Pioneer CementKAR:PIOC 84 Altman Z-Score is 2.29 as of Jun. 27, 2026, which is 72% above its 10-year median of 1.33. GuruFocus rates KAR:PIOC with a GF Score™ of 84/100 and a GF Value™ of ₨134.39 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 403 Building Materials companies, Pioneer Cement ranks better than 51.36% 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 2.3 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.
Pioneer Cement has a Altman Z-Score of 2.29, indicating it is in Grey Zones. This implies that Pioneer Cement 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.
The historical rank and industry rank for Pioneer Cement's Altman Z-Score or its related term are showing as below:
KAR:PIOC'
s Altman Z-Score Range Over the Past 10 Years
Min: 0.26 Med: 1.33 Max: 5.78
Current: 2.3
During the past 13 years, Pioneer Cement's highest Altman Z-Score was 5.78. The lowest was 0.26. And the median was 1.33.
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.
Pioneer Cement Altman Z-Score Related Terms
Pioneer Cement Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Pioneer Cement'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.
KAR:PIOC vs CRH, VMC, MLM: Altman Z-Score Comparison
For the Building Materials subindustry, Pioneer Cement'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.
Pioneer Cement Altman Z-Score vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Pioneer Cement's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Pioneer Cement'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.
Pioneer Cement'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
*
0.0245
+
1.4
*
0.3095
+
3.3
*
0.1171
+
0.6
*
1.6853
+
1.0
*
0.4277
=
2.29
* 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.
Pioneer Cement (KAR:PIOC) has a Altman Z-Score of 2.29 as of Jun. 27, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Pioneer Cement and its competitors. This is 72% above median its historical median of 1.33. Over the past decade, Pioneer Cement's Altman Z-Score has ranged from 0.26 to 5.78. According to the industry distribution chart, Pioneer Cement ranks #196 out of 403 companies in the Building Materials industry, placing it in the top 48.6%.
Is Pioneer Cement's Altman Z-Score too high?
Pioneer Cement's current Altman Z-Score of 2.29 is 72% above median its 10-year median of 1.33. Over the past 10 years, this metric has ranged from a low of 0.26 to a high of 5.78. The Building Materials industry median Altman Z-Score is 2.26. Pioneer Cement's value of 2.29 is 1.3% above this industry median. Based on the distribution chart, Pioneer Cement ranks #196 out of 403 companies in the Building Materials industry, which is above the industry midpoint. Overall, Pioneer Cement has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pioneer Cement's Altman Z-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, Pioneer Cement ranks #196 out of 403 companies for Altman Z-Score. This puts Pioneer Cement in the upper half of its industry. The industry median Altman Z-Score is 2.26. Pioneer Cement's value of 2.29 is 1.3% above this benchmark. Historically, Pioneer Cement's own Altman Z-Score has ranged from 0.26 to 5.78 over the past decade. While the company's 10-year median is 1.33 vs. the industry median of 2.26, Pioneer Cement 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 Building Materials company?
The median Altman Z-Score among Building Materials companies is 2.26, based on 403 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. Pioneer Cement's current Altman Z-Score of 2.29 is 1.3% 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 Pioneer Cement and its competitors. For the Building Materials industry, the median Altman Z-Score is 2.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pioneer Cement's current Altman Z-Score is 2.29, which is 72% above median its own 10-year median of 1.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pioneer Cement stock overvalued right now?
Based on GuruFocus' analysis, Pioneer Cement (KAR:PIOC) is currently considered Significantly Overvalued. The stock's GF Value™ is ₨134.39, compared to a current price of ₨273.85 — trading 103.8% above its estimated fair value. The current Altman Z-Score is 2.29, which is 72% above median its 10-year median of 1.33 and 1.3% above the Building Materials industry median of 2.26. Pioneer Cement's overall GF Score™ is 84/100 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 Pioneer Cement (KAR:PIOC), the current Altman Z-Score is 2.29 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 Pioneer Cement (KAR:PIOC) Overvalued in 2026?
Based on GuruFocus' analysis, Pioneer Cement stock appears to be overvalued.
The current stock price of ₨273.85 is trading 103.8% above its estimated GF Value™ of ₨134.39.
GuruFocus considers Pioneer Cement to be Significantly Overvalued.
Key valuation signals for KAR:PIOC:
Altman Z-Score: 2.29 (72% above median its 10-year median of 1.33)
GF Value™: ₨134.39 vs. price of ₨273.85 (103.8% above fair value)
Industry Position: 1.3% above the Building Materials median (#196 of 403)
No single metric tells the full story. See the KAR:PIOC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pioneer Cement Ltd is a cement producer. The company's production facility is situated at Chenki, District Khushab in Punjab Province. The product range consists of Ordinary Portland Cement and Sulphate Resistant Cement. Its Ordinary Portland Cement is used for all structural work including all kinds of concrete construction and Sulphate Resistant Cement is used where sulfate salts are present in the soil or in saline water. Geographically, the company operates within Pakistan and Afghanistan and generates a majority of its revenue from Pakistan.
84GF Score
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