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 4.73 is strong.
EmbeddedArt Group AB (publ) has a Altman Z-Score of 4.94, 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.
The historical rank and industry rank for EmbeddedArt Group AB (publ)'s Altman Z-Score or its related term are showing as below:
NGM:EMART'
s Altman Z-Score Range Over the Past 10 Years
Min: -18.03 Med: -0.92 Max: 23.83
Current: 4.73
During the past 13 years, EmbeddedArt Group AB (publ)'s highest Altman Z-Score was 23.83. The lowest was -18.03. And the median was -0.92.
EmbeddedArt Group AB (publ) (NGM:EMART) 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.
NGM:EMART vs COHR, KEYS, GRMN: Altman Z-Score Comparison
For the Scientific & Technical Instruments subindustry, EmbeddedArt Group 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.
EmbeddedArt Group AB (publ) Altman Z-Score vs Hardware Industry
For the Hardware industry and Technology sector, EmbeddedArt Group AB (publ)'s Altman Z-Score distribution charts can be found below:
* The bar in red indicates where EmbeddedArt Group AB (publ)'s Altman Z-Score falls into.
EmbeddedArt Group 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.
EmbeddedArt Group AB (publ) (NGM:EMART) has a Altman Z-Score of 4.94 as of Jun. 27, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on EmbeddedArt Group AB (publ) and its competitors. According to the industry distribution chart, EmbeddedArt Group AB (publ) ranks #954 out of 2456 companies in the Hardware industry, placing it in the top 38.8%.
Is EmbeddedArt Group AB (publ)'s Altman Z-Score too high?
EmbeddedArt Group AB (publ)'s current Altman Z-Score is 4.94. The Hardware industry median Altman Z-Score is 3.69. EmbeddedArt Group AB (publ)'s value of 4.94 is 33.9% above this industry median. Based on the distribution chart, EmbeddedArt Group AB (publ) ranks #954 out of 2456 companies in the Hardware industry, which is above the industry midpoint. Overall, EmbeddedArt Group AB (publ) has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does EmbeddedArt Group AB (publ)'s Altman Z-Score compare to COHR and KEYS?
According to the Hardware industry distribution chart, EmbeddedArt Group AB (publ) ranks #954 out of 2456 companies for Altman Z-Score. This puts EmbeddedArt Group AB (publ) in the upper half of its industry. The industry median Altman Z-Score is 3.69. EmbeddedArt Group AB (publ)'s value of 4.94 is 33.9% above 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 Hardware company?
The median Altman Z-Score among Hardware companies is 3.69, based on 2,456 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. EmbeddedArt Group AB (publ)'s current Altman Z-Score of 4.94 is 33.9% 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 EmbeddedArt Group AB (publ) and its competitors. For the Hardware industry, the median Altman Z-Score is 3.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. EmbeddedArt Group AB (publ)'s current Altman Z-Score is 4.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is EmbeddedArt Group AB (publ) stock overvalued right now?
EmbeddedArt Group AB (publ) (NGM:EMART) has a current Altman Z-Score of 4.94. The current Altman Z-Score is 4.94 and 33.9% above the Hardware industry median of 3.69. EmbeddedArt Group AB (publ)'s overall GF Score™ is 20/100 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 EmbeddedArt Group AB (publ) (NGM:EMART), the current Altman Z-Score is 4.94 as of Jun. 27, 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.
EmbeddedArt Group AB (publ) offers security solutions. The company develops, manufactures and sells alarm and surveillance systems. The products are sold under various brands and via the company's resellers, where the customers are mainly boat owners and other private individuals.
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