Ashmore GroupLSE:ASHM +0.46%79 Altman Z2-Score is 15.28 as of Jun. 27, 2026, which is 7% above its 10-year median of 14.29. GuruFocus rates LSE:ASHM with a GF Score™ of 79/100 and a GF Value™ of £1.44 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 707 Asset Management companies, Ashmore Group ranks better than 74.4% 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:
Ashmore Group has a Altman Z2-Score of 15.28, 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 Ashmore Group's Altman Z2-Score or its related term are showing as below:
LSE:ASHM'
s Altman Z2-Score Range Over the Past 10 Years
Min: 11.54 Med: 14.29 Max: 19.07
Current: 15.28
During the past 13 years, Ashmore Group's highest Altman Z2-Score was 19.07. The lowest was 11.54. And the median was 14.29.
Ashmore Group (LSE:ASHM) 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.
Ashmore Group Altman Z2-Score Related Terms
Ashmore Group Altman Z2-Score Historical Data
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The historical data trend for Ashmore Group'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.
LSE:ASHM vs BLK, BX, KKR: Altman Z2-Score Comparison
For the Asset Management subindustry, Ashmore Group'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.
Ashmore Group Altman Z2-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Ashmore Group's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Ashmore Group'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.
Ashmore Group'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
*
0.6958
+
3.26
*
0.8914
+
6.72
*
0.1199
+
1.05
*
6.6718
=
15.28
* 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.
Ashmore Group (LSE:ASHM) has a Altman Z2-Score of 15.28 as of Jun. 27, 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 Ashmore Group and its competitors. This is near median its historical median of 14.29. Over the past decade, Ashmore Group's Altman Z2-Score has ranged from 11.54 to 19.07. According to the industry distribution chart, Ashmore Group ranks #181 out of 707 companies in the Asset Management industry, placing it in the top 25.6%.
Is Ashmore Group's Altman Z2-Score too high?
Ashmore Group's current Altman Z2-Score of 15.28 is near median its 10-year median of 14.29. Over the past 10 years, this metric has ranged from a low of 11.54 to a high of 19.07. The Asset Management industry median Altman Z2-Score is 6.10. Ashmore Group's value of 15.28 is 150.5% above this industry median. Based on the distribution chart, Ashmore Group ranks #181 out of 707 companies in the Asset Management industry, which is above the industry midpoint. Overall, Ashmore Group has a GF Score™ of 79/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ashmore Group's Altman Z2-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Ashmore Group ranks #181 out of 707 companies for Altman Z2-Score. This puts Ashmore Group in the upper half of its industry. The industry median Altman Z2-Score is 6.10. Ashmore Group's value of 15.28 is 150.5% above this benchmark. Historically, Ashmore Group's own Altman Z2-Score has ranged from 11.54 to 19.07 over the past decade. While the company's 10-year median is 14.29 vs. the industry median of 6.10, Ashmore Group 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 Asset Management company?
The median Altman Z2-Score among Asset Management companies is 6.10, based on 707 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. Ashmore Group's current Altman Z2-Score of 15.28 is 150.5% 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 Ashmore Group and its competitors. For the Asset Management industry, the median Altman Z2-Score is 6.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ashmore Group's current Altman Z2-Score is 15.28, which is near median its own 10-year median of 14.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ashmore Group stock overvalued right now?
Based on GuruFocus' analysis, Ashmore Group (LSE:ASHM) is currently considered Significantly Overvalued. The stock's GF Value™ is £1.44, compared to a current price of £1.95 — trading 35.6% above its estimated fair value. The current Altman Z2-Score is 15.28, which is near median its 10-year median of 14.29 and 150.5% above the Asset Management industry median of 6.10. Ashmore Group's overall GF Score™ is 79/100 with 6 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 Ashmore Group (LSE:ASHM), the current Altman Z2-Score is 15.28 as of Jun. 27, 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 Ashmore Group (LSE:ASHM) Overvalued in 2026?
Based on GuruFocus' analysis, Ashmore Group stock appears to be overvalued.
The current stock price of £1.95 is trading 35.6% above its estimated GF Value™ of £1.44.
GuruFocus considers Ashmore Group to be Significantly Overvalued.
Key valuation signals for LSE:ASHM:
Altman Z2-Score: 15.28 (near median its 10-year median of 14.29)
GF Value™: £1.44 vs. price of £1.95 (35.6% above fair value)
Industry Position: 150.5% above the Asset Management median (#181 of 707)
No single metric tells the full story. See the LSE:ASHM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ashmore Group PLC is a value-oriented asset management firm that focuses its investments on emerging markets. It offers a diverse range of both traditional and alternative investment strategies to its client base globally, including both institutional and retail investors. The company invests in sovereign debt instruments, currencies, corporate debt, equities, derivatives, private equity, real estate, distressed debt, and other special situations. The firm reports on changes in assets under management as the majority of its revenue is derived from management fees. The company also benefits from performance fees on its investments. Geographically, the group derives maximum revenue from the United Kingdom and Ireland, followed by the Americas, and Asia and the Middle East.
79GF Score
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