Frog InnovationsNSE:FROG -0.30%70 Altman Z-Score is 5.13 as of Jun. 30, 2026, which is 27% below its 10-year median of 7.02. GuruFocus rates NSE:FROG with a GF Score™ of 70/100 and a GF Value™ of ₹344.02 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 2,459 Hardware companies, Frog Innovations ranks better than 65.11% 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 5.13 is strong.
Frog Innovations has a Altman Z-Score of 5.13, 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 Frog Innovations's Altman Z-Score or its related term are showing as below:
NSE:FROG'
s Altman Z-Score Range Over the Past 10 Years
Min: 5.13 Med: 7.02 Max: 8.94
Current: 5.13
During the past 6 years, Frog Innovations's highest Altman Z-Score was 8.94. The lowest was 5.13. And the median was 7.02.
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.
Altman Z-Score does not apply to financial companies.
Frog Innovations Altman Z-Score Related Terms
Frog Innovations Altman Z-Score Historical Data
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The historical data trend for Frog Innovations'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.
NSE:FROG vs CSCO, CIEN, MSI: Altman Z-Score Comparison
For the Communication Equipment subindustry, Frog Innovations'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.
Frog Innovations Altman Z-Score vs Hardware Industry
For the Hardware industry and Technology sector, Frog Innovations's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Frog Innovations's Altman Z-Score falls into.
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.
Frog Innovations'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
*
0.327
+
1.4
*
0.4654
+
3.3
*
0.154
+
0.6
*
4.3381
+
1.0
*
0.9717
=
5.13
* 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.
Frog Innovations (NSE:FROG) has a Altman Z-Score of 5.13 as of Jun. 30, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Frog Innovations and its competitors. This is 27% below median its historical median of 7.02. Over the past decade, Frog Innovations' Altman Z-Score has ranged from 5.13 to 8.94. According to the industry distribution chart, Frog Innovations ranks #858 out of 2459 companies in the Hardware industry, placing it in the top 34.9%.
Is Frog Innovations' Altman Z-Score too high?
Frog Innovations' current Altman Z-Score of 5.13 is 27% below median its 10-year median of 7.02. Over the past 10 years, this metric has ranged from a low of 5.13 to a high of 8.94. The Hardware industry median Altman Z-Score is 3.60. Frog Innovations' value of 5.13 is 42.5% above this industry median. Based on the distribution chart, Frog Innovations ranks #858 out of 2459 companies in the Hardware industry, which is above the industry midpoint. Overall, Frog Innovations has a GF Score™ of 70/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Frog Innovations' Altman Z-Score compare to CSCO and CIEN?
According to the Hardware industry distribution chart, Frog Innovations ranks #858 out of 2459 companies for Altman Z-Score. This puts Frog Innovations in the upper half of its industry. The industry median Altman Z-Score is 3.60. Frog Innovations' value of 5.13 is 42.5% above this benchmark. Historically, Frog Innovations' own Altman Z-Score has ranged from 5.13 to 8.94 over the past decade. While the company's 10-year median is 7.02 vs. the industry median of 3.60, Frog Innovations 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 Hardware company?
The median Altman Z-Score among Hardware companies is 3.60, based on 2,459 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. Frog Innovations's current Altman Z-Score of 5.13 is 42.5% 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 Frog Innovations and its competitors. For the Hardware industry, the median Altman Z-Score is 3.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Frog Innovations's current Altman Z-Score is 5.13, which is 27% below median its own 10-year median of 7.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Frog Innovations stock overvalued right now?
Based on GuruFocus' analysis, Frog Innovations (NSE:FROG) is currently considered Possible Value Trap. The stock's GF Value™ is ₹344.02, compared to a current price of ₹167.55 — trading 51.3% below its estimated fair value. The current Altman Z-Score is 5.13, which is 27% below median its 10-year median of 7.02 and 42.5% above the Hardware industry median of 3.60. Frog Innovations' overall GF Score™ is 70/100 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 Frog Innovations (NSE:FROG), the current Altman Z-Score is 5.13 as of Jun. 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.
Is Frog Innovations (NSE:FROG) Overvalued in 2026?
Based on GuruFocus' analysis, Frog Innovations stock appears to be undervalued.
The current stock price of ₹167.55 is trading 51.3% below its estimated GF Value™ of ₹344.02.
GuruFocus considers Frog Innovations to be Possible Value Trap.
Key valuation signals for NSE:FROG:
Altman Z-Score: 5.13 (27% below median its 10-year median of 7.02)
GF Value™: ₹344.02 vs. price of ₹167.55 (51.3% below fair value)
Industry Position: 42.5% above the Hardware median (#858 of 2459)
No single metric tells the full story. See the NSE:FROG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Frog Innovations Ltd is a company engaged in manufacturing telecom equipment used by telecom operators, especially in Telecom Towers. The company manufactures 2G/3G/4G/5G Multi-band Digital RF Repeaters, Multi-band Frequency Shift Repeaters, Multi-band Optical DAS systems, relative software, and accessories. The company also offers In-Building Coverage Planning and Design services along with Radio Access Network (RAN) and Backhaul Network installation services. The company collectively operates only in one business segment manufacturing and installation of in-building coverage solutions and mobile network accessories for mobile service providers and operators. It provides its products and services across Asia, Europe, Africa, and the Middle East.
70GF Score
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