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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 -2.16 is in distress zone. This implies bankruptcy possibility in the next two years.
PT Sepatu Bata Tbk has a Altman Z-Score of -2.16, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
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 PT Sepatu Bata Tbk's Altman Z-Score or its related term are showing as below:
ISX:BATA'
s Altman Z-Score Range Over the Past 10 Years
Min: -2.16 Med: 3.8 Max: 7.03
Current: -2.16
During the past 13 years, PT Sepatu Bata Tbk's highest Altman Z-Score was 7.03. The lowest was -2.16. And the median was 3.80.
PT Sepatu Bata Tbk (ISX:BATA) 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.
PT Sepatu Bata Tbk Altman Z-Score Related Terms
PT Sepatu Bata Tbk Altman Z-Score Historical Data
* Premium members only.
The historical data trend for PT Sepatu Bata Tbk'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.
ISX:BATA vs NKE, DECK, ONON: Altman Z-Score Comparison
For the Footwear & Accessories subindustry, PT Sepatu Bata 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 Sepatu Bata Tbk Altman Z-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, PT Sepatu Bata Tbk's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where PT Sepatu Bata Tbk'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.
PT Sepatu Bata Tbk'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
*
-0.7555
+
1.4
*
-0.7352
+
3.3
*
-0.4255
+
0.6
*
0.1707
+
1.0
*
1.073
=
-2.16
* 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.
PT Sepatu Bata Tbk (ISX:BATA) has a Altman Z-Score of -2.16 as of Sep. 09, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on PT Sepatu Bata Tbk and its competitors. According to the industry distribution chart, PT Sepatu Bata Tbk ranks #1005 out of 1038 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 96.8%.
Is PT Sepatu Bata Tbk's Altman Z-Score too high?
PT Sepatu Bata Tbk's current Altman Z-Score is -2.16. Based on the distribution chart, PT Sepatu Bata Tbk ranks #1005 out of 1038 companies in the Manufacturing - Apparel & Accessories industry, which is in the bottom quartile relative to peers. Overall, PT Sepatu Bata Tbk has a GF Score™ of 47/100, reflecting its overall financial health beyond just this single metric.
How does PT Sepatu Bata Tbk's Altman Z-Score compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, PT Sepatu Bata Tbk ranks #1005 out of 1038 companies for Altman Z-Score. This places PT Sepatu Bata Tbk in the lower half of its industry. The industry median Altman Z-Score is 2.57. 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 Manufacturing - Apparel & Accessories company?
The median Altman Z-Score among Manufacturing - Apparel & Accessories companies is 2.57, based on 1,038 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. 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 Sepatu Bata Tbk and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Altman Z-Score is 2.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Sepatu Bata Tbk's current Altman Z-Score is -2.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Sepatu Bata Tbk stock overvalued right now?
PT Sepatu Bata Tbk (ISX:BATA) has a current Altman Z-Score of -2.16. The stock's GF Value™ is Rp43.62, compared to a current price of Rp59.00 — trading 35.3% above its estimated fair value. The current Altman Z-Score is -2.16. PT Sepatu Bata Tbk's overall GF Score™ is 47/100 with 7 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 Sepatu Bata Tbk (ISX:BATA), the current Altman Z-Score is -2.16 as of Sep. 09, 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 Sepatu Bata Tbk (ISX:BATA) Overvalued in 2026?
Based on GuruFocus' analysis, PT Sepatu Bata Tbk stock appears to be overvalued.
The current stock price of Rp59.00 is trading 35.3% above its estimated GF Value™ of Rp43.62.
Key valuation signals for ISX:BATA:
Altman Z-Score: -2.16
GF Value™: Rp43.62 vs. price of Rp59.00 (35.3% above fair value)
No single metric tells the full story. See the ISX:BATA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AddressGedung Ventura Lantai 7 Unit 701, Jalan RA. Kartini Kav. 26, RT.12/RW.6, Cilandak Barat, Kecamatan Cilandak, Kota Jakarta Selatan, Jakarta, IDN, 12430
PT Sepatu Bata Tbk is engaged in the footwear manufacturing and retail industry. It presents a range of footwear comprising leather shoes, sandals, built-up canvas shoes, casual shoes, sports shoes, industrial safety footwear, and injection-molded shoes. The products are marketed by the company under various brand names, such as Bata, which is its main brand; North Star; Power; Bubblegummers; Marie Claire; Pata Pata, and Weinbrenne. Its segment comprises Retail, E-commerce, Industrial, export-related parties, and Others.
47GF Score
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