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East Nova HoldingsHKSE:03626 -4.09%50 Altman Z-Score is 12.95 as of Aug. 31, 2026, which is 10% above its 10-year median of 11.76. GuruFocus rates HKSE:03626 with a GF Score™ of 50/100 and a GF Value™ of HK$0.64 (Significantly Overvalued). Among 1,056 Business Services companies, East Nova Holdings ranks better than 93.18% 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 13.33 is strong.
East Nova Holdings has a Altman Z-Score of 12.95, 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 East Nova Holdings's Altman Z-Score or its related term are showing as below:
HKSE:03626'
s Altman Z-Score Range Over the Past 10 Years
Min: 2.09 Med: 11.76 Max: 55.34
Current: 13.33
During the past 13 years, East Nova Holdings's highest Altman Z-Score was 55.34. The lowest was 2.09. And the median was 11.76.
East Nova Holdings (HKSE:03626) 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.
East Nova Holdings Altman Z-Score Related Terms
East Nova Holdings Altman Z-Score Historical Data
* Premium members only.
The historical data trend for East Nova 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:03626 vs CTAS, CPRT, GPN: Altman Z-Score Comparison
For the Specialty Business Services subindustry, East Nova 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.
East Nova Holdings Altman Z-Score vs Business Services Industry
For the Business Services industry and Industrials sector, East Nova Holdings's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where East Nova 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.
East Nova 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
*
0.2465
+
1.4
*
0.9962
+
3.3
*
0.0973
+
0.6
*
14.5728
+
1.0
*
2.1969
=
12.95
* 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.
East Nova Holdings (HKSE:03626) has a Altman Z-Score of 12.95 as of Aug. 31, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on East Nova Holdings and its competitors. This is 10% above median its historical median of 11.76. Over the past decade, East Nova Holdings' Altman Z-Score has ranged from 2.09 to 55.34. According to the industry distribution chart, East Nova Holdings ranks #72 out of 1056 companies in the Business Services industry, placing it in the top 6.8%.
Is East Nova Holdings' Altman Z-Score too high?
East Nova Holdings' current Altman Z-Score of 12.95 is 10% above median its 10-year median of 11.76. Over the past 10 years, this metric has ranged from a low of 2.09 to a high of 55.34. The Business Services industry median Altman Z-Score is 2.99. East Nova Holdings' value of 12.95 is 333.8% above this industry median. Based on the distribution chart, East Nova Holdings ranks #72 out of 1056 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, East Nova Holdings has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does East Nova Holdings' Altman Z-Score compare to CTAS and CPRT?
According to the Business Services industry distribution chart, East Nova Holdings ranks #72 out of 1056 companies for Altman Z-Score. This places East Nova Holdings in the top 7% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 2.99. East Nova Holdings' value of 12.95 is 333.8% above this benchmark. Historically, East Nova Holdings' own Altman Z-Score has ranged from 2.09 to 55.34 over the past decade. While the company's 10-year median is 11.76 vs. the industry median of 2.99, East Nova Holdings 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 Business Services company?
The median Altman Z-Score among Business Services companies is 2.99, based on 1,056 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. East Nova Holdings's current Altman Z-Score of 12.95 is 333.8% 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 East Nova Holdings and its competitors. For the Business Services industry, the median Altman Z-Score is 2.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. East Nova Holdings's current Altman Z-Score is 12.95, which is 10% above median its own 10-year median of 11.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is East Nova Holdings stock overvalued right now?
Based on GuruFocus' analysis, East Nova Holdings (HKSE:03626) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.64, compared to a current price of HK$1.64 — trading 156.3% above its estimated fair value. The current Altman Z-Score is 12.95, which is 10% above median its 10-year median of 11.76 and 333.8% above the Business Services industry median of 2.99. East Nova Holdings' overall GF Score™ is 50/100. 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 East Nova Holdings (HKSE:03626), the current Altman Z-Score is 12.95 as of Aug. 31, 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 East Nova Holdings (HKSE:03626) Overvalued in 2026?
Based on GuruFocus' analysis, East Nova Holdings stock appears to be overvalued.
The current stock price of HK$1.64 is trading 156.3% above its estimated GF Value™ of HK$0.64.
GuruFocus considers East Nova Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:03626:
Altman Z-Score: 12.95 (10% above median its 10-year median of 11.76)
GF Value™: HK$0.64 vs. price of HK$1.64 (156.3% above fair value)
Industry Position: 333.8% above the Business Services median (#72 of 1056)
No single metric tells the full story. See the HKSE:03626 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
East Nova Holdings Ltd, formerly known as Hang Sang (Siu Po) International Holding Co Ltd, engages in the manufacturing and sale of apparel labels and packaging printing products, and the trading and online distribution of food, daily necessities, and utility products. Its products include leaflets, business cards, books, stationery, and catalogs. The Group operates through four segments: printing, which manufactures and sells apparel labels and packaging printing products; food and daily necessities, which covers the sale and distribution of food, household, and utility items; restaurant operations, which generate revenue from catering services; and e-cigarette product sales. The printing segment contributes the majority of the Group's revenue, mainly from Hong Kong.
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