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 39.51 is strong.
FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII has a Altman Z-Score of 39.51, 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.
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.
FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII Altman Z-Score Chart
FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII Annual Data
Trend
Dec22
Dec23
Dec24
Dec25
Altman Z-Score
0.00
50.43
133.40
54.97
FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII Semi-Annual Data
Dec22
Dec23
Dec24
Dec25
Altman Z-Score
0.00
50.43
133.40
54.97
BSP:APXM11 vs SPG, O, KIM: Altman Z-Score Comparison
* 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.
FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII Altman Z-Score vs REITs Industry
FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII 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.
FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII (BSP:APXM11) has a Altman Z-Score of 39.51 as of Jun. 27, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII and its competitors. This is 28% below median its historical median of 54.97. Over the past decade, FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII's Altman Z-Score has ranged from 39.51 to 133.40. According to the industry distribution chart, FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII ranks #23 out of 739 companies in the REITs industry, placing it in the top 3.1%.
Is FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII's Altman Z-Score too high?
FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII's current Altman Z-Score of 39.51 is 28% below median its 10-year median of 54.97. Over the past 10 years, this metric has ranged from a low of 39.51 to a high of 133.40. The REITs industry median Altman Z-Score is 1.07. FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII's value of 39.51 is 3592.5% above this industry median. Based on the distribution chart, FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII ranks #23 out of 739 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII's Altman Z-Score compare to SPG and O?
According to the REITs industry distribution chart, FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII ranks #23 out of 739 companies for Altman Z-Score. This places FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII in the top 3% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 1.07. FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII's value of 39.51 is 3592.5% above this benchmark. Historically, FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII's own Altman Z-Score has ranged from 39.51 to 133.40 over the past decade. While the company's 10-year median is 54.97 vs. the industry median of 1.07, FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII 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 1.07, 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. FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII's current Altman Z-Score of 39.51 is 3592.5% 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 FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII and its competitors. For the REITs industry, the median Altman Z-Score is 1.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII's current Altman Z-Score is 39.51, which is 28% below median its own 10-year median of 54.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII stock overvalued right now?
FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII (BSP:APXM11) has a current Altman Z-Score of 39.51. The current Altman Z-Score is 39.51, which is 28% below median its 10-year median of 54.97 and 3592.5% above the REITs industry median of 1.07. FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII's overall GF Score™ is 14/100 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 FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII (BSP:APXM11), the current Altman Z-Score is 39.51 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.
FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII Business Description
FUNDO DE INVESTIMENTO IMOBILIARIO APEX MALLS FII was established as a condominium. The Fund's objective is to invest in real estate ventures, in completed properties, land, or properties under construction intended for exploitation of commercial activities, especially, but not limited to, shopping centers.
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