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 2.22 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.
Communication and System Solution PCL has a Altman Z-Score of 2.21, indicating it is in Grey Zones. This implies that Communication and System Solution PCL 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.
Communication and System Solution PCL (BKK:CSS) 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.
Communication and System Solution PCL Altman Z-Score Chart
BKK:CSS vs SNX, ARW, AVT: Altman Z-Score Comparison
For the Electronics & Computer Distribution subindustry, Communication and System Solution 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.
Communication and System Solution PCL Altman Z-Score vs Hardware Industry
Communication and System Solution 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.
Communication and System Solution PCL (BKK:CSS) has a Altman Z-Score of 2.21 as of Jun. 24, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Communication and System Solution PCL and its competitors. This is 12% below median its historical median of 2.52. Over the past decade, Communication and System Solution PCL's Altman Z-Score has ranged from 1.70 to 3.73. According to the industry distribution chart, Communication and System Solution PCL ranks #1796 out of 2456 companies in the Hardware industry, placing it in the top 73.1%.
Is Communication and System Solution PCL's Altman Z-Score too high?
Communication and System Solution PCL's current Altman Z-Score of 2.21 is 12% below median its 10-year median of 2.52. Over the past 10 years, this metric has ranged from a low of 1.70 to a high of 3.73. The Hardware industry median Altman Z-Score is 3.71. Communication and System Solution PCL's value of 2.21 is 40.4% below this industry median. Based on the distribution chart, Communication and System Solution PCL ranks #1796 out of 2456 companies in the Hardware industry, which is below the industry midpoint. Overall, Communication and System Solution PCL has a GF Score™ of 49/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Communication and System Solution PCL's Altman Z-Score compare to SNX and ARW?
According to the Hardware industry distribution chart, Communication and System Solution PCL ranks #1796 out of 2456 companies for Altman Z-Score. This places Communication and System Solution PCL in the lower half of its industry. The industry median Altman Z-Score is 3.71. Communication and System Solution PCL's value of 2.21 is 40.4% below this benchmark. Historically, Communication and System Solution PCL's own Altman Z-Score has ranged from 1.70 to 3.73 over the past decade. While the company's 10-year median is 2.52 vs. the industry median of 3.71, Communication and System Solution 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 Hardware company?
The median Altman Z-Score among Hardware companies is 3.71, based on 2,456 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. Communication and System Solution PCL's current Altman Z-Score of 2.21 is 40.4% 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 Communication and System Solution PCL and its competitors. For the Hardware industry, the median Altman Z-Score is 3.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Communication and System Solution PCL's current Altman Z-Score is 2.21, which is 12% below median its own 10-year median of 2.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Communication and System Solution PCL stock overvalued right now?
Based on GuruFocus' analysis, Communication and System Solution PCL (BKK:CSS) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿0.82, compared to a current price of ฿0.96 — trading 17.1% above its estimated fair value. The current Altman Z-Score is 2.21, which is 12% below median its 10-year median of 2.52 and 40.4% below the Hardware industry median of 3.71. Communication and System Solution PCL's overall GF Score™ is 49/100 with 10 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 Communication and System Solution PCL (BKK:CSS), the current Altman Z-Score is 2.21 as of Jun. 24, 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 Communication and System Solution PCL (BKK:CSS) Overvalued in 2026?
Based on GuruFocus' analysis, Communication and System Solution PCL stock appears to be overvalued.
The current stock price of ฿0.96 is trading 17.1% above its estimated GF Value™ of ฿0.82.
GuruFocus considers Communication and System Solution PCL to be Modestly Overvalued.
Key valuation signals for BKK:CSS:
Altman Z-Score: 2.21 (12% below median its 10-year median of 2.52)
GF Value™: ฿0.82 vs. price of ฿0.96 (17.1% above fair value)
Industry Position: 40.4% below the Hardware median (#1796 of 2456)
No single metric tells the full story. See the BKK:CSS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Communication and System Solution PCL Business Description
Communication and System Solution PCL is a Thailand-based company engaged in the distribution and installation of equipment for electricity, water, air conditioning, and telecommunication systems. It operates in two segments: the Distribution electrical equipment segment and the Installation service segment. The Distribution electrical equipment segment operates as a distributor of electrical wires and other types of electrical systems equipment, as well as passive fire protection materials. The installation service segment is engaged in the design and installation of the communication system, fire protection systems, and maintenance services. The company derives a majority of its revenue from the Distribution of electrical equipment.
49GF Score
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