WestStar IndustrialASX:WSI Altman Z-Score is 2.73 as of Jun. 28, 2026, which is 47% above its 10-year median of 1.86. The stock has 4 warning signs investors should review. Among 1,753 Construction companies, WestStar Industrial ranks better than 59.44% 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.
Warning Sign:
Altman Z-score of 2.73 is in the grey area. This implies that the company is under some kind of financial stress. If it is below 1.8, the company may face bankruptcy risk.
WestStar Industrial has a Altman Z-Score of 2.73, indicating it is in Grey Zones. This implies that WestStar Industrial is in some kind of financial stress. If it is below 1.81, the company may face bankrupcy risk.
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 WestStar Industrial's Altman Z-Score or its related term are showing as below:
ASX:WSI'
s Altman Z-Score Range Over the Past 10 Years
Min: -18.98 Med: 1.86 Max: 4.56
Current: 2.73
During the past 13 years, WestStar Industrial's highest Altman Z-Score was 4.56. The lowest was -18.98. And the median was 1.86.
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.
WestStar Industrial Altman Z-Score Related Terms
WestStar Industrial Altman Z-Score Historical Data
* Premium members only.
The historical data trend for WestStar Industrial'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:WSI vs PWR, FIX, EME: Altman Z-Score Comparison
For the Engineering & Construction subindustry, WestStar Industrial'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.
WestStar Industrial Altman Z-Score vs Construction Industry
For the Construction industry and Industrials sector, WestStar Industrial's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where WestStar Industrial'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.
WestStar Industrial'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
*
0.3115
+
1.4
*
0.0212
+
3.3
*
-0.0641
+
0.6
*
0.278
+
1.0
*
2.3709
=
2.73
* 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.
WestStar Industrial (ASX:WSI) has a Altman Z-Score of 2.73 as of Jun. 28, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on WestStar Industrial and its competitors. This is 47% above median its historical median of 1.86. According to the industry distribution chart, WestStar Industrial ranks #711 out of 1753 companies in the Construction industry, placing it in the top 40.6%.
Is WestStar Industrial's Altman Z-Score too high?
WestStar Industrial's current Altman Z-Score of 2.73 is 47% above median its 10-year median of 1.86. The Construction industry median Altman Z-Score is 2.33. WestStar Industrial's value of 2.73 is 17.2% above this industry median. Based on the distribution chart, WestStar Industrial ranks #711 out of 1753 companies in the Construction industry, which is above the industry midpoint.
How does WestStar Industrial's Altman Z-Score compare to PWR and FIX?
According to the Construction industry distribution chart, WestStar Industrial ranks #711 out of 1753 companies for Altman Z-Score. This puts WestStar Industrial in the upper half of its industry. The industry median Altman Z-Score is 2.33. WestStar Industrial's value of 2.73 is 17.2% above this benchmark. While the company's 10-year median is 1.86 vs. the industry median of 2.33, WestStar Industrial 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 Construction company?
The median Altman Z-Score among Construction companies is 2.33, based on 1,753 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. WestStar Industrial's current Altman Z-Score of 2.73 is 17.2% 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 WestStar Industrial and its competitors. For the Construction industry, the median Altman Z-Score is 2.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WestStar Industrial's current Altman Z-Score is 2.73, which is 47% above median its own 10-year median of 1.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WestStar Industrial stock overvalued right now?
Based on GuruFocus' analysis, WestStar Industrial (ASX:WSI) is currently considered Modestly Overvalued. The stock's GF Value™ is A$0.05, compared to a current price of A$0.06 — trading 18% above its estimated fair value. The current Altman Z-Score is 2.73, which is 47% above median its 10-year median of 1.86 and 17.2% above the Construction industry median of 2.33. 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 WestStar Industrial (ASX:WSI), the current Altman Z-Score is 2.73 as of Jun. 28, 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.
WestStar Industrial Ltd is an Australian company offering industrial project solutions in engineering, fabrication, construction, and maintenance across sectors such as resources, energy, oil and gas, petrochemical, water, marine, defence, and infrastructure. The company operates through three segments: SIMPEC, Alltype Engineering, and Watmar Engineering. SIMPEC specializes in structural, mechanical, piping, electrical, and instrumentation contracting. Alltype Engineering provides workshop services, site installation, construction, and maintenance across various industries. Watmar Engineering focuses on fluid systems engineering for the defence and marine sectors. The majority of the company's revenue is generated from the Alltype segment.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASX:WSI has been successfully added to your 