SPAR GroupFRA:PMH -2.88%27 Altman Z-Score is 1.03 as of Jun. 30, 2026, which is 73% below its 10-year median of 3.76. GuruFocus rates FRA:PMH with a GF Score™ of 27/100 and a GF Value™ of €0.69 (Fairly Valued). The stock has 8 warning signs investors should review. Among 1,059 Business Services companies, SPAR Group ranks worse than 83.57% 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 1.02 is in distress zone. This implies bankruptcy possibility in the next two years.
SPAR Group has a Altman Z-Score of 1.03, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
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 SPAR Group's Altman Z-Score or its related term are showing as below:
FRA:PMH'
s Altman Z-Score Range Over the Past 10 Years
Min: 0.92 Med: 3.76 Max: 4.34
Current: 1.02
During the past 13 years, SPAR Group's highest Altman Z-Score was 4.34. The lowest was 0.92. And the median was 3.76.
SPAR Group (FRA:PMH) 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.
SPAR Group Altman Z-Score Related Terms
SPAR Group Altman Z-Score Historical Data
* Premium members only.
The historical data trend for SPAR Group'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:PMH vs KUBR, SFRX, SST: Altman Z-Score Comparison
For the Specialty Business Services subindustry, SPAR Group'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.
SPAR Group Altman Z-Score vs Business Services Industry
For the Business Services industry and Industrials sector, SPAR Group's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where SPAR Group'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.
SPAR Group'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
*
-0.1067
+
1.4
*
-0.3473
+
3.3
*
-0.3711
+
0.6
*
0.4721
+
1.0
*
2.5823
=
1.03
* 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.
SPAR Group (FRA:PMH) has a Altman Z-Score of 1.03 as of Jun. 30, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on SPAR Group and its competitors. This is 73% below median its historical median of 3.76. Over the past decade, SPAR Group's Altman Z-Score has ranged from 0.92 to 4.34. According to the industry distribution chart, SPAR Group ranks #885 out of 1059 companies in the Business Services industry, placing it in the top 83.6%.
Is SPAR Group's Altman Z-Score too high?
SPAR Group's current Altman Z-Score of 1.03 is 73% below median its 10-year median of 3.76. Over the past 10 years, this metric has ranged from a low of 0.92 to a high of 4.34. The Business Services industry median Altman Z-Score is 2.96. SPAR Group's value of 1.03 is 65.2% below this industry median. Based on the distribution chart, SPAR Group ranks #885 out of 1059 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, SPAR Group has a GF Score™ of 27/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does SPAR Group's Altman Z-Score compare to KUBR and SFRX?
According to the Business Services industry distribution chart, SPAR Group ranks #885 out of 1059 companies for Altman Z-Score. This places SPAR Group in the lower half of its industry. The industry median Altman Z-Score is 2.96. SPAR Group's value of 1.03 is 65.2% below this benchmark. Historically, SPAR Group's own Altman Z-Score has ranged from 0.92 to 4.34 over the past decade. While the company's 10-year median is 3.76 vs. the industry median of 2.96, SPAR Group 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 Business Services company?
The median Altman Z-Score among Business Services companies is 2.96, based on 1,059 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. SPAR Group's current Altman Z-Score of 1.03 is 65.2% 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 SPAR Group and its competitors. For the Business Services industry, the median Altman Z-Score is 2.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SPAR Group's current Altman Z-Score is 1.03, which is 73% below median its own 10-year median of 3.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SPAR Group stock overvalued right now?
Based on GuruFocus' analysis, SPAR Group (FRA:PMH) is currently considered Fairly Valued. The stock's GF Value™ is €0.69, compared to a current price of €0.68 — trading 2.2% below its estimated fair value. The current Altman Z-Score is 1.03, which is 73% below median its 10-year median of 3.76 and 65.2% below the Business Services industry median of 2.96. SPAR Group's overall GF Score™ is 27/100 with 8 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 SPAR Group (FRA:PMH), the current Altman Z-Score is 1.03 as of Jun. 30, 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 SPAR Group (FRA:PMH) Overvalued in 2026?
Based on GuruFocus' analysis, SPAR Group stock appears to be undervalued.
The current stock price of €0.68 is trading 2.2% below its estimated GF Value™ of €0.69.
GuruFocus considers SPAR Group to be Fairly Valued.
Key valuation signals for FRA:PMH:
Altman Z-Score: 1.03 (73% below median its 10-year median of 3.76)
GF Value™: €0.69 vs. price of €0.68 (2.2% below fair value)
Industry Position: 65.2% below the Business Services median (#885 of 1059)
No single metric tells the full story. See the FRA:PMH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SPAR Group Inc is a merchandising and brand marketing services company, providing a broad range of sales-enhancing services to retailers across classes of trade and consumer goods manufacturers and distributors. The company provides five principal types of services: Merchandising, Marketing and Category Management, Remodel and Retail Transformation, Assembly and Installation, Fulfilment and Distribution, and Business Analytics and Insights. It operates in two segments, namely the U.S. and Canada, with the majority of the revenues deriving from the U.S. segment.
27GF Score
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