Tipco Asphalt PCLBKK:TASCO-R 83 Altman Z-Score is 3.77 as of Jun. 25, 2026, which is 16% below its 10-year median of 4.49. GuruFocus rates BKK:TASCO-R with a GF Score™ of 83/100 and a GF Value™ of ฿13.03. The stock has 6 warning signs investors should review. Among 404 Building Materials companies, Tipco Asphalt PCL ranks better than 73.51% 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 3.77 is strong.
Tipco Asphalt 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 Tipco Asphalt PCL's Altman Z-Score or its related term are showing as below:
BKK:TASCO-R'
s Altman Z-Score Range Over the Past 10 Years
Min: 3.17 Med: 4.49 Max: 7.79
Current: 3.77
During the past 13 years, Tipco Asphalt PCL's highest Altman Z-Score was 7.79. The lowest was 3.17. And the median was 4.49.
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.
Tipco Asphalt PCL Altman Z-Score Related Terms
Tipco Asphalt PCL Altman Z-Score Historical Data
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The historical data trend for Tipco Asphalt 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:TASCO-R vs CRH, VMC, MLM: Altman Z-Score Comparison
For the Building Materials subindustry, Tipco Asphalt 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.
Tipco Asphalt PCL Altman Z-Score vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Tipco Asphalt PCL's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Tipco Asphalt 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.
Tipco Asphalt 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
*
0.25
+
1.4
*
0.5266
+
3.3
*
0.0666
+
0.6
*
2.2737
+
1.0
*
1.1489
=
3.77
* 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.
Tipco Asphalt PCL (BKK:TASCO-R) has a Altman Z-Score of 3.77 as of Jun. 25, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Tipco Asphalt PCL and its competitors. This is 16% below median its historical median of 4.49. Over the past decade, Tipco Asphalt PCL's Altman Z-Score has ranged from 3.17 to 7.79. According to the industry distribution chart, Tipco Asphalt PCL ranks #107 out of 404 companies in the Building Materials industry, placing it in the top 26.5%.
Is Tipco Asphalt PCL's Altman Z-Score too high?
Tipco Asphalt PCL's current Altman Z-Score of 3.77 is 16% below median its 10-year median of 4.49. Over the past 10 years, this metric has ranged from a low of 3.17 to a high of 7.79. The Building Materials industry median Altman Z-Score is 2.26. Tipco Asphalt PCL's value of 3.77 is 66.8% above this industry median. Based on the distribution chart, Tipco Asphalt PCL ranks #107 out of 404 companies in the Building Materials industry, which is above the industry midpoint. Overall, Tipco Asphalt PCL has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does Tipco Asphalt PCL's Altman Z-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, Tipco Asphalt PCL ranks #107 out of 404 companies for Altman Z-Score. This puts Tipco Asphalt PCL in the upper half of its industry. The industry median Altman Z-Score is 2.26. Tipco Asphalt PCL's value of 3.77 is 66.8% above this benchmark. Historically, Tipco Asphalt PCL's own Altman Z-Score has ranged from 3.17 to 7.79 over the past decade. While the company's 10-year median is 4.49 vs. the industry median of 2.26, Tipco Asphalt 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 a Building Materials company?
The median Altman Z-Score among Building Materials companies is 2.26, based on 404 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. Tipco Asphalt PCL's current Altman Z-Score of 3.77 is 66.8% 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 Tipco Asphalt PCL and its competitors. For the Building Materials industry, the median Altman Z-Score is 2.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tipco Asphalt PCL's current Altman Z-Score is 3.77, which is 16% below median its own 10-year median of 4.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tipco Asphalt PCL stock overvalued right now?
Tipco Asphalt PCL (BKK:TASCO-R) has a current Altman Z-Score of 3.77. The stock's GF Value™ is ฿13.03, compared to a current price of ฿13.09 — trading 0.4% above its estimated fair value. The current Altman Z-Score is 3.77, which is 16% below median its 10-year median of 4.49 and 66.8% above the Building Materials industry median of 2.26. Tipco Asphalt PCL's overall GF Score™ is 83/100 with 6 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 Tipco Asphalt PCL (BKK:TASCO-R), the current Altman Z-Score is 3.77 as of Jun. 25, 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 Tipco Asphalt PCL (BKK:TASCO-R) Overvalued in 2026?
Based on GuruFocus' analysis, Tipco Asphalt PCL stock appears to be overvalued.
The current stock price of ฿13.09 is trading 0.4% above its estimated GF Value™ of ฿13.03.
Key valuation signals for BKK:TASCO-R:
Altman Z-Score: 3.77 (16% below median its 10-year median of 4.49)
GF Value™: ฿13.03 vs. price of ฿13.09 (0.4% above fair value)
Industry Position: 66.8% above the Building Materials median (#107 of 404)
No single metric tells the full story. See the BKK:TASCO-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tipco Asphalt PCL is engaged in the production and sale of asphalt and petroleum-related products, as well as the provision of construction materials and related services. The company operates through two reportable segments: the Construction segment and the Manufacturing and Trading segment. The Construction segment conducts construction services related to highway construction and road rehabilitation in Thailand. The Manufacturing and Trading segment is involved in the manufacturing and trading of asphalt, petroleum oil products, and asphalt concrete in both domestic and overseas markets, supported by marine logistics operations. It generates the majority of its revenue from the Manufacturing and Trading segment.
83GF Score
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