ZEAL Network SESTU:TIM -0.24%87 Altman Z-Score is 3.89 as of Jun. 30, 2026, which is 20% below its 10-year median of 4.86. GuruFocus rates STU:TIM with a GF Score™ of 87/100 and a GF Value™ of €68.99 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 839 Travel & Leisure companies, ZEAL Network SE ranks better than 73.42% 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 3.91 is strong.
ZEAL Network SE has a Altman Z-Score of 3.89, 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 ZEAL Network SE's Altman Z-Score or its related term are showing as below:
STU:TIM'
s Altman Z-Score Range Over the Past 10 Years
Min: 1.98 Med: 4.86 Max: 8.08
Current: 3.91
During the past 13 years, ZEAL Network SE's highest Altman Z-Score was 8.08. The lowest was 1.98. And the median was 4.86.
ZEAL Network SE (STU:TIM) 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.
Altman Z-Score does not apply to financial companies.
ZEAL Network SE Altman Z-Score Related Terms
ZEAL Network SE Altman Z-Score Historical Data
* Premium members only.
The historical data trend for ZEAL Network SE'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.
STU:TIM vs FLUT, DKNG, SGHC: Altman Z-Score Comparison
For the Gambling subindustry, ZEAL Network SE'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.
ZEAL Network SE Altman Z-Score vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, ZEAL Network SE's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where ZEAL Network SE'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.
ZEAL Network SE'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
*
0.1428
+
1.4
*
0.1267
+
3.3
*
0.1304
+
0.6
*
4.3462
+
1.0
*
0.4984
=
3.89
* 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.
ZEAL Network SE (STU:TIM) has a Altman Z-Score of 3.89 as of Jun. 30, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on ZEAL Network SE and its competitors. This is 20% below median its historical median of 4.86. Over the past decade, ZEAL Network SE's Altman Z-Score has ranged from 1.98 to 8.08. According to the industry distribution chart, ZEAL Network SE ranks #223 out of 839 companies in the Travel & Leisure industry, placing it in the top 26.6%.
Is ZEAL Network SE's Altman Z-Score too high?
ZEAL Network SE's current Altman Z-Score of 3.89 is 20% below median its 10-year median of 4.86. Over the past 10 years, this metric has ranged from a low of 1.98 to a high of 8.08. The Travel & Leisure industry median Altman Z-Score is 1.98. ZEAL Network SE's value of 3.89 is 96.5% above this industry median. Based on the distribution chart, ZEAL Network SE ranks #223 out of 839 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, ZEAL Network SE has a GF Score™ of 87/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ZEAL Network SE's Altman Z-Score compare to FLUT and DKNG?
According to the Travel & Leisure industry distribution chart, ZEAL Network SE ranks #223 out of 839 companies for Altman Z-Score. This puts ZEAL Network SE in the upper half of its industry. The industry median Altman Z-Score is 1.98. ZEAL Network SE's value of 3.89 is 96.5% above this benchmark. Historically, ZEAL Network SE's own Altman Z-Score has ranged from 1.98 to 8.08 over the past decade. While the company's 10-year median is 4.86 vs. the industry median of 1.98, ZEAL Network SE 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 Travel & Leisure company?
The median Altman Z-Score among Travel & Leisure companies is 1.98, based on 839 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. ZEAL Network SE's current Altman Z-Score of 3.89 is 96.5% 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 ZEAL Network SE and its competitors. For the Travel & Leisure industry, the median Altman Z-Score is 1.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ZEAL Network SE's current Altman Z-Score is 3.89, which is 20% below median its own 10-year median of 4.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ZEAL Network SE stock overvalued right now?
Based on GuruFocus' analysis, ZEAL Network SE (STU:TIM) is currently considered Significantly Undervalued. The stock's GF Value™ is €68.99, compared to a current price of €42.20 — trading 38.8% below its estimated fair value. The current Altman Z-Score is 3.89, which is 20% below median its 10-year median of 4.86 and 96.5% above the Travel & Leisure industry median of 1.98. ZEAL Network SE's overall GF Score™ is 87/100 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 ZEAL Network SE (STU:TIM), the current Altman Z-Score is 3.89 as of Jun. 30, 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 ZEAL Network SE (STU:TIM) Overvalued in 2026?
Based on GuruFocus' analysis, ZEAL Network SE stock appears to be undervalued.
The current stock price of €42.20 is trading 38.8% below its estimated GF Value™ of €68.99.
GuruFocus considers ZEAL Network SE to be Significantly Undervalued.
Key valuation signals for STU:TIM:
Altman Z-Score: 3.89 (20% below median its 10-year median of 4.86)
GF Value™: €68.99 vs. price of €42.20 (38.8% below fair value)
Industry Position: 96.5% above the Travel & Leisure median (#223 of 839)
No single metric tells the full story. See the STU:TIM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ZEAL Network SE is an e-commerce group of companies company specializing in the area of online lottery. The company offers consumer-facing lottery-based games as well as business-to-business solutions. The operating business segments are Germany and Other. The ZEAL group now has more than one million active customers. ZEAL allows the participation in state-licensed lotteries via the LOTTO24 and Tipp24 brands and also offers its own lottery products. ZEAL operates under its owns brands namely ZEAL Instant Games, ZEAL Ventures and ZEAL Iberia.
87GF Score
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