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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 0.48 is in distress zone. This implies bankruptcy possibility in the next two years.
Capital Engineering Network PCL has a Altman Z-Score of 0.47, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
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 Capital Engineering Network PCL's Altman Z-Score or its related term are showing as below:
BKK:CEN'
s Altman Z-Score Range Over the Past 10 Years
Min: -0.86 Med: 1.19 Max: 3.13
Current: 0.48
During the past 13 years, Capital Engineering Network PCL's highest Altman Z-Score was 3.13. The lowest was -0.86. And the median was 1.19.
Capital Engineering Network PCL (BKK:CEN) 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.
* 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.
Capital Engineering Network PCL Altman Z-Score Chart
BKK:CEN vs NUE, STLD, RS: Altman Z-Score Comparison
For the Steel subindustry, Capital Engineering Network 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.
Capital Engineering Network PCL Altman Z-Score vs Steel Industry
For the Steel industry and Basic Materials sector, Capital Engineering Network PCL's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Capital Engineering Network PCL's Altman Z-Score falls into.
Capital Engineering Network PCL Altman Z-Score Calculation
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.
Capital Engineering Network PCL (BKK:CEN) has a Altman Z-Score of 0.47 as of Jul. 14, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Capital Engineering Network PCL and its competitors. This is 61% below median its historical median of 1.19. According to the industry distribution chart, Capital Engineering Network PCL ranks #559 out of 608 companies in the Steel industry, placing it in the top 91.9%.
Is Capital Engineering Network PCL's Altman Z-Score too high?
Capital Engineering Network PCL's current Altman Z-Score of 0.47 is 61% below median its 10-year median of 1.19. The Steel industry median Altman Z-Score is 2.45. Capital Engineering Network PCL's value of 0.47 is 80.8% below this industry median. Based on the distribution chart, Capital Engineering Network PCL ranks #559 out of 608 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Capital Engineering Network PCL has a GF Score™ of 37/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Capital Engineering Network PCL's Altman Z-Score compare to NUE and STLD?
According to the Steel industry distribution chart, Capital Engineering Network PCL ranks #559 out of 608 companies for Altman Z-Score. This places Capital Engineering Network PCL in the lower half of its industry. The industry median Altman Z-Score is 2.45. Capital Engineering Network PCL's value of 0.47 is 80.8% below this benchmark. While the company's 10-year median is 1.19 vs. the industry median of 2.45, Capital Engineering Network PCL 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 a Steel company?
The median Altman Z-Score among Steel companies is 2.45, based on 608 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. Capital Engineering Network PCL's current Altman Z-Score of 0.47 is 80.8% 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 Capital Engineering Network PCL and its competitors. For the Steel industry, the median Altman Z-Score is 2.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Capital Engineering Network PCL's current Altman Z-Score is 0.47, which is 61% below median its own 10-year median of 1.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Capital Engineering Network PCL stock overvalued right now?
Based on GuruFocus' analysis, Capital Engineering Network PCL (BKK:CEN) is currently considered Possible Value Trap. The stock's GF Value™ is ฿1.41, compared to a current price of ฿0.60 — trading 57.4% below its estimated fair value. The current Altman Z-Score is 0.47, which is 61% below median its 10-year median of 1.19 and 80.8% below the Steel industry median of 2.45. Capital Engineering Network PCL's overall GF Score™ is 37/100 with 4 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 Capital Engineering Network PCL (BKK:CEN), the current Altman Z-Score is 0.47 as of Jul. 14, 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 Capital Engineering Network PCL (BKK:CEN) Overvalued in 2026?
Based on GuruFocus' analysis, Capital Engineering Network PCL stock appears to be undervalued.
The current stock price of ฿0.60 is trading 57.4% below its estimated GF Value™ of ฿1.41.
GuruFocus considers Capital Engineering Network PCL to be Possible Value Trap.
Key valuation signals for BKK:CEN:
Altman Z-Score: 0.47 (61% below median its 10-year median of 1.19)
GF Value™: ฿1.41 vs. price of ฿0.60 (57.4% below fair value)
Industry Position: 80.8% below the Steel median (#559 of 608)
No single metric tells the full story. See the BKK:CEN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Capital Engineering Network PCL Business Description
Capital Engineering Network PCL is engaged in the production and distribution of engineering construction material, transmission tower and renewable energy, and telecom implementation services. The operating segments of the group are investing in other companies segment, steel wire segment, production and distribution of high voltage transmission tower and telecommunication tower, electricity and thermal energy segment, distribution of goods segment, telecom implementation service segment and clinic service segment. It has a business presence in Thailand and the Philippines, of which a majority of revenue is derived from Thailand and Steel Wire Segment.
37GF Score
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