Fisher & Paykel HealthcareASX:FPH +0.13%88 Altman Z-Score is 20.68 as of Jun. 26, 2026, which is 0% below its 10-year median of 20.70. GuruFocus rates ASX:FPH with a GF Score™ of 88/100 and a GF Value™ of A$36.31 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 809 Medical Devices & Instruments companies, Fisher & Paykel Healthcare ranks better than 93.08% 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 20.85 is strong.
Fisher & Paykel Healthcare has a Altman Z-Score of 20.68, 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 Fisher & Paykel Healthcare's Altman Z-Score or its related term are showing as below:
ASX:FPH'
s Altman Z-Score Range Over the Past 10 Years
Min: 18.05 Med: 20.7 Max: 25.28
Current: 20.85
During the past 13 years, Fisher & Paykel Healthcare's highest Altman Z-Score was 25.28. The lowest was 18.05. And the median was 20.70.
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.
* 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:FPH vs ISRG, BDX, MDLN: Altman Z-Score Comparison
For the Medical Instruments & Supplies subindustry, Fisher & Paykel Healthcare'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.
Fisher & Paykel Healthcare Altman Z-Score vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Fisher & Paykel Healthcare's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Fisher & Paykel Healthcare'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.
* 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.
Fisher & Paykel Healthcare (ASX:FPH) has a Altman Z-Score of 20.68 as of Jun. 26, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Fisher & Paykel Healthcare and its competitors. This is near median its historical median of 20.70. Over the past decade, Fisher & Paykel Healthcare's Altman Z-Score has ranged from 18.05 to 25.28. According to the industry distribution chart, Fisher & Paykel Healthcare ranks #56 out of 809 companies in the Medical Devices & Instruments industry, placing it in the top 6.9%.
Is Fisher & Paykel Healthcare's Altman Z-Score too high?
Fisher & Paykel Healthcare's current Altman Z-Score of 20.68 is near median its 10-year median of 20.70. Over the past 10 years, this metric has ranged from a low of 18.05 to a high of 25.28. The Medical Devices & Instruments industry median Altman Z-Score is 2.92. Fisher & Paykel Healthcare's value of 20.68 is 608.2% above this industry median. Based on the distribution chart, Fisher & Paykel Healthcare ranks #56 out of 809 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Fisher & Paykel Healthcare has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fisher & Paykel Healthcare's Altman Z-Score compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Fisher & Paykel Healthcare ranks #56 out of 809 companies for Altman Z-Score. This places Fisher & Paykel Healthcare in the top 7% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 2.92. Fisher & Paykel Healthcare's value of 20.68 is 608.2% above this benchmark. Historically, Fisher & Paykel Healthcare's own Altman Z-Score has ranged from 18.05 to 25.28 over the past decade. While the company's 10-year median is 20.70 vs. the industry median of 2.92, Fisher & Paykel Healthcare 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 Z-Score for a Medical Devices & Instruments company?
The median Altman Z-Score among Medical Devices & Instruments companies is 2.92, based on 809 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. Fisher & Paykel Healthcare's current Altman Z-Score of 20.68 is 608.2% 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 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 Fisher & Paykel Healthcare and its competitors. For the Medical Devices & Instruments industry, the median Altman Z-Score is 2.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fisher & Paykel Healthcare's current Altman Z-Score is 20.68, which is near median its own 10-year median of 20.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fisher & Paykel Healthcare stock overvalued right now?
Based on GuruFocus' analysis, Fisher & Paykel Healthcare (ASX:FPH) is currently considered Modestly Undervalued. The stock's GF Value™ is A$36.31, compared to a current price of A$31.57 — trading 13.1% below its estimated fair value. The current Altman Z-Score is 20.68, which is near median its 10-year median of 20.70 and 608.2% above the Medical Devices & Instruments industry median of 2.92. Fisher & Paykel Healthcare's overall GF Score™ is 88/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For Fisher & Paykel Healthcare (ASX:FPH), the current Altman Z-Score is 20.68 as of Jun. 26, 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 Fisher & Paykel Healthcare (ASX:FPH) Overvalued in 2026?
Based on GuruFocus' analysis, Fisher & Paykel Healthcare stock appears to be undervalued.
The current stock price of A$31.57 is trading 13.1% below its estimated GF Value™ of A$36.31.
GuruFocus considers Fisher & Paykel Healthcare to be Modestly Undervalued.
Key valuation signals for ASX:FPH:
Altman Z-Score: 20.68 (near median its 10-year median of 20.70)
GF Value™: A$36.31 vs. price of A$31.57 (13.1% below fair value)
Industry Position: 608.2% above the Medical Devices & Instruments median (#56 of 809)
No single metric tells the full story. See the ASX:FPH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fisher & Paykel Healthcare is one of the three largest respiratory care device companies globally. It is the market leader in hospital use of humidifiers, masks, and related consumables, and the number three player in the at-home treatment of sleep apnea using respiratory devices. Both the hospital and homecare markets for respiratory devices are growing strongly in the developed markets in which Fisher & Paykel has a presence. The company earns roughly half of its revenue in North America, around a quarter in Europe, and approximately a fifth in Asia-Pacific. Fisher conducts its own R&D and has thousands of patents and pending applications. It manufactures in New Zealand, Mexico, and China, and has a multichannel distribution model.
88GF Score
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