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Atlas Air Worldwide Holdings Altman Z-Score

: 2.05 (As of Today)
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Warning Sign:

Altman Z-score of 2.05 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.

Atlas Air Worldwide Holdings has a Altman Z-Score of 2.05, indicating it is in Grey Zones. This implies that Atlas Air Worldwide Holdings 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 Atlas Air Worldwide Holdings's Altman Z-Score or its related term are showing as below:

AAWW' s Altman Z-Score Range Over the Past 10 Years
Min: -0.68   Med: 1.56   Max: 3.22
Current: 2.05

During the past 13 years, Atlas Air Worldwide Holdings's highest Altman Z-Score was 3.22. The lowest was -0.68. And the median was 1.56.


Atlas Air Worldwide Holdings Altman Z-Score Historical Data

The historical data trend for Atlas Air Worldwide 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.

* Premium members only.

Atlas Air Worldwide Holdings Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Altman Z-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.20 1.27 0.63 1.49 1.90

Atlas Air Worldwide Holdings Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Altman Z-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.68 1.77 1.90 1.90 1.86

Competitive Comparison

For the Airports & Air Services subindustry, Atlas Air Worldwide 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.

   

Atlas Air Worldwide Holdings Altman Z-Score Distribution

For the Transportation industry and Industrials sector, Atlas Air Worldwide Holdings's Altman Z-Score distribution charts can be found below:

* The bar in red indicates where Atlas Air Worldwide Holdings's Altman Z-Score falls into.



Atlas Air Worldwide Holdings 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.

Atlas Air Worldwide 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*-0.0248+1.4*0.3713+3.3*0.1098+0.6*0.8254+1.0*0.6979
=2.05

* 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 Jun. 2022:
Total Assets was $6,299 Mil.
Total Current Assets was $993 Mil.
Total Current Liabilities was $1,149 Mil.
Retained Earnings was $2,339 Mil.
Pre-Tax Income was 114.908 + 105.595 + 233.446 + 156.118 = $610 Mil.
Interest Expense was -16.585 + -16.659 + -23.287 + -24.838 = $-81 Mil.
Revenue was 1179.971 + 1037.156 + 1162.997 + 1016.1 = $4,396 Mil.
Market Cap (Today) was $2,835 Mil.
Total Liabilities was $3,434 Mil.

* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.

X1=Working Capital/Total Assets
=(Total Current Assets - Total Current Liabilities)/Total Assets
=(993.018 - 1149.002)/6299.008
=-0.0248

X2=Retained Earnings/Total Assets
=2338.76/6299.008
=0.3713

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(610.067 - -81.369)/6299.008
=0.1098

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=2834.647/3434.442
=0.8254

X5=Revenue/Total Assets
=4396.224/6299.008
=0.6979

The zones of discrimination were as such:

Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones

Atlas Air Worldwide Holdings has a Altman Z-Score of 2.05 indicating it is in Grey Zones.

Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.


Atlas Air Worldwide Holdings  (NAS:AAWW) 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.

Read more about Altman Z-Score and the original research.


Be Aware

Altman Z-Score does not apply to financial companies.


Atlas Air Worldwide Holdings Altman Z-Score Related Terms

Thank you for viewing the detailed overview of Atlas Air Worldwide Holdings's Altman Z-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Atlas Air Worldwide Holdings Business Description

Atlas Air Worldwide Holdings logo
Traded in Other Exchanges
Address
2000 Westchester Avenue, Purchase, NY, USA, 10577-2543
Atlas Air Worldwide Holdings Inc, together with its subsidiaries, is a leading global provider of outsourced aircraft and aviation operating services. The company owns a fleet of freighters and passenger aircraft and leases additional aircraft and engines to expand its portfolio. It gives customers access to new production aircraft and offers crew, maintenance, and insurance services. In addition, the company operates a charter division to provide air cargo and passenger aircraft charters. Atlas Air customers include airlines, express delivery providers, freight forwarders, the U.S. military, and charter brokers. It provides global services to regions in Africa, Asia, Australia, Europe, the Middle East, and the Americas.
Executives
Borst Walter G director 2701 NAVISTAR DRIVE LISLE IL 60532
Conner Raymond L. director ALASKA AIR GROUP, INC. 19300 INTERNATIONAL BLVD SEATTLE WA 98188
Willis George director 55 GLENLAKE PARKWAY, NE ATLANTA GA 30328
Zierhoffer Carol J director 100 NORTH POINT CENTER EAST SUITE 200 ALPHARETTA GA 30022
Goulet, Beverly K. director 10990 ROE AVENUE OVERLAND PARK KS 66211
Forbes James Anthony officer: EVP & COO C/O ATLAS AIR WORLDWIDE HOLDINGS, INC. 2000 WESTCHESTER AVENUE PURCHASE NY 10577
Stamps Sheila A director C/O CIT GROUP, 1 CIT DRIVE ATTN: GENERAL COUNSEL LIVINGSTON NJ 07039
Lute Jane H director 4404 33RD ROAD NORTH ARLINGTON VA 22207
Bolden Charles F Jr director MARATHON OIL CORP 5555 SAN FELIPE ROAD HOUSTON TX 77056
Griffin Bobby J director C/O UNITED RENTALS, INC. 100 FIRST STAMFORD PL STE 700 STAMFORD CT 06902
Wulff John K director C/O HERCULES INC 1313 NORTH MARKET STREET WILMINGTON DE 19894-0001
Mcnabb Duncan J. director C/O ATLAS AIR WORLDWIDE HOLDINGS, INC. 2000 WESTCHESTER AVENUE PURCHASE NY 10577
Mayer Keith H. officer: Vice President & Controller ATLAS AIR WORLDWIDE HOLDINGS, INC. 2000 WESTCHESTER AVENUE PURCHASE NY 10577
Harbinger Capital Partners Llc 10 percent owner, other: *See Remarks 450 PARK AVENUE, 30TH FLOOR NEW YORK NY 10022
Harbinger Holdings, Llc 10 percent owner, other: *See Remarks 450 PARK AVENUE, 30TH FLOOR NEW YORK NY 10022

Atlas Air Worldwide Holdings Headlines

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