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 2.85 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.
PT Alamtri Resources Indonesia Tbk has a Altman Z-Score of 2.87, indicating it is in Grey Zones. This implies that PT Alamtri Resources Indonesia Tbk 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.
ISX:ADRO'
s Altman Z-Score Range Over the Past 10 Years
Min: 1.58 Med: 2.4 Max: 4.77
Current: 2.85
During the past 13 years, PT Alamtri Resources Indonesia Tbk's highest Altman Z-Score was 4.77. The lowest was 1.58. And the median was 2.40.
PT Alamtri Resources Indonesia Tbk (ISX:ADRO) 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.
PT Alamtri Resources Indonesia Tbk Altman Z-Score Chart
PT Alamtri Resources Indonesia Tbk Altman Z-Score Competitor Comparison
For the Thermal Coal subindustry, PT Alamtri Resources Indonesia Tbk'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.
PT Alamtri Resources Indonesia Tbk Altman Z-Score vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, PT Alamtri Resources Indonesia Tbk's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where PT Alamtri Resources Indonesia Tbk's Altman Z-Score falls into.
PT Alamtri Resources Indonesia Tbk 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.
Trailing Twelve Months (TTM) ended in Mar. 2026: Total Assets was Rp121,643,874 Mil. Total Current Assets was Rp43,114,781 Mil. Total Current Liabilities was Rp9,978,584 Mil. Retained Earnings was Rp56,720,107 Mil. Pre-Tax Income was 3052565.644 + 3195739.015 + 2845285.261 + 2331163.674 = Rp11,424,754 Mil. Interest Expense was -22363.676 + -25461.66 + -46866.746 + -50639.889 = Rp-145,332 Mil. Revenue was 7972117.354 + 8777088.516 + 8097068.146 + 7764310.05 = Rp32,610,584 Mil. Market Cap (Today) was Rp64,801,112 Mil. Total Liabilities was Rp29,826,491 Mil.
* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.
PT Alamtri Resources Indonesia Tbk (ISX:ADRO) has a Altman Z-Score of 2.87 as of Jun. 27, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on PT Alamtri Resources Indonesia Tbk and its competitors. This is 20% above median its historical median of 2.40. Over the past decade, PT Alamtri Resources Indonesia Tbk's Altman Z-Score has ranged from 1.58 to 4.77. According to the industry distribution chart, PT Alamtri Resources Indonesia Tbk ranks #50 out of 129 companies in the Other Energy Sources industry, placing it in the top 38.8%.
Is PT Alamtri Resources Indonesia Tbk's Altman Z-Score too high?
PT Alamtri Resources Indonesia Tbk's current Altman Z-Score of 2.87 is 20% above median its 10-year median of 2.40. Over the past 10 years, this metric has ranged from a low of 1.58 to a high of 4.77. The Other Energy Sources industry median Altman Z-Score is 2.21. PT Alamtri Resources Indonesia Tbk's value of 2.87 is 29.9% above this industry median. Based on the distribution chart, PT Alamtri Resources Indonesia Tbk ranks #50 out of 129 companies in the Other Energy Sources industry, which is above the industry midpoint. Overall, PT Alamtri Resources Indonesia Tbk has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does PT Alamtri Resources Indonesia Tbk's Altman Z-Score compare to competitors?
According to the Other Energy Sources industry distribution chart, PT Alamtri Resources Indonesia Tbk ranks #50 out of 129 companies for Altman Z-Score. This puts PT Alamtri Resources Indonesia Tbk in the upper half of its industry. The industry median Altman Z-Score is 2.21. PT Alamtri Resources Indonesia Tbk's value of 2.87 is 29.9% above this benchmark. Historically, PT Alamtri Resources Indonesia Tbk's own Altman Z-Score has ranged from 1.58 to 4.77 over the past decade. While the company's 10-year median is 2.40 vs. the industry median of 2.21, PT Alamtri Resources Indonesia Tbk 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 Other Energy Sources company?
The median Altman Z-Score among Other Energy Sources companies is 2.21, based on 129 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. PT Alamtri Resources Indonesia Tbk's current Altman Z-Score of 2.87 is 29.9% 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 PT Alamtri Resources Indonesia Tbk and its competitors. For the Other Energy Sources industry, the median Altman Z-Score is 2.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Alamtri Resources Indonesia Tbk's current Altman Z-Score is 2.87, which is 20% above median its own 10-year median of 2.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Alamtri Resources Indonesia Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Alamtri Resources Indonesia Tbk (ISX:ADRO) is currently considered Fairly Valued. The stock's GF Value™ is Rp2,450.03, compared to a current price of Rp2,250.00 — trading 8.2% below its estimated fair value. The current Altman Z-Score is 2.87, which is 20% above median its 10-year median of 2.40 and 29.9% above the Other Energy Sources industry median of 2.21. PT Alamtri Resources Indonesia Tbk's overall GF Score™ is 85/100 with 6 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 PT Alamtri Resources Indonesia Tbk (ISX:ADRO), the current Altman Z-Score is 2.87 as of Jun. 27, 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 PT Alamtri Resources Indonesia Tbk (ISX:ADRO) Overvalued in 2026?
Based on GuruFocus' analysis, PT Alamtri Resources Indonesia Tbk stock appears to be undervalued.
The current stock price of Rp2,250.00 is trading 8.2% below its estimated GF Value™ of Rp2,450.03.
GuruFocus considers PT Alamtri Resources Indonesia Tbk to be Fairly Valued.
Key valuation signals for ISX:ADRO:
Altman Z-Score: 2.87 (20% above median its 10-year median of 2.40)
GF Value™: Rp2,450.03 vs. price of Rp2,250.00 (8.2% below fair value)
Industry Position: 29.9% above the Other Energy Sources median (#50 of 129)
No single metric tells the full story. See the ISX:ADRO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Alamtri Resources Indonesia Tbk Business Description
PT Alamtri Resources Indonesia Tbk is an integrated mining, energy, and minerals company. The company produces thermal coal, which is marketed under the brand name Envirocoal, and is also engaged in the production of hard coking coal. The company's main customers are blue-chip power utilities companies. In addition to the core mining business, the company also engages in barging, ship-loading, dredging, port services, marketing, power generation, and other businesses through its subsidiaries. The company's operating segments are; Mining, Mining Services, and Others.
85GF Score
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