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Grupo AeromexicoB de CV Altman Z-Score

: -2.03 (As of Today)
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Warning Sign:

Altman Z-score of -2.03 is in distress zone. This implies bankrupcy possibility in the next two years.

Grupo AeromexicoB de CV has a Altman Z-Score of -2.03, 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 Grupo AeromexicoB de CV's Altman Z-Score or its related term are showing as below:

OTCPK:GRPAQ' s Altman Z-Score Range Over the Past 10 Years
Min: -3.26   Med: 1.34   Max: 2.83
Current: -2.03

-3.26
2.83

During the past 13 years, Grupo AeromexicoB de CV's highest Altman Z-Score was 2.83. The lowest was -3.26. And the median was 1.34.


Grupo AeromexicoB de CV Altman Z-Score Historical Data

The historical data trend for Grupo AeromexicoB de CV'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.

Grupo AeromexicoB de CV Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Altman Z-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.19 1.02 0.88 0.47 -3.26

Grupo AeromexicoB de CV Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 -1.56 -3.26 -3.15 -2.14 -2.02

Competitive Comparison

For the Airlines subindustry, Grupo AeromexicoB de CV'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.

   

Grupo AeromexicoB de CV Altman Z-Score Distribution

For the Transportation industry and Industrials sector, Grupo AeromexicoB de CV's Altman Z-Score distribution charts can be found below:

* The bar in red indicates where Grupo AeromexicoB de CV's Altman Z-Score falls into.



Grupo AeromexicoB de CV 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.

Grupo AeromexicoB de CV'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*-0.9516+1.4*-0.5435+3.3*-0.158+0.6*0.0078+1.0*0.3873
=-2.03

* 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 Sep. 2021:
Total Assets was $4,775 Mil.
Total Current Assets was $1,282 Mil.
Total Current Liabilities was $5,826 Mil.
Retained Earnings was $-2,595 Mil.
Pre-Tax Income was -131.08619631749 + -167.26184889723 + -243.39378313253 + -419.5466523717 = $-961 Mil.
Interest Expense was -63.692887893406 + -60.693511187436 + -43.769542168675 + -38.869411434641 = $-207 Mil.
Revenue was 660.18766742658 + 499.85792306079 + 330.12110843373 + 359.19726057594 = $1,849 Mil.
Market Cap (Today) was $54 Mil.
Total Liabilities was $6,918 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
=(1282.2357466041 - 5825.6407979607)/4774.70964427
=-0.9516

X2=Retained Earnings/Total Assets
=-2595.1897875397/4774.70964427
=-0.5435

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(-961.28848071895 - -207.02535268416)/4774.70964427
=-0.158

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=53.819/6917.8617287153
=0.0078

X5=Revenue/Total Assets
=1849.3639594971/4774.70964427
=0.3873

The zones of discrimination were as such:

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

Grupo AeromexicoB de CV has a Altman Z-Score of -2.03 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.


Grupo AeromexicoB de CV  (OTCPK:GRPAQ) 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.


Grupo AeromexicoB de CV Altman Z-Score Related Terms

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Grupo AeromexicoB de CV Business Description

Grupo AeromexicoB de CV logo
Industry
Industrials » Transportation NAICS : 481111 SIC : 4512
Traded in Other Exchanges
Address
Paseo de la Reforma 445, Col. Cuauhtemoc, Mexico City, MEX, 06500
Grupo Aeroméxico SAB de CV is a leader in Mexican air transportation. Revenue is generated by transporting passengers and air cargo and providing additional amenities to improve travel experiences. The company has one reportable segment, air transportation, and reports revenues by geographic region. Mexico accounts for approximately half of total revenue, with North, Central, and South America comprising another material portion. Grupo Aeromexico is a member of a global alliance with other carriers to better assist customers and increase the number of destinations. Additionally, the company utilizes a joint Aeromexico-Delta maintenance and repair facility to maintain and enhance existing fleet.
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