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Sitoy Group HoldingsHKSE:01023 37 Altman Z-Score is 2.28 as of Aug. 16, 2026, which is 31% below its 10-year median of 3.30. GuruFocus rates HKSE:01023 with a GF Score™ of 37/100 and a GF Value™ of HK$0.52 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,031 Manufacturing - Apparel & Accessories companies, Sitoy Group Holdings ranks worse than 55.29% 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 2.28 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.
Sitoy Group Holdings has a Altman Z-Score of 2.28, indicating it is in Grey Zones. This implies that Sitoy Group Holdings 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 Sitoy Group Holdings's Altman Z-Score or its related term are showing as below:
HKSE:01023'
s Altman Z-Score Range Over the Past 10 Years
Min: 1.8 Med: 3.3 Max: 9.53
Current: 2.28
During the past 13 years, Sitoy Group Holdings's highest Altman Z-Score was 9.53. The lowest was 1.80. And the median was 3.30.
Sitoy Group Holdings (HKSE:01023) 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.
Sitoy Group Holdings Altman Z-Score Related Terms
Sitoy Group Holdings Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Sitoy Group 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.
HKSE:01023 vs NKE, DECK, ONON: Altman Z-Score Comparison
For the Footwear & Accessories subindustry, Sitoy Group 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.
Sitoy Group Holdings Altman Z-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Sitoy Group Holdings's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Sitoy Group 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.
Sitoy Group 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
*
0.3389
+
1.4
*
0.3337
+
3.3
*
-0.089
+
0.6
*
1.4381
+
1.0
*
0.8414
=
2.28
* 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.
Sitoy Group Holdings (HKSE:01023) has a Altman Z-Score of 2.28 as of Aug. 16, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Sitoy Group Holdings and its competitors. This is 31% below median its historical median of 3.30. Over the past decade, Sitoy Group Holdings' Altman Z-Score has ranged from 1.80 to 9.53. According to the industry distribution chart, Sitoy Group Holdings ranks #570 out of 1031 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 55.3%.
Is Sitoy Group Holdings' Altman Z-Score too high?
Sitoy Group Holdings' current Altman Z-Score of 2.28 is 31% below median its 10-year median of 3.30. Over the past 10 years, this metric has ranged from a low of 1.80 to a high of 9.53. The Manufacturing - Apparel & Accessories industry median Altman Z-Score is 2.53. Sitoy Group Holdings' value of 2.28 is 9.9% below this industry median. Based on the distribution chart, Sitoy Group Holdings ranks #570 out of 1031 companies in the Manufacturing - Apparel & Accessories industry, which is below the industry midpoint. Overall, Sitoy Group Holdings has a GF Score™ of 37/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Sitoy Group Holdings' Altman Z-Score compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Sitoy Group Holdings ranks #570 out of 1031 companies for Altman Z-Score. This places Sitoy Group Holdings in the lower half of its industry. The industry median Altman Z-Score is 2.53. Sitoy Group Holdings' value of 2.28 is 9.9% below this benchmark. Historically, Sitoy Group Holdings' own Altman Z-Score has ranged from 1.80 to 9.53 over the past decade. While the company's 10-year median is 3.30 vs. the industry median of 2.53, Sitoy Group 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 Manufacturing - Apparel & Accessories company?
The median Altman Z-Score among Manufacturing - Apparel & Accessories companies is 2.53, based on 1,031 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. Sitoy Group Holdings's current Altman Z-Score of 2.28 is 9.9% 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 Sitoy Group Holdings and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Altman Z-Score is 2.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sitoy Group Holdings's current Altman Z-Score is 2.28, which is 31% below median its own 10-year median of 3.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sitoy Group Holdings stock overvalued right now?
Based on GuruFocus' analysis, Sitoy Group Holdings (HKSE:01023) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$0.52, compared to a current price of HK$0.47 — trading 10.6% below its estimated fair value. The current Altman Z-Score is 2.28, which is 31% below median its 10-year median of 3.30 and 9.9% below the Manufacturing - Apparel & Accessories industry median of 2.53. Sitoy Group Holdings' overall GF Score™ is 37/100 with 4 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 Sitoy Group Holdings (HKSE:01023), the current Altman Z-Score is 2.28 as of Aug. 16, 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 Sitoy Group Holdings (HKSE:01023) Overvalued in 2026?
Based on GuruFocus' analysis, Sitoy Group Holdings stock appears to be undervalued.
The current stock price of HK$0.47 is trading 10.6% below its estimated GF Value™ of HK$0.52.
GuruFocus considers Sitoy Group Holdings to be Modestly Undervalued.
Key valuation signals for HKSE:01023:
Altman Z-Score: 2.28 (31% below median its 10-year median of 3.30)
GF Value™: HK$0.52 vs. price of HK$0.47 (10.6% below fair value)
Industry Position: 9.9% below the Manufacturing - Apparel & Accessories median (#570 of 1031)
No single metric tells the full story. See the HKSE:01023 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sitoy Group Holdings Ltd engages in the design, development, manufacture, retail, and wholesale of handbags, small leather goods, travel goods, and footwear, along with advertising, marketing services, and property investment. The Group owns TUSCAN'S, Fashion and Joy, and Duffy, offering bags, leather goods, shoes, clothing, and accessories. It operates through Retail, Manufacturing for resale, and Property Investment segments. Retail covers retail and wholesale of owned or licensed brands and marketing services, while Manufacturing produces handbags, small leather goods, and travel goods for resale by others. Property Investment focuses on office spaces for rental income or capital appreciation, with revenue mainly generated in the Chinese Mainland, Hong Kong, Macau, and other regions.
37GF Score
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