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.
Meridian HoldingsFRA:SE0 +3.07%74 Altman Z-Score is 0.37 as of Aug. 15, 2026, which is 85% below its 10-year median of 2.51. GuruFocus rates FRA:SE0 with a GF Score™ of 74/100 and a GF Value™ of €20.06. The stock has 8 warning signs investors should review. Among 836 Travel & Leisure companies, Meridian Holdings ranks worse than 86.72% 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 0.35 is in distress zone. This implies bankruptcy possibility in the next two years.
Meridian Holdings has a Altman Z-Score of 0.37, 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 Meridian Holdings's Altman Z-Score or its related term are showing as below:
FRA:SE0'
s Altman Z-Score Range Over the Past 10 Years
Min: -5246.16 Med: 2.51 Max: 335.84
Current: 0.35
During the past 13 years, Meridian Holdings's highest Altman Z-Score was 335.84. The lowest was -5246.16. And the median was 2.51.
Meridian Holdings (FRA:SE0) 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.
Meridian Holdings Altman Z-Score Related Terms
Meridian Holdings Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Meridian Holdings'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:SE0 vs INSE, ROLR, GRSD: Altman Z-Score Comparison
For the Gambling subindustry, Meridian Holdings'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.
Meridian Holdings Altman Z-Score vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Meridian Holdings's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Meridian Holdings'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.
Meridian Holdings'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
*
-0.2164
+
1.4
*
-0.2494
+
3.3
*
-0.731
+
0.6
*
2.8291
+
1.0
*
1.6968
=
0.37
* 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.
Meridian Holdings (FRA:SE0) has a Altman Z-Score of 0.37 as of Aug. 15, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Meridian Holdings and its competitors. This is 85% below median its historical median of 2.51. According to the industry distribution chart, Meridian Holdings ranks #725 out of 836 companies in the Travel & Leisure industry, placing it in the top 86.7%.
Is Meridian Holdings' Altman Z-Score too high?
Meridian Holdings' current Altman Z-Score of 0.37 is 85% below median its 10-year median of 2.51. The Travel & Leisure industry median Altman Z-Score is 1.97. Meridian Holdings' value of 0.37 is 81.2% below this industry median. Based on the distribution chart, Meridian Holdings ranks #725 out of 836 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Meridian Holdings has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Meridian Holdings' Altman Z-Score compare to INSE and ROLR?
According to the Travel & Leisure industry distribution chart, Meridian Holdings ranks #725 out of 836 companies for Altman Z-Score. This places Meridian Holdings in the lower half of its industry. The industry median Altman Z-Score is 1.97. Meridian Holdings' value of 0.37 is 81.2% below this benchmark. While the company's 10-year median is 2.51 vs. the industry median of 1.97, Meridian Holdings 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 Travel & Leisure company?
The median Altman Z-Score among Travel & Leisure companies is 1.97, based on 836 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. Meridian Holdings's current Altman Z-Score of 0.37 is 81.2% 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 Meridian Holdings and its competitors. For the Travel & Leisure industry, the median Altman Z-Score is 1.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Meridian Holdings's current Altman Z-Score is 0.37, which is 85% below median its own 10-year median of 2.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Meridian Holdings stock overvalued right now?
Meridian Holdings (FRA:SE0) has a current Altman Z-Score of 0.37. The stock's GF Value™ is €20.06, compared to a current price of €11.42 — trading 43.1% below its estimated fair value. The current Altman Z-Score is 0.37, which is 85% below median its 10-year median of 2.51 and 81.2% below the Travel & Leisure industry median of 1.97. Meridian Holdings' overall GF Score™ is 74/100 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 Meridian Holdings (FRA:SE0), the current Altman Z-Score is 0.37 as of Aug. 15, 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 Meridian Holdings (FRA:SE0) Overvalued in 2026?
Based on GuruFocus' analysis, Meridian Holdings stock appears to be undervalued.
The current stock price of €11.42 is trading 43.1% below its estimated GF Value™ of €20.06.
Key valuation signals for FRA:SE0:
Altman Z-Score: 0.37 (85% below median its 10-year median of 2.51)
GF Value™: €20.06 vs. price of €11.42 (43.1% below fair value)
Industry Position: 81.2% below the Travel & Leisure median (#725 of 836)
No single metric tells the full story. See the FRA:SE0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Meridian Holdings Inc is engaged in the online gaming and betting business, providing sports betting, online casino, and gaming operations across multiple jurisdictions in Europe, Africa, and Central and South America. The company has three reportable segments: MeridianBet Group, GMAG, and RKings & CFAC. The MeridianBet Group segment includes retail and online sports betting, casinos, and related gaming operations. The GMAG segment focuses on the resale of third-party gaming content, mainly serving customers in the Asia-Pacific region. The RKings & CFAC segment is involved in pay-to-enter prize competitions and trade promotions conducted in the United Kingdom and Australia. It generates the majority of its revenue from the MeridianBet Group segment.
74GF Score
Get the complete analysis for FRA:SE0
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:SE0 has been successfully added to your 
