Haad Thip PCLBKK:HTC +0.64%81 Altman Z-Score is 2.86 as of Jul. 11, 2026, which is 11% below its 10-year median of 3.20. GuruFocus rates BKK:HTC with a GF Score™ of 81/100 and a GF Value™ of ฿16.68 (Fairly Valued). The stock has 5 warning signs investors should review. Among 112 Beverages - Non-Alcoholic companies, Haad Thip PCL ranks worse than 58.04% 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 2.86 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.
Haad Thip PCL has a Altman Z-Score of 2.86, indicating it is in Grey Zones. This implies that Haad Thip 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.
The historical rank and industry rank for Haad Thip PCL's Altman Z-Score or its related term are showing as below:
BKK:HTC'
s Altman Z-Score Range Over the Past 10 Years
Min: 2.4 Med: 3.2 Max: 4.36
Current: 2.86
During the past 13 years, Haad Thip PCL's highest Altman Z-Score was 4.36. The lowest was 2.40. And the median was 3.20.
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.
Haad Thip PCL Altman Z-Score Related Terms
Haad Thip PCL Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Haad Thip PCL'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.
BKK:HTC vs KO, PEP, MNST: Altman Z-Score Comparison
For the Beverages - Non-Alcoholic subindustry, Haad Thip 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.
Haad Thip PCL Altman Z-Score vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Haad Thip PCL's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Haad Thip 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.
Haad Thip PCL'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
*
0.0244
+
1.4
*
0.2746
+
3.3
*
0.0955
+
0.6
*
1.7772
+
1.0
*
1.0617
=
2.86
* 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.
Haad Thip PCL (BKK:HTC) has a Altman Z-Score of 2.86 as of Jul. 11, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Haad Thip PCL and its competitors. This is 11% below median its historical median of 3.20. Over the past decade, Haad Thip PCL's Altman Z-Score has ranged from 2.40 to 4.36. According to the industry distribution chart, Haad Thip PCL ranks #65 out of 112 companies in the Beverages - Non-Alcoholic industry, placing it in the top 58%.
Is Haad Thip PCL's Altman Z-Score too high?
Haad Thip PCL's current Altman Z-Score of 2.86 is 11% below median its 10-year median of 3.20. Over the past 10 years, this metric has ranged from a low of 2.40 to a high of 4.36. The Beverages - Non-Alcoholic industry median Altman Z-Score is 3.42. Haad Thip PCL's value of 2.86 is 16.3% below this industry median. Based on the distribution chart, Haad Thip PCL ranks #65 out of 112 companies in the Beverages - Non-Alcoholic industry, which is below the industry midpoint. Overall, Haad Thip PCL has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Haad Thip PCL's Altman Z-Score compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, Haad Thip PCL ranks #65 out of 112 companies for Altman Z-Score. This places Haad Thip PCL in the lower half of its industry. The industry median Altman Z-Score is 3.42. Haad Thip PCL's value of 2.86 is 16.3% below this benchmark. Historically, Haad Thip PCL's own Altman Z-Score has ranged from 2.40 to 4.36 over the past decade. While the company's 10-year median is 3.20 vs. the industry median of 3.42, Haad Thip 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 Beverages - Non-Alcoholic company?
The median Altman Z-Score among Beverages - Non-Alcoholic companies is 3.42, based on 112 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. Haad Thip PCL's current Altman Z-Score of 2.86 is 16.3% 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 Haad Thip PCL and its competitors. For the Beverages - Non-Alcoholic industry, the median Altman Z-Score is 3.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Haad Thip PCL's current Altman Z-Score is 2.86, which is 11% below median its own 10-year median of 3.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Haad Thip PCL stock overvalued right now?
Based on GuruFocus' analysis, Haad Thip PCL (BKK:HTC) is currently considered Fairly Valued. The stock's GF Value™ is ฿16.68, compared to a current price of ฿15.80 — trading 5.3% below its estimated fair value. The current Altman Z-Score is 2.86, which is 11% below median its 10-year median of 3.20 and 16.3% below the Beverages - Non-Alcoholic industry median of 3.42. Haad Thip PCL's overall GF Score™ is 81/100 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 Haad Thip PCL (BKK:HTC), the current Altman Z-Score is 2.86 as of Jul. 11, 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 Haad Thip PCL (BKK:HTC) Overvalued in 2026?
Based on GuruFocus' analysis, Haad Thip PCL stock appears to be undervalued.
The current stock price of ฿15.80 is trading 5.3% below its estimated GF Value™ of ฿16.68.
GuruFocus considers Haad Thip PCL to be Fairly Valued.
Key valuation signals for BKK:HTC:
Altman Z-Score: 2.86 (11% below median its 10-year median of 3.20)
GF Value™: ฿16.68 vs. price of ฿15.80 (5.3% below fair value)
Industry Position: 16.3% below the Beverages - Non-Alcoholic median (#65 of 112)
No single metric tells the full story. See the BKK:HTC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Haad Thip PCL is engaged in the manufacture and distribution of soft drinks. The company has been granted a franchise by Coca-Cola in the United States to be a producer and distributor of carbonated drinks under the trademarks of Coca-Cola, Fanta, and Sprite, and other non-carbonated products owned by Coca-Cola Company, such as Minute Maid Splash and Namthip Drinking Water. Its brands include Coca-Cola, Sprite, Fanta, Minute Maid, Namthip, A&W, and Aquarius. The company operates business in two segments, namely Carbonated soft drink that produces and distributes soft drinks, and sport drink, including as distributor of other beverages; and Real estate. The majority of its revenue is derived from Carbonated soft drink segment.
81GF Score
Get the complete analysis for BKK:HTC
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
BKK:HTC has been successfully added to your 
