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Icelandair Group hfLTS:0ERU 51 Altman Z-Score is 0.70 as of Jul. 15, 2026, which is 23% below its 10-year median of 0.91. GuruFocus rates LTS:0ERU with a GF Score™ of 51/100 and a GF Value™ of kr10.40. The stock has 2 warning signs investors should review. Among 995 Transportation companies, Icelandair Group hf ranks worse than 86.93% 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 0.7 is in distress zone. This implies bankruptcy possibility in the next two years.
Icelandair Group hf has a Altman Z-Score of 0.70, 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 Icelandair Group hf's Altman Z-Score or its related term are showing as below:
LTS:0ERU'
s Altman Z-Score Range Over the Past 10 Years
Min: -0.77 Med: 0.91 Max: 2.63
Current: 0.7
During the past 13 years, Icelandair Group hf's highest Altman Z-Score was 2.63. The lowest was -0.77. And the median was 0.91.
Icelandair Group hf (LTS:0ERU) 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.
Icelandair Group hf Altman Z-Score Related Terms
Icelandair Group hf Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Icelandair Group hf'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.
LTS:0ERU vs DAL, UAL, LUV: Altman Z-Score Comparison
For the Airlines subindustry, Icelandair Group hf'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.
Icelandair Group hf Altman Z-Score vs Transportation Industry
For the Transportation industry and Industrials sector, Icelandair Group hf's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Icelandair Group hf'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.
Icelandair Group hf'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
*
-0.1002
+
1.4
*
-0.065
+
3.3
*
0.0139
+
0.6
*
0.1238
+
1.0
*
0.7909
=
0.70
* 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.
Icelandair Group hf (LTS:0ERU) has a Altman Z-Score of 0.70 as of Jul. 15, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Icelandair Group hf and its competitors. This is 23% below median its historical median of 0.91. According to the industry distribution chart, Icelandair Group hf ranks #865 out of 995 companies in the Transportation industry, placing it in the top 86.9%.
Is Icelandair Group hf's Altman Z-Score too high?
Icelandair Group hf's current Altman Z-Score of 0.70 is 23% below median its 10-year median of 0.91. The Transportation industry median Altman Z-Score is 2.27. Icelandair Group hf's value of 0.70 is 69.2% below this industry median. Based on the distribution chart, Icelandair Group hf ranks #865 out of 995 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Icelandair Group hf has a GF Score™ of 51/100, reflecting its overall financial health beyond just this single metric.
How does Icelandair Group hf's Altman Z-Score compare to DAL and UAL?
According to the Transportation industry distribution chart, Icelandair Group hf ranks #865 out of 995 companies for Altman Z-Score. This places Icelandair Group hf in the lower half of its industry. The industry median Altman Z-Score is 2.27. Icelandair Group hf's value of 0.70 is 69.2% below this benchmark. While the company's 10-year median is 0.91 vs. the industry median of 2.27, Icelandair Group hf 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 Transportation company?
The median Altman Z-Score among Transportation companies is 2.27, based on 995 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. Icelandair Group hf's current Altman Z-Score of 0.70 is 69.2% 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 Icelandair Group hf and its competitors. For the Transportation industry, the median Altman Z-Score is 2.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Icelandair Group hf's current Altman Z-Score is 0.70, which is 23% below median its own 10-year median of 0.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Icelandair Group hf stock overvalued right now?
Icelandair Group hf (LTS:0ERU) has a current Altman Z-Score of 0.70. The stock's GF Value™ is kr10.40, compared to a current price of kr5.87 — trading 43.6% below its estimated fair value. The current Altman Z-Score is 0.70, which is 23% below median its 10-year median of 0.91 and 69.2% below the Transportation industry median of 2.27. Icelandair Group hf's overall GF Score™ is 51/100 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 Icelandair Group hf (LTS:0ERU), the current Altman Z-Score is 0.70 as of Jul. 15, 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 Icelandair Group hf (LTS:0ERU) Overvalued in 2026?
Based on GuruFocus' analysis, Icelandair Group hf stock appears to be undervalued.
The current stock price of kr5.87 is trading 43.6% below its estimated GF Value™ of kr10.40.
Key valuation signals for LTS:0ERU:
Altman Z-Score: 0.70 (23% below median its 10-year median of 0.91)
GF Value™: kr10.40 vs. price of kr5.87 (43.6% below fair value)
Industry Position: 69.2% below the Transportation median (#865 of 995)
No single metric tells the full story. See the LTS:0ERU stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Icelandair Group hf operates in the international airline sector. Its segment is the Route network, which generates maximum revenue and provides passenger air travel to, from, via, and within Iceland. The Cargo operation offers air-freight services to, from, via, and within Iceland by utilizing capacity within the aircraft of the Icelandair passenger network as well as its own freighter and The Leasing operation, provided by Loftleioir-Icelandic ehf., offers aircraft leasing and consulting services to international passenger airlines and tour operators. The Group operates in North America, which generates maximum revenue, as well as Europe, Iceland, and other regions.
51GF Score
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