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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 21 is strong.
TienPin United Enterprise Co has a Altman Z-Score of 20.73, 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 TienPin United Enterprise Co's Altman Z-Score or its related term are showing as below:
ROCO:6199'
s Altman Z-Score Range Over the Past 10 Years
Min: 5.38 Med: 9.95 Max: 32.73
Current: 21
During the past 13 years, TienPin United Enterprise Co's highest Altman Z-Score was 32.73. The lowest was 5.38. And the median was 9.95.
TienPin United Enterprise Co (ROCO:6199) 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.
ROCO:6199 vs SNDK, DELL, STX: Altman Z-Score Comparison
For the Computer Hardware subindustry, TienPin United Enterprise Co'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.
TienPin United Enterprise Co Altman Z-Score vs Hardware Industry
For the Hardware industry and Technology sector, TienPin United Enterprise Co's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where TienPin United Enterprise Co's Altman Z-Score falls into.
TienPin United Enterprise Co 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.
TienPin United Enterprise Co (ROCO:6199) has a Altman Z-Score of 20.73 as of Jul. 17, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on TienPin United Enterprise Co and its competitors. This is 108% above median its historical median of 9.95. Over the past decade, TienPin United Enterprise Co's Altman Z-Score has ranged from 5.38 to 32.73. According to the industry distribution chart, TienPin United Enterprise Co ranks #140 out of 2462 companies in the Hardware industry, placing it in the top 5.7%.
Is TienPin United Enterprise Co's Altman Z-Score too high?
TienPin United Enterprise Co's current Altman Z-Score of 20.73 is 108% above median its 10-year median of 9.95. Over the past 10 years, this metric has ranged from a low of 5.38 to a high of 32.73. The Hardware industry median Altman Z-Score is 3.56. TienPin United Enterprise Co's value of 20.73 is 483.1% above this industry median. Based on the distribution chart, TienPin United Enterprise Co ranks #140 out of 2462 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, TienPin United Enterprise Co has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TienPin United Enterprise Co's Altman Z-Score compare to SNDK and DELL?
According to the Hardware industry distribution chart, TienPin United Enterprise Co ranks #140 out of 2462 companies for Altman Z-Score. This places TienPin United Enterprise Co in the top 6% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 3.56. TienPin United Enterprise Co's value of 20.73 is 483.1% above this benchmark. Historically, TienPin United Enterprise Co's own Altman Z-Score has ranged from 5.38 to 32.73 over the past decade. While the company's 10-year median is 9.95 vs. the industry median of 3.56, TienPin United Enterprise Co 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 3.56, based on 2,462 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. TienPin United Enterprise Co's current Altman Z-Score of 20.73 is 483.1% 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 TienPin United Enterprise Co and its competitors. For the Hardware industry, the median Altman Z-Score is 3.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TienPin United Enterprise Co's current Altman Z-Score is 20.73, which is 108% above median its own 10-year median of 9.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TienPin United Enterprise Co stock overvalued right now?
Based on GuruFocus' analysis, TienPin United Enterprise Co (ROCO:6199) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$143.77, compared to a current price of NT$104.00 — trading 27.7% below its estimated fair value. The current Altman Z-Score is 20.73, which is 108% above median its 10-year median of 9.95 and 483.1% above the Hardware industry median of 3.56. TienPin United Enterprise Co's overall GF Score™ is 85/100 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 TienPin United Enterprise Co (ROCO:6199), the current Altman Z-Score is 20.73 as of Jul. 17, 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 TienPin United Enterprise Co (ROCO:6199) Overvalued in 2026?
Based on GuruFocus' analysis, TienPin United Enterprise Co stock appears to be undervalued.
The current stock price of NT$104.00 is trading 27.7% below its estimated GF Value™ of NT$143.77.
GuruFocus considers TienPin United Enterprise Co to be Modestly Undervalued.
Key valuation signals for ROCO:6199:
Altman Z-Score: 20.73 (108% above median its 10-year median of 9.95)
GF Value™: NT$143.77 vs. price of NT$104.00 (27.7% below fair value)
Industry Position: 483.1% above the Hardware median (#140 of 2462)
No single metric tells the full story. See the ROCO:6199 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TienPin United Enterprise Co Ltd is a flash storage manufacturer, specializing in portable storage products. It designs and manufactures products using USB 2.0, PCMCIA, ExpressCard, FireWire, SDIO and CompactFlash interfaces. Its products include a lash card reader/writer, flash card adapter, Digital Photo Frame, Digital Signage, LCD TV Player Module, fingerprint device, and flash drive.
85GF Score
Get the complete analysis for ROCO:6199
Altman Z-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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