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ETS GroupHKSE:08031 46 Altman Z-Score is 8.16 as of Jul. 17, 2026, which is 95% above its 10-year median of 4.18. GuruFocus rates HKSE:08031 with a GF Score™ of 46/100 and a GF Value™ of HK$0.18 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,063 Business Services companies, ETS Group ranks better than 88.71% 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 8.16 is strong.
ETS Group has a Altman Z-Score of 8.16, 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 ETS Group's Altman Z-Score or its related term are showing as below:
HKSE:08031'
s Altman Z-Score Range Over the Past 10 Years
Min: 2.69 Med: 4.18 Max: 12.51
Current: 8.16
During the past 13 years, ETS Group's highest Altman Z-Score was 12.51. The lowest was 2.69. And the median was 4.18.
ETS Group (HKSE:08031) 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.
ETS Group Altman Z-Score Related Terms
ETS Group Altman Z-Score Historical Data
* Premium members only.
The historical data trend for ETS Group'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:08031 vs KFY, RHI, TNET: Altman Z-Score Comparison
For the Staffing & Employment Services subindustry, ETS Group'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.
ETS Group Altman Z-Score vs Business Services Industry
For the Business Services industry and Industrials sector, ETS Group's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where ETS Group'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.
ETS Group'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
*
0.7537
+
1.4
*
0.2986
+
3.3
*
-0.1285
+
0.6
*
10.137
+
1.0
*
1.1765
=
8.16
* 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.
ETS Group (HKSE:08031) has a Altman Z-Score of 8.16 as of Jul. 17, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on ETS Group and its competitors. This is 95% above median its historical median of 4.18. Over the past decade, ETS Group's Altman Z-Score has ranged from 2.69 to 12.51. According to the industry distribution chart, ETS Group ranks #120 out of 1063 companies in the Business Services industry, placing it in the top 11.3%.
Is ETS Group's Altman Z-Score too high?
ETS Group's current Altman Z-Score of 8.16 is 95% above median its 10-year median of 4.18. Over the past 10 years, this metric has ranged from a low of 2.69 to a high of 12.51. The Business Services industry median Altman Z-Score is 2.99. ETS Group's value of 8.16 is 172.9% above this industry median. Based on the distribution chart, ETS Group ranks #120 out of 1063 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, ETS Group has a GF Score™ of 46/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ETS Group's Altman Z-Score compare to KFY and RHI?
According to the Business Services industry distribution chart, ETS Group ranks #120 out of 1063 companies for Altman Z-Score. This places ETS Group in the top 11% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 2.99. ETS Group's value of 8.16 is 172.9% above this benchmark. Historically, ETS Group's own Altman Z-Score has ranged from 2.69 to 12.51 over the past decade. While the company's 10-year median is 4.18 vs. the industry median of 2.99, ETS Group 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 1,063 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. ETS Group's current Altman Z-Score of 8.16 is 172.9% 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 ETS Group 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. ETS Group's current Altman Z-Score is 8.16, which is 95% above median its own 10-year median of 4.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ETS Group stock overvalued right now?
Based on GuruFocus' analysis, ETS Group (HKSE:08031) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.18, compared to a current price of HK$0.41 — trading 127.8% above its estimated fair value. The current Altman Z-Score is 8.16, which is 95% above median its 10-year median of 4.18 and 172.9% above the Business Services industry median of 2.99. ETS Group's overall GF Score™ is 46/100 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 ETS Group (HKSE:08031), the current Altman Z-Score is 8.16 as of Jul. 17, 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 ETS Group (HKSE:08031) Overvalued in 2026?
Based on GuruFocus' analysis, ETS Group stock appears to be overvalued.
The current stock price of HK$0.41 is trading 127.8% above its estimated GF Value™ of HK$0.18.
GuruFocus considers ETS Group to be Significantly Overvalued.
Key valuation signals for HKSE:08031:
Altman Z-Score: 8.16 (95% above median its 10-year median of 4.18)
GF Value™: HK$0.18 vs. price of HK$0.41 (127.8% above fair value)
Industry Position: 172.9% above the Business Services median (#120 of 1063)
No single metric tells the full story. See the HKSE:08031 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ETS Group Ltd is engaged in providing comprehensive multi-media contact services, contact centre system and staff insourcing in Hong Kong. It has its services in six operating segments: Outsourcing inbound contact service, Outsourcing outbound contact service, Staff insourcing service, Contact service centre & service centre facilities management service, and The System and software business. Key revenue is earned from Staff insourcing services.
46GF Score
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