Secure Electronic Technology (NSA:NSLTECH) Altman Z2-Score: 2.06 (As of Jul. 01, 2026) — Near Median

Q: What does a Altman Z2-Score of 2.06 mean?

Secure Electronic Technology (NSA:NSLTECH) has a Altman Z2-Score of 2.06 as of Jul. 01, 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 Secure Electronic Technology and its competitors. This is near median its historical median of 2.15. According to the industry distribution chart, Secure Electronic Technology ranks #462 out of 851 companies in the Travel & Leisure industry, placing it in the top 54.3%.

Q: Is Secure Electronic Technology's Altman Z2-Score too high?

Secure Electronic Technology's current Altman Z2-Score of 2.06 is near median its 10-year median of 2.15. The Travel & Leisure industry median Altman Z2-Score is 2.48. Secure Electronic Technology's value of 2.06 is 16.9% below this industry median. Based on the distribution chart, Secure Electronic Technology ranks #462 out of 851 companies in the Travel & Leisure industry, which is below the industry midpoint. Overall, Secure Electronic Technology has a GF Score™ of 10/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

Q: How does Secure Electronic Technology's Altman Z2-Score compare to FLUT and DKNG?

According to the Travel & Leisure industry distribution chart, Secure Electronic Technology ranks #462 out of 851 companies for Altman Z2-Score. This places Secure Electronic Technology in the lower half of its industry. The industry median Altman Z2-Score is 2.48. Secure Electronic Technology's value of 2.06 is 16.9% below this benchmark. While the company's 10-year median is 2.15 vs. the industry median of 2.48, Secure Electronic Technology has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

Q: What is a good Altman Z2-Score for a Travel & Leisure company?

The median Altman Z2-Score among Travel & Leisure companies is 2.48, based on 851 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. Secure Electronic Technology's current Altman Z2-Score of 2.06 is 16.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

Q: 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 Secure Electronic Technology and its competitors. For the Travel & Leisure industry, the median Altman Z2-Score is 2.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Secure Electronic Technology's current Altman Z2-Score is 2.06, which is near median its own 10-year median of 2.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Q: Is Secure Electronic Technology stock overvalued right now?

Based on GuruFocus' analysis, Secure Electronic Technology (NSA:NSLTECH) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦0.36, compared to a current price of ₦0.75 — trading 108.3% above its estimated fair value. The current Altman Z2-Score is 2.06, which is near median its 10-year median of 2.15 and 16.9% below the Travel & Leisure industry median of 2.48. Secure Electronic Technology's overall GF Score™ is 10/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

Q: How is Altman Z2-Score calculated?

Altman Z2-Score is calculated from a company's financial statements. For Secure Electronic Technology (NSA:NSLTECH), the current Altman Z2-Score is 2.06 as of Jul. 01, 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.

Secure Electronic Technology PLC NSA:NSLTECH

10 GF Score

Price ₦0.75

GF Value ₦0.36

Valuation Significantly Overvalued

1 Warning Sign

View Full Analysis

What is Secure Electronic Technology Altman Z2-Score?

Secure Electronic Technology NSA:NSLTECH -1.32% 10 Altman Z2-Score is 2.06 as of Jul. 01, 2026, which is 4% below its 10-year median of 2.15. GuruFocus rates NSA:NSLTECH with a GF Score™ of 10/100 and a GF Value™ of ₦0.36 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 851 Travel & Leisure companies, Secure Electronic Technology ranks worse than 54.29% 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.

Secure Electronic Technology has a Altman Z2-Score of 2.06, indicating it is in Grey Zones. This implies that Secure Electronic Technology 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 Secure Electronic Technology's Altman Z2-Score or its related term are showing as below:

NSA:NSLTECH' s Altman Z2-Score Range Over the Past 10 Years
Min: -0.67 Med: 2.15 Max: 2.27
Current: 2.06

During the past 4 years, Secure Electronic Technology's highest Altman Z2-Score was 2.27. The lowest was -0.67. And the median was 2.15.

Secure Electronic Technology (NSA:NSLTECH) 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.

Be Aware

Altman Z2-Score does not apply to financial companies.

Secure Electronic Technology Altman Z2-Score Related Terms

Secure Electronic Technology Altman Z2-Score Historical Data

* Premium members only.

The historical data trend for Secure Electronic Technology'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.

Secure Electronic Technology Altman Z2-Score Chart

Secure Electronic Technology Annual Data

Trend

Dec21

Dec22

Dec23

Dec24

Altman Z2-Score

2.27

2.23

-0.67

2.06

Secure Electronic Technology Semi-Annual Data
	Dec21	Dec22	Dec23	Dec24
Altman Z2-Score	2.27	2.23	-0.67	2.06

NSA:NSLTECH vs FLUT, DKNG, SGHC: Altman Z2-Score Comparison

For the Gambling subindustry, Secure Electronic Technology'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.

Secure Electronic Technology Altman Z2-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Secure Electronic Technology's Altman Z2-Score distribution charts can be found below:

* The bar in red indicates where Secure Electronic Technology's Altman Z2-Score falls into.

Save Embed

10GF Score

Secure Electronic Technology PLC NSA:NSLTECH

Altman Z2-Score is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Secure Electronic Technology 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.

Secure Electronic Technology's Altman Z2-Score for today is calculated with this formula:

6.56

3.26

6.72

1.05

X4_2

6.56

-0.0795

3.26

-0.5304

6.72

-0.0181

1.05

4.2192

2.06

Trailing Twelve Months (TTM) ended in Dec. 2024:
Total Assets was ₦4,838 Mil.
Total Current Assets was ₦231 Mil.
Total Current Liabilities was ₦616 Mil.
Retained Earnings was ₦-2,566 Mil.
Pre-Tax Income was ₦-92 Mil.
Interest Expense was ₦-4 Mil.
Total Liabilities was ₦927 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
	=	(231.484 - 616.237)	/	4837.563
	=	-0.0795

X2	=	Retained Earnings	/	Total Assets
	=	-2565.647	/	4837.563
	=	-0.5304

X3	=	Earnings Before Interest and Taxes	/	Total Assets
	=	(Pre-Tax Income - Interest Expense)	/	Total Assets
	=	(-91.503 - -3.8)	/	4837.563
	=	-0.0181

X4_2	=	Net Worth	/	Total Liabilities
	=	(Total Stockholders Equity - Preferred Stock)	/	Total Liabilities
	=	(3910.676 - 0)	/	926.887
	=	4.2192

The zones of discrimination were as such:

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

Secure Electronic Technology has a Altman Z2-Score of 2.06 indicating it is in Grey Zones.

Frequently Asked Questions Learn more about Altman Z2-Score →

What does a Altman Z2-Score of 2.06 mean?

Secure Electronic Technology (NSA:NSLTECH) has a Altman Z2-Score of 2.06 as of Jul. 01, 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 Secure Electronic Technology and its competitors. This is near median its historical median of 2.15. According to the industry distribution chart, Secure Electronic Technology ranks #462 out of 851 companies in the Travel & Leisure industry, placing it in the top 54.3%.

Is Secure Electronic Technology's Altman Z2-Score too high?

Secure Electronic Technology's current Altman Z2-Score of 2.06 is near median its 10-year median of 2.15. The Travel & Leisure industry median Altman Z2-Score is 2.48. Secure Electronic Technology's value of 2.06 is 16.9% below this industry median. Based on the distribution chart, Secure Electronic Technology ranks #462 out of 851 companies in the Travel & Leisure industry, which is below the industry midpoint. Overall, Secure Electronic Technology has a GF Score™ of 10/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Secure Electronic Technology's Altman Z2-Score compare to FLUT and DKNG?

According to the Travel & Leisure industry distribution chart, Secure Electronic Technology ranks #462 out of 851 companies for Altman Z2-Score. This places Secure Electronic Technology in the lower half of its industry. The industry median Altman Z2-Score is 2.48. Secure Electronic Technology's value of 2.06 is 16.9% below this benchmark. While the company's 10-year median is 2.15 vs. the industry median of 2.48, Secure Electronic Technology has consistently been below 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 a Travel & Leisure company?

The median Altman Z2-Score among Travel & Leisure companies is 2.48, based on 851 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. Secure Electronic Technology's current Altman Z2-Score of 2.06 is 16.9% below 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 Secure Electronic Technology and its competitors. For the Travel & Leisure industry, the median Altman Z2-Score is 2.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Secure Electronic Technology's current Altman Z2-Score is 2.06, which is near median its own 10-year median of 2.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Secure Electronic Technology stock overvalued right now?

Based on GuruFocus' analysis, Secure Electronic Technology (NSA:NSLTECH) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦0.36, compared to a current price of ₦0.75 — trading 108.3% above its estimated fair value. The current Altman Z2-Score is 2.06, which is near median its 10-year median of 2.15 and 16.9% below the Travel & Leisure industry median of 2.48. Secure Electronic Technology's overall GF Score™ is 10/100 with 1 warning sign 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 Secure Electronic Technology (NSA:NSLTECH), the current Altman Z2-Score is 2.06 as of Jul. 01, 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 Secure Electronic Technology (NSA:NSLTECH) Overvalued in 2026?

Based on GuruFocus' analysis, Secure Electronic Technology stock appears to be overvalued. The current stock price of ₦0.75 is trading 108.3% above its estimated GF Value™ of ₦0.36. GuruFocus considers Secure Electronic Technology to be Significantly Overvalued.

Key valuation signals for NSA:NSLTECH:

Altman Z2-Score: 2.06 (near median its 10-year median of 2.15)
GF Value™: ₦0.36 vs. price of ₦0.75 (108.3% above fair value)
GF Score™: 10/100 with 1 warning sign
Industry Position: 16.9% below the Travel & Leisure median (#462 of 851)

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