones. This implies that Vinacomin - Power Holding is in some kind of financial stress. If it is below 1.1, the company may face bankrupcy risk.

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 Vinacomin - Power Holding's Altman Z2-Score or its related term are showing as below:

HSTC:DTK' s Altman Z2-Score Range Over the Past 10 Years
Min: 0.74   Med: 1.39   Max: 2.73
Current: 2.46

During the past 5 years, Vinacomin - Power Holding's highest Altman Z2-Score was 2.73. The lowest was 0.74. And the median was 1.39.


Vinacomin - Power Holding  (HSTC:DTK) 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.


Vinacomin - Power Holding Altman Z2-Score Related Terms


Vinacomin - Power Holding Altman Z2-Score Historical Data

* Premium members only.

The historical data trend for Vinacomin - Power Holding'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.

Vinacomin - Power Holding Altman Z2-Score Chart

Vinacomin - Power Holding Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Altman Z2-Score
0.74 1.17 1.31 1.75 2.07

Vinacomin - Power Holding Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 2.12 2.17 2.73 2.07 2.46

Vinacomin - Power Holding Altman Z2-Score Competitor Comparison

For the Utilities - Renewable subindustry, Vinacomin - Power Holding'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.


Vinacomin - Power Holding Altman Z2-Score vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Vinacomin - Power Holding's Altman Z2-Score distribution charts can be found below:

* The bar in red indicates where Vinacomin - Power Holding's Altman Z2-Score falls into.


HSTC:DTK
61GF Score
Vinacomin - Power Holding Corp HSTC:DTK
Altman Z2-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vinacomin - Power Holding 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.

Vinacomin - Power Holding'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*0.0468+3.26*0.1024+6.72*0.068+1.05*1.2996
=2.46

* 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 Mar. 2026:
Total Assets was ₫16,272,860 Mil.
Total Current Assets was ₫6,040,112 Mil.
Total Current Liabilities was ₫5,279,181 Mil.
Retained Earnings was ₫1,666,019 Mil.
Pre-Tax Income was 531823.676 + 88675.212 + -9479.2 + 355557.537 = ₫966,577 Mil.
Interest Expense was -35631.703 + -29804.973 + -31201.637 + -43878.601 = ₫-140,517 Mil.
Total Liabilities was ₫7,070,046 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
=(6040112.462 - 5279180.764)/16272859.934
=0.0468

X2=Retained Earnings/Total Assets
=1666018.973/16272859.934
=0.1024

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(966577.225 - -140516.914)/16272859.934
=0.068

X4_2=Net Worth/Total Liabilities
=(Total Stockholders Equity - Preferred Stock)/Total Liabilities
=(9188378.036 - 0)/7070046.41
=1.2996

The zones of discrimination were as such:

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

Vinacomin - Power Holding has a Altman Z2-Score of 2.46 indicating it is in Grey Zones.

Frequently Asked Questions Learn more about Altman Z2-Score →
What does a Altman Z2-Score of 2.46 mean?
Vinacomin - Power Holding (HSTC:DTK) has a Altman Z2-Score of 2.46 as of Jul. 08, 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 Vinacomin - Power Holding and its competitors. This is 77% above median its historical median of 1.39. Over the past decade, Vinacomin - Power Holding's Altman Z2-Score has ranged from 0.74 to 2.73. According to the industry distribution chart, Vinacomin - Power Holding ranks #168 out of 437 companies in the Utilities - Independent Power Producers industry, placing it in the top 38.4%.
Is Vinacomin - Power Holding's Altman Z2-Score too high?
Vinacomin - Power Holding's current Altman Z2-Score of 2.46 is 77% above median its 10-year median of 1.39. Over the past 10 years, this metric has ranged from a low of 0.74 to a high of 2.73. The Utilities - Independent Power Producers industry median Altman Z2-Score is 1.72. Vinacomin - Power Holding's value of 2.46 is 43% above this industry median. Based on the distribution chart, Vinacomin - Power Holding ranks #168 out of 437 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, Vinacomin - Power Holding has a GF Score™ of 61/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vinacomin - Power Holding's Altman Z2-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Vinacomin - Power Holding ranks #168 out of 437 companies for Altman Z2-Score. This puts Vinacomin - Power Holding in the upper half of its industry. The industry median Altman Z2-Score is 1.72. Vinacomin - Power Holding's value of 2.46 is 43% above this benchmark. Historically, Vinacomin - Power Holding's own Altman Z2-Score has ranged from 0.74 to 2.73 over the past decade. While the company's 10-year median is 1.39 vs. the industry median of 1.72, Vinacomin - Power Holding 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 437 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. Vinacomin - Power Holding's current Altman Z2-Score of 2.46 is 43% 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 Vinacomin - Power Holding 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. Vinacomin - Power Holding's current Altman Z2-Score is 2.46, which is 77% above median its own 10-year median of 1.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vinacomin - Power Holding stock overvalued right now?
Based on GuruFocus' analysis, Vinacomin - Power Holding (HSTC:DTK) is currently considered Modestly Undervalued. The stock's GF Value™ is ₫12,534.50, compared to a current price of ₫11,200.00 — trading 10.6% below its estimated fair value. The current Altman Z2-Score is 2.46, which is 77% above median its 10-year median of 1.39 and 43% above the Utilities - Independent Power Producers industry median of 1.72. Vinacomin - Power Holding's overall GF Score™ is 61/100 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 Vinacomin - Power Holding (HSTC:DTK), the current Altman Z2-Score is 2.46 as of Jul. 08, 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 Vinacomin - Power Holding (HSTC:DTK) Overvalued in 2026?

Based on GuruFocus' analysis, Vinacomin - Power Holding stock appears to be undervalued. The current stock price of ₫11,200.00 is trading 10.6% below its estimated GF Value™ of ₫12,534.50. GuruFocus considers Vinacomin - Power Holding to be Modestly Undervalued.

Key valuation signals for HSTC:DTK:

  • Altman Z2-Score: 2.46 (77% above median its 10-year median of 1.39)
  • GF Value™: ₫12,534.50 vs. price of ₫11,200.00 (10.6% below fair value)
  • GF Score™: 61/100 with 3 warning signs
  • Industry Position: 43% above the Utilities - Independent Power Producers median (#168 of 437)

No single metric tells the full story. See the HSTC:DTK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Vinacomin - Power Holding Business Description

Address No. 3 Duong Dinh Nghe Street, 16th Floor, Vinacomin Building, Yen Hoa Ward, Hanoi, VNM
Vinacomin - Power Holding Corp engages in producing, transmitting, and selling electricity, and in investing, constructing, exploiting, and operating thermal, hydropower, new energy, and renewable energy plants, along with electricity grids. Its activities include electricity trading, power transmission and distribution, managing construction investment projects for electrical works, transport by road, railway, and waterway, designing and manufacturing mechanical products and power equipment, constructing power plants, power lines, stations, and various industrial and infrastructure works, providing investment and construction consulting for power projects, producing building materials, and trading, importing, and exporting materials, equipment, and goods.
61GF Score

Get the complete analysis for HSTC:DTK

Altman Z2-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₫11,200.00
Price
₫12,534.50
GF Value