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XSpring Capital PCLBKK:XPG 38 Altman Z-Score is 9.84 as of Aug. 13, 2026, which is 36% above its 10-year median of 7.22. GuruFocus rates BKK:XPG with a GF Score™ of 38/100. The stock has 3 warning signs investors should review. Among 653 Asset Management companies, XSpring Capital PCL ranks better than 76.72% 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 10.03 is strong.
XSpring Capital PCL has a Altman Z-Score of 9.84, 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 XSpring Capital PCL's Altman Z-Score or its related term are showing as below:
BKK:XPG'
s Altman Z-Score Range Over the Past 10 Years
Min: 0.48 Med: 7.22 Max: 31.16
Current: 10.03
During the past 13 years, XSpring Capital PCL's highest Altman Z-Score was 31.16. The lowest was 0.48. And the median was 7.22.
XSpring Capital PCL (BKK:XPG) 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.
Altman Z-Score does not apply to financial companies.
XSpring Capital PCL Altman Z-Score Related Terms
XSpring Capital PCL Altman Z-Score Historical Data
* Premium members only.
The historical data trend for XSpring Capital 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:XPG vs BLK, BX, KKR: Altman Z-Score Comparison
For the Asset Management subindustry, XSpring Capital 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.
XSpring Capital PCL Altman Z-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, XSpring Capital PCL's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where XSpring Capital 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.
XSpring Capital 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
*
0.6367
+
1.4
*
0.0249
+
3.3
*
0.018
+
0.6
*
14.8477
+
1.0
*
0.0768
=
9.84
* 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.
XSpring Capital PCL (BKK:XPG) has a Altman Z-Score of 9.84 as of Aug. 13, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on XSpring Capital PCL and its competitors. This is 36% above median its historical median of 7.22. Over the past decade, XSpring Capital PCL's Altman Z-Score has ranged from 0.48 to 31.16. According to the industry distribution chart, XSpring Capital PCL ranks #152 out of 653 companies in the Asset Management industry, placing it in the top 23.3%.
Is XSpring Capital PCL's Altman Z-Score too high?
XSpring Capital PCL's current Altman Z-Score of 9.84 is 36% above median its 10-year median of 7.22. Over the past 10 years, this metric has ranged from a low of 0.48 to a high of 31.16. The Asset Management industry median Altman Z-Score is 3.60. XSpring Capital PCL's value of 9.84 is 173.3% above this industry median. Based on the distribution chart, XSpring Capital PCL ranks #152 out of 653 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, XSpring Capital PCL has a GF Score™ of 38/100, reflecting its overall financial health beyond just this single metric.
How does XSpring Capital PCL's Altman Z-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, XSpring Capital PCL ranks #152 out of 653 companies for Altman Z-Score. This places XSpring Capital PCL in the top 23% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 3.60. XSpring Capital PCL's value of 9.84 is 173.3% above this benchmark. Historically, XSpring Capital PCL's own Altman Z-Score has ranged from 0.48 to 31.16 over the past decade. While the company's 10-year median is 7.22 vs. the industry median of 3.60, XSpring Capital 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 an Asset Management company?
The median Altman Z-Score among Asset Management companies is 3.60, based on 653 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. XSpring Capital PCL's current Altman Z-Score of 9.84 is 173.3% 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 XSpring Capital PCL and its competitors. For the Asset Management industry, the median Altman Z-Score is 3.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. XSpring Capital PCL's current Altman Z-Score is 9.84, which is 36% above median its own 10-year median of 7.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is XSpring Capital PCL stock overvalued right now?
XSpring Capital PCL (BKK:XPG) has a current Altman Z-Score of 9.84. The current Altman Z-Score is 9.84, which is 36% above median its 10-year median of 7.22 and 173.3% above the Asset Management industry median of 3.60. XSpring Capital PCL's overall GF Score™ is 38/100 with 3 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 XSpring Capital PCL (BKK:XPG), the current Altman Z-Score is 9.84 as of Aug. 13, 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.
XSpring Capital PCL is engaged in investment holding in other businesses. The subsidiaries' businesses include fund management business, non-performing assets management business, digital asset business and investment holding business. The company's reportable segments are as follows: i) Securities segment, ii) Fund asset management segment, iii) Digital assets segment, iv) Asset management, and v) Investment and other segment. The majority of the company's revenue is derived from the Fund asset management segment.
38GF Score
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