International BreweriesNSA:IBP -8.33%44 Altman Z-Score is 5.06 as of Jun. 27, 2026, which is 1707% above its 10-year median of 0.28. GuruFocus rates NSA:IBP with a GF Score™ of 44/100 and a GF Value™ of ₦2.30 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 208 Beverages - Alcoholic companies, International Breweries ranks better than 75.96% 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 5.19 is strong.
International Breweries has a Altman Z-Score of 5.06, 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 International Breweries's Altman Z-Score or its related term are showing as below:
NSA:IBP'
s Altman Z-Score Range Over the Past 10 Years
Min: -0.7 Med: 0.28 Max: 12.9
Current: 5.19
During the past 9 years, International Breweries's highest Altman Z-Score was 12.90. The lowest was -0.70. And the median was 0.28.
International Breweries (NSA:IBP) 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.
For the Beverages - Brewers subindustry, International Breweries'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.
International Breweries Altman Z-Score vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, International Breweries's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where International Breweries's Altman Z-Score falls into.
International Breweries 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.
International Breweries (NSA:IBP) has a Altman Z-Score of 5.06 as of Jun. 27, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on International Breweries and its competitors. This is 1707% above median its historical median of 0.28. According to the industry distribution chart, International Breweries ranks #50 out of 208 companies in the Beverages - Alcoholic industry, placing it in the top 24%.
Is International Breweries' Altman Z-Score too high?
International Breweries' current Altman Z-Score of 5.06 is 1707% above median its 10-year median of 0.28. The Beverages - Alcoholic industry median Altman Z-Score is 2.77. International Breweries' value of 5.06 is 82.7% above this industry median. Based on the distribution chart, International Breweries ranks #50 out of 208 companies in the Beverages - Alcoholic industry, which is in the top quartile — a strong position relative to peers. Overall, International Breweries has a GF Score™ of 44/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does International Breweries' Altman Z-Score compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, International Breweries ranks #50 out of 208 companies for Altman Z-Score. This places International Breweries in the top 24% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 2.77. International Breweries' value of 5.06 is 82.7% above this benchmark. While the company's 10-year median is 0.28 vs. the industry median of 2.77, International Breweries 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 Beverages - Alcoholic company?
The median Altman Z-Score among Beverages - Alcoholic companies is 2.77, based on 208 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. International Breweries's current Altman Z-Score of 5.06 is 82.7% 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 International Breweries and its competitors. For the Beverages - Alcoholic industry, the median Altman Z-Score is 2.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. International Breweries's current Altman Z-Score is 5.06, which is 1707% above median its own 10-year median of 0.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is International Breweries stock overvalued right now?
Based on GuruFocus' analysis, International Breweries (NSA:IBP) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦2.30, compared to a current price of ₦10.45 — trading 354.3% above its estimated fair value. The current Altman Z-Score is 5.06, which is 1707% above median its 10-year median of 0.28 and 82.7% above the Beverages - Alcoholic industry median of 2.77. International Breweries' overall GF Score™ is 44/100 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 International Breweries (NSA:IBP), the current Altman Z-Score is 5.06 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.
Is International Breweries (NSA:IBP) Overvalued in 2026?
Based on GuruFocus' analysis, International Breweries stock appears to be overvalued.
The current stock price of ₦10.45 is trading 354.3% above its estimated GF Value™ of ₦2.30.
GuruFocus considers International Breweries to be Significantly Overvalued.
Key valuation signals for NSA:IBP:
Altman Z-Score: 5.06 (1707% above median its 10-year median of 0.28)
GF Value™: ₦2.30 vs. price of ₦10.45 (354.3% above fair value)
Industry Position: 82.7% above the Beverages - Alcoholic median (#50 of 208)
No single metric tells the full story. See the NSA:IBP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
International Breweries PLC engages in brewing, packaging, and marketing beer, alcoholic flavored/non-alcoholic beverages, and soft drinks in Nigeria. The company offers its products under the Trophy Lager, Trophy Black, Castle Milk Stout, Castle Lager, Redds, Hero, Grand Malt, Betamalt malt drink, and Voltic Water brands.
44GF Score
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