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 5.52 is strong.
Northern CapSek Ventures AB (publ) has a Altman Z-Score of 5.94, 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.
NGM:CAPS'
s Altman Z-Score Range Over the Past 10 Years
Min: 0.59 Med: 11.12 Max: 55.14
Current: 5.52
During the past 8 years, Northern CapSek Ventures AB (publ)'s highest Altman Z-Score was 55.14. The lowest was 0.59. And the median was 11.12.
Northern CapSek Ventures AB (publ) (NGM:CAPS) 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.
* 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.
Northern CapSek Ventures AB (publ) Altman Z-Score Chart
NGM:CAPS vs BLK, BX, KKR: Altman Z-Score Comparison
For the Asset Management subindustry, Northern CapSek Ventures AB (publ)'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.
Northern CapSek Ventures AB (publ) Altman Z-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Northern CapSek Ventures AB (publ)'s Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Northern CapSek Ventures AB (publ)'s Altman Z-Score falls into.
Northern CapSek Ventures AB (publ) 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.
Northern CapSek Ventures AB (publ) (NGM:CAPS) has a Altman Z-Score of 5.94 as of Jul. 09, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Northern CapSek Ventures AB (publ) and its competitors. This is 47% below median its historical median of 11.12. Over the past decade, Northern CapSek Ventures AB (publ)'s Altman Z-Score has ranged from 0.59 to 55.14. According to the industry distribution chart, Northern CapSek Ventures AB (publ) ranks #241 out of 650 companies in the Asset Management industry, placing it in the top 37.1%.
Is Northern CapSek Ventures AB (publ)'s Altman Z-Score too high?
Northern CapSek Ventures AB (publ)'s current Altman Z-Score of 5.94 is 47% below median its 10-year median of 11.12. Over the past 10 years, this metric has ranged from a low of 0.59 to a high of 55.14. The Asset Management industry median Altman Z-Score is 3.50. Northern CapSek Ventures AB (publ)'s value of 5.94 is 70% above this industry median. Based on the distribution chart, Northern CapSek Ventures AB (publ) ranks #241 out of 650 companies in the Asset Management industry, which is above the industry midpoint. Overall, Northern CapSek Ventures AB (publ) has a GF Score™ of 47/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Northern CapSek Ventures AB (publ)'s Altman Z-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Northern CapSek Ventures AB (publ) ranks #241 out of 650 companies for Altman Z-Score. This puts Northern CapSek Ventures AB (publ) in the upper half of its industry. The industry median Altman Z-Score is 3.50. Northern CapSek Ventures AB (publ)'s value of 5.94 is 70% above this benchmark. Historically, Northern CapSek Ventures AB (publ)'s own Altman Z-Score has ranged from 0.59 to 55.14 over the past decade. While the company's 10-year median is 11.12 vs. the industry median of 3.50, Northern CapSek Ventures AB (publ) 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 an Asset Management company?
The median Altman Z-Score among Asset Management companies is 3.50, based on 650 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. Northern CapSek Ventures AB (publ)'s current Altman Z-Score of 5.94 is 70% 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 Northern CapSek Ventures AB (publ) and its competitors. For the Asset Management industry, the median Altman Z-Score is 3.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northern CapSek Ventures AB (publ)'s current Altman Z-Score is 5.94, which is 47% below median its own 10-year median of 11.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northern CapSek Ventures AB (publ) stock overvalued right now?
Based on GuruFocus' analysis, Northern CapSek Ventures AB (publ) (NGM:CAPS) is currently considered Possible Value Trap. The stock's GF Value™ is kr29.13, compared to a current price of kr7.00 — trading 76% below its estimated fair value. The current Altman Z-Score is 5.94, which is 47% below median its 10-year median of 11.12 and 70% above the Asset Management industry median of 3.50. Northern CapSek Ventures AB (publ)'s overall GF Score™ is 47/100 with 3 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 Northern CapSek Ventures AB (publ) (NGM:CAPS), the current Altman Z-Score is 5.94 as of Jul. 09, 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 Northern CapSek Ventures AB (publ) (NGM:CAPS) Overvalued in 2026?
Based on GuruFocus' analysis, Northern CapSek Ventures AB (publ) stock appears to be undervalued.
The current stock price of kr7.00 is trading 76% below its estimated GF Value™ of kr29.13.
GuruFocus considers Northern CapSek Ventures AB (publ) to be Possible Value Trap.
Key valuation signals for NGM:CAPS:
Altman Z-Score: 5.94 (47% below median its 10-year median of 11.12)
GF Value™: kr29.13 vs. price of kr7.00 (76% below fair value)
Industry Position: 70% above the Asset Management median (#241 of 650)
No single metric tells the full story. See the NGM:CAPS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northern CapSek Ventures AB (publ) Business Description
Northern CapSek Ventures AB (publ) is an investment company. The firm invests in growth companies with scalable business models and specializes in sectors driving digital transformation, including Software as a Service (SaaS), Internet of Things (IoT), AI/Machine Learning, and gaming.
47GF Score
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