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.
Lipps CoTSE:373A -0.20%20 Altman Z2-Score is 17.03 as of Jul. 22, 2026, which is 16% above its 10-year median of 14.71. GuruFocus rates TSE:373A with a GF Score™ of 20/100. The stock has 1 warning sign investors should review. Among 1,116 Retail - Cyclical companies, Lipps Co ranks better than 97.04% 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:
Lipps Co has a Altman Z2-Score of 17.03, 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 Lipps Co's Altman Z2-Score or its related term are showing as below:
TSE:373A'
s Altman Z2-Score Range Over the Past 10 Years
Min: 11.72 Med: 14.71 Max: 17.03
Current: 17.03
During the past 3 years, Lipps Co's highest Altman Z2-Score was 17.03. The lowest was 11.72. And the median was 14.71.
Lipps Co (TSE:373A) 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.
Lipps Co Altman Z2-Score Related Terms
Lipps Co Altman Z2-Score Historical Data
* Premium members only.
The historical data trend for Lipps 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.
Lipps Co Altman Z2-Score Chart
Lipps Co Annual Data
Trend
Aug23
Aug24
Aug25
Altman Z2-Score
11.72
14.71
17.03
Lipps Co Semi-Annual Data
Aug23
Aug24
Feb25
Aug25
Feb26
Altman Z2-Score
11.72
14.71
0.00
17.03
0.00
TSE:373A vs CASY, WSM, DKS: Altman Z2-Score Comparison
For the Specialty Retail subindustry, Lipps 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.
Lipps Co Altman Z2-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Lipps Co's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Lipps 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.
Lipps 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
*
0.8619
+
3.26
*
0.4567
+
6.72
*
0.2314
+
1.05
*
7.9312
=
17.03
* 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.
Lipps Co (TSE:373A) has a Altman Z2-Score of 17.03 as of Jul. 22, 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 Lipps Co and its competitors. This is 16% above median its historical median of 14.71. Over the past decade, Lipps Co's Altman Z2-Score has ranged from 11.72 to 17.03. According to the industry distribution chart, Lipps Co ranks #33 out of 1116 companies in the Retail - Cyclical industry, placing it in the top 3%.
Is Lipps Co's Altman Z2-Score too high?
Lipps Co's current Altman Z2-Score of 17.03 is 16% above median its 10-year median of 14.71. Over the past 10 years, this metric has ranged from a low of 11.72 to a high of 17.03. The Retail - Cyclical industry median Altman Z2-Score is 2.96. Lipps Co's value of 17.03 is 475.3% above this industry median. Based on the distribution chart, Lipps Co ranks #33 out of 1116 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, Lipps Co has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Lipps Co's Altman Z2-Score compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, Lipps Co ranks #33 out of 1116 companies for Altman Z2-Score. This places Lipps Co in the top 3% of its industry — outperforming the majority of peers. The industry median Altman Z2-Score is 2.96. Lipps Co's value of 17.03 is 475.3% above this benchmark. Historically, Lipps Co's own Altman Z2-Score has ranged from 11.72 to 17.03 over the past decade. While the company's 10-year median is 14.71 vs. the industry median of 2.96, Lipps 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 Retail - Cyclical company?
The median Altman Z2-Score among Retail - Cyclical companies is 2.96, based on 1,116 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. Lipps Co's current Altman Z2-Score of 17.03 is 475.3% 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 Lipps Co and its competitors. For the Retail - Cyclical industry, the median Altman Z2-Score is 2.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lipps Co's current Altman Z2-Score is 17.03, which is 16% above median its own 10-year median of 14.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lipps Co stock overvalued right now?
Lipps Co (TSE:373A) has a current Altman Z2-Score of 17.03. The current Altman Z2-Score is 17.03, which is 16% above median its 10-year median of 14.71 and 475.3% above the Retail - Cyclical industry median of 2.96. Lipps Co's overall GF Score™ is 20/100 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 Lipps Co (TSE:373A), the current Altman Z2-Score is 17.03 as of Jul. 22, 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.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:373A has been successfully added to your 
