Raytech HoldingRAY -2.92%24 Altman Z2-Score is 11.92 as of Jul. 13, 2026, which is 8% above its 10-year median of 11.06. GuruFocus rates RAY with a GF Score™ of 24/100. The stock has 1 warning sign investors should review. Among 1,967 Consumer Packaged Goods companies, Raytech Holding ranks better than 92.48% 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:
Raytech Holding has a Altman Z2-Score of 11.92, 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 Raytech Holding's Altman Z2-Score or its related term are showing as below:
RAY'
s Altman Z2-Score Range Over the Past 10 Years
Min: 7.33 Med: 11.06 Max: 13.1
Current: 11.92
During the past 5 years, Raytech Holding's highest Altman Z2-Score was 13.10. The lowest was 7.33. And the median was 11.06.
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.
Raytech Holding Altman Z2-Score Related Terms
Raytech Holding Altman Z2-Score Historical Data
* Premium members only.
The historical data trend for Raytech 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.
RAY vs DQWS, PURE, TANH: Altman Z2-Score Comparison
For the Household & Personal Products subindustry, Raytech 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.
Raytech Holding Altman Z2-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Raytech Holding's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Raytech Holding'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.
Raytech 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
*
0.8109
+
3.26
*
0.4136
+
6.72
*
0.1109
+
1.05
*
4.2917
=
11.92
* 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.
Raytech Holding (RAY) has a Altman Z2-Score of 11.92 as of Jul. 13, 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 Raytech Holding and its competitors. This is near median its historical median of 11.06. Over the past decade, Raytech Holding's Altman Z2-Score has ranged from 7.33 to 13.10. According to the industry distribution chart, Raytech Holding ranks #148 out of 1967 companies in the Consumer Packaged Goods industry, placing it in the top 7.5%.
Is Raytech Holding's Altman Z2-Score too high?
Raytech Holding's current Altman Z2-Score of 11.92 is near median its 10-year median of 11.06. Over the past 10 years, this metric has ranged from a low of 7.33 to a high of 13.10. The Consumer Packaged Goods industry median Altman Z2-Score is 3.73. Raytech Holding's value of 11.92 is 219.6% above this industry median. Based on the distribution chart, Raytech Holding ranks #148 out of 1967 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Raytech Holding has a GF Score™ of 24/100, reflecting its overall financial health beyond just this single metric.
How does Raytech Holding's Altman Z2-Score compare to DQWS and PURE?
According to the Consumer Packaged Goods industry distribution chart, Raytech Holding ranks #148 out of 1967 companies for Altman Z2-Score. This places Raytech Holding in the top 8% of its industry — outperforming the majority of peers. The industry median Altman Z2-Score is 3.73. Raytech Holding's value of 11.92 is 219.6% above this benchmark. Historically, Raytech Holding's own Altman Z2-Score has ranged from 7.33 to 13.10 over the past decade. While the company's 10-year median is 11.06 vs. the industry median of 3.73, Raytech 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 a Consumer Packaged Goods company?
The median Altman Z2-Score among Consumer Packaged Goods companies is 3.73, based on 1,967 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. Raytech Holding's current Altman Z2-Score of 11.92 is 219.6% 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 Raytech Holding and its competitors. For the Consumer Packaged Goods industry, the median Altman Z2-Score is 3.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Raytech Holding's current Altman Z2-Score is 11.92, which is near median its own 10-year median of 11.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Raytech Holding stock overvalued right now?
Raytech Holding (RAY) has a current Altman Z2-Score of 11.92. The current Altman Z2-Score is 11.92, which is near median its 10-year median of 11.06 and 219.6% above the Consumer Packaged Goods industry median of 3.73. Raytech Holding's overall GF Score™ is 24/100 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 Raytech Holding (RAY), the current Altman Z2-Score is 11.92 as of Jul. 13, 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.
Raytech Holding Ltd is principally engaged in product designing and manufacturing of various product ranges such as Hair Care, Men's Care and Women's Care products. It has sourced and wholesaled a wide range of personal care electrical appliances, which can be broadly classified into seven categories: hair styling series, including hair dryer, hair straightener and curling iron; trimmer series, including facial shaver, nose trimmer and eyebrow trimmer; eyelash curler; neck care series; nail care series; tooling and other personal care appliances such as body and facial brush, reset brush, callus remover, sonic peeling, handy fan and others. Raytech manufactures products under OEM and ODM.
24GF Score
Get the complete analysis for RAY
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
RAY has been successfully added to your 
