PT Indo-Rama Synthetics TbkISX:INDR +1.57%65 Altman Z-Score is 1.43 as of Jul. 04, 2026, which is 11% below its 10-year median of 1.61. GuruFocus rates ISX:INDR with a GF Score™ of 65/100 and a GF Value™ of Rp3,027.58 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 1,030 Manufacturing - Apparel & Accessories companies, PT Indo-Rama Synthetics Tbk ranks worse than 76.21% 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 1.44 is in distress zone. This implies bankruptcy possibility in the next two years.
PT Indo-Rama Synthetics Tbk has a Altman Z-Score of 1.43, 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 Indo-Rama Synthetics Tbk's Altman Z-Score or its related term are showing as below:
ISX:INDR'
s Altman Z-Score Range Over the Past 10 Years
Min: 1.08 Med: 1.61 Max: 2.69
Current: 1.44
During the past 13 years, PT Indo-Rama Synthetics Tbk's highest Altman Z-Score was 2.69. The lowest was 1.08. And the median was 1.61.
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 Textile Manufacturing subindustry, PT Indo-Rama Synthetics 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 Indo-Rama Synthetics Tbk Altman Z-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, PT Indo-Rama Synthetics Tbk's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where PT Indo-Rama Synthetics 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.
* 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 Rp13,195,517 Mil. Total Current Assets was Rp4,940,273 Mil. Total Current Liabilities was Rp4,923,649 Mil. Retained Earnings was Rp3,599,756 Mil. Pre-Tax Income was -104013.95 + -22638.155 + -35311.014 + -127292.862 = Rp-289,256 Mil. Interest Expense was -26426.721 + -21802.799 + -20734.284 + -24431.096 = Rp-93,395 Mil. Revenue was 3270446.427 + 3701363.469 + 3146295.563 + 2875301.923 = Rp12,993,407 Mil. Market Cap (Today) was Rp1,266,171 Mil. Total Liabilities was Rp6,824,172 Mil.
* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.
PT Indo-Rama Synthetics Tbk (ISX:INDR) has a Altman Z-Score of 1.43 as of Jul. 04, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on PT Indo-Rama Synthetics Tbk and its competitors. This is 11% below median its historical median of 1.61. Over the past decade, PT Indo-Rama Synthetics Tbk's Altman Z-Score has ranged from 1.08 to 2.69. According to the industry distribution chart, PT Indo-Rama Synthetics Tbk ranks #785 out of 1030 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 76.2%.
Is PT Indo-Rama Synthetics Tbk's Altman Z-Score too high?
PT Indo-Rama Synthetics Tbk's current Altman Z-Score of 1.43 is 11% below median its 10-year median of 1.61. Over the past 10 years, this metric has ranged from a low of 1.08 to a high of 2.69. The Manufacturing - Apparel & Accessories industry median Altman Z-Score is 2.50. PT Indo-Rama Synthetics Tbk's value of 1.43 is 42.7% below this industry median. Based on the distribution chart, PT Indo-Rama Synthetics Tbk ranks #785 out of 1030 companies in the Manufacturing - Apparel & Accessories industry, which is in the bottom quartile relative to peers. Overall, PT Indo-Rama Synthetics Tbk has a GF Score™ of 65/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does PT Indo-Rama Synthetics Tbk's Altman Z-Score compare to competitors?
According to the Manufacturing - Apparel & Accessories industry distribution chart, PT Indo-Rama Synthetics Tbk ranks #785 out of 1030 companies for Altman Z-Score. This places PT Indo-Rama Synthetics Tbk in the lower half of its industry. The industry median Altman Z-Score is 2.50. PT Indo-Rama Synthetics Tbk's value of 1.43 is 42.7% below this benchmark. Historically, PT Indo-Rama Synthetics Tbk's own Altman Z-Score has ranged from 1.08 to 2.69 over the past decade. While the company's 10-year median is 1.61 vs. the industry median of 2.50, PT Indo-Rama Synthetics Tbk 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 Manufacturing - Apparel & Accessories company?
The median Altman Z-Score among Manufacturing - Apparel & Accessories companies is 2.50, based on 1,030 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 Indo-Rama Synthetics Tbk's current Altman Z-Score of 1.43 is 42.7% 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 PT Indo-Rama Synthetics Tbk and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Altman Z-Score is 2.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Indo-Rama Synthetics Tbk's current Altman Z-Score is 1.43, which is 11% below median its own 10-year median of 1.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Indo-Rama Synthetics Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Indo-Rama Synthetics Tbk (ISX:INDR) is currently considered Possible Value Trap. The stock's GF Value™ is Rp3,027.58, compared to a current price of Rp1,935.00 — trading 36.1% below its estimated fair value. The current Altman Z-Score is 1.43, which is 11% below median its 10-year median of 1.61 and 42.7% below the Manufacturing - Apparel & Accessories industry median of 2.50. PT Indo-Rama Synthetics Tbk's overall GF Score™ is 65/100 with 4 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 Indo-Rama Synthetics Tbk (ISX:INDR), the current Altman Z-Score is 1.43 as of Jul. 04, 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 Indo-Rama Synthetics Tbk (ISX:INDR) Overvalued in 2026?
Based on GuruFocus' analysis, PT Indo-Rama Synthetics Tbk stock appears to be undervalued.
The current stock price of Rp1,935.00 is trading 36.1% below its estimated GF Value™ of Rp3,027.58.
GuruFocus considers PT Indo-Rama Synthetics Tbk to be Possible Value Trap.
Key valuation signals for ISX:INDR:
Altman Z-Score: 1.43 (11% below median its 10-year median of 1.61)
GF Value™: Rp3,027.58 vs. price of Rp1,935.00 (36.1% below fair value)
Industry Position: 42.7% below the Manufacturing - Apparel & Accessories median (#785 of 1030)
No single metric tells the full story. See the ISX:INDR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Indo-Rama Synthetics Tbk is engaged in operation of cotton spinning mill in Purwakarta. It has expanded its Spun Yarns business and diversified into manufacturing of Polyester Filament Yarns, Polyester Staple Fibers, PET Resin, Polyester Chips, and Polyester Filament Fabrics production for all markets, with manufacturing plants located in Purwakarta, and Campaka in Indonesia, and through its indirect subsidiaries, in Uzbekistan and Turkey. Its segment includes Spun yarns manufactures spun yarns and sewing thread; Polyester manufactures polyester filament yarns, polyester staple fibre, textile chips, polyester filament fabrics and pet resin; Minerals, is engaged in gold and coal mining; and Others is engaged in trading, investment, mining and other activities.
65GF Score
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