Spanish Mountain GoldSPAUF +0.99%30 Altman Z2-Score is 37.27 as of Jun. 30, 2026, which is 40% below its 10-year median of 61.77. GuruFocus rates SPAUF with a GF Score™ of 30/100. The stock has 1 warning sign investors should review. Among 2,614 Metals & Mining companies, Spanish Mountain Gold ranks better than 89.56% 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:
Spanish Mountain Gold has a Altman Z2-Score of 37.27, 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 Spanish Mountain Gold's Altman Z2-Score or its related term are showing as below:
SPAUF'
s Altman Z2-Score Range Over the Past 10 Years
Min: 25.96 Med: 61.77 Max: 225.32
Current: 37.26
During the past 13 years, Spanish Mountain Gold's highest Altman Z2-Score was 225.32. The lowest was 25.96. And the median was 61.77.
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.
Spanish Mountain Gold Altman Z2-Score Related Terms
Spanish Mountain Gold Altman Z2-Score Historical Data
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The historical data trend for Spanish Mountain Gold'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 Gold subindustry, Spanish Mountain Gold'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.
Spanish Mountain Gold Altman Z2-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Spanish Mountain Gold's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Spanish Mountain Gold'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.
* 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.
Spanish Mountain Gold (SPAUF) has a Altman Z2-Score of 37.27 as of Jun. 30, 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 Spanish Mountain Gold and its competitors. This is 40% below median its historical median of 61.77. Over the past decade, Spanish Mountain Gold's Altman Z2-Score has ranged from 25.96 to 225.32. According to the industry distribution chart, Spanish Mountain Gold ranks #273 out of 2614 companies in the Metals & Mining industry, placing it in the top 10.4%.
Is Spanish Mountain Gold's Altman Z2-Score too high?
Spanish Mountain Gold's current Altman Z2-Score of 37.27 is 40% below median its 10-year median of 61.77. Over the past 10 years, this metric has ranged from a low of 25.96 to a high of 225.32. The Metals & Mining industry median Altman Z2-Score is 2.16. Spanish Mountain Gold's value of 37.27 is 1629.5% above this industry median. Based on the distribution chart, Spanish Mountain Gold ranks #273 out of 2614 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Spanish Mountain Gold has a GF Score™ of 30/100, reflecting its overall financial health beyond just this single metric.
How does Spanish Mountain Gold's Altman Z2-Score compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Spanish Mountain Gold ranks #273 out of 2614 companies for Altman Z2-Score. This places Spanish Mountain Gold in the top 10% of its industry — outperforming the majority of peers. The industry median Altman Z2-Score is 2.16. Spanish Mountain Gold's value of 37.27 is 1629.5% above this benchmark. Historically, Spanish Mountain Gold's own Altman Z2-Score has ranged from 25.96 to 225.32 over the past decade. While the company's 10-year median is 61.77 vs. the industry median of 2.16, Spanish Mountain Gold 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 Metals & Mining company?
The median Altman Z2-Score among Metals & Mining companies is 2.16, based on 2,614 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. Spanish Mountain Gold's current Altman Z2-Score of 37.27 is 1629.5% 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 Spanish Mountain Gold and its competitors. For the Metals & Mining industry, the median Altman Z2-Score is 2.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spanish Mountain Gold's current Altman Z2-Score is 37.27, which is 40% below median its own 10-year median of 61.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spanish Mountain Gold stock overvalued right now?
Spanish Mountain Gold (SPAUF) has a current Altman Z2-Score of 37.27. The current Altman Z2-Score is 37.27, which is 40% below median its 10-year median of 61.77 and 1629.5% above the Metals & Mining industry median of 2.16. Spanish Mountain Gold's overall GF Score™ is 30/100 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 Spanish Mountain Gold (SPAUF), the current Altman Z2-Score is 37.27 as of Jun. 30, 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.
Spanish Mountain Gold Ltd is an exploration stage resource company. It is focused on advancing its Spanish Mountain Gold Project towards its goal to build the next gold mine in the Cariboo Gold Corridor, British Columbia.
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