Asphere Innovations PCLBKK:AS 67 Altman Z-Score is 3.77 as of Jun. 27, 2026, which is 9% below its 10-year median of 4.15. GuruFocus rates BKK:AS with a GF Score™ of 67/100 and a GF Value™ of ฿3.77 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 550 Interactive Media companies, Asphere Innovations PCL ranks better than 56.36% 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 3.78 is strong.
Asphere Innovations PCL has a Altman Z-Score of 3.77, 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 Asphere Innovations PCL's Altman Z-Score or its related term are showing as below:
BKK:AS'
s Altman Z-Score Range Over the Past 10 Years
Min: -2.68 Med: 4.15 Max: 21.53
Current: 3.78
During the past 13 years, Asphere Innovations PCL's highest Altman Z-Score was 21.53. The lowest was -2.68. And the median was 4.15.
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.
BKK:AS vs NTES, EA, TTWO: Altman Z-Score Comparison
For the Electronic Gaming & Multimedia subindustry, Asphere Innovations PCL'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.
Asphere Innovations PCL Altman Z-Score vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Asphere Innovations PCL's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Asphere Innovations PCL'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.
Asphere Innovations PCL (BKK:AS) has a Altman Z-Score of 3.77 as of Jun. 27, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Asphere Innovations PCL and its competitors. This is near median its historical median of 4.15. According to the industry distribution chart, Asphere Innovations PCL ranks #240 out of 550 companies in the Interactive Media industry, placing it in the top 43.6%.
Is Asphere Innovations PCL's Altman Z-Score too high?
Asphere Innovations PCL's current Altman Z-Score of 3.77 is near median its 10-year median of 4.15. The Interactive Media industry median Altman Z-Score is 3.07. Asphere Innovations PCL's value of 3.77 is 23% above this industry median. Based on the distribution chart, Asphere Innovations PCL ranks #240 out of 550 companies in the Interactive Media industry, which is above the industry midpoint. Overall, Asphere Innovations PCL has a GF Score™ of 67/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Asphere Innovations PCL's Altman Z-Score compare to NTES and EA?
According to the Interactive Media industry distribution chart, Asphere Innovations PCL ranks #240 out of 550 companies for Altman Z-Score. This puts Asphere Innovations PCL in the upper half of its industry. The industry median Altman Z-Score is 3.07. Asphere Innovations PCL's value of 3.77 is 23% above this benchmark. While the company's 10-year median is 4.15 vs. the industry median of 3.07, Asphere Innovations PCL 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 Interactive Media company?
The median Altman Z-Score among Interactive Media companies is 3.07, based on 550 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. Asphere Innovations PCL's current Altman Z-Score of 3.77 is 23% 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 Asphere Innovations PCL and its competitors. For the Interactive Media industry, the median Altman Z-Score is 3.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asphere Innovations PCL's current Altman Z-Score is 3.77, which is near median its own 10-year median of 4.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asphere Innovations PCL stock overvalued right now?
Based on GuruFocus' analysis, Asphere Innovations PCL (BKK:AS) is currently considered Possible Value Trap. The stock's GF Value™ is ฿3.77, compared to a current price of ฿2.28 — trading 39.5% below its estimated fair value. The current Altman Z-Score is 3.77, which is near median its 10-year median of 4.15 and 23% above the Interactive Media industry median of 3.07. Asphere Innovations PCL's overall GF Score™ is 67/100 with 5 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 Asphere Innovations PCL (BKK:AS), the current Altman Z-Score is 3.77 as of Jun. 27, 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 Asphere Innovations PCL (BKK:AS) Overvalued in 2026?
Based on GuruFocus' analysis, Asphere Innovations PCL stock appears to be undervalued.
The current stock price of ฿2.28 is trading 39.5% below its estimated GF Value™ of ฿3.77.
GuruFocus considers Asphere Innovations PCL to be Possible Value Trap.
Key valuation signals for BKK:AS:
Altman Z-Score: 3.77 (near median its 10-year median of 4.15)
GF Value™: ฿3.77 vs. price of ฿2.28 (39.5% below fair value)
Industry Position: 23% above the Interactive Media median (#240 of 550)
No single metric tells the full story. See the BKK:AS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asphere Innovations PCL is engaged in providing online game services. The Company operates in two segments: the publishing online game segment, which contributes the majority of the revenue and provides online game publishing services through the internet based on agreements between the publisher and game developers; and the distribution segment, which provides payment channel services. Other income mainly comprises revenue from the provision of marketing services. The Company offers a collection of games across PC and mobile platforms, covering genres such as MMORPG, Casual, SRPG, FPS, and MOBA. It operates in Thailand, Singapore, Vietnam, and other countries, with Singapore contributing the majority of the revenue.
67GF Score
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