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Tanger Factory Outlet Centers Altman Z-Score

: 0.82 (As of Today)
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Warning Sign:

Altman Z-score of 0.83 is in distress zone. This implies bankruptcy possibility in the next two years.

Tanger Factory Outlet Centers has a Altman Z-Score of 0.82, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.

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 Tanger Factory Outlet Centers's Altman Z-Score or its related term are showing as below:

SKT' s Altman Z-Score Range Over the Past 10 Years
Min: -0.17   Med: 0.82   Max: 2.97
Current: 0.83

During the past 13 years, Tanger Factory Outlet Centers's highest Altman Z-Score was 2.97. The lowest was -0.17. And the median was 0.82.


Tanger Factory Outlet Centers Altman Z-Score Historical Data

The historical data trend for Tanger Factory Outlet Centers'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.

Tanger Factory Outlet Centers 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 0.96 0.75 0.71 0.31 0.80

Tanger Factory Outlet Centers 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 0.82 0.65 0.80 0.79 0.69

Competitive Comparison

For the REIT - Retail subindustry, Tanger Factory Outlet Centers'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.

   

Tanger Factory Outlet Centers Altman Z-Score Distribution

For the REITs industry and Real Estate sector, Tanger Factory Outlet Centers's Altman Z-Score distribution charts can be found below:

* The bar in red indicates where Tanger Factory Outlet Centers's Altman Z-Score falls into.



Tanger Factory Outlet Centers 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.

Tanger Factory Outlet Centers'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*0.0991+1.4*-0.2242+3.3*0.0433+0.6*1.1183+1.0*0.2038
=0.82

* 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 $2,155.2 Mil.
Total Current Assets was $290.2 Mil.
Total Current Liabilities was $76.5 Mil.
Retained Earnings was $-483.2 Mil.
Pre-Tax Income was 20.819 + 21.462 + 13.691 + -11.071 = $44.9 Mil.
Interest Expense was -11.576 + -11.634 + -11.884 + -13.282 = $-48.4 Mil.
Revenue was 105.838 + 108.868 + 112.093 + 112.465 = $439.3 Mil.
Market Cap (Today) was $1,836.9 Mil.
Total Liabilities was $1,642.7 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
=(290.176 - 76.512)/2155.245
=0.0991

X2=Retained Earnings/Total Assets
=-483.241/2155.245
=-0.2242

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(44.901 - -48.376)/2155.245
=0.0433

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=1836.939/1642.67
=1.1183

X5=Revenue/Total Assets
=439.264/2155.245
=0.2038

The zones of discrimination were as such:

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

Tanger Factory Outlet Centers has a Altman Z-Score of 0.82 indicating it is in Distress Zones.

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


Tanger Factory Outlet Centers  (NYSE:SKT) 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.


Tanger Factory Outlet Centers Altman Z-Score Related Terms

Thank you for viewing the detailed overview of Tanger Factory Outlet Centers's Altman Z-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Tanger Factory Outlet Centers Business Description

Tanger Factory Outlet Centers logo
Traded in Other Exchanges
Address
3200 Northline Avenue, Suite 360, Greensboro, NC, USA, 27408
Tanger Factory Outlet Centers Inc is the owner and operator of outlet centers in the United States and Canada. It is a fully-integrated, self-administered and self-managed REIT, which focuses on developing, acquiring, owning, operating and managing outlet shopping centers. The company operates approximately 30 outlet centers, with a total gross leasable area of approximately 11.5 million square feet, which holds over 2,200 stores with hundreds of store brands. Substantially most of the firm's revenue is derived from rental income from real property. Geographically, the activities are carried out through the United States.
Executives
Stein Justin C officer: EVP, Leasing 3200 NORTHLINE AVE. SUITE 360 GREENSBORO NC 27408
Wingrove Andrew R officer: EVP, Chief Commercial Officer 3200 NORTHLINE AVE., SUITE 360 GREENSBORO NC 27408
Mathrani Sandeep director
Swanson Gallardo Leslie officer: Executive VP Operations 3200 NORTHLINE AVE. SUITE 360 GREENSBORO NC 27408
Yalof Stephen officer: President & COO 3200 NORTHLINE AVE., SUITE 360 GREENSBORO NC 27408
Ubinas Luis A director 209 REDWOOD SHORES PARKWAY REDWOOD CITY CA 94065-1175
Skerritt Susan E director 3200 NORTHLINE AVE SUITE 360 GREENSBORO NC 27408
Guerrieri Thomas Joseph Jr officer: VP, CAO and Controller 3200 NORTHLINE AVE. SUITE 360 GREENSBORO NC 27408
Henry David director 3333 NEW HYDE PARK ROAD NEW HYDE PARK NY 11042
Citrin Jeffrey B director 950 THIRD AVENUE 17TH FLOOR NEW YORK NY 10022
Worsham Charles Allen officer: SVP,Construction & Development 3200 NORTHLINE AVENUE, SUITE 360 GREENSBORO NC 27408
Perry Chad officer: EVP,General Counsel,Secretary C/O TANGER FACTORY OUTLET CENTERS, INC. 3200 NORTHLINE AVENUE, SUITE 360 GREENSBORO NC 27408
Mcdonough Thomas E. officer: EVP, Chief Operating Officer 1600 NE MIAMI GARDENS DRIVE NORTH MIAMI BEACH FL 33179
Jessup Manuel O officer: Senior VP - Human Resources 11215 METRO PARKWAY FORT MYERS FL 33966
Reddin Thomas director 11115 RUSHMORE DR CHARLOTTE NC 28277

Tanger Factory Outlet Centers Headlines

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