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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.
Warning Sign:
Linkers has a Altman Z2-Score of -0.68, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
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 Linkers's Altman Z2-Score or its related term are showing as below:
TSE:5131'
s Altman Z2-Score Range Over the Past 10 Years
Min: 0.5 Med: 13.3 Max: 15.27
Current: 0.5
During the past 6 years, Linkers's highest Altman Z2-Score was 15.27. The lowest was 0.50. And the median was 13.30.
Linkers (TSE:5131) 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.
Linkers Altman Z2-Score Related Terms
Linkers Altman Z2-Score Historical Data
* Premium members only.
The historical data trend for Linkers'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:5131 vs CTAS, CPRT, ULS: Altman Z2-Score Comparison
For the Specialty Business Services subindustry, Linkers'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.
Linkers Altman Z2-Score vs Business Services Industry
For the Business Services industry and Industrials sector, Linkers's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Linkers'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.
Linkers'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
*
0.359
+
3.26
*
-0.3895
+
6.72
*
-0.3877
+
1.05
*
0.7975
=
-0.68
* 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.
Linkers (TSE:5131) has a Altman Z2-Score of -0.68 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 Linkers and its competitors. Over the past decade, Linkers' Altman Z2-Score has ranged from 0.50 to 15.27. According to the industry distribution chart, Linkers ranks #804 out of 1080 companies in the Business Services industry, placing it in the top 74.4%.
Is Linkers' Altman Z2-Score too high?
Linkers' current Altman Z2-Score is -0.68. Over the past 10 years, this metric has ranged from a low of 0.50 to a high of 15.27. Based on the distribution chart, Linkers ranks #804 out of 1080 companies in the Business Services industry, which is below the industry midpoint. Overall, Linkers has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Linkers' Altman Z2-Score compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Linkers ranks #804 out of 1080 companies for Altman Z2-Score. This places Linkers in the lower half of its industry. The industry median Altman Z2-Score is 3.65. Historically, Linkers' own Altman Z2-Score has ranged from 0.50 to 15.27 over the past decade. 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 Business Services company?
The median Altman Z2-Score among Business Services companies is 3.65, based on 1,080 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. 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 Linkers and its competitors. For the Business Services industry, the median Altman Z2-Score is 3.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Linkers's current Altman Z2-Score is -0.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Linkers stock overvalued right now?
Based on GuruFocus' analysis, Linkers (TSE:5131) is currently considered Fairly Valued. The stock's GF Value™ is 円131.45, compared to a current price of 円133.00 — trading 1.2% above its estimated fair value. The current Altman Z2-Score is -0.68. Linkers' overall GF Score™ is 63/100 with 3 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 Linkers (TSE:5131), the current Altman Z2-Score is -0.68 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 Linkers (TSE:5131) Overvalued in 2026?
Based on GuruFocus' analysis, Linkers stock appears to be overvalued.
The current stock price of 円133.00 is trading 1.2% above its estimated GF Value™ of 円131.45.
GuruFocus considers Linkers to be Fairly Valued.
Key valuation signals for TSE:5131:
Altman Z2-Score: -0.68
GF Value™: 円131.45 vs. price of 円133.00 (1.2% above fair value)
No single metric tells the full story. See the TSE:5131 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Linkers Corp is engaged in providing business matchmaking services and research consulting services, especially in the manufacturing sector. The various services offered by the group include Linkers Research, which investigates technology needs and seeds at the research stage and identifies the technical themes and challenges that companies should address; Linkers Sourcing, which provides technology exploration services that handle needs-based matching at the development stage; Linkers Marketing, which introduces clients technology, products, and services to corporate network and provide interview opportunities with interested companies; and Linkers for BANK, a SaaS-based business matching system that helps institutions improve their business matching operations; among others.
63GF Score
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