Internet Initiative JapanIIJIF -3.09%94 Altman Z-Score is 3.62 as of Jun. 29, 2026, which is 26% above its 10-year median of 2.88. GuruFocus rates IIJIF with a GF Score™ of 94/100 and a GF Value™ of $19.66 (Fairly Valued). The stock has 5 warning signs investors should review. Among 365 Telecommunication Services companies, Internet Initiative Japan ranks better than 80.82% 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 3.59 is strong.
Internet Initiative Japan has a Altman Z-Score of 3.62, 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 Internet Initiative Japan's Altman Z-Score or its related term are showing as below:
IIJIF'
s Altman Z-Score Range Over the Past 10 Years
Min: 2.11 Med: 2.88 Max: 4.2
Current: 3.59
During the past 13 years, Internet Initiative Japan's highest Altman Z-Score was 4.20. The lowest was 2.11. And the median was 2.88.
Internet Initiative Japan (OTCPK:IIJIF) 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.
For the Telecom Services subindustry, Internet Initiative Japan'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.
Internet Initiative Japan Altman Z-Score vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Internet Initiative Japan's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Internet Initiative Japan's Altman Z-Score falls into.
Internet Initiative Japan 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.
Internet Initiative Japan (IIJIF) has a Altman Z-Score of 3.62 as of Jun. 29, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Internet Initiative Japan and its competitors. This is 26% above median its historical median of 2.88. Over the past decade, Internet Initiative Japan's Altman Z-Score has ranged from 2.11 to 4.20. According to the industry distribution chart, Internet Initiative Japan ranks #70 out of 365 companies in the Telecommunication Services industry, placing it in the top 19.2%.
Is Internet Initiative Japan's Altman Z-Score too high?
Internet Initiative Japan's current Altman Z-Score of 3.62 is 26% above median its 10-year median of 2.88. Over the past 10 years, this metric has ranged from a low of 2.11 to a high of 4.20. The Telecommunication Services industry median Altman Z-Score is 1.71. Internet Initiative Japan's value of 3.62 is 111.7% above this industry median. Based on the distribution chart, Internet Initiative Japan ranks #70 out of 365 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, Internet Initiative Japan has a GF Score™ of 94/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Internet Initiative Japan's Altman Z-Score compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Internet Initiative Japan ranks #70 out of 365 companies for Altman Z-Score. This places Internet Initiative Japan in the top 19% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 1.71. Internet Initiative Japan's value of 3.62 is 111.7% above this benchmark. Historically, Internet Initiative Japan's own Altman Z-Score has ranged from 2.11 to 4.20 over the past decade. While the company's 10-year median is 2.88 vs. the industry median of 1.71, Internet Initiative Japan 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 Telecommunication Services company?
The median Altman Z-Score among Telecommunication Services companies is 1.71, based on 365 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. Internet Initiative Japan's current Altman Z-Score of 3.62 is 111.7% 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 Internet Initiative Japan and its competitors. For the Telecommunication Services industry, the median Altman Z-Score is 1.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Internet Initiative Japan's current Altman Z-Score is 3.62, which is 26% above median its own 10-year median of 2.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Internet Initiative Japan stock overvalued right now?
Based on GuruFocus' analysis, Internet Initiative Japan (IIJIF) is currently considered Fairly Valued. The stock's GF Value™ is $19.66, compared to a current price of $18.51 — trading 5.8% below its estimated fair value. The current Altman Z-Score is 3.62, which is 26% above median its 10-year median of 2.88 and 111.7% above the Telecommunication Services industry median of 1.71. Internet Initiative Japan's overall GF Score™ is 94/100 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 Internet Initiative Japan (IIJIF), the current Altman Z-Score is 3.62 as of Jun. 29, 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 Internet Initiative Japan (IIJIF) Overvalued in 2026?
Based on GuruFocus' analysis, Internet Initiative Japan stock appears to be undervalued.
The current stock price of $18.51 is trading 5.8% below its estimated GF Value™ of $19.66.
GuruFocus considers Internet Initiative Japan to be Fairly Valued.
Key valuation signals for IIJIF:
Altman Z-Score: 3.62 (26% above median its 10-year median of 2.88)
GF Value™: $19.66 vs. price of $18.51 (5.8% below fair value)
Industry Position: 111.7% above the Telecommunication Services median (#70 of 365)
No single metric tells the full story. See the IIJIF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Internet Initiative Japan Inc. is a provider of a variety of services including Internet access, outsourcing, and systems integration. Its Internet access services span dial-up, mobile, and broadband technologies. Its wide area network services allow secure data sharing over Internet virtual private networks, independently developed routers, and closed wide area networks. Its outsourcing services include cloud, content delivery, data center, and security services. The firm generates nearly all its revenue in Japan.
94GF Score
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