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.
Tern Properties CoHKSE:00277 69 Altman Z-Score is 3.26 as of Aug. 30, 2026, which is 7% below its 10-year median of 3.49. GuruFocus rates HKSE:00277 with a GF Score™ of 69/100 and a GF Value™ of HK$1.72 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,725 Real Estate companies, Tern Properties Co ranks better than 84.12% 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 3.26 is strong.
Tern Properties Co has a Altman Z-Score of 3.26, 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 Tern Properties Co's Altman Z-Score or its related term are showing as below:
HKSE:00277'
s Altman Z-Score Range Over the Past 10 Years
Min: 1.52 Med: 3.49 Max: 7.09
Current: 3.26
During the past 13 years, Tern Properties Co's highest Altman Z-Score was 7.09. The lowest was 1.52. And the median was 3.49.
Tern Properties Co (HKSE:00277) 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.
Tern Properties Co Altman Z-Score Related Terms
Tern Properties Co Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Tern Properties 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.
HKSE:00277 vs CBRE, BEKE, JLL: Altman Z-Score Comparison
For the Real Estate Services subindustry, Tern Properties 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.
Tern Properties Co Altman Z-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Tern Properties Co's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Tern Properties 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.
Tern Properties Co'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
*
0.1555
+
1.4
*
0.9153
+
3.3
*
-0.0099
+
0.6
*
3.0183
+
1.0
*
0.0185
=
3.26
* 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.
Tern Properties Co (HKSE:00277) has a Altman Z-Score of 3.26 as of Aug. 30, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Tern Properties Co and its competitors. This is near median its historical median of 3.49. Over the past decade, Tern Properties Co's Altman Z-Score has ranged from 1.52 to 7.09. According to the industry distribution chart, Tern Properties Co ranks #274 out of 1725 companies in the Real Estate industry, placing it in the top 15.9%.
Is Tern Properties Co's Altman Z-Score too high?
Tern Properties Co's current Altman Z-Score of 3.26 is near median its 10-year median of 3.49. Over the past 10 years, this metric has ranged from a low of 1.52 to a high of 7.09. The Real Estate industry median Altman Z-Score is 1.30. Tern Properties Co's value of 3.26 is 150.8% above this industry median. Based on the distribution chart, Tern Properties Co ranks #274 out of 1725 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers. Overall, Tern Properties Co has a GF Score™ of 69/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tern Properties Co's Altman Z-Score compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Tern Properties Co ranks #274 out of 1725 companies for Altman Z-Score. This places Tern Properties Co in the top 16% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 1.30. Tern Properties Co's value of 3.26 is 150.8% above this benchmark. Historically, Tern Properties Co's own Altman Z-Score has ranged from 1.52 to 7.09 over the past decade. While the company's 10-year median is 3.49 vs. the industry median of 1.30, Tern Properties 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 Real Estate company?
The median Altman Z-Score among Real Estate companies is 1.30, based on 1,725 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. Tern Properties Co's current Altman Z-Score of 3.26 is 150.8% 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 Tern Properties Co and its competitors. For the Real Estate industry, the median Altman Z-Score is 1.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tern Properties Co's current Altman Z-Score is 3.26, which is near median its own 10-year median of 3.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tern Properties Co stock overvalued right now?
Based on GuruFocus' analysis, Tern Properties Co (HKSE:00277) is currently considered Significantly Undervalued. The stock's GF Value™ is HK$1.72, compared to a current price of HK$1.14 — trading 34% below its estimated fair value. The current Altman Z-Score is 3.26, which is near median its 10-year median of 3.49 and 150.8% above the Real Estate industry median of 1.30. Tern Properties Co's overall GF Score™ is 69/100 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 Tern Properties Co (HKSE:00277), the current Altman Z-Score is 3.26 as of Aug. 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 Tern Properties Co (HKSE:00277) Overvalued in 2026?
Based on GuruFocus' analysis, Tern Properties Co stock appears to be undervalued.
The current stock price of HK$1.14 is trading 34% below its estimated GF Value™ of HK$1.72.
GuruFocus considers Tern Properties Co to be Significantly Undervalued.
Key valuation signals for HKSE:00277:
Altman Z-Score: 3.26 (near median its 10-year median of 3.49)
GF Value™: HK$1.72 vs. price of HK$1.14 (34% below fair value)
Industry Position: 150.8% above the Real Estate median (#274 of 1725)
No single metric tells the full story. See the HKSE:00277 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tern Properties Co Ltd is a Hong Kong-based company involved in the Property investment business where the company buys, sells, and leases properties as well as in the Treasury investment business where the company is engaged in investing in debt and equity securities. Geographically, the group principally operates in Hong Kong. The company generates key income from the Property investment business.
69GF Score
Get the complete analysis for HKSE:00277
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
HKSE:00277 has been successfully added to your 
