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 5.29 is strong.
PT Indonesia Fibreboard Industry Tbk has a Altman Z-Score of 5.22, 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.
ISX:IFII'
s Altman Z-Score Range Over the Past 10 Years
Min: 2.36 Med: 5.31 Max: 21.57
Current: 5.29
During the past 10 years, PT Indonesia Fibreboard Industry Tbk's highest Altman Z-Score was 21.57. The lowest was 2.36. And the median was 5.31.
PT Indonesia Fibreboard Industry Tbk (ISX:IFII) 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 Indonesia Fibreboard Industry Tbk Altman Z-Score Chart
ISX:IFII vs SSD, UFPI, BCC: Altman Z-Score Comparison
For the Lumber & Wood Production subindustry, PT Indonesia Fibreboard Industry 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 Indonesia Fibreboard Industry Tbk Altman Z-Score vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, PT Indonesia Fibreboard Industry Tbk's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where PT Indonesia Fibreboard Industry Tbk's Altman Z-Score falls into.
PT Indonesia Fibreboard Industry 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.
PT Indonesia Fibreboard Industry Tbk (ISX:IFII) has a Altman Z-Score of 5.22 as of Jun. 27, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on PT Indonesia Fibreboard Industry Tbk and its competitors. This is near median its historical median of 5.31. Over the past decade, PT Indonesia Fibreboard Industry Tbk's Altman Z-Score has ranged from 2.36 to 21.57. According to the industry distribution chart, PT Indonesia Fibreboard Industry Tbk ranks #30 out of 282 companies in the Forest Products industry, placing it in the top 10.6%.
Is PT Indonesia Fibreboard Industry Tbk's Altman Z-Score too high?
PT Indonesia Fibreboard Industry Tbk's current Altman Z-Score of 5.22 is near median its 10-year median of 5.31. Over the past 10 years, this metric has ranged from a low of 2.36 to a high of 21.57. The Forest Products industry median Altman Z-Score is 1.81. PT Indonesia Fibreboard Industry Tbk's value of 5.22 is 188.4% above this industry median. Based on the distribution chart, PT Indonesia Fibreboard Industry Tbk ranks #30 out of 282 companies in the Forest Products industry, which is in the top quartile — a strong position relative to peers. Overall, PT Indonesia Fibreboard Industry Tbk has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does PT Indonesia Fibreboard Industry Tbk's Altman Z-Score compare to SSD and UFPI?
According to the Forest Products industry distribution chart, PT Indonesia Fibreboard Industry Tbk ranks #30 out of 282 companies for Altman Z-Score. This places PT Indonesia Fibreboard Industry Tbk in the top 11% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 1.81. PT Indonesia Fibreboard Industry Tbk's value of 5.22 is 188.4% above this benchmark. Historically, PT Indonesia Fibreboard Industry Tbk's own Altman Z-Score has ranged from 2.36 to 21.57 over the past decade. While the company's 10-year median is 5.31 vs. the industry median of 1.81, PT Indonesia Fibreboard Industry 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 a Forest Products company?
The median Altman Z-Score among Forest Products companies is 1.81, based on 282 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 Indonesia Fibreboard Industry Tbk's current Altman Z-Score of 5.22 is 188.4% 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 Indonesia Fibreboard Industry Tbk and its competitors. For the Forest Products industry, the median Altman Z-Score is 1.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Indonesia Fibreboard Industry Tbk's current Altman Z-Score is 5.22, which is near median its own 10-year median of 5.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Indonesia Fibreboard Industry Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Indonesia Fibreboard Industry Tbk (ISX:IFII) is currently considered Fairly Valued. The stock's GF Value™ is Rp211.08, compared to a current price of Rp214.00 — trading 1.4% above its estimated fair value. The current Altman Z-Score is 5.22, which is near median its 10-year median of 5.31 and 188.4% above the Forest Products industry median of 1.81. PT Indonesia Fibreboard Industry Tbk's overall GF Score™ is 89/100 with 2 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 Indonesia Fibreboard Industry Tbk (ISX:IFII), the current Altman Z-Score is 5.22 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 Indonesia Fibreboard Industry Tbk (ISX:IFII) Overvalued in 2026?
Based on GuruFocus' analysis, PT Indonesia Fibreboard Industry Tbk stock appears to be overvalued.
The current stock price of Rp214.00 is trading 1.4% above its estimated GF Value™ of Rp211.08.
GuruFocus considers PT Indonesia Fibreboard Industry Tbk to be Fairly Valued.
Key valuation signals for ISX:IFII:
Altman Z-Score: 5.22 (near median its 10-year median of 5.31)
GF Value™: Rp211.08 vs. price of Rp214.00 (1.4% above fair value)
Industry Position: 188.4% above the Forest Products median (#30 of 282)
No single metric tells the full story. See the ISX:IFII stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Indonesia Fibreboard Industry Tbk Business Description
PT Indonesia Fibreboard Industry Tbk is a wood processing company developing a variety of processed wood such as veneer and plywood. Its product portfolio includes High-Density Fireboard, Medium Density Fireboard, Low-Density Fireboard, High Moisture Resistance, Plywood, Plywood MDF, MDF Laminate Paper, and Veneer. Its segments include Japan MDF, Regular MDF, Middle East MDF, and Others. A vast majority of its revenues are derived from Middle East MDF segment.
89GF Score
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