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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:
Henan Thinker Automatic Equipment Co has a Altman Z2-Score of 22.45, 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.
Henan Thinker Automatic Equipment Co (SHSE:603508) 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.
Henan Thinker Automatic Equipment Co Altman Z2-Score Chart
SHSE:603508 vs COHR, KEYS, GRMN: Altman Z2-Score Comparison
For the Scientific & Technical Instruments subindustry, Henan Thinker Automatic Equipment 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.
Henan Thinker Automatic Equipment Co Altman Z2-Score vs Hardware Industry
Henan Thinker Automatic Equipment 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.
Henan Thinker Automatic Equipment Co (SHSE:603508) has a Altman Z2-Score of 22.45 as of Aug. 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 Henan Thinker Automatic Equipment Co and its competitors. This is near median its historical median of 21.07. Over the past decade, Henan Thinker Automatic Equipment Co's Altman Z2-Score has ranged from 10.74 to 25.92. According to the industry distribution chart, Henan Thinker Automatic Equipment Co ranks #34 out of 2460 companies in the Hardware industry, placing it in the top 1.4%.
Is Henan Thinker Automatic Equipment Co's Altman Z2-Score too high?
Henan Thinker Automatic Equipment Co's current Altman Z2-Score of 22.45 is near median its 10-year median of 21.07. Over the past 10 years, this metric has ranged from a low of 10.74 to a high of 25.92. The Hardware industry median Altman Z2-Score is 4.03. Henan Thinker Automatic Equipment Co's value of 22.45 is 457.8% above this industry median. Based on the distribution chart, Henan Thinker Automatic Equipment Co ranks #34 out of 2460 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Henan Thinker Automatic Equipment Co has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Henan Thinker Automatic Equipment Co's Altman Z2-Score compare to COHR and KEYS?
According to the Hardware industry distribution chart, Henan Thinker Automatic Equipment Co ranks #34 out of 2460 companies for Altman Z2-Score. This places Henan Thinker Automatic Equipment Co in the top 1% of its industry — outperforming the majority of peers. The industry median Altman Z2-Score is 4.03. Henan Thinker Automatic Equipment Co's value of 22.45 is 457.8% above this benchmark. Historically, Henan Thinker Automatic Equipment Co's own Altman Z2-Score has ranged from 10.74 to 25.92 over the past decade. While the company's 10-year median is 21.07 vs. the industry median of 4.03, Henan Thinker Automatic Equipment Co 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 Hardware company?
The median Altman Z2-Score among Hardware companies is 4.03, based on 2,460 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. Henan Thinker Automatic Equipment Co's current Altman Z2-Score of 22.45 is 457.8% 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 Henan Thinker Automatic Equipment Co and its competitors. For the Hardware industry, the median Altman Z2-Score is 4.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Henan Thinker Automatic Equipment Co's current Altman Z2-Score is 22.45, which is near median its own 10-year median of 21.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Henan Thinker Automatic Equipment Co stock overvalued right now?
Based on GuruFocus' analysis, Henan Thinker Automatic Equipment Co (SHSE:603508) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥27.45, compared to a current price of ¥21.50 — trading 21.7% below its estimated fair value. The current Altman Z2-Score is 22.45, which is near median its 10-year median of 21.07 and 457.8% above the Hardware industry median of 4.03. Henan Thinker Automatic Equipment Co's overall GF Score™ is 75/100 with 2 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 Henan Thinker Automatic Equipment Co (SHSE:603508), the current Altman Z2-Score is 22.45 as of Aug. 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 Henan Thinker Automatic Equipment Co (SHSE:603508) Overvalued in 2026?
Based on GuruFocus' analysis, Henan Thinker Automatic Equipment Co stock appears to be undervalued.
The current stock price of ¥21.50 is trading 21.7% below its estimated GF Value™ of ¥27.45.
GuruFocus considers Henan Thinker Automatic Equipment Co to be Modestly Undervalued.
Key valuation signals for SHSE:603508:
Altman Z2-Score: 22.45 (near median its 10-year median of 21.07)
GF Value™: ¥27.45 vs. price of ¥21.50 (21.7% below fair value)
Industry Position: 457.8% above the Hardware median (#34 of 2460)
No single metric tells the full story. See the SHSE:603508 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Henan Thinker Automatic Equipment Co Ltd is engaged in Software and IT services. Its products include LKJ2000 train running monitor device, Wireless Shunting Locomotive Signaling and monitoring systems, and among others.
75GF Score
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