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 2.11 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.
Hsi Malls Fundo DE Investimento Imobiliario has a Altman Z-Score of 2.11, indicating it is in Grey Zones. This implies that Hsi Malls Fundo DE Investimento Imobiliario 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.
Hsi Malls Fundo DE Investimento Imobiliario (BSP:HSML11) 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.
Hsi Malls Fundo DE Investimento Imobiliario Altman Z-Score Chart
Hsi Malls Fundo DE Investimento Imobiliario Annual Data
BSP:HSML11 vs BLK, BX, KKR: Altman Z-Score Comparison
For the Asset Management subindustry, Hsi Malls Fundo DE Investimento Imobiliario'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.
Hsi Malls Fundo DE Investimento Imobiliario Altman Z-Score vs Asset Management Industry
Hsi Malls Fundo DE Investimento Imobiliario 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.
Hsi Malls Fundo DE Investimento Imobiliario (BSP:HSML11) has a Altman Z-Score of 2.11 as of Jun. 29, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Hsi Malls Fundo DE Investimento Imobiliario and its competitors. This is near median its historical median of 2.33. Over the past decade, Hsi Malls Fundo DE Investimento Imobiliario's Altman Z-Score has ranged from 1.07 to 111.79. According to the industry distribution chart, Hsi Malls Fundo DE Investimento Imobiliario ranks #403 out of 648 companies in the Asset Management industry, placing it in the top 62.2%.
Is Hsi Malls Fundo DE Investimento Imobiliario's Altman Z-Score too high?
Hsi Malls Fundo DE Investimento Imobiliario's current Altman Z-Score of 2.11 is near median its 10-year median of 2.33. Over the past 10 years, this metric has ranged from a low of 1.07 to a high of 111.79. The Asset Management industry median Altman Z-Score is 3.50. Hsi Malls Fundo DE Investimento Imobiliario's value of 2.11 is 39.6% below this industry median. Based on the distribution chart, Hsi Malls Fundo DE Investimento Imobiliario ranks #403 out of 648 companies in the Asset Management industry, which is below the industry midpoint. Overall, Hsi Malls Fundo DE Investimento Imobiliario has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hsi Malls Fundo DE Investimento Imobiliario's Altman Z-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Hsi Malls Fundo DE Investimento Imobiliario ranks #403 out of 648 companies for Altman Z-Score. This places Hsi Malls Fundo DE Investimento Imobiliario in the lower half of its industry. The industry median Altman Z-Score is 3.50. Hsi Malls Fundo DE Investimento Imobiliario's value of 2.11 is 39.6% below this benchmark. Historically, Hsi Malls Fundo DE Investimento Imobiliario's own Altman Z-Score has ranged from 1.07 to 111.79 over the past decade. While the company's 10-year median is 2.33 vs. the industry median of 3.50, Hsi Malls Fundo DE Investimento Imobiliario 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 an Asset Management company?
The median Altman Z-Score among Asset Management companies is 3.50, based on 648 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. Hsi Malls Fundo DE Investimento Imobiliario's current Altman Z-Score of 2.11 is 39.6% 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 Hsi Malls Fundo DE Investimento Imobiliario and its competitors. For the Asset Management industry, the median Altman Z-Score is 3.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hsi Malls Fundo DE Investimento Imobiliario's current Altman Z-Score is 2.11, which is near median its own 10-year median of 2.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hsi Malls Fundo DE Investimento Imobiliario stock overvalued right now?
Based on GuruFocus' analysis, Hsi Malls Fundo DE Investimento Imobiliario (BSP:HSML11) is currently considered Modestly Undervalued. The stock's GF Value™ is R$114.87, compared to a current price of R$85.52 — trading 25.6% below its estimated fair value. The current Altman Z-Score is 2.11, which is near median its 10-year median of 2.33 and 39.6% below the Asset Management industry median of 3.50. Hsi Malls Fundo DE Investimento Imobiliario's overall GF Score™ is 80/100 with 4 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 Hsi Malls Fundo DE Investimento Imobiliario (BSP:HSML11), the current Altman Z-Score is 2.11 as of Jun. 29, 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 Hsi Malls Fundo DE Investimento Imobiliario (BSP:HSML11) Overvalued in 2026?
Based on GuruFocus' analysis, Hsi Malls Fundo DE Investimento Imobiliario stock appears to be undervalued.
The current stock price of R$85.52 is trading 25.6% below its estimated GF Value™ of R$114.87.
GuruFocus considers Hsi Malls Fundo DE Investimento Imobiliario to be Modestly Undervalued.
Key valuation signals for BSP:HSML11:
Altman Z-Score: 2.11 (near median its 10-year median of 2.33)
GF Value™: R$114.87 vs. price of R$85.52 (25.6% below fair value)
Industry Position: 39.6% below the Asset Management median (#403 of 648)
No single metric tells the full story. See the BSP:HSML11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hsi Malls Fundo DE Investimento Imobiliario Business Description
Hsi Malls Fundo DE Investimento Imobiliario is a Brazil-based company engaged in real estate and credit business. Its real estate holdings include Cipasa Urbanismo, GoodStorage, Saphyr Shopping Centers, and office and logistics properties in Brazil.
80GF Score
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