Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Pengana Capital GroupASX:PCG -0.69%24 Altman Z-Score is 14.58 as of Aug. 10, 2026, which is 37% above its 10-year median of 10.63. GuruFocus rates ASX:PCG with a GF Score™ of 24/100 and a GF Value™ of A$0.34 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 654 Asset Management companies, Pengana Capital Group ranks better than 81.5% 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 15.21 is strong.
Pengana Capital Group has a Altman Z-Score of 14.58, 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 Pengana Capital Group's Altman Z-Score or its related term are showing as below:
ASX:PCG'
s Altman Z-Score Range Over the Past 10 Years
Min: 10.63 Med: 10.63 Max: 15.21
Current: 15.21
During the past 1 years, Pengana Capital Group's highest Altman Z-Score was 15.21. The lowest was 10.63. And the median was 10.63.
Pengana Capital Group (ASX:PCG) Altman Z-Score Explanation
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.
Pengana Capital Group Altman Z-Score Related Terms
Pengana Capital Group Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Pengana Capital Group'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.
Pengana Capital Group Altman Z-Score Chart
Pengana Capital Group Annual Data
Trend
Jun25
Altman Z-Score
10.63
Pengana Capital Group Semi-Annual Data
Dec24
Jun25
Dec25
Altman Z-Score
0.00
10.63
0.00
ASX:PCG vs BLK, BX, KKR: Altman Z-Score Comparison
For the Asset Management subindustry, Pengana Capital Group'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.
Pengana Capital Group Altman Z-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Pengana Capital Group's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Pengana Capital Group'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.
Pengana Capital Group (ASX:PCG) has a Altman Z-Score of 14.58 as of Aug. 10, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Pengana Capital Group and its competitors. This is 37% above median its historical median of 10.63. Over the past decade, Pengana Capital Group's Altman Z-Score has ranged from 10.63 to 15.21. According to the industry distribution chart, Pengana Capital Group ranks #121 out of 654 companies in the Asset Management industry, placing it in the top 18.5%.
Is Pengana Capital Group's Altman Z-Score too high?
Pengana Capital Group's current Altman Z-Score of 14.58 is 37% above median its 10-year median of 10.63. Over the past 10 years, this metric has ranged from a low of 10.63 to a high of 15.21. The Asset Management industry median Altman Z-Score is 3.58. Pengana Capital Group's value of 14.58 is 307.3% above this industry median. Based on the distribution chart, Pengana Capital Group ranks #121 out of 654 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Pengana Capital Group has a GF Score™ of 24/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pengana Capital Group's Altman Z-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Pengana Capital Group ranks #121 out of 654 companies for Altman Z-Score. This places Pengana Capital Group in the top 19% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 3.58. Pengana Capital Group's value of 14.58 is 307.3% above this benchmark. Historically, Pengana Capital Group's own Altman Z-Score has ranged from 10.63 to 15.21 over the past decade. While the company's 10-year median is 10.63 vs. the industry median of 3.58, Pengana Capital Group 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 an Asset Management company?
The median Altman Z-Score among Asset Management companies is 3.58, based on 654 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. Pengana Capital Group's current Altman Z-Score of 14.58 is 307.3% 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 Pengana Capital Group and its competitors. For the Asset Management industry, the median Altman Z-Score is 3.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pengana Capital Group's current Altman Z-Score is 14.58, which is 37% above median its own 10-year median of 10.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pengana Capital Group stock overvalued right now?
Based on GuruFocus' analysis, Pengana Capital Group (ASX:PCG) is currently considered Significantly Overvalued. The stock's GF Value™ is A$0.34, compared to a current price of A$0.72 — trading 111.8% above its estimated fair value. The current Altman Z-Score is 14.58, which is 37% above median its 10-year median of 10.63 and 307.3% above the Asset Management industry median of 3.58. Pengana Capital Group's overall GF Score™ is 24/100 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 Pengana Capital Group (ASX:PCG), the current Altman Z-Score is 14.58 as of Aug. 10, 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 Pengana Capital Group (ASX:PCG) Overvalued in 2026?
Based on GuruFocus' analysis, Pengana Capital Group stock appears to be overvalued.
The current stock price of A$0.72 is trading 111.8% above its estimated GF Value™ of A$0.34.
GuruFocus considers Pengana Capital Group to be Significantly Overvalued.
Key valuation signals for ASX:PCG:
Altman Z-Score: 14.58 (37% above median its 10-year median of 10.63)
GF Value™: A$0.34 vs. price of A$0.72 (111.8% above fair value)
Industry Position: 307.3% above the Asset Management median (#121 of 654)
No single metric tells the full story. See the ASX:PCG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pengana Capital Group Ltd is a diversified fund management company. Its objective is to increase investor wealth by developing, offering, and managing investment funds in Australia and globally as opportunities arise. It operates in one operating segment being the development, offering of, and management of investment funds.
24GF Score
Get the complete analysis for ASX:PCG
Altman Z-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASX:PCG has been successfully added to your 
