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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.
PJSC Mining & Metallurgical Co Norilsk Nickel has a Altman Z-Score of 2.50, indicating it is in Grey Zones. This implies that PJSC Mining & Metallurgical Co Norilsk Nickel 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.
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.
PJSC Mining & Metallurgical Co Norilsk Nickel Altman Z-Score Chart
PJSC Mining & Metallurgical Co Norilsk Nickel Annual Data
For the Other Industrial Metals & Mining subindustry, PJSC Mining & Metallurgical Co Norilsk Nickel'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.
PJSC Mining & Metallurgical Co Norilsk Nickel Altman Z-Score vs Metals & Mining Industry
PJSC Mining & Metallurgical Co Norilsk Nickel 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.
PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN) has a Altman Z-Score of 2.50 as of Jul. 30, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on PJSC Mining & Metallurgical Co Norilsk Nickel and its competitors.
Is PJSC Mining & Metallurgical Co Norilsk Nickel's Altman Z-Score too high?
PJSC Mining & Metallurgical Co Norilsk Nickel's current Altman Z-Score is 2.50. The Metals & Mining industry median Altman Z-Score is 3.19. PJSC Mining & Metallurgical Co Norilsk Nickel's value of 2.50 is 21.6% below this industry median. Overall, PJSC Mining & Metallurgical Co Norilsk Nickel has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does PJSC Mining & Metallurgical Co Norilsk Nickel's Altman Z-Score compare to competitors?
PJSC Mining & Metallurgical Co Norilsk Nickel's Altman Z-Score of 2.50 can be compared against companies in the Metals & Mining industry. The industry median Altman Z-Score is 3.19. PJSC Mining & Metallurgical Co Norilsk Nickel's value of 2.50 is 21.6% below this benchmark. 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 Metals & Mining company?
The median Altman Z-Score among Metals & Mining companies is 3.19, based on 782 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. PJSC Mining & Metallurgical Co Norilsk Nickel's current Altman Z-Score of 2.50 is 21.6% 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 PJSC Mining & Metallurgical Co Norilsk Nickel and its competitors. For the Metals & Mining industry, the median Altman Z-Score is 3.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PJSC Mining & Metallurgical Co Norilsk Nickel's current Altman Z-Score is 2.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PJSC Mining & Metallurgical Co Norilsk Nickel stock overvalued right now?
PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN) has a current Altman Z-Score of 2.50. The current Altman Z-Score is 2.50 and 21.6% below the Metals & Mining industry median of 3.19. PJSC Mining & Metallurgical Co Norilsk Nickel's overall GF Score™ is 17/100. 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 PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN), the current Altman Z-Score is 2.50 as of Jul. 30, 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.
PJSC Mining & Metallurgical Co Norilsk Nickel Business Description
PJSC Mining & Metallurgical Co Norilsk Nickel is a metal and mining company engaged in activities such as exploration, extraction, refining of ore and nonmetallic minerals, and sale of base and precious minerals. The company is organized into seven operating business segments: GMK Group, South Cluster, KGMK Group, NN Harjavalta, GRK Bystrinskoye, other mining, and other nonmetallurgical. The majority of the company's revenue is derived from the GMK Group segment which includes mining, processing and other metallurgy operations, and sale of precious metals. More than half the company's consolidated revenue is earned from the sale of metals to customers in Europe.
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