Duty Free InternationalSGX:5SO Altman Z-Score is 3.24 as of Jul. 12, 2026, which is 3% below its 10-year median of 3.33. The stock has 5 warning signs investors should review. Among 1,113 Retail - Cyclical companies, Duty Free International ranks better than 61.1% 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 3.24 is strong.
Duty Free International has a Altman Z-Score of 3.24, 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 Duty Free International's Altman Z-Score or its related term are showing as below:
SGX:5SO'
s Altman Z-Score Range Over the Past 10 Years
Min: 2.3 Med: 3.33 Max: 7.4
Current: 3.24
During the past 13 years, Duty Free International's highest Altman Z-Score was 7.40. The lowest was 2.30. And the median was 3.33.
Duty Free International (SGX:5SO) 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.
SGX:5SO vs CASY, WSM, DKS: Altman Z-Score Comparison
For the Specialty Retail subindustry, Duty Free International'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.
Duty Free International Altman Z-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Duty Free International's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Duty Free International's Altman Z-Score falls into.
Duty Free International 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.
Duty Free International (SGX:5SO) has a Altman Z-Score of 3.24 as of Jul. 12, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Duty Free International and its competitors. This is near median its historical median of 3.33. Over the past decade, Duty Free International's Altman Z-Score has ranged from 2.30 to 7.40. According to the industry distribution chart, Duty Free International ranks #433 out of 1113 companies in the Retail - Cyclical industry, placing it in the top 38.9%.
Is Duty Free International's Altman Z-Score too high?
Duty Free International's current Altman Z-Score of 3.24 is near median its 10-year median of 3.33. Over the past 10 years, this metric has ranged from a low of 2.30 to a high of 7.40. The Retail - Cyclical industry median Altman Z-Score is 2.75. Duty Free International's value of 3.24 is 17.8% above this industry median. Based on the distribution chart, Duty Free International ranks #433 out of 1113 companies in the Retail - Cyclical industry, which is above the industry midpoint.
How does Duty Free International's Altman Z-Score compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, Duty Free International ranks #433 out of 1113 companies for Altman Z-Score. This puts Duty Free International in the upper half of its industry. The industry median Altman Z-Score is 2.75. Duty Free International's value of 3.24 is 17.8% above this benchmark. Historically, Duty Free International's own Altman Z-Score has ranged from 2.30 to 7.40 over the past decade. While the company's 10-year median is 3.33 vs. the industry median of 2.75, Duty Free International 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 Retail - Cyclical company?
The median Altman Z-Score among Retail - Cyclical companies is 2.75, based on 1,113 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. Duty Free International's current Altman Z-Score of 3.24 is 17.8% 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 Duty Free International and its competitors. For the Retail - Cyclical industry, the median Altman Z-Score is 2.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Duty Free International's current Altman Z-Score is 3.24, which is near median its own 10-year median of 3.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Duty Free International stock overvalued right now?
Based on GuruFocus' analysis, Duty Free International (SGX:5SO) is currently considered Significantly Undervalued. The stock's GF Value™ is S$0.13, compared to a current price of S$0.07 — trading 50% below its estimated fair value. The current Altman Z-Score is 3.24, which is near median its 10-year median of 3.33 and 17.8% above the Retail - Cyclical industry median of 2.75. 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 Duty Free International (SGX:5SO), the current Altman Z-Score is 3.24 as of Jul. 12, 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.
Duty Free International Ltd is a diversified group engaged in the operations of duty-free retail businesses and the manufacture of automotive component parts. Its segments include Trading of duty free goods and non-dutiable merchandise includes revenues from sale of goods, Manufacturing and supplying of automotive component parts includes revenues from sale of goods, and Investment holding and others includes revenues from sale of oil palm fresh fruit bunches. The majority of revenue is derived from Trading of duty free goods and non-dutiable merchandise segment. Beyond its core businesses, DFI also owns the Black Forest Golf and Country Club and oil palm plantation assets. The activities of the company are carried out mainly in Malaysia.
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