Bursa Malaysia BhdBSMAF 73 Altman Z-Score is 2.26 as of Jun. 27, 2026, which is 18% below its 10-year median of 2.74. GuruFocus rates BSMAF with a GF Score™ of 73/100 and a GF Value™ of $1.42 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 658 Capital Markets companies, Bursa Malaysia Bhd ranks worse than 52.28% 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 2.38 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.
Bursa Malaysia Bhd has a Altman Z-Score of 2.26, indicating it is in Grey Zones. This implies that Bursa Malaysia Bhd 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 Bursa Malaysia Bhd's Altman Z-Score or its related term are showing as below:
BSMAF'
s Altman Z-Score Range Over the Past 10 Years
Min: 1.13 Med: 2.74 Max: 3.43
Current: 2.38
During the past 13 years, Bursa Malaysia Bhd's highest Altman Z-Score was 3.43. The lowest was 1.13. And the median was 2.74.
Bursa Malaysia Bhd (OTCPK:BSMAF) 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.
Bursa Malaysia Bhd Altman Z-Score Related Terms
Bursa Malaysia Bhd Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Bursa Malaysia Bhd'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.
BSMAF vs SPGI, CME, ICE: Altman Z-Score Comparison
For the Financial Data & Stock Exchanges subindustry, Bursa Malaysia Bhd'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.
Bursa Malaysia Bhd Altman Z-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Bursa Malaysia Bhd's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Bursa Malaysia Bhd'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.
Bursa Malaysia Bhd'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
*
0.1174
+
1.4
*
0.0853
+
3.3
*
0.0966
+
0.6
*
2.4624
+
1.0
*
0.2048
=
2.26
* 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.
Bursa Malaysia Bhd (BSMAF) has a Altman Z-Score of 2.26 as of Jun. 27, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Bursa Malaysia Bhd and its competitors. This is 18% below median its historical median of 2.74. Over the past decade, Bursa Malaysia Bhd's Altman Z-Score has ranged from 1.13 to 3.43. According to the industry distribution chart, Bursa Malaysia Bhd ranks #344 out of 658 companies in the Capital Markets industry, placing it in the top 52.3%.
Is Bursa Malaysia Bhd's Altman Z-Score too high?
Bursa Malaysia Bhd's current Altman Z-Score of 2.26 is 18% below median its 10-year median of 2.74. Over the past 10 years, this metric has ranged from a low of 1.13 to a high of 3.43. The Capital Markets industry median Altman Z-Score is 2.57. Bursa Malaysia Bhd's value of 2.26 is 11.9% below this industry median. Based on the distribution chart, Bursa Malaysia Bhd ranks #344 out of 658 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Bursa Malaysia Bhd has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bursa Malaysia Bhd's Altman Z-Score compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Bursa Malaysia Bhd ranks #344 out of 658 companies for Altman Z-Score. This places Bursa Malaysia Bhd in the lower half of its industry. The industry median Altman Z-Score is 2.57. Bursa Malaysia Bhd's value of 2.26 is 11.9% below this benchmark. Historically, Bursa Malaysia Bhd's own Altman Z-Score has ranged from 1.13 to 3.43 over the past decade. While the company's 10-year median is 2.74 vs. the industry median of 2.57, Bursa Malaysia Bhd 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 Capital Markets company?
The median Altman Z-Score among Capital Markets companies is 2.57, based on 658 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. Bursa Malaysia Bhd's current Altman Z-Score of 2.26 is 11.9% 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 Bursa Malaysia Bhd and its competitors. For the Capital Markets industry, the median Altman Z-Score is 2.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bursa Malaysia Bhd's current Altman Z-Score is 2.26, which is 18% below median its own 10-year median of 2.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bursa Malaysia Bhd stock overvalued right now?
Based on GuruFocus' analysis, Bursa Malaysia Bhd (BSMAF) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.42, compared to a current price of $2.18 — trading 53.5% above its estimated fair value. The current Altman Z-Score is 2.26, which is 18% below median its 10-year median of 2.74 and 11.9% below the Capital Markets industry median of 2.57. Bursa Malaysia Bhd's overall GF Score™ is 73/100 with 8 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 Bursa Malaysia Bhd (BSMAF), the current Altman Z-Score is 2.26 as of Jun. 27, 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 Bursa Malaysia Bhd (BSMAF) Overvalued in 2026?
Based on GuruFocus' analysis, Bursa Malaysia Bhd stock appears to be overvalued.
The current stock price of $2.18 is trading 53.5% above its estimated GF Value™ of $1.42.
GuruFocus considers Bursa Malaysia Bhd to be Significantly Overvalued.
Key valuation signals for BSMAF:
Altman Z-Score: 2.26 (18% below median its 10-year median of 2.74)
GF Value™: $1.42 vs. price of $2.18 (53.5% above fair value)
Industry Position: 11.9% below the Capital Markets median (#344 of 658)
No single metric tells the full story. See the BSMAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bursa Malaysia Bhd operates as an exchange holding company, whose principal activities are treasury management and the provision of management and administrative services to its subsidiaries. Through its subsidiaries it operates the Malaysian securities, derivatives, multi-environment product market, debt fundraising and offshore financial exchanges and the Shariah-compliant commodity and precious metals trading platform, to operate the related clearing houses, depository function and regulatory function, and to disseminate information relating to instruments quoted on the exchanges. Its six segments include: Securities Market, Derivatives Market, Islamic Market, Data Business, Exchange, Holding Company, and Others, of which Securities Market segment derives maximum revenue.
73GF Score
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