Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
NetEase Cloud MusicHKSE:09899 -3.07%72 Altman Z-Score is 4.79 as of Jul. 15, 2026, which is 12% above its 10-year median of 4.28. GuruFocus rates HKSE:09899 with a GF Score™ of 72/100 and a GF Value™ of HK$107.38 (Fairly Valued). The stock has 3 warning signs investors should review. Among 549 Interactive Media companies, NetEase Cloud Music ranks better than 65.76% 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 4.79 is strong.
NetEase Cloud Music has a Altman Z-Score of 4.79, 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 NetEase Cloud Music's Altman Z-Score or its related term are showing as below:
HKSE:09899'
s Altman Z-Score Range Over the Past 10 Years
Min: 3.03 Med: 4.28 Max: 7.08
Current: 4.79
During the past 8 years, NetEase Cloud Music's highest Altman Z-Score was 7.08. The lowest was 3.03. And the median was 4.28.
NetEase Cloud Music (HKSE:09899) 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.
NetEase Cloud Music Altman Z-Score Related Terms
NetEase Cloud Music Altman Z-Score Historical Data
* Premium members only.
The historical data trend for NetEase Cloud Music'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:09899 vs GOOGL, META, SPOT: Altman Z-Score Comparison
For the Internet Content & Information subindustry, NetEase Cloud Music'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.
NetEase Cloud Music Altman Z-Score vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, NetEase Cloud Music's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where NetEase Cloud Music'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.
NetEase Cloud Music'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
*
0.6432
+
1.4
*
-0.3513
+
3.3
*
0.1256
+
0.6
*
6.0359
+
1.0
*
0.4714
=
4.79
* 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.
NetEase Cloud Music (HKSE:09899) has a Altman Z-Score of 4.79 as of Jul. 15, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on NetEase Cloud Music and its competitors. This is 12% above median its historical median of 4.28. Over the past decade, NetEase Cloud Music's Altman Z-Score has ranged from 3.03 to 7.08. According to the industry distribution chart, NetEase Cloud Music ranks #188 out of 549 companies in the Interactive Media industry, placing it in the top 34.2%.
Is NetEase Cloud Music's Altman Z-Score too high?
NetEase Cloud Music's current Altman Z-Score of 4.79 is 12% above median its 10-year median of 4.28. Over the past 10 years, this metric has ranged from a low of 3.03 to a high of 7.08. The Interactive Media industry median Altman Z-Score is 3.07. NetEase Cloud Music's value of 4.79 is 56% above this industry median. Based on the distribution chart, NetEase Cloud Music ranks #188 out of 549 companies in the Interactive Media industry, which is above the industry midpoint. Overall, NetEase Cloud Music has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NetEase Cloud Music's Altman Z-Score compare to GOOGL and META?
According to the Interactive Media industry distribution chart, NetEase Cloud Music ranks #188 out of 549 companies for Altman Z-Score. This puts NetEase Cloud Music in the upper half of its industry. The industry median Altman Z-Score is 3.07. NetEase Cloud Music's value of 4.79 is 56% above this benchmark. Historically, NetEase Cloud Music's own Altman Z-Score has ranged from 3.03 to 7.08 over the past decade. While the company's 10-year median is 4.28 vs. the industry median of 3.07, NetEase Cloud Music 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 Interactive Media company?
The median Altman Z-Score among Interactive Media companies is 3.07, based on 549 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. NetEase Cloud Music's current Altman Z-Score of 4.79 is 56% 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 NetEase Cloud Music and its competitors. For the Interactive Media industry, the median Altman Z-Score is 3.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NetEase Cloud Music's current Altman Z-Score is 4.79, which is 12% above median its own 10-year median of 4.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NetEase Cloud Music stock overvalued right now?
Based on GuruFocus' analysis, NetEase Cloud Music (HKSE:09899) is currently considered Fairly Valued. The stock's GF Value™ is HK$107.38, compared to a current price of HK$117.00 — trading 9% above its estimated fair value. The current Altman Z-Score is 4.79, which is 12% above median its 10-year median of 4.28 and 56% above the Interactive Media industry median of 3.07. NetEase Cloud Music's overall GF Score™ is 72/100 with 3 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 NetEase Cloud Music (HKSE:09899), the current Altman Z-Score is 4.79 as of Jul. 15, 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 NetEase Cloud Music (HKSE:09899) Overvalued in 2026?
Based on GuruFocus' analysis, NetEase Cloud Music stock appears to be overvalued.
The current stock price of HK$117.00 is trading 9% above its estimated GF Value™ of HK$107.38.
GuruFocus considers NetEase Cloud Music to be Fairly Valued.
Key valuation signals for HKSE:09899:
Altman Z-Score: 4.79 (12% above median its 10-year median of 4.28)
GF Value™: HK$107.38 vs. price of HK$117.00 (9% above fair value)
Industry Position: 56% above the Interactive Media median (#188 of 549)
No single metric tells the full story. See the HKSE:09899 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AddressNo. 353 Benjing Avenue, Room 1201, Block A, Hangzhou International Expo Center, Qianjiang Century City, Xiaoshan District, Zhejiang Province, Hangzhou, CHN
NetEase Cloud Music is China's second-largest music streaming platform, founded in 2013 as a subsidiary of NetEase. NetEase remains the controlling shareholder with a 59.4% stake. The company is headquartered in Hangzhou.The platform's business model revolves around a core music streaming service sold on a subscription basis, paired with a live streaming service where users purchase virtual items and gift them to performers.
72GF Score
Get the complete analysis for HKSE:09899
Altman Z-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HKSE:09899 has been successfully added to your 
