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:
Pan Pacific International Holdings has a Altman Z2-Score of 3.51, 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 Pan Pacific International Holdings's Altman Z2-Score or its related term are showing as below:
TSE:7532'
s Altman Z2-Score Range Over the Past 10 Years
Min: 1.88 Med: 2.73 Max: 3.51
Current: 3.51
During the past 13 years, Pan Pacific International Holdings's highest Altman Z2-Score was 3.51. The lowest was 1.88. And the median was 2.73.
Pan Pacific International Holdings (TSE:7532) 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.
Pan Pacific International Holdings Altman Z2-Score Chart
TSE:7532 vs WMT, COST, TGT: Altman Z2-Score Comparison
For the Discount Stores subindustry, Pan Pacific International Holdings'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.
Pan Pacific International Holdings Altman Z2-Score vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Pan Pacific International Holdings's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Pan Pacific International Holdings's Altman Z2-Score falls into.
Pan Pacific International Holdings 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.
Pan Pacific International Holdings (TSE:7532) has a Altman Z2-Score of 3.51 as of Jul. 11, 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 Pan Pacific International Holdings and its competitors. This is 29% above median its historical median of 2.73. Over the past decade, Pan Pacific International Holdings' Altman Z2-Score has ranged from 1.88 to 3.51. According to the industry distribution chart, Pan Pacific International Holdings ranks #124 out of 308 companies in the Retail - Defensive industry, placing it in the top 40.3%.
Is Pan Pacific International Holdings' Altman Z2-Score too high?
Pan Pacific International Holdings' current Altman Z2-Score of 3.51 is 29% above median its 10-year median of 2.73. Over the past 10 years, this metric has ranged from a low of 1.88 to a high of 3.51. The Retail - Defensive industry median Altman Z2-Score is 2.66. Pan Pacific International Holdings' value of 3.51 is 32.2% above this industry median. Based on the distribution chart, Pan Pacific International Holdings ranks #124 out of 308 companies in the Retail - Defensive industry, which is above the industry midpoint. Overall, Pan Pacific International Holdings has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Pan Pacific International Holdings' Altman Z2-Score compare to WMT and COST?
According to the Retail - Defensive industry distribution chart, Pan Pacific International Holdings ranks #124 out of 308 companies for Altman Z2-Score. This puts Pan Pacific International Holdings in the upper half of its industry. The industry median Altman Z2-Score is 2.66. Pan Pacific International Holdings' value of 3.51 is 32.2% above this benchmark. Historically, Pan Pacific International Holdings' own Altman Z2-Score has ranged from 1.88 to 3.51 over the past decade. While the company's 10-year median is 2.73 vs. the industry median of 2.66, Pan Pacific International Holdings 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 - Defensive company?
The median Altman Z2-Score among Retail - Defensive companies is 2.66, based on 308 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. Pan Pacific International Holdings's current Altman Z2-Score of 3.51 is 32.2% 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 Pan Pacific International Holdings and its competitors. For the Retail - Defensive industry, the median Altman Z2-Score is 2.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pan Pacific International Holdings's current Altman Z2-Score is 3.51, which is 29% above median its own 10-year median of 2.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pan Pacific International Holdings stock overvalued right now?
Based on GuruFocus' analysis, Pan Pacific International Holdings (TSE:7532) is currently considered Fairly Valued. The stock's GF Value™ is 円927.21, compared to a current price of 円850.40 — trading 8.3% below its estimated fair value. The current Altman Z2-Score is 3.51, which is 29% above median its 10-year median of 2.73 and 32.2% above the Retail - Defensive industry median of 2.66. Pan Pacific International Holdings' overall GF Score™ is 85/100. 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 Pan Pacific International Holdings (TSE:7532), the current Altman Z2-Score is 3.51 as of Jul. 11, 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 Pan Pacific International Holdings (TSE:7532) Overvalued in 2026?
Based on GuruFocus' analysis, Pan Pacific International Holdings stock appears to be undervalued.
The current stock price of 円850.40 is trading 8.3% below its estimated GF Value™ of 円927.21.
GuruFocus considers Pan Pacific International Holdings to be Fairly Valued.
Key valuation signals for TSE:7532:
Altman Z2-Score: 3.51 (29% above median its 10-year median of 2.73)
GF Value™: 円927.21 vs. price of 円850.40 (8.3% below fair value)
Industry Position: 32.2% above the Retail - Defensive median (#124 of 308)
No single metric tells the full story. See the TSE:7532 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pan Pacific International Holdings Business Description
Pan Pacific International Holdings is a leading operator of discount stores and general merchandise stores primarily in Japan, operating 661 stores as of early 2026 nationally. It offers a wide range of products from packaged food, cosmetics, and household products to consumer electronics. The primary store formats include the Don Quijote discount stores, Mega Donki format, and general merchandise stores operated under the UNY brand. Overseas operations concentrate on North America and Southeast Asia. The group has acquired small supermarket chains in Hawaii and California in the US and also operates stores across Singapore and Hong Kong.
85GF Score
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