Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Finolex CablesNSE:FINCABLES +0.37%99 Altman Z2-Score is 10.88 as of Jul. 14, 2026, which is 24% below its 10-year median of 14.30. GuruFocus rates NSE:FINCABLES with a GF Score™ of 99/100 and a GF Value™ of ₹1,283.07 (Modestly Undervalued). The stock has 9 warning signs investors should review. Among 3,038 Industrial Products companies, Finolex Cables ranks better than 91.8% 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:
Finolex Cables has a Altman Z2-Score of 10.88, 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 Finolex Cables's Altman Z2-Score or its related term are showing as below:
NSE:FINCABLES'
s Altman Z2-Score Range Over the Past 10 Years
Min: 10.88 Med: 14.3 Max: 14.68
Current: 10.88
During the past 13 years, Finolex Cables's highest Altman Z2-Score was 14.68. The lowest was 10.88. And the median was 14.30.
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.
Finolex Cables Altman Z2-Score Related Terms
Finolex Cables Altman Z2-Score Historical Data
* Premium members only.
The historical data trend for Finolex Cables'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.
NSE:FINCABLES vs VRT, BE: Altman Z2-Score Comparison
For the Electrical Equipment & Parts subindustry, Finolex Cables'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.
Finolex Cables Altman Z2-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Finolex Cables's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Finolex Cables'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.
Finolex Cables'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
*
0.4453
+
3.26
*
0
+
6.72
*
0.1331
+
1.05
*
6.7316
=
10.88
* 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.
Finolex Cables (NSE:FINCABLES) has a Altman Z2-Score of 10.88 as of Jul. 14, 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 Finolex Cables and its competitors. This is 24% below median its historical median of 14.30. Over the past decade, Finolex Cables' Altman Z2-Score has ranged from 10.88 to 14.68. According to the industry distribution chart, Finolex Cables ranks #249 out of 3038 companies in the Industrial Products industry, placing it in the top 8.2%.
Is Finolex Cables' Altman Z2-Score too high?
Finolex Cables' current Altman Z2-Score of 10.88 is 24% below median its 10-year median of 14.30. Over the past 10 years, this metric has ranged from a low of 10.88 to a high of 14.68. The Industrial Products industry median Altman Z2-Score is 4.28. Finolex Cables' value of 10.88 is 154.2% above this industry median. Based on the distribution chart, Finolex Cables ranks #249 out of 3038 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Finolex Cables has a GF Score™ of 99/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Finolex Cables' Altman Z2-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Finolex Cables ranks #249 out of 3038 companies for Altman Z2-Score. This places Finolex Cables in the top 8% of its industry — outperforming the majority of peers. The industry median Altman Z2-Score is 4.28. Finolex Cables' value of 10.88 is 154.2% above this benchmark. Historically, Finolex Cables' own Altman Z2-Score has ranged from 10.88 to 14.68 over the past decade. While the company's 10-year median is 14.30 vs. the industry median of 4.28, Finolex Cables 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 Industrial Products company?
The median Altman Z2-Score among Industrial Products companies is 4.28, based on 3,038 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. Finolex Cables's current Altman Z2-Score of 10.88 is 154.2% 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 Finolex Cables and its competitors. For the Industrial Products industry, the median Altman Z2-Score is 4.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Finolex Cables's current Altman Z2-Score is 10.88, which is 24% below median its own 10-year median of 14.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Finolex Cables stock overvalued right now?
Based on GuruFocus' analysis, Finolex Cables (NSE:FINCABLES) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹1,283.07, compared to a current price of ₹1,058.40 — trading 17.5% below its estimated fair value. The current Altman Z2-Score is 10.88, which is 24% below median its 10-year median of 14.30 and 154.2% above the Industrial Products industry median of 4.28. Finolex Cables' overall GF Score™ is 99/100 with 9 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 Finolex Cables (NSE:FINCABLES), the current Altman Z2-Score is 10.88 as of Jul. 14, 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 Finolex Cables (NSE:FINCABLES) Overvalued in 2026?
Based on GuruFocus' analysis, Finolex Cables stock appears to be undervalued.
The current stock price of ₹1,058.40 is trading 17.5% below its estimated GF Value™ of ₹1,283.07.
GuruFocus considers Finolex Cables to be Modestly Undervalued.
Key valuation signals for NSE:FINCABLES:
Altman Z2-Score: 10.88 (24% below median its 10-year median of 14.30)
GF Value™: ₹1,283.07 vs. price of ₹1,058.40 (17.5% below fair value)
Industry Position: 154.2% above the Industrial Products median (#249 of 3038)
No single metric tells the full story. See the NSE:FINCABLES stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Finolex Cables Ltd is an electronic components company. The operating segments of the group are Electrical cables, Communication cables, Copper rods, and Others - Trading of Electrical and other goods. It derives a majority of its revenue from the Electrical cables segment. The group offers products like wires and cables, optical fibre cables, switches, LED lightings, fans, MCBs, water heaters, and other products. Geographically, the company caters to both the Indian and the international markets of which, a majority of its revenue is derived from its business in India.
99GF Score
Get the complete analysis for NSE:FINCABLES
Altman Z2-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:FINCABLES has been successfully added to your 
