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China Aircraft Leasing Group Holdings (HKSE:01848) Altman Z-Score : 0.51 (As of Dec. 15, 2024)


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What is China Aircraft Leasing Group Holdings Altman Z-Score?

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 0.51 is in distress zone. This implies bankruptcy possibility in the next two years.

China Aircraft Leasing Group Holdings has a Altman Z-Score of 0.51, 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 China Aircraft Leasing Group Holdings's Altman Z-Score or its related term are showing as below:

HKSE:01848' s Altman Z-Score Range Over the Past 10 Years
Min: 0.51   Med: 0.79   Max: 1.32
Current: 0.51

During the past 11 years, China Aircraft Leasing Group Holdings's highest Altman Z-Score was 1.32. The lowest was 0.51. And the median was 0.79.


China Aircraft Leasing Group Holdings Altman Z-Score Historical Data

The historical data trend for China Aircraft Leasing 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.

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China Aircraft Leasing Group Holdings Altman Z-Score Chart

China Aircraft Leasing Group Holdings Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Altman Z-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.76 0.66 0.67 0.62 0.51

China Aircraft Leasing Group Holdings Semi-Annual Data
Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
Altman Z-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 0.62 - 0.51 -

Competitive Comparison of China Aircraft Leasing Group Holdings's Altman Z-Score

For the Rental & Leasing Services subindustry, China Aircraft Leasing 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.


China Aircraft Leasing Group Holdings's Altman Z-Score Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, China Aircraft Leasing Group Holdings's Altman Z-Score distribution charts can be found below:

* The bar in red indicates where China Aircraft Leasing Group Holdings's Altman Z-Score falls into.



China Aircraft Leasing Group Holdings Altman Z-Score Calculation

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.

China Aircraft Leasing 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*0.2742+1.4*0.0348+3.3*0.0086+0.6*0.0459+1.0*0.0723
=0.51

* 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.

Trailing Twelve Months (TTM) ended in Dec. 2023:
Total Assets was HK$59,825 Mil.
Total Current Assets was HK$17,250 Mil.
Total Current Liabilities was HK$845 Mil.
Retained Earnings was HK$2,082 Mil.
Pre-Tax Income was HK$514 Mil.
Interest Expense was HK$0 Mil.
Revenue was HK$4,324 Mil.
Market Cap (Today) was HK$2,509 Mil.
Total Liabilities was HK$54,685 Mil.

* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.

X1=Working Capital/Total Assets
=(Total Current Assets - Total Current Liabilities)/Total Assets
=(17250.422 - 845.248)/59824.727
=0.2742

X2=Retained Earnings/Total Assets
=2081.56/59824.727
=0.0348

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(513.735 - 0)/59824.727
=0.0086

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=2509.466/54684.765
=0.0459

X5=Revenue/Total Assets
=4323.704/59824.727
=0.0723

The zones of discrimination were as such:

Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones

China Aircraft Leasing Group Holdings has a Altman Z-Score of 0.51 indicating it is in Distress Zones.

Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.


China Aircraft Leasing Group Holdings  (HKSE:01848) 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.

Read more about Altman Z-Score and the original research.


Be Aware

Altman Z-Score does not apply to financial companies.


China Aircraft Leasing Group Holdings Altman Z-Score Related Terms

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China Aircraft Leasing Group Holdings Business Description

Traded in Other Exchanges
Address
16 Harcourt Road, 32nd Floor, Far East Finance Centre, Admiralty, Hong Kong, HKG
China Aircraft Leasing Group Holdings Ltd is one of the independent aircraft lessors in China. The company delivers multiple types of leases and customizes deals to customer preferences. It has diversified financing channels in onshore and offshore banks, insurance companies, capital and debt markets, and export credit agencies. In addition to providing aircraft leases, the company offers customers lifecycle solutions, including fleet planning, aircraft resales, and aircraft disassembles. China Aircraft Leasing has multiple offices located in Asia and Europe. It works with Chinese and Asian airlines, regional operators, and other international air transportation companies.
Executives
Poon Ho Man 2101 Beneficial owner
China Everbright Holdings Company Limited 2201 Interest of corporation controlled by you
Capella Capital Limited 2201 Interest of corporation controlled by you
Friedmann Pacific Asset Management Limited 2101 Beneficial owner
Ng Christina 2201 Interest of corporation controlled by you
Central Huijin Investment Ltd.
China Everbright Limited
Zhong Guo Guang Da Ji Tuan Gu Fen Gong Si

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