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Fuller Smith & Turner (CHIX:FSTAL) Altman Z-Score : 2.06 (As of Dec. 12, 2024)


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What is Fuller Smith & Turner Altman Z-Score?

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 2.08 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.

Fuller Smith & Turner has a Altman Z-Score of 2.06, indicating it is in Grey Zones. This implies that Fuller Smith & Turner 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 Fuller Smith & Turner's Altman Z-Score or its related term are showing as below:

CHIX:FSTAl' s Altman Z-Score Range Over the Past 10 Years
Min: 1.02   Med: 2.13   Max: 2.64
Current: 2.08

During the past 13 years, Fuller Smith & Turner's highest Altman Z-Score was 2.64. The lowest was 1.02. And the median was 2.13.


Fuller Smith & Turner Altman Z-Score Historical Data

The historical data trend for Fuller Smith & Turner'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.

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Fuller Smith & Turner Altman Z-Score Chart

Fuller Smith & Turner Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Altman Z-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.52 1.02 1.67 1.83 2.03

Fuller Smith & Turner Semi-Annual Data
Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24
Altman Z-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 1.83 - 2.03 -

Competitive Comparison of Fuller Smith & Turner's Altman Z-Score

For the Restaurants subindustry, Fuller Smith & Turner'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.


Fuller Smith & Turner's Altman Z-Score Distribution in the Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Fuller Smith & Turner's Altman Z-Score distribution charts can be found below:

* The bar in red indicates where Fuller Smith & Turner's Altman Z-Score falls into.



Fuller Smith & Turner 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.

Fuller Smith & Turner'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*-0.044+1.4*0.5285+3.3*0.0397+0.6*1.2443+1.0*0.497
=2.06

* 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.

Trailing Twelve Months (TTM) ended in Mar. 2024:
Total Assets was £722.6 Mil.
Total Current Assets was £33.1 Mil.
Total Current Liabilities was £64.9 Mil.
Retained Earnings was £381.9 Mil.
Pre-Tax Income was £14.4 Mil.
Interest Expense was £-14.3 Mil.
Revenue was £359.1 Mil.
Market Cap (Today) was £362.5 Mil.
Total Liabilities was £291.3 Mil.

* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.

X1=Working Capital/Total Assets
=(Total Current Assets - Total Current Liabilities)/Total Assets
=(33.1 - 64.9)/722.6
=-0.044

X2=Retained Earnings/Total Assets
=381.9/722.6
=0.5285

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(14.4 - -14.3)/722.6
=0.0397

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=362.457/291.3
=1.2443

X5=Revenue/Total Assets
=359.1/722.6
=0.497

The zones of discrimination were as such:

Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones

Fuller Smith & Turner has a Altman Z-Score of 2.06 indicating it is in Grey Zones.

Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.


Fuller Smith & Turner  (CHIX:FSTAl) 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.

Read more about Altman Z-Score and the original research.


Be Aware

Altman Z-Score does not apply to financial companies.


Fuller Smith & Turner Altman Z-Score Related Terms

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Fuller Smith & Turner Business Description

Traded in Other Exchanges
Address
86-93 Strand-on-the-Green, Pier House, London, GBR, W4 3NN
Fuller Smith & Turner PLC is a family-owned operator of pubs and hotels in the United Kingdom. The company functions through two segments: Managed Pubs and Hotels and Tenanted Inns. Managed Pubs and Hotels, which comprises managed pubs, managed hotels, Bel & The Dragon, and Cotswold Inns & Hotels. Tenanted Inns, comprises pubs operated by third parties under tenancy or lease agreements. Managed Pubs and Hotels segment generates majority of the revenue for the company. All of the Group's business is within the UK.

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