Thor Medical ASAFRA:8NN +0.14%26 Altman Z-Score is 3.64 as of Jul. 03, 2026, which is 78% below its 10-year median of 16.69. GuruFocus rates FRA:8NN with a GF Score™ of 26/100. The stock has 2 warning signs investors should review. Among 929 Biotechnology companies, Thor Medical ASA ranks better than 54.68% 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.
Good Sign:
Altman Z-score of 3.37 is strong.
Thor Medical ASA has a Altman Z-Score of 3.64, 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.
The historical rank and industry rank for Thor Medical ASA's Altman Z-Score or its related term are showing as below:
FRA:8NN'
s Altman Z-Score Range Over the Past 10 Years
Min: 3.37 Med: 16.69 Max: 29.44
Current: 3.37
During the past 13 years, Thor Medical ASA's highest Altman Z-Score was 29.44. The lowest was 3.37. And the median was 16.69.
Thor Medical ASA (FRA:8NN) 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.
Altman Z-Score does not apply to financial companies.
Thor Medical ASA Altman Z-Score Related Terms
Thor Medical ASA Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Thor Medical ASA'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:8NN vs VRTX, REGN, ALNY: Altman Z-Score Comparison
For the Biotechnology subindustry, Thor Medical ASA'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.
Thor Medical ASA Altman Z-Score vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Thor Medical ASA's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Thor Medical ASA'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.
Thor Medical ASA'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
*
0.2199
+
1.4
*
-0.1708
+
3.3
*
-0.087
+
0.6
*
6.4956
+
1.0
*
0.0006
=
3.64
* 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.
Thor Medical ASA (FRA:8NN) has a Altman Z-Score of 3.64 as of Jul. 03, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Thor Medical ASA and its competitors. This is 78% below median its historical median of 16.69. Over the past decade, Thor Medical ASA's Altman Z-Score has ranged from 3.37 to 29.44. According to the industry distribution chart, Thor Medical ASA ranks #421 out of 929 companies in the Biotechnology industry, placing it in the top 45.3%.
Is Thor Medical ASA's Altman Z-Score too high?
Thor Medical ASA's current Altman Z-Score of 3.64 is 78% below median its 10-year median of 16.69. Over the past 10 years, this metric has ranged from a low of 3.37 to a high of 29.44. The Biotechnology industry median Altman Z-Score is 2.61. Thor Medical ASA's value of 3.64 is 39.5% above this industry median. Based on the distribution chart, Thor Medical ASA ranks #421 out of 929 companies in the Biotechnology industry, which is above the industry midpoint. Overall, Thor Medical ASA has a GF Score™ of 26/100, reflecting its overall financial health beyond just this single metric.
How does Thor Medical ASA's Altman Z-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Thor Medical ASA ranks #421 out of 929 companies for Altman Z-Score. This puts Thor Medical ASA in the upper half of its industry. The industry median Altman Z-Score is 2.61. Thor Medical ASA's value of 3.64 is 39.5% above this benchmark. Historically, Thor Medical ASA's own Altman Z-Score has ranged from 3.37 to 29.44 over the past decade. While the company's 10-year median is 16.69 vs. the industry median of 2.61, Thor Medical ASA 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 Biotechnology company?
The median Altman Z-Score among Biotechnology companies is 2.61, based on 929 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. Thor Medical ASA's current Altman Z-Score of 3.64 is 39.5% 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 Thor Medical ASA and its competitors. For the Biotechnology industry, the median Altman Z-Score is 2.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thor Medical ASA's current Altman Z-Score is 3.64, which is 78% below median its own 10-year median of 16.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thor Medical ASA stock overvalued right now?
Thor Medical ASA (FRA:8NN) has a current Altman Z-Score of 3.64. The current Altman Z-Score is 3.64, which is 78% below median its 10-year median of 16.69 and 39.5% above the Biotechnology industry median of 2.61. Thor Medical ASA's overall GF Score™ is 26/100 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 Thor Medical ASA (FRA:8NN), the current Altman Z-Score is 3.64 as of Jul. 03, 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.
Thor Medical ASA is a Norway-based biopharmaceutical company. The company is a producer and supplier of alpha-particle emitters for cancer therapy. The production process is based on separation of natural occurring radioactive decay products from thorium. The Company is utilizing alpha-emitters in radiotherapy and cancer treatments using Pb-212, which can be produced from naturally occurring isotope Thorium-232 and Lead-212. It uses a proprietary production process that does not involve irradiation or nuclear reactors to produce alpha-emitting materials. These materials are used by radiopharmaceutical companies in the development of cancer therapies.
26GF Score
Get the complete analysis for FRA:8NN
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:8NN has been successfully added to your 
