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Forward Electronics CoROCO:8085 -4.24%44 Altman Z2-Score is 3.37 as of Jul. 14, 2026, which is 2% below its 10-year median of 3.45. GuruFocus rates ROCO:8085 with a GF Score™ of 44/100 and a GF Value™ of NT$29.93 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 2,487 Hardware companies, Forward Electronics Co ranks worse than 58.3% 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:
Forward Electronics Co has a Altman Z2-Score of 3.37, 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 Forward Electronics Co's Altman Z2-Score or its related term are showing as below:
ROCO:8085'
s Altman Z2-Score Range Over the Past 10 Years
Min: 1.52 Med: 3.45 Max: 4.71
Current: 3.37
During the past 13 years, Forward Electronics Co's highest Altman Z2-Score was 4.71. The lowest was 1.52. And the median was 3.45.
Forward Electronics Co (ROCO:8085) 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.
Forward Electronics Co Altman Z2-Score Related Terms
Forward Electronics Co Altman Z2-Score Historical Data
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The historical data trend for Forward Electronics Co'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.
For the Electronic Components subindustry, Forward Electronics Co'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.
Forward Electronics Co Altman Z2-Score vs Hardware Industry
For the Hardware industry and Technology sector, Forward Electronics Co's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Forward Electronics Co's Altman Z2-Score falls into.
Forward Electronics Co 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.
Forward Electronics Co (ROCO:8085) has a Altman Z2-Score of 3.37 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 Forward Electronics Co and its competitors. This is near median its historical median of 3.45. Over the past decade, Forward Electronics Co's Altman Z2-Score has ranged from 1.52 to 4.71. According to the industry distribution chart, Forward Electronics Co ranks #1450 out of 2487 companies in the Hardware industry, placing it in the top 58.3%.
Is Forward Electronics Co's Altman Z2-Score too high?
Forward Electronics Co's current Altman Z2-Score of 3.37 is near median its 10-year median of 3.45. Over the past 10 years, this metric has ranged from a low of 1.52 to a high of 4.71. The Hardware industry median Altman Z2-Score is 4.09. Forward Electronics Co's value of 3.37 is 17.6% below this industry median. Based on the distribution chart, Forward Electronics Co ranks #1450 out of 2487 companies in the Hardware industry, which is below the industry midpoint. Overall, Forward Electronics Co has a GF Score™ of 44/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Forward Electronics Co's Altman Z2-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Forward Electronics Co ranks #1450 out of 2487 companies for Altman Z2-Score. This places Forward Electronics Co in the lower half of its industry. The industry median Altman Z2-Score is 4.09. Forward Electronics Co's value of 3.37 is 17.6% below this benchmark. Historically, Forward Electronics Co's own Altman Z2-Score has ranged from 1.52 to 4.71 over the past decade. While the company's 10-year median is 3.45 vs. the industry median of 4.09, Forward Electronics Co 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 Hardware company?
The median Altman Z2-Score among Hardware companies is 4.09, based on 2,487 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. Forward Electronics Co's current Altman Z2-Score of 3.37 is 17.6% 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 Forward Electronics Co and its competitors. For the Hardware industry, the median Altman Z2-Score is 4.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forward Electronics Co's current Altman Z2-Score is 3.37, which is near median its own 10-year median of 3.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forward Electronics Co stock overvalued right now?
Based on GuruFocus' analysis, Forward Electronics Co (ROCO:8085) is currently considered Possible Value Trap. The stock's GF Value™ is NT$29.93, compared to a current price of NT$11.30 — trading 62.2% below its estimated fair value. The current Altman Z2-Score is 3.37, which is near median its 10-year median of 3.45 and 17.6% below the Hardware industry median of 4.09. Forward Electronics Co's overall GF Score™ is 44/100 with 4 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 Forward Electronics Co (ROCO:8085), the current Altman Z2-Score is 3.37 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 Forward Electronics Co (ROCO:8085) Overvalued in 2026?
Based on GuruFocus' analysis, Forward Electronics Co stock appears to be undervalued.
The current stock price of NT$11.30 is trading 62.2% below its estimated GF Value™ of NT$29.93.
GuruFocus considers Forward Electronics Co to be Possible Value Trap.
Key valuation signals for ROCO:8085:
Altman Z2-Score: 3.37 (near median its 10-year median of 3.45)
GF Value™: NT$29.93 vs. price of NT$11.30 (62.2% below fair value)
Industry Position: 17.6% below the Hardware median (#1450 of 2487)
No single metric tells the full story. See the ROCO:8085 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forward Electronics Co Ltd is engaged in the manufacturing, development, and sales of backlight modules, liquid crystal display modules, switches, variable resistors, sensors, and bit generators, Produces peripheral products for information appliances, including game consoles, vehicle anti-collision systems, and lighting products as well as carbon credits development, carbon neutral consulting, and energy storage solutions. Company has divided its business into three segments Optoelectronic segment, Electronics components products segment and Electronics applications products segment. Geographically, company has it's presence in Mainland China, Taiwan and others.
44GF Score
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