Millionaire Property FundBKK:MIPF 79 Altman Z-Score is 17.83 as of Jun. 28, 2026, which is 35% below its 10-year median of 27.41. GuruFocus rates BKK:MIPF with a GF Score™ of 79/100 and a GF Value™ of ฿10.93 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 739 REITs companies, Millionaire Property Fund ranks better than 93.23% 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 17.83 is strong.
Millionaire Property Fund has a Altman Z-Score of 17.83, 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 Millionaire Property Fund's Altman Z-Score or its related term are showing as below:
BKK:MIPF'
s Altman Z-Score Range Over the Past 10 Years
Min: 14.14 Med: 27.41 Max: 35.64
Current: 17.83
During the past 13 years, Millionaire Property Fund's highest Altman Z-Score was 35.64. The lowest was 14.14. And the median was 27.41.
Millionaire Property Fund (BKK:MIPF) 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.
BKK:MIPF vs BXP, ARE, VNO: Altman Z-Score Comparison
For the REIT - Office subindustry, Millionaire Property Fund'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.
Millionaire Property Fund Altman Z-Score vs REITs Industry
For the REITs industry and Real Estate sector, Millionaire Property Fund's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Millionaire Property Fund's Altman Z-Score falls into.
Millionaire Property Fund 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.
Millionaire Property Fund (BKK:MIPF) has a Altman Z-Score of 17.83 as of Jun. 28, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Millionaire Property Fund and its competitors. This is 35% below median its historical median of 27.41. Over the past decade, Millionaire Property Fund's Altman Z-Score has ranged from 14.14 to 35.64. According to the industry distribution chart, Millionaire Property Fund ranks #50 out of 739 companies in the REITs industry, placing it in the top 6.8%.
Is Millionaire Property Fund's Altman Z-Score too high?
Millionaire Property Fund's current Altman Z-Score of 17.83 is 35% below median its 10-year median of 27.41. Over the past 10 years, this metric has ranged from a low of 14.14 to a high of 35.64. The REITs industry median Altman Z-Score is 1.09. Millionaire Property Fund's value of 17.83 is 1535.8% above this industry median. Based on the distribution chart, Millionaire Property Fund ranks #50 out of 739 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Millionaire Property Fund has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Millionaire Property Fund's Altman Z-Score compare to BXP and ARE?
According to the REITs industry distribution chart, Millionaire Property Fund ranks #50 out of 739 companies for Altman Z-Score. This places Millionaire Property Fund in the top 7% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 1.09. Millionaire Property Fund's value of 17.83 is 1535.8% above this benchmark. Historically, Millionaire Property Fund's own Altman Z-Score has ranged from 14.14 to 35.64 over the past decade. While the company's 10-year median is 27.41 vs. the industry median of 1.09, Millionaire Property Fund 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 REITs company?
The median Altman Z-Score among REITs companies is 1.09, based on 739 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. Millionaire Property Fund's current Altman Z-Score of 17.83 is 1535.8% 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 Millionaire Property Fund and its competitors. For the REITs industry, the median Altman Z-Score is 1.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Millionaire Property Fund's current Altman Z-Score is 17.83, which is 35% below median its own 10-year median of 27.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Millionaire Property Fund stock overvalued right now?
Based on GuruFocus' analysis, Millionaire Property Fund (BKK:MIPF) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿10.93, compared to a current price of ฿9.20 — trading 15.8% below its estimated fair value. The current Altman Z-Score is 17.83, which is 35% below median its 10-year median of 27.41 and 1535.8% above the REITs industry median of 1.09. Millionaire Property Fund's overall GF Score™ is 79/100 with 2 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 Millionaire Property Fund (BKK:MIPF), the current Altman Z-Score is 17.83 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.
Is Millionaire Property Fund (BKK:MIPF) Overvalued in 2026?
Based on GuruFocus' analysis, Millionaire Property Fund stock appears to be undervalued.
The current stock price of ฿9.20 is trading 15.8% below its estimated GF Value™ of ฿10.93.
GuruFocus considers Millionaire Property Fund to be Modestly Undervalued.
Key valuation signals for BKK:MIPF:
Altman Z-Score: 17.83 (35% below median its 10-year median of 27.41)
GF Value™: ฿10.93 vs. price of ฿9.20 (15.8% below fair value)
Industry Position: 1535.8% above the REITs median (#50 of 739)
No single metric tells the full story. See the BKK:MIPF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Millionaire Property Fund is a close-ended property fund with no maturity date. The objective of the company is to mobilize funds from the sale of investment units to purchase and/or lease property and procure benefits from such property. The Fund operates in only one business segment which is property investments and the business is only operated in Thailand.
79GF Score
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