Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Totetsu Kogyo CoTSE:1835 -0.50%75 Altman Z2-Score is 10.80 as of Aug. 28, 2026, which is 47% above its 10-year median of 7.34. GuruFocus rates TSE:1835 with a GF Score™ of 75/100 and a GF Value™ of 円3,741.11 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,597 Construction companies, Totetsu Kogyo Co ranks better than 86.29% 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:
Totetsu Kogyo Co has a Altman Z2-Score of 10.80, 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 Totetsu Kogyo Co's Altman Z2-Score or its related term are showing as below:
TSE:1835'
s Altman Z2-Score Range Over the Past 10 Years
Min: 6.6 Med: 7.34 Max: 8.56
Current: 7.27
During the past 13 years, Totetsu Kogyo Co's highest Altman Z2-Score was 8.56. The lowest was 6.60. And the median was 7.34.
Totetsu Kogyo Co (TSE:1835) 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.
Totetsu Kogyo Co Altman Z2-Score Related Terms
Totetsu Kogyo Co Altman Z2-Score Historical Data
* Premium members only.
The historical data trend for Totetsu Kogyo 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.
TSE:1835 vs PWR, FIX, EME: Altman Z2-Score Comparison
For the Engineering & Construction subindustry, Totetsu Kogyo 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.
Totetsu Kogyo Co Altman Z2-Score vs Construction Industry
For the Construction industry and Industrials sector, Totetsu Kogyo Co's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Totetsu Kogyo Co'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.
Totetsu Kogyo Co'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
*
0.5227
+
3.26
*
0.7149
+
6.72
*
0.1118
+
1.05
*
4.0811
=
10.80
* 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.
Totetsu Kogyo Co (TSE:1835) has a Altman Z2-Score of 10.80 as of Aug. 28, 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 Totetsu Kogyo Co and its competitors. This is 47% above median its historical median of 7.34. Over the past decade, Totetsu Kogyo Co's Altman Z2-Score has ranged from 6.60 to 8.56. According to the industry distribution chart, Totetsu Kogyo Co ranks #219 out of 1597 companies in the Construction industry, placing it in the top 13.7%.
Is Totetsu Kogyo Co's Altman Z2-Score too high?
Totetsu Kogyo Co's current Altman Z2-Score of 10.80 is 47% above median its 10-year median of 7.34. Over the past 10 years, this metric has ranged from a low of 6.60 to a high of 8.56. The Construction industry median Altman Z2-Score is 3.17. Totetsu Kogyo Co's value of 10.80 is 240.7% above this industry median. Based on the distribution chart, Totetsu Kogyo Co ranks #219 out of 1597 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Totetsu Kogyo Co has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Totetsu Kogyo Co's Altman Z2-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Totetsu Kogyo Co ranks #219 out of 1597 companies for Altman Z2-Score. This places Totetsu Kogyo Co in the top 14% of its industry — outperforming the majority of peers. The industry median Altman Z2-Score is 3.17. Totetsu Kogyo Co's value of 10.80 is 240.7% above this benchmark. Historically, Totetsu Kogyo Co's own Altman Z2-Score has ranged from 6.60 to 8.56 over the past decade. While the company's 10-year median is 7.34 vs. the industry median of 3.17, Totetsu Kogyo 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 Construction company?
The median Altman Z2-Score among Construction companies is 3.17, based on 1,597 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. Totetsu Kogyo Co's current Altman Z2-Score of 10.80 is 240.7% 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 Totetsu Kogyo Co and its competitors. For the Construction industry, the median Altman Z2-Score is 3.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Totetsu Kogyo Co's current Altman Z2-Score is 10.80, which is 47% above median its own 10-year median of 7.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Totetsu Kogyo Co stock overvalued right now?
Based on GuruFocus' analysis, Totetsu Kogyo Co (TSE:1835) is currently considered Fairly Valued. The stock's GF Value™ is 円3,741.11, compared to a current price of 円4,000.00 — trading 6.9% above its estimated fair value. The current Altman Z2-Score is 10.80, which is 47% above median its 10-year median of 7.34 and 240.7% above the Construction industry median of 3.17. Totetsu Kogyo 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 Totetsu Kogyo Co (TSE:1835), the current Altman Z2-Score is 10.80 as of Aug. 28, 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 Totetsu Kogyo Co (TSE:1835) Overvalued in 2026?
Based on GuruFocus' analysis, Totetsu Kogyo Co stock appears to be overvalued.
The current stock price of 円4,000.00 is trading 6.9% above its estimated GF Value™ of 円3,741.11.
GuruFocus considers Totetsu Kogyo Co to be Fairly Valued.
Key valuation signals for TSE:1835:
Altman Z2-Score: 10.80 (47% above median its 10-year median of 7.34)
GF Value™: 円3,741.11 vs. price of 円4,000.00 (6.9% above fair value)
Industry Position: 240.7% above the Construction median (#219 of 1597)
No single metric tells the full story. See the TSE:1835 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Totetsu Kogyo Co Ltd is a construction company. Its operating segments are Civil Engineering, Railway track maintenance, Architectural and Environmental segment. It undertakes various projects such as construction, renovation, reinforcement of elevated bridges and railway platform edge doors for passenger protection along with building new railway tracks for the Shinkansen, public and private sectors. The company is also engaged in construction and maintenance of station buildings for railway lines, apartment houses, office buildings, hotels, shops, and schools. Additionally, it also provides environmental technology and services, like construction of solar power generation systems, greening of buildings, and implementing energy conservation systems for air conditioning.
75GF Score
Get the complete analysis for TSE:1835
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
TSE:1835 has been successfully added to your 
