Macnica HoldingsMCNCF 88 Altman Z-Score is 3.68 as of Jul. 12, 2026, which is 4% above its 10-year median of 3.55. GuruFocus rates MCNCF with a GF Score™ of 88/100 and a GF Value™ of $2.80. The stock has 8 warning signs investors should review. Among 2,464 Hardware companies, Macnica Holdings ranks better than 50.28% 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.
Good Sign:
Altman Z-score of 3.61 is strong.
Macnica Holdings has a Altman Z-Score of 3.68, 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.
The historical rank and industry rank for Macnica Holdings's Altman Z-Score or its related term are showing as below:
MCNCF'
s Altman Z-Score Range Over the Past 10 Years
Min: 3.08 Med: 3.55 Max: 4.1
Current: 3.61
During the past 11 years, Macnica Holdings's highest Altman Z-Score was 4.10. The lowest was 3.08. And the median was 3.55.
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.
Macnica Holdings Altman Z-Score Related Terms
Macnica Holdings Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Macnica Holdings'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.
For the Electronics & Computer Distribution subindustry, Macnica Holdings'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.
Macnica Holdings Altman Z-Score vs Hardware Industry
For the Hardware industry and Technology sector, Macnica Holdings's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Macnica Holdings'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.
Macnica Holdings'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
*
0.3685
+
1.4
*
0.282
+
3.3
*
0.0607
+
0.6
*
1.3849
+
1.0
*
1.8105
=
3.68
* 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.
Macnica Holdings (MCNCF) has a Altman Z-Score of 3.68 as of Jul. 12, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Macnica Holdings and its competitors. This is near median its historical median of 3.55. Over the past decade, Macnica Holdings' Altman Z-Score has ranged from 3.08 to 4.10. According to the industry distribution chart, Macnica Holdings ranks #1225 out of 2464 companies in the Hardware industry, placing it in the top 49.7%.
Is Macnica Holdings' Altman Z-Score too high?
Macnica Holdings' current Altman Z-Score of 3.68 is near median its 10-year median of 3.55. Over the past 10 years, this metric has ranged from a low of 3.08 to a high of 4.10. The Hardware industry median Altman Z-Score is 3.60. Macnica Holdings' value of 3.68 is 2.4% above this industry median. Based on the distribution chart, Macnica Holdings ranks #1225 out of 2464 companies in the Hardware industry, which is above the industry midpoint. Overall, Macnica Holdings has a GF Score™ of 88/100, reflecting its overall financial health beyond just this single metric.
How does Macnica Holdings' Altman Z-Score compare to SNX and ARW?
According to the Hardware industry distribution chart, Macnica Holdings ranks #1225 out of 2464 companies for Altman Z-Score. This puts Macnica Holdings in the upper half of its industry. The industry median Altman Z-Score is 3.60. Macnica Holdings' value of 3.68 is 2.4% above this benchmark. Historically, Macnica Holdings' own Altman Z-Score has ranged from 3.08 to 4.10 over the past decade. While the company's 10-year median is 3.55 vs. the industry median of 3.60, Macnica Holdings 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 Hardware company?
The median Altman Z-Score among Hardware companies is 3.60, based on 2,464 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. Macnica Holdings's current Altman Z-Score of 3.68 is 2.4% 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 Macnica Holdings and its competitors. For the Hardware industry, the median Altman Z-Score is 3.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Macnica Holdings's current Altman Z-Score is 3.68, which is near median its own 10-year median of 3.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Macnica Holdings stock overvalued right now?
Macnica Holdings (MCNCF) has a current Altman Z-Score of 3.68. The stock's GF Value™ is $2.80, compared to a current price of $3.58 — trading 28% above its estimated fair value. The current Altman Z-Score is 3.68, which is near median its 10-year median of 3.55 and 2.4% above the Hardware industry median of 3.60. Macnica Holdings' overall GF Score™ is 88/100 with 8 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 Macnica Holdings (MCNCF), the current Altman Z-Score is 3.68 as of Jul. 12, 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 Macnica Holdings (MCNCF) Overvalued in 2026?
Based on GuruFocus' analysis, Macnica Holdings stock appears to be overvalued.
The current stock price of $3.58 is trading 28% above its estimated GF Value™ of $2.80.
Key valuation signals for MCNCF:
Altman Z-Score: 3.68 (near median its 10-year median of 3.55)
GF Value™: $2.80 vs. price of $3.58 (28% above fair value)
Industry Position: 2.4% above the Hardware median (#1225 of 2464)
No single metric tells the full story. See the MCNCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Macnica Holdings Inc is an independent electronics distribution company in Japan. The company imports, exports, and distributes electronic components such as semiconductor devices and Integrated Circuit (IC), and business accompanying or pertaining to such activities. Its business segments are the Integrated Circuit, Electronic Devices, and Other Business, and the Network Business. The IC, Electronic Devices, and Other Business handles the sales of products such as ICs and electronic devices, and the Network Business is responsible for the sales of network-related hardware, software, and services.
88GF Score
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