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 103.6 is strong.
Fundo Investimento Imobiliario SC 401 has a Altman Z-Score of 108.76, 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.
BSP:FISC11 vs VICI, WPC: Altman Z-Score Comparison
For the REIT - Diversified subindustry, Fundo Investimento Imobiliario SC 401'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.
Fundo Investimento Imobiliario SC 401 Altman Z-Score vs REITs Industry
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 Investimento Imobiliario SC 401 (BSP:FISC11) has a Altman Z-Score of 108.76 as of Jun. 24, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Fundo Investimento Imobiliario SC 401 and its competitors. This is 172% above median its historical median of 39.92. Over the past decade, Fundo Investimento Imobiliario SC 401's Altman Z-Score has ranged from 5.56 to 119.93. According to the industry distribution chart, Fundo Investimento Imobiliario SC 401 ranks #10 out of 740 companies in the REITs industry, placing it in the top 1.4%.
Is Fundo Investimento Imobiliario SC 401's Altman Z-Score too high?
Fundo Investimento Imobiliario SC 401's current Altman Z-Score of 108.76 is 172% above median its 10-year median of 39.92. Over the past 10 years, this metric has ranged from a low of 5.56 to a high of 119.93. The REITs industry median Altman Z-Score is 1.07. Fundo Investimento Imobiliario SC 401's value of 108.76 is 10112.2% above this industry median. Based on the distribution chart, Fundo Investimento Imobiliario SC 401 ranks #10 out of 740 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Fundo Investimento Imobiliario SC 401 has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fundo Investimento Imobiliario SC 401's Altman Z-Score compare to VICI and WPC?
According to the REITs industry distribution chart, Fundo Investimento Imobiliario SC 401 ranks #10 out of 740 companies for Altman Z-Score. This places Fundo Investimento Imobiliario SC 401 in the top 1% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 1.07. Fundo Investimento Imobiliario SC 401's value of 108.76 is 10112.2% above this benchmark. Historically, Fundo Investimento Imobiliario SC 401's own Altman Z-Score has ranged from 5.56 to 119.93 over the past decade. While the company's 10-year median is 39.92 vs. the industry median of 1.07, Fundo Investimento Imobiliario SC 401 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 740 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 Investimento Imobiliario SC 401's current Altman Z-Score of 108.76 is 10112.2% 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 Investimento Imobiliario SC 401 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 Investimento Imobiliario SC 401's current Altman Z-Score is 108.76, which is 172% above median its own 10-year median of 39.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fundo Investimento Imobiliario SC 401 stock overvalued right now?
Based on GuruFocus' analysis, Fundo Investimento Imobiliario SC 401 (BSP:FISC11) is currently considered Modestly Undervalued. The stock's GF Value™ is R$95.51, compared to a current price of R$68.25 — trading 28.5% below its estimated fair value. The current Altman Z-Score is 108.76, which is 172% above median its 10-year median of 39.92 and 10112.2% above the REITs industry median of 1.07. Fundo Investimento Imobiliario SC 401's overall GF Score™ is 71/100 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 Investimento Imobiliario SC 401 (BSP:FISC11), the current Altman Z-Score is 108.76 as of Jun. 24, 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 Fundo Investimento Imobiliario SC 401 (BSP:FISC11) Overvalued in 2026?
Based on GuruFocus' analysis, Fundo Investimento Imobiliario SC 401 stock appears to be undervalued.
The current stock price of R$68.25 is trading 28.5% below its estimated GF Value™ of R$95.51.
GuruFocus considers Fundo Investimento Imobiliario SC 401 to be Modestly Undervalued.
Key valuation signals for BSP:FISC11:
Altman Z-Score: 108.76 (172% above median its 10-year median of 39.92)
GF Value™: R$95.51 vs. price of R$68.25 (28.5% below fair value)
Industry Position: 10112.2% above the REITs median (#10 of 740)
No single metric tells the full story. See the BSP:FISC11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fundo Investimento Imobiliario SC 401 Business Description
Fundo Investimento Imobiliario SC 401 is a structured fund operated by UNITS BR-CAPITAL. The fund owns stores and office complexes for the lease of Square SC, a multipurpose development located in Florianopolis/SC, and Mall W Tower, a mall located in Caxias do Sul/RS. The fund owns stores and corporate offices in Square SC, in addition to owning the rotating parking lot and owns stores in the Mall W Tower and the rotating parking in the Mall.
71GF Score
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