Singapore AirlinesSINGF 78 Altman Z-Score is 0.99 as of Jun. 24, 2026, which is 5% above its 10-year median of 0.94. GuruFocus rates SINGF with a GF Score™ of 78/100 and a GF Value™ of $5.26 (Fairly Valued). The stock has 9 warning signs investors should review. Among 1,000 Transportation companies, Singapore Airlines ranks worse than 81.6% 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.
Warning Sign:
Altman Z-score of 1 is in distress zone. This implies bankruptcy possibility in the next two years.
Singapore Airlines has a Altman Z-Score of 0.99, 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 Singapore Airlines's Altman Z-Score or its related term are showing as below:
SINGF'
s Altman Z-Score Range Over the Past 10 Years
Min: 0.36 Med: 0.94 Max: 1.36
Current: 1
During the past 13 years, Singapore Airlines's highest Altman Z-Score was 1.36. The lowest was 0.36. And the median was 0.94.
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.
Singapore Airlines Altman Z-Score Related Terms
Singapore Airlines Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Singapore Airlines'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.
For the Airlines subindustry, Singapore Airlines'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.
Singapore Airlines Altman Z-Score vs Transportation Industry
For the Transportation industry and Industrials sector, Singapore Airlines's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Singapore Airlines'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.
Singapore Airlines'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
*
-0.0103
+
1.4
*
0
+
3.3
*
0
+
0.6
*
0.8917
+
1.0
*
0.4709
=
0.99
* 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.
Singapore Airlines (SINGF) has a Altman Z-Score of 0.99 as of Jun. 24, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Singapore Airlines and its competitors. This is near median its historical median of 0.94. Over the past decade, Singapore Airlines' Altman Z-Score has ranged from 0.36 to 1.36. According to the industry distribution chart, Singapore Airlines ranks #816 out of 1000 companies in the Transportation industry, placing it in the top 81.6%.
Is Singapore Airlines' Altman Z-Score too high?
Singapore Airlines' current Altman Z-Score of 0.99 is near median its 10-year median of 0.94. Over the past 10 years, this metric has ranged from a low of 0.36 to a high of 1.36. The Transportation industry median Altman Z-Score is 2.28. Singapore Airlines' value of 0.99 is 56.6% below this industry median. Based on the distribution chart, Singapore Airlines ranks #816 out of 1000 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Singapore Airlines has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Singapore Airlines' Altman Z-Score compare to DAL and UAL?
According to the Transportation industry distribution chart, Singapore Airlines ranks #816 out of 1000 companies for Altman Z-Score. This places Singapore Airlines in the lower half of its industry. The industry median Altman Z-Score is 2.28. Singapore Airlines' value of 0.99 is 56.6% below this benchmark. Historically, Singapore Airlines' own Altman Z-Score has ranged from 0.36 to 1.36 over the past decade. While the company's 10-year median is 0.94 vs. the industry median of 2.28, Singapore Airlines has consistently been below 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 Transportation company?
The median Altman Z-Score among Transportation companies is 2.28, based on 1,000 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. Singapore Airlines's current Altman Z-Score of 0.99 is 56.6% below 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 Singapore Airlines and its competitors. For the Transportation industry, the median Altman Z-Score is 2.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Singapore Airlines's current Altman Z-Score is 0.99, which is near median its own 10-year median of 0.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Singapore Airlines stock overvalued right now?
Based on GuruFocus' analysis, Singapore Airlines (SINGF) is currently considered Fairly Valued. The stock's GF Value™ is $5.26, compared to a current price of $5.69 — trading 8.2% above its estimated fair value. The current Altman Z-Score is 0.99, which is near median its 10-year median of 0.94 and 56.6% below the Transportation industry median of 2.28. Singapore Airlines' overall GF Score™ is 78/100 with 9 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 Singapore Airlines (SINGF), the current Altman Z-Score is 0.99 as of Jun. 24, 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 Singapore Airlines (SINGF) Overvalued in 2026?
Based on GuruFocus' analysis, Singapore Airlines stock appears to be overvalued.
The current stock price of $5.69 is trading 8.2% above its estimated GF Value™ of $5.26.
GuruFocus considers Singapore Airlines to be Fairly Valued.
Key valuation signals for SINGF:
Altman Z-Score: 0.99 (near median its 10-year median of 0.94)
GF Value™: $5.26 vs. price of $5.69 (8.2% above fair value)
Industry Position: 56.6% below the Transportation median (#816 of 1000)
No single metric tells the full story. See the SINGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Singapore Airlines is Singapore's flagship carrier and one of the region's largest airlines in terms of revenue and carrying capacity. With its hub in Changi Airport, the carrier provides regional and cross-continental passenger and cargo services destined to or transiting through Singapore. The company operates under dual brands: full-service carrier SIA and low-cost regional carrier Scoot. It also owns stakes in SATS and SIA Engineering. In 2024, the merger of its associate airline Vistara with Air India resulted in Singapore Airlines owning a 25% stake in Air India.
78GF Score
Get the complete analysis for SINGF
Altman Z-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
SINGF has been successfully added to your 
