Cheng Shin Rubber Industry CoTPE:2105 +1.42%77 Altman Z-Score is 2.70 as of Jul. 03, 2026, which is 8% above its 10-year median of 2.50. GuruFocus rates TPE:2105 with a GF Score™ of 77/100 and a GF Value™ of NT$42.44 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,312 Vehicles & Parts companies, Cheng Shin Rubber Industry Co ranks better than 51.68% 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 2.6 is in the grey area. This implies that the company is under some kind of financial stress. If it is below 1.8, the company may face bankruptcy risk.
Cheng Shin Rubber Industry Co has a Altman Z-Score of 2.70, indicating it is in Grey Zones. This implies that Cheng Shin Rubber Industry Co is in some kind of financial stress. If it is below 1.81, the company may face bankrupcy risk.
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 Cheng Shin Rubber Industry Co's Altman Z-Score or its related term are showing as below:
TPE:2105'
s Altman Z-Score Range Over the Past 10 Years
Min: 2 Med: 2.5 Max: 3.29
Current: 2.6
During the past 13 years, Cheng Shin Rubber Industry Co's highest Altman Z-Score was 3.29. The lowest was 2.00. And the median was 2.50.
Cheng Shin Rubber Industry Co (TPE:2105) 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.
Cheng Shin Rubber Industry Co Altman Z-Score Chart
For the Auto Parts subindustry, Cheng Shin Rubber Industry 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.
Cheng Shin Rubber Industry Co Altman Z-Score vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Cheng Shin Rubber Industry Co's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Cheng Shin Rubber Industry Co's Altman Z-Score falls into.
Cheng Shin Rubber Industry 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.
Cheng Shin Rubber Industry Co (TPE:2105) has a Altman Z-Score of 2.70 as of Jul. 03, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Cheng Shin Rubber Industry Co and its competitors. This is near median its historical median of 2.50. Over the past decade, Cheng Shin Rubber Industry Co's Altman Z-Score has ranged from 2.00 to 3.29. According to the industry distribution chart, Cheng Shin Rubber Industry Co ranks #634 out of 1312 companies in the Vehicles & Parts industry, placing it in the top 48.3%.
Is Cheng Shin Rubber Industry Co's Altman Z-Score too high?
Cheng Shin Rubber Industry Co's current Altman Z-Score of 2.70 is near median its 10-year median of 2.50. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 3.29. The Vehicles & Parts industry median Altman Z-Score is 2.54. Cheng Shin Rubber Industry Co's value of 2.70 is 6.3% above this industry median. Based on the distribution chart, Cheng Shin Rubber Industry Co ranks #634 out of 1312 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, Cheng Shin Rubber Industry Co has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Cheng Shin Rubber Industry Co's Altman Z-Score compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Cheng Shin Rubber Industry Co ranks #634 out of 1312 companies for Altman Z-Score. This puts Cheng Shin Rubber Industry Co in the upper half of its industry. The industry median Altman Z-Score is 2.54. Cheng Shin Rubber Industry Co's value of 2.70 is 6.3% above this benchmark. Historically, Cheng Shin Rubber Industry Co's own Altman Z-Score has ranged from 2.00 to 3.29 over the past decade. While the company's 10-year median is 2.50 vs. the industry median of 2.54, Cheng Shin Rubber Industry 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 Vehicles & Parts company?
The median Altman Z-Score among Vehicles & Parts companies is 2.54, based on 1,312 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. Cheng Shin Rubber Industry Co's current Altman Z-Score of 2.70 is 6.3% 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 Cheng Shin Rubber Industry Co and its competitors. For the Vehicles & Parts industry, the median Altman Z-Score is 2.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cheng Shin Rubber Industry Co's current Altman Z-Score is 2.70, which is near median its own 10-year median of 2.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cheng Shin Rubber Industry Co stock overvalued right now?
Based on GuruFocus' analysis, Cheng Shin Rubber Industry Co (TPE:2105) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$42.44, compared to a current price of NT$32.15 — trading 24.2% below its estimated fair value. The current Altman Z-Score is 2.70, which is near median its 10-year median of 2.50 and 6.3% above the Vehicles & Parts industry median of 2.54. Cheng Shin Rubber Industry Co's overall GF Score™ is 77/100 with 4 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 Cheng Shin Rubber Industry Co (TPE:2105), the current Altman Z-Score is 2.70 as of Jul. 03, 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 Cheng Shin Rubber Industry Co (TPE:2105) Overvalued in 2026?
Based on GuruFocus' analysis, Cheng Shin Rubber Industry Co stock appears to be undervalued.
The current stock price of NT$32.15 is trading 24.2% below its estimated GF Value™ of NT$42.44.
GuruFocus considers Cheng Shin Rubber Industry Co to be Modestly Undervalued.
Key valuation signals for TPE:2105:
Altman Z-Score: 2.70 (near median its 10-year median of 2.50)
GF Value™: NT$42.44 vs. price of NT$32.15 (24.2% below fair value)
Industry Position: 6.3% above the Vehicles & Parts median (#634 of 1312)
No single metric tells the full story. See the TPE:2105 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cheng Shin Rubber Industry Co Business Description
Cheng Shin Rubber Industry Co Ltd makes and sells rubber tires under the CST brand name. The company also sells rubber inner tubes and other rubber products. It includes the Processing, manufacturing, and trading of bicycle tires, electrical vehicle tires, reclaimed rubber, various rubbers, resin, and others. The Business organization is divided into Cheng Shin (Taiwan), MAXXIS (Taiwan) Trading, Cheng Shin (Xiamen), Cheng Shin (China), Petrel (Xiamen), Cheng Shin (Thailand), and other segments based on the nature of each company. The main sources of sales revenue are from manufacturing and sales of bicycle tires, electrical vehicle tires, reclaimed rubber, etc. Its geographical segments are Taiwan, China, the United States, and Others.
77GF Score
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