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.
Tokyu Construction CoFRA:TCW 72 Altman Z-Score is 2.57 as of Aug. 18, 2026, which is 13% above its 10-year median of 2.28. GuruFocus rates FRA:TCW with a GF Score™ of 72/100 and a GF Value™ of €5.10. The stock has 1 warning sign investors should review. Among 1,762 Construction companies, Tokyu Construction Co ranks worse than 50.34% 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 2.29 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.
Tokyu Construction Co has a Altman Z-Score of 2.57, indicating it is in Grey Zones. This implies that Tokyu Construction Co 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 Tokyu Construction Co's Altman Z-Score or its related term are showing as below:
FRA:TCW'
s Altman Z-Score Range Over the Past 10 Years
Min: 2.01 Med: 2.28 Max: 2.62
Current: 2.29
During the past 13 years, Tokyu Construction Co's highest Altman Z-Score was 2.62. The lowest was 2.01. And the median was 2.28.
Tokyu Construction Co (FRA:TCW) 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.
Tokyu Construction Co Altman Z-Score Related Terms
Tokyu Construction Co Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Tokyu Construction Co'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:TCW vs PWR, FIX, EME: Altman Z-Score Comparison
For the Engineering & Construction subindustry, Tokyu Construction Co'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.
Tokyu Construction Co Altman Z-Score vs Construction Industry
For the Construction industry and Industrials sector, Tokyu Construction Co's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Tokyu Construction Co'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.
* 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.
Tokyu Construction Co (FRA:TCW) has a Altman Z-Score of 2.57 as of Aug. 18, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Tokyu Construction Co and its competitors. This is 13% above median its historical median of 2.28. Over the past decade, Tokyu Construction Co's Altman Z-Score has ranged from 2.01 to 2.62. According to the industry distribution chart, Tokyu Construction Co ranks #887 out of 1762 companies in the Construction industry, placing it in the top 50.3%.
Is Tokyu Construction Co's Altman Z-Score too high?
Tokyu Construction Co's current Altman Z-Score of 2.57 is 13% above median its 10-year median of 2.28. Over the past 10 years, this metric has ranged from a low of 2.01 to a high of 2.62. The Construction industry median Altman Z-Score is 2.31. Tokyu Construction Co's value of 2.57 is 11.5% above this industry median. Based on the distribution chart, Tokyu Construction Co ranks #887 out of 1762 companies in the Construction industry, which is below the industry midpoint. Overall, Tokyu Construction Co has a GF Score™ of 72/100, reflecting its overall financial health beyond just this single metric.
How does Tokyu Construction Co's Altman Z-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Tokyu Construction Co ranks #887 out of 1762 companies for Altman Z-Score. This places Tokyu Construction Co in the lower half of its industry. The industry median Altman Z-Score is 2.31. Tokyu Construction Co's value of 2.57 is 11.5% above this benchmark. Historically, Tokyu Construction Co's own Altman Z-Score has ranged from 2.01 to 2.62 over the past decade. While the company's 10-year median is 2.28 vs. the industry median of 2.31, Tokyu Construction Co 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 Construction company?
The median Altman Z-Score among Construction companies is 2.31, based on 1,762 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. Tokyu Construction Co's current Altman Z-Score of 2.57 is 11.5% 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 Tokyu Construction Co and its competitors. For the Construction industry, the median Altman Z-Score is 2.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tokyu Construction Co's current Altman Z-Score is 2.57, which is 13% above median its own 10-year median of 2.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tokyu Construction Co stock overvalued right now?
Tokyu Construction Co (FRA:TCW) has a current Altman Z-Score of 2.57. The stock's GF Value™ is €5.10, compared to a current price of €6.10 — trading 19.6% above its estimated fair value. The current Altman Z-Score is 2.57, which is 13% above median its 10-year median of 2.28 and 11.5% above the Construction industry median of 2.31. Tokyu Construction Co's overall GF Score™ is 72/100 with 1 warning sign 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 Tokyu Construction Co (FRA:TCW), the current Altman Z-Score is 2.57 as of Aug. 18, 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 Tokyu Construction Co (FRA:TCW) Overvalued in 2026?
Based on GuruFocus' analysis, Tokyu Construction Co stock appears to be overvalued.
The current stock price of €6.10 is trading 19.6% above its estimated GF Value™ of €5.10.
Key valuation signals for FRA:TCW:
Altman Z-Score: 2.57 (13% above median its 10-year median of 2.28)
GF Value™: €5.10 vs. price of €6.10 (19.6% above fair value)
Industry Position: 11.5% above the Construction median (#887 of 1762)
No single metric tells the full story. See the FRA:TCW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tokyu Construction Co Ltd is a Japan-based company that provides various construction-related services. The company's services include civil engineering and building construction, investigation, construction planning, geological surveying, consultancy services, measurement, designing, building maintenance and supervision, real estate leasing, and worker dispatching. Its construction activities encompass educational facilities, offices, hotels, commercial facilities, environmental improvement facilities, care facilities, hospitals, logistics facilities, factories, roads, sports facilities, airports, and so on.
72GF Score
Get the complete analysis for FRA:TCW
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:TCW has been successfully added to your 
