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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 24.42 is strong.
Panasonic Carbon India Co has a Altman Z-Score of 24.48, 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 Panasonic Carbon India Co's Altman Z-Score or its related term are showing as below:
BOM:508941'
s Altman Z-Score Range Over the Past 10 Years
Min: 16.17 Med: 22.6 Max: 26.31
Current: 24.42
During the past 13 years, Panasonic Carbon India Co's highest Altman Z-Score was 26.31. The lowest was 16.17. And the median was 22.60.
Panasonic Carbon India Co (BOM:508941) 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.
For the Electronic Components subindustry, Panasonic Carbon India Co'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.
Panasonic Carbon India Co Altman Z-Score vs Hardware Industry
For the Hardware industry and Technology sector, Panasonic Carbon India Co's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Panasonic Carbon India Co's Altman Z-Score falls into.
Panasonic Carbon India Co 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.
Panasonic Carbon India Co (BOM:508941) has a Altman Z-Score of 24.48 as of Jul. 22, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Panasonic Carbon India Co and its competitors. This is near median its historical median of 22.60. Over the past decade, Panasonic Carbon India Co's Altman Z-Score has ranged from 16.17 to 26.31. According to the industry distribution chart, Panasonic Carbon India Co ranks #99 out of 2459 companies in the Hardware industry, placing it in the top 4%.
Is Panasonic Carbon India Co's Altman Z-Score too high?
Panasonic Carbon India Co's current Altman Z-Score of 24.48 is near median its 10-year median of 22.60. Over the past 10 years, this metric has ranged from a low of 16.17 to a high of 26.31. The Hardware industry median Altman Z-Score is 3.45. Panasonic Carbon India Co's value of 24.48 is 609.6% above this industry median. Based on the distribution chart, Panasonic Carbon India Co ranks #99 out of 2459 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Panasonic Carbon India Co has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Panasonic Carbon India Co's Altman Z-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Panasonic Carbon India Co ranks #99 out of 2459 companies for Altman Z-Score. This places Panasonic Carbon India Co in the top 4% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 3.45. Panasonic Carbon India Co's value of 24.48 is 609.6% above this benchmark. Historically, Panasonic Carbon India Co's own Altman Z-Score has ranged from 16.17 to 26.31 over the past decade. While the company's 10-year median is 22.60 vs. the industry median of 3.45, Panasonic Carbon India Co 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 Hardware company?
The median Altman Z-Score among Hardware companies is 3.45, based on 2,459 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. Panasonic Carbon India Co's current Altman Z-Score of 24.48 is 609.6% 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 Panasonic Carbon India Co and its competitors. For the Hardware industry, the median Altman Z-Score is 3.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Panasonic Carbon India Co's current Altman Z-Score is 24.48, which is near median its own 10-year median of 22.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Panasonic Carbon India Co stock overvalued right now?
Based on GuruFocus' analysis, Panasonic Carbon India Co (BOM:508941) is currently considered Fairly Valued. The stock's GF Value™ is ₹510.72, compared to a current price of ₹462.55 — trading 9.4% below its estimated fair value. The current Altman Z-Score is 24.48, which is near median its 10-year median of 22.60 and 609.6% above the Hardware industry median of 3.45. Panasonic Carbon India Co's overall GF Score™ is 74/100 with 1 warning sign 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 Panasonic Carbon India Co (BOM:508941), the current Altman Z-Score is 24.48 as of Jul. 22, 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 Panasonic Carbon India Co (BOM:508941) Overvalued in 2026?
Based on GuruFocus' analysis, Panasonic Carbon India Co stock appears to be undervalued.
The current stock price of ₹462.55 is trading 9.4% below its estimated GF Value™ of ₹510.72.
GuruFocus considers Panasonic Carbon India Co to be Fairly Valued.
Key valuation signals for BOM:508941:
Altman Z-Score: 24.48 (near median its 10-year median of 22.60)
GF Value™: ₹510.72 vs. price of ₹462.55 (9.4% below fair value)
Industry Position: 609.6% above the Hardware median (#99 of 2459)
No single metric tells the full story. See the BOM:508941 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Panasonic Carbon India Co Ltd is engaged in the manufacture of carbon rods/carbon electrodes, which are used as a key component in dry cell batteries, catering to both domestic and export markets, including supplies to Panasonic group companies. Its product is carbon rods. The Company operates a manufacturing facility in Nellore District, Andhra Pradesh, and supplies its products to battery manufacturers in India as well as to overseas customers. Geographically, the Company operates in India and the rest of the world, with India generating maximum revenue.
74GF Score
Get the complete analysis for BOM:508941
Altman Z-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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