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Honeywell Automation IndiaNSE:HONAUT -0.41%89 Altman Z2-Score is 10.02 as of Jul. 15, 2026, which is 10% above its 10-year median of 9.14. GuruFocus rates NSE:HONAUT with a GF Score™ of 89/100 and a GF Value™ of ₹46,742.41 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 3,038 Industrial Products companies, Honeywell Automation India ranks better than 89.76% 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:
Honeywell Automation India has a Altman Z2-Score of 10.02, 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 Honeywell Automation India's Altman Z2-Score or its related term are showing as below:
NSE:HONAUT'
s Altman Z2-Score Range Over the Past 10 Years
Min: 7.04 Med: 9.14 Max: 10.58
Current: 10.02
During the past 13 years, Honeywell Automation India's highest Altman Z2-Score was 10.58. The lowest was 7.04. And the median was 9.14.
Honeywell Automation India (NSE:HONAUT) 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.
* 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.
For the Electrical Equipment & Parts subindustry, Honeywell Automation India'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.
Honeywell Automation India Altman Z2-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Honeywell Automation India's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Honeywell Automation India's Altman Z2-Score falls into.
Honeywell Automation India 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.
* 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.
Honeywell Automation India (NSE:HONAUT) has a Altman Z2-Score of 10.02 as of Jul. 15, 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 Honeywell Automation India and its competitors. This is 10% above median its historical median of 9.14. Over the past decade, Honeywell Automation India's Altman Z2-Score has ranged from 7.04 to 10.58. According to the industry distribution chart, Honeywell Automation India ranks #311 out of 3038 companies in the Industrial Products industry, placing it in the top 10.2%.
Is Honeywell Automation India's Altman Z2-Score too high?
Honeywell Automation India's current Altman Z2-Score of 10.02 is 10% above median its 10-year median of 9.14. Over the past 10 years, this metric has ranged from a low of 7.04 to a high of 10.58. The Industrial Products industry median Altman Z2-Score is 4.28. Honeywell Automation India's value of 10.02 is 134.1% above this industry median. Based on the distribution chart, Honeywell Automation India ranks #311 out of 3038 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Honeywell Automation India has a GF Score™ of 89/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Honeywell Automation India's Altman Z2-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Honeywell Automation India ranks #311 out of 3038 companies for Altman Z2-Score. This places Honeywell Automation India in the top 10% of its industry — outperforming the majority of peers. The industry median Altman Z2-Score is 4.28. Honeywell Automation India's value of 10.02 is 134.1% above this benchmark. Historically, Honeywell Automation India's own Altman Z2-Score has ranged from 7.04 to 10.58 over the past decade. While the company's 10-year median is 9.14 vs. the industry median of 4.28, Honeywell Automation India 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. Honeywell Automation India's current Altman Z2-Score of 10.02 is 134.1% 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 Honeywell Automation India 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. Honeywell Automation India's current Altman Z2-Score is 10.02, which is 10% above median its own 10-year median of 9.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Honeywell Automation India stock overvalued right now?
Based on GuruFocus' analysis, Honeywell Automation India (NSE:HONAUT) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹46,742.41, compared to a current price of ₹38,060.00 — trading 18.6% below its estimated fair value. The current Altman Z2-Score is 10.02, which is 10% above median its 10-year median of 9.14 and 134.1% above the Industrial Products industry median of 4.28. Honeywell Automation India's overall GF Score™ is 89/100 with 7 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 Honeywell Automation India (NSE:HONAUT), the current Altman Z2-Score is 10.02 as of Jul. 15, 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 Honeywell Automation India (NSE:HONAUT) Overvalued in 2026?
Based on GuruFocus' analysis, Honeywell Automation India stock appears to be undervalued.
The current stock price of ₹38,060.00 is trading 18.6% below its estimated GF Value™ of ₹46,742.41.
GuruFocus considers Honeywell Automation India to be Modestly Undervalued.
Key valuation signals for NSE:HONAUT:
Altman Z2-Score: 10.02 (10% above median its 10-year median of 9.14)
GF Value™: ₹46,742.41 vs. price of ₹38,060.00 (18.6% below fair value)
Industry Position: 134.1% above the Industrial Products median (#311 of 3038)
No single metric tells the full story. See the NSE:HONAUT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Honeywell Automation India Ltd provides automation and control systems in India and internationally. The company offers distributed control systems, transmitters, programmable logic controllers, emergency shutdown systems, quality control systems, software solutions, industrial Internet of Things solutions, and comprehensive life cycle services. It also provides building management systems, fire detection and alarm systems, access control systems, video surveillance systems, integrated security systems, and integrated building management systems. The company operates in a single segment, Automation and Control Systems, and derives a majority of its revenue from India.
89GF Score
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