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TL Natural Gas HoldingsHKSE:08536 50 Altman Z-Score is 2.97 as of Aug. 16, 2026, which is 1% below its 10-year median of 3.01. GuruFocus rates HKSE:08536 with a GF Score™ of 50/100 and a GF Value™ of HK$0.29 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 908 Oil & Gas companies, TL Natural Gas Holdings ranks better than 68.5% 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 2.97 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.
TL Natural Gas Holdings has a Altman Z-Score of 2.97, indicating it is in Grey Zones. This implies that TL Natural Gas 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 TL Natural Gas Holdings's Altman Z-Score or its related term are showing as below:
HKSE:08536'
s Altman Z-Score Range Over the Past 10 Years
Min: 0.96 Med: 3.01 Max: 13.67
Current: 2.97
During the past 11 years, TL Natural Gas Holdings's highest Altman Z-Score was 13.67. The lowest was 0.96. And the median was 3.01.
TL Natural Gas Holdings (HKSE:08536) 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.
* 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:08536 vs CASY, WSM, ULTA: Altman Z-Score Comparison
For the Oil & Gas Refining & Marketing subindustry, TL Natural Gas 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.
TL Natural Gas Holdings Altman Z-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TL Natural Gas Holdings's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where TL Natural Gas Holdings's Altman Z-Score falls into.
TL Natural Gas 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.
* 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.
TL Natural Gas Holdings (HKSE:08536) has a Altman Z-Score of 2.97 as of Aug. 16, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on TL Natural Gas Holdings and its competitors. This is near median its historical median of 3.01. Over the past decade, TL Natural Gas Holdings' Altman Z-Score has ranged from 0.96 to 13.67. According to the industry distribution chart, TL Natural Gas Holdings ranks #286 out of 908 companies in the Oil & Gas industry, placing it in the top 31.5%.
Is TL Natural Gas Holdings' Altman Z-Score too high?
TL Natural Gas Holdings' current Altman Z-Score of 2.97 is near median its 10-year median of 3.01. Over the past 10 years, this metric has ranged from a low of 0.96 to a high of 13.67. The Oil & Gas industry median Altman Z-Score is 1.98. TL Natural Gas Holdings' value of 2.97 is 50% above this industry median. Based on the distribution chart, TL Natural Gas Holdings ranks #286 out of 908 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, TL Natural Gas Holdings has a GF Score™ of 50/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TL Natural Gas Holdings' Altman Z-Score compare to CASY and WSM?
According to the Oil & Gas industry distribution chart, TL Natural Gas Holdings ranks #286 out of 908 companies for Altman Z-Score. This puts TL Natural Gas Holdings in the upper half of its industry. The industry median Altman Z-Score is 1.98. TL Natural Gas Holdings' value of 2.97 is 50% above this benchmark. Historically, TL Natural Gas Holdings' own Altman Z-Score has ranged from 0.96 to 13.67 over the past decade. While the company's 10-year median is 3.01 vs. the industry median of 1.98, TL Natural Gas 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 an Oil & Gas company?
The median Altman Z-Score among Oil & Gas companies is 1.98, based on 908 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. TL Natural Gas Holdings's current Altman Z-Score of 2.97 is 50% 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 TL Natural Gas Holdings and its competitors. For the Oil & Gas industry, the median Altman Z-Score is 1.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TL Natural Gas Holdings's current Altman Z-Score is 2.97, which is near median its own 10-year median of 3.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TL Natural Gas Holdings stock overvalued right now?
Based on GuruFocus' analysis, TL Natural Gas Holdings (HKSE:08536) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$0.29, compared to a current price of HK$0.24 — trading 16.2% below its estimated fair value. The current Altman Z-Score is 2.97, which is near median its 10-year median of 3.01 and 50% above the Oil & Gas industry median of 1.98. TL Natural Gas Holdings' overall GF Score™ is 50/100 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 TL Natural Gas Holdings (HKSE:08536), the current Altman Z-Score is 2.97 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 TL Natural Gas Holdings (HKSE:08536) Overvalued in 2026?
Based on GuruFocus' analysis, TL Natural Gas Holdings stock appears to be undervalued.
The current stock price of HK$0.24 is trading 16.2% below its estimated GF Value™ of HK$0.29.
GuruFocus considers TL Natural Gas Holdings to be Modestly Undervalued.
Key valuation signals for HKSE:08536:
Altman Z-Score: 2.97 (near median its 10-year median of 3.01)
GF Value™: HK$0.29 vs. price of HK$0.24 (16.2% below fair value)
Industry Position: 50% above the Oil & Gas median (#286 of 908)
No single metric tells the full story. See the HKSE:08536 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TL Natural Gas Holdings Ltd is engaged in the sale of natural gas, including compressed natural gas and liquefied natural gas, and the provision of transmission services for natural gas. The group has two reportable segments: Sales of natural gas and Others. The Others segment includes automated car wash and fast food catering services. It generates the majority of its revenue from the Sales of natural gas segment.
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