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:
Astramina Group Bhd has a Altman Z2-Score of 16.11, 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 Astramina Group Bhd's Altman Z2-Score or its related term are showing as below:
XKLS:03032'
s Altman Z2-Score Range Over the Past 10 Years
Min: 10.46 Med: 14.88 Max: 21.76
Current: 16.11
During the past 9 years, Astramina Group Bhd's highest Altman Z2-Score was 21.76. The lowest was 10.46. And the median was 14.88.
Astramina Group Bhd (XKLS:03032) 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.
Astramina Group Bhd Altman Z2-Score Related Terms
Astramina Group Bhd Altman Z2-Score Historical Data
* Premium members only.
The historical data trend for Astramina Group Bhd'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.
XKLS:03032 vs JBS, KHC, K: Altman Z2-Score Comparison
For the Packaged Foods subindustry, Astramina Group Bhd'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.
Astramina Group Bhd Altman Z2-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Astramina Group Bhd's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where Astramina Group Bhd'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.
Astramina Group Bhd'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
*
0.8126
+
3.26
*
0.7617
+
6.72
*
0.1008
+
1.05
*
7.2517
=
16.11
* 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.
Astramina Group Bhd (XKLS:03032) has a Altman Z2-Score of 16.11 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 Astramina Group Bhd and its competitors. This is near median its historical median of 14.88. Over the past decade, Astramina Group Bhd's Altman Z2-Score has ranged from 10.46 to 21.76.
Is Astramina Group Bhd's Altman Z2-Score too high?
Astramina Group Bhd's current Altman Z2-Score of 16.11 is near median its 10-year median of 14.88. Over the past 10 years, this metric has ranged from a low of 10.46 to a high of 21.76. The Consumer Packaged Goods industry median Altman Z2-Score is 3.72. Astramina Group Bhd's value of 16.11 is 333.1% above this industry median. Overall, Astramina Group Bhd has a GF Score™ of 46/100, reflecting its overall financial health beyond just this single metric.
How does Astramina Group Bhd's Altman Z2-Score compare to JBS and KHC?
Astramina Group Bhd's Altman Z2-Score of 16.11 can be compared against companies in the Consumer Packaged Goods industry. The industry median Altman Z2-Score is 3.72. Astramina Group Bhd's value of 16.11 is 333.1% above this benchmark. Historically, Astramina Group Bhd's own Altman Z2-Score has ranged from 10.46 to 21.76 over the past decade. While the company's 10-year median is 14.88 vs. the industry median of 3.72, Astramina Group Bhd 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 Consumer Packaged Goods company?
The median Altman Z2-Score among Consumer Packaged Goods companies is 3.72, based on 1,965 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. Astramina Group Bhd's current Altman Z2-Score of 16.11 is 333.1% 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 Astramina Group Bhd and its competitors. For the Consumer Packaged Goods industry, the median Altman Z2-Score is 3.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Astramina Group Bhd's current Altman Z2-Score is 16.11, which is near median its own 10-year median of 14.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Astramina Group Bhd stock overvalued right now?
Astramina Group Bhd (XKLS:03032) has a current Altman Z2-Score of 16.11. The stock's GF Value™ is RM0.43, compared to a current price of RM0.50 — trading 16.3% above its estimated fair value. The current Altman Z2-Score is 16.11, which is near median its 10-year median of 14.88 and 333.1% above the Consumer Packaged Goods industry median of 3.72. Astramina Group Bhd's overall GF Score™ is 46/100 with 6 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 Astramina Group Bhd (XKLS:03032), the current Altman Z2-Score is 16.11 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.
Is Astramina Group Bhd (XKLS:03032) Overvalued in 2026?
Based on GuruFocus' analysis, Astramina Group Bhd stock appears to be overvalued.
The current stock price of RM0.50 is trading 16.3% above its estimated GF Value™ of RM0.43.
Key valuation signals for XKLS:03032:
Altman Z2-Score: 16.11 (near median its 10-year median of 14.88)
GF Value™: RM0.43 vs. price of RM0.50 (16.3% above fair value)
Industry Position: 333.1% above the Consumer Packaged Goods median
No single metric tells the full story. See the XKLS:03032 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Astramina Group Bhd through its subsidiary is engaged in the manufacturing and selling of food ingredients, and trading of food ingredients. The operating business segments are manufacturing and selling of food ingredients, and trading of food ingredients, with maximum revenue from manufacturing and selling of food ingredients segment. It operates in Malaysia and Other countries as well.
46GF Score
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