Adrad HoldingsASX:AHL +2.05%43 Altman Z-Score is 3.14 as of Jul. 02, 2026, which is 26% above its 10-year median of 2.49. GuruFocus rates ASX:AHL with a GF Score™ of 43/100 and a GF Value™ of A$0.79 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 3,006 Industrial Products companies, Adrad Holdings ranks worse than 53.96% on this metric.
The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Good Sign:
Altman Z-score of 3.12 is strong.
Adrad Holdings has a Altman Z-Score of 3.14, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for Adrad Holdings's Altman Z-Score or its related term are showing as below:
ASX:AHL'
s Altman Z-Score Range Over the Past 10 Years
Min: 2.39 Med: 2.49 Max: 3.12
Current: 3.12
During the past 3 years, Adrad Holdings's highest Altman Z-Score was 3.12. The lowest was 2.39. And the median was 2.49.
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.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Altman Z-Score does not apply to financial companies.
Adrad Holdings Altman Z-Score Related Terms
Adrad Holdings Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Adrad Holdings's Altman Z-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.
ASX:AHL vs GEV, ETN, PH: Altman Z-Score Comparison
For the Specialty Industrial Machinery subindustry, Adrad Holdings's Altman Z-Score, along with its competitors' market caps and Altman Z-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.
Adrad Holdings Altman Z-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Adrad Holdings's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Adrad Holdings's Altman Z-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.
Adrad Holdings's Altman Z-Score for today is calculated with this formula:
Z
=
1.2
*
X1
+
1.4
*
X2
+
3.3
*
X3
+
0.6
*
X4
+
1.0
*
X5
=
1.2
*
0.359
+
1.4
*
0.4385
+
3.3
*
0.0446
+
0.6
*
1.8919
+
1.0
*
0.8096
=
3.14
* 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 Z-Score when X4 or X5 value is 0.
Adrad Holdings (ASX:AHL) has a Altman Z-Score of 3.14 as of Jul. 02, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Adrad Holdings and its competitors. This is 26% above median its historical median of 2.49. Over the past decade, Adrad Holdings' Altman Z-Score has ranged from 2.39 to 3.12. According to the industry distribution chart, Adrad Holdings ranks #1622 out of 3006 companies in the Industrial Products industry, placing it in the top 54%.
Is Adrad Holdings' Altman Z-Score too high?
Adrad Holdings' current Altman Z-Score of 3.14 is 26% above median its 10-year median of 2.49. Over the past 10 years, this metric has ranged from a low of 2.39 to a high of 3.12. The Industrial Products industry median Altman Z-Score is 3.34. Adrad Holdings' value of 3.14 is 6% below this industry median. Based on the distribution chart, Adrad Holdings ranks #1622 out of 3006 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Adrad Holdings has a GF Score™ of 43/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Adrad Holdings' Altman Z-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Adrad Holdings ranks #1622 out of 3006 companies for Altman Z-Score. This places Adrad Holdings in the lower half of its industry. The industry median Altman Z-Score is 3.34. Adrad Holdings' value of 3.14 is 6% below this benchmark. Historically, Adrad Holdings' own Altman Z-Score has ranged from 2.39 to 3.12 over the past decade. While the company's 10-year median is 2.49 vs. the industry median of 3.34, Adrad Holdings 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 Z-Score for an Industrial Products company?
The median Altman Z-Score among Industrial Products companies is 3.34, based on 3,006 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Adrad Holdings's current Altman Z-Score of 3.14 is 6% 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 Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on Adrad Holdings and its competitors. For the Industrial Products industry, the median Altman Z-Score is 3.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Adrad Holdings's current Altman Z-Score is 3.14, which is 26% above median its own 10-year median of 2.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adrad Holdings stock overvalued right now?
Based on GuruFocus' analysis, Adrad Holdings (ASX:AHL) is currently considered Significantly Overvalued. The stock's GF Value™ is A$0.79, compared to a current price of A$1.50 — trading 89.2% above its estimated fair value. The current Altman Z-Score is 3.14, which is 26% above median its 10-year median of 2.49 and 6% below the Industrial Products industry median of 3.34. Adrad Holdings' overall GF Score™ is 43/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For Adrad Holdings (ASX:AHL), the current Altman Z-Score is 3.14 as of Jul. 02, 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 Adrad Holdings (ASX:AHL) Overvalued in 2026?
Based on GuruFocus' analysis, Adrad Holdings stock appears to be overvalued.
The current stock price of A$1.50 is trading 89.2% above its estimated GF Value™ of A$0.79.
GuruFocus considers Adrad Holdings to be Significantly Overvalued.
Key valuation signals for ASX:AHL:
Altman Z-Score: 3.14 (26% above median its 10-year median of 2.49)
GF Value™: A$0.79 vs. price of A$1.50 (89.2% above fair value)
Industry Position: 6% below the Industrial Products median (#1622 of 3006)
No single metric tells the full story. See the ASX:AHL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Adrad Holdings Ltd designs and manufactures a wide variety of original equipment and aftermarket heat exchange products for both mobile and stationary applications. The company operates in two segments: Heat Transfer Solutions and Distribution. The Heat Transfer Solutions segment which designs and manufactures industrial cooling solutions for use in road transport and heavy vehicles, mining, power generation, data centres, and rail industries. The Distribution segment includes imports and distributes radiators, mobile and stationary heat exchange products, as well as a variety of automotive parts for the automotive and industrial markets. Geographically, the company derives key revenue from Australasia and the rest from Asia, the Middle East, North America, South America, Europe, & Africa.
43GF Score
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