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H2O RetailingHTOCF 69 Altman Z-Score is 1.96 as of Jul. 18, 2026, which is 9% above its 10-year median of 1.80. GuruFocus rates HTOCF with a GF Score™ of 69/100 and a GF Value™ of $7.44. The stock has 5 warning signs investors should review. Among 310 Retail - Defensive companies, H2O Retailing ranks worse than 82.26% 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 1.92 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.
H2O Retailing has a Altman Z-Score of 1.96, indicating it is in Grey Zones. This implies that H2O Retailing 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 H2O Retailing's Altman Z-Score or its related term are showing as below:
HTOCF'
s Altman Z-Score Range Over the Past 10 Years
Min: 1.2 Med: 1.8 Max: 2.12
Current: 1.92
During the past 13 years, H2O Retailing's highest Altman Z-Score was 2.12. The lowest was 1.20. And the median was 1.80.
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.
H2O Retailing Altman Z-Score Related Terms
H2O Retailing Altman Z-Score Historical Data
* Premium members only.
The historical data trend for H2O Retailing'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.
For the Grocery Stores subindustry, H2O Retailing'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.
H2O Retailing Altman Z-Score vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, H2O Retailing's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where H2O Retailing'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.
H2O Retailing'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
*
-0.0453
+
1.4
*
0.2522
+
3.3
*
0.0531
+
0.6
*
0.8125
+
1.0
*
0.9961
=
1.96
* 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.
H2O Retailing (HTOCF) has a Altman Z-Score of 1.96 as of Jul. 18, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on H2O Retailing and its competitors. This is near median its historical median of 1.80. Over the past decade, H2O Retailing's Altman Z-Score has ranged from 1.20 to 2.12. According to the industry distribution chart, H2O Retailing ranks #255 out of 310 companies in the Retail - Defensive industry, placing it in the top 82.3%.
Is H2O Retailing's Altman Z-Score too high?
H2O Retailing's current Altman Z-Score of 1.96 is near median its 10-year median of 1.80. Over the past 10 years, this metric has ranged from a low of 1.20 to a high of 2.12. The Retail - Defensive industry median Altman Z-Score is 3.54. H2O Retailing's value of 1.96 is 44.6% below this industry median. Based on the distribution chart, H2O Retailing ranks #255 out of 310 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, H2O Retailing has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does H2O Retailing's Altman Z-Score compare to KR?
According to the Retail - Defensive industry distribution chart, H2O Retailing ranks #255 out of 310 companies for Altman Z-Score. This places H2O Retailing in the lower half of its industry. The industry median Altman Z-Score is 3.54. H2O Retailing's value of 1.96 is 44.6% below this benchmark. Historically, H2O Retailing's own Altman Z-Score has ranged from 1.20 to 2.12 over the past decade. While the company's 10-year median is 1.80 vs. the industry median of 3.54, H2O Retailing has consistently been below 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 Retail - Defensive company?
The median Altman Z-Score among Retail - Defensive companies is 3.54, based on 310 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. H2O Retailing's current Altman Z-Score of 1.96 is 44.6% below 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 H2O Retailing and its competitors. For the Retail - Defensive industry, the median Altman Z-Score is 3.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. H2O Retailing's current Altman Z-Score is 1.96, which is near median its own 10-year median of 1.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is H2O Retailing stock overvalued right now?
H2O Retailing (HTOCF) has a current Altman Z-Score of 1.96. The stock's GF Value™ is $7.44, compared to a current price of $10.00 — trading 34.4% above its estimated fair value. The current Altman Z-Score is 1.96, which is near median its 10-year median of 1.80 and 44.6% below the Retail - Defensive industry median of 3.54. H2O Retailing's overall GF Score™ is 69/100 with 5 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 H2O Retailing (HTOCF), the current Altman Z-Score is 1.96 as of Jul. 18, 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 H2O Retailing (HTOCF) Overvalued in 2026?
Based on GuruFocus' analysis, H2O Retailing stock appears to be overvalued.
The current stock price of $10.00 is trading 34.4% above its estimated GF Value™ of $7.44.
Key valuation signals for HTOCF:
Altman Z-Score: 1.96 (near median its 10-year median of 1.80)
GF Value™: $7.44 vs. price of $10.00 (34.4% above fair value)
Industry Position: 44.6% below the Retail - Defensive median (#255 of 310)
No single metric tells the full story. See the HTOCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
H2O Retailing Corp is a Japan-based retailer that provides a broad range of merchandise to meet consumers' needs, from daily needs to special products. The company's core business is the department store business, which includes both the Hankyu and Hanshin department store chains. Superstore business is the company's another major business arm, including the Izumiya and Hankyu Oasis store chains. H2O Retailing also runs a specialty store business, engaged in providing cosmetics, ladies' footwear, and other products and services. In addition to retail businesses, the company operates other businesses as well, such as hotels and restaurants.
69GF Score
Get the complete analysis for HTOCF
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