Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Gold RoyaltyFRA:6LS0 -3.10%50 Altman Z-Score is 2.87 as of Jul. 29, 2026, which is 159% above its 10-year median of 1.11. GuruFocus rates FRA:6LS0 with a GF Score™ of 50/100 and a GF Value™ of €5.07 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 782 Metals & Mining companies, Gold Royalty ranks worse than 56.39% 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 2.82 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.
Gold Royalty has a Altman Z-Score of 2.87, indicating it is in Grey Zones. This implies that Gold Royalty 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 Gold Royalty's Altman Z-Score or its related term are showing as below:
FRA:6LS0'
s Altman Z-Score Range Over the Past 10 Years
Min: 0.47 Med: 1.11 Max: 4.33
Current: 2.82
During the past 6 years, Gold Royalty's highest Altman Z-Score was 4.33. The lowest was 0.47. And the median was 1.11.
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.
Gold Royalty Altman Z-Score Related Terms
Gold Royalty Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Gold Royalty'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.
FRA:6LS0 vs DC, CTGO, IDR: Altman Z-Score Comparison
For the Gold subindustry, Gold Royalty'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.
Gold Royalty Altman Z-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Gold Royalty's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Gold Royalty'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.
Gold Royalty'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
*
0.0229
+
1.4
*
-0.0893
+
3.3
*
0.0067
+
0.6
*
4.868
+
1.0
*
0.0231
=
2.87
* 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.
Gold Royalty (FRA:6LS0) has a Altman Z-Score of 2.87 as of Jul. 29, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Gold Royalty and its competitors. This is 159% above median its historical median of 1.11. Over the past decade, Gold Royalty's Altman Z-Score has ranged from 0.47 to 4.33. According to the industry distribution chart, Gold Royalty ranks #441 out of 782 companies in the Metals & Mining industry, placing it in the top 56.4%.
Is Gold Royalty's Altman Z-Score too high?
Gold Royalty's current Altman Z-Score of 2.87 is 159% above median its 10-year median of 1.11. Over the past 10 years, this metric has ranged from a low of 0.47 to a high of 4.33. The Metals & Mining industry median Altman Z-Score is 3.19. Gold Royalty's value of 2.87 is 10% below this industry median. Based on the distribution chart, Gold Royalty ranks #441 out of 782 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Gold Royalty has a GF Score™ of 50/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Gold Royalty's Altman Z-Score compare to DC and CTGO?
According to the Metals & Mining industry distribution chart, Gold Royalty ranks #441 out of 782 companies for Altman Z-Score. This places Gold Royalty in the lower half of its industry. The industry median Altman Z-Score is 3.19. Gold Royalty's value of 2.87 is 10% below this benchmark. Historically, Gold Royalty's own Altman Z-Score has ranged from 0.47 to 4.33 over the past decade. While the company's 10-year median is 1.11 vs. the industry median of 3.19, Gold Royalty 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 Metals & Mining company?
The median Altman Z-Score among Metals & Mining companies is 3.19, based on 782 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. Gold Royalty's current Altman Z-Score of 2.87 is 10% 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 Gold Royalty and its competitors. For the Metals & Mining industry, the median Altman Z-Score is 3.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Gold Royalty's current Altman Z-Score is 2.87, which is 159% above median its own 10-year median of 1.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Gold Royalty stock overvalued right now?
Based on GuruFocus' analysis, Gold Royalty (FRA:6LS0) is currently considered Possible Value Trap. The stock's GF Value™ is €5.07, compared to a current price of €2.25 — trading 55.5% below its estimated fair value. The current Altman Z-Score is 2.87, which is 159% above median its 10-year median of 1.11 and 10% below the Metals & Mining industry median of 3.19. Gold Royalty's overall GF Score™ is 50/100 with 3 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 Gold Royalty (FRA:6LS0), the current Altman Z-Score is 2.87 as of Jul. 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 Gold Royalty (FRA:6LS0) Overvalued in 2026?
Based on GuruFocus' analysis, Gold Royalty stock appears to be undervalued.
The current stock price of €2.25 is trading 55.5% below its estimated GF Value™ of €5.07.
GuruFocus considers Gold Royalty to be Possible Value Trap.
Key valuation signals for FRA:6LS0:
Altman Z-Score: 2.87 (159% above median its 10-year median of 1.11)
GF Value™: €5.07 vs. price of €2.25 (55.5% below fair value)
Industry Position: 10% below the Metals & Mining median (#441 of 782)
No single metric tells the full story. See the FRA:6LS0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Gold Royalty Corp is principally engaged in acquiring gold-focused royalties, streaming, and similar interests. It is a gold-focused royalty company offering creative financing solutions to the metals and mining industry. The Company operates in Bosnia and Herzegovina, Canada, which generates maximum revenue, the USA, Brazil, and Mexico.
50GF Score
Get the complete analysis for FRA:6LS0
Altman Z-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:6LS0 has been successfully added to your 
