CN Asia BhdXKLS:7986 Altman Z2-Score is 0.37 as of Jul. 03, 2026, which is 95% below its 10-year median of 7.77. The stock has 7 warning signs investors should review. Among 3,037 Industrial Products companies, CN Asia Bhd ranks worse than 87.19% 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.
Warning Sign:
CN Asia Bhd has a Altman Z2-Score of 0.37, 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 CN Asia Bhd's Altman Z2-Score or its related term are showing as below:
XKLS:7986'
s Altman Z2-Score Range Over the Past 10 Years
Min: -5 Med: 7.77 Max: 24.29
Current: 0.37
During the past 13 years, CN Asia Bhd's highest Altman Z2-Score was 24.29. The lowest was -5.00. And the median was 7.77.
CN Asia Bhd (XKLS:7986) 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.
CN Asia Bhd Altman Z2-Score Related Terms
CN Asia Bhd Altman Z2-Score Historical Data
* Premium members only.
The historical data trend for CN Asia 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:7986 vs GEV, ETN, PH: Altman Z2-Score Comparison
For the Specialty Industrial Machinery subindustry, CN Asia 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.
CN Asia Bhd Altman Z2-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, CN Asia Bhd's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where CN Asia 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.
CN Asia 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
*
0.3576
+
3.26
*
-0.4838
+
6.72
*
-0.2575
+
1.05
*
1.2693
=
0.37
* 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.
CN Asia Bhd (XKLS:7986) has a Altman Z2-Score of 0.37 as of Jul. 03, 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 CN Asia Bhd and its competitors. This is 95% below median its historical median of 7.77. According to the industry distribution chart, CN Asia Bhd ranks #2648 out of 3037 companies in the Industrial Products industry, placing it in the top 87.2%.
Is CN Asia Bhd's Altman Z2-Score too high?
CN Asia Bhd's current Altman Z2-Score of 0.37 is 95% below median its 10-year median of 7.77. The Industrial Products industry median Altman Z2-Score is 4.28. CN Asia Bhd's value of 0.37 is 91.4% below this industry median. Based on the distribution chart, CN Asia Bhd ranks #2648 out of 3037 companies in the Industrial Products industry, which is in the bottom quartile relative to peers.
How does CN Asia Bhd's Altman Z2-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, CN Asia Bhd ranks #2648 out of 3037 companies for Altman Z2-Score. This places CN Asia Bhd in the lower half of its industry. The industry median Altman Z2-Score is 4.28. CN Asia Bhd's value of 0.37 is 91.4% below this benchmark. While the company's 10-year median is 7.77 vs. the industry median of 4.28, CN Asia Bhd has consistently been below 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 an Industrial Products company?
The median Altman Z2-Score among Industrial Products companies is 4.28, based on 3,037 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. CN Asia Bhd's current Altman Z2-Score of 0.37 is 91.4% below 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 CN Asia Bhd and its competitors. For the Industrial Products industry, the median Altman Z2-Score is 4.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CN Asia Bhd's current Altman Z2-Score is 0.37, which is 95% below median its own 10-year median of 7.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CN Asia Bhd stock overvalued right now?
Based on GuruFocus' analysis, CN Asia Bhd (XKLS:7986) is currently considered Possible Value Trap. The stock's GF Value™ is RM0.23, compared to a current price of RM0.07 — trading 71.7% below its estimated fair value. The current Altman Z2-Score is 0.37, which is 95% below median its 10-year median of 7.77 and 91.4% below the Industrial Products industry median of 4.28. 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 CN Asia Bhd (XKLS:7986), the current Altman Z2-Score is 0.37 as of Jul. 03, 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.
CN Asia Corp Bhd is an investment holding company. Along with its subsidiaries, it is principally involved in the manufacturing and trading of underground and skid tanks, dish ends, pressure vessels, road tankers, pipings for the petroleum industry, specialised engineering and fabrication works, and operating as sub-contractors for civil engineering works. The group's operating business segments are: Manufacturing, Investment, Financial Services, and Energy Management. The majority of its revenue is generated from the Manufacturing segment, which manufactures tanks and other related products, and is involved in engineering and fabrication works. Geographically, the group generates maximum revenue from Malaysia, followed by Hong Kong, Singapore, Brunei, and the Philippines.
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