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 6.44 is strong.
Thinking Electronic Industrial Co has a Altman Z-Score of 6.65, 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 Thinking Electronic Industrial Co's Altman Z-Score or its related term are showing as below:
TPE:2428'
s Altman Z-Score Range Over the Past 10 Years
Min: 4.14 Med: 5.18 Max: 6.44
Current: 6.44
During the past 13 years, Thinking Electronic Industrial Co's highest Altman Z-Score was 6.44. The lowest was 4.14. And the median was 5.18.
Thinking Electronic Industrial Co (TPE:2428) 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.
Thinking Electronic Industrial Co Altman Z-Score Chart
For the Electronic Components subindustry, Thinking Electronic Industrial 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.
Thinking Electronic Industrial Co Altman Z-Score vs Hardware Industry
For the Hardware industry and Technology sector, Thinking Electronic Industrial Co's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Thinking Electronic Industrial Co's Altman Z-Score falls into.
Thinking Electronic Industrial 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.
Thinking Electronic Industrial Co (TPE:2428) has a Altman Z-Score of 6.65 as of Jul. 03, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Thinking Electronic Industrial Co and its competitors. This is 28% above median its historical median of 5.18. Over the past decade, Thinking Electronic Industrial Co's Altman Z-Score has ranged from 4.14 to 6.44. According to the industry distribution chart, Thinking Electronic Industrial Co ranks #650 out of 2456 companies in the Hardware industry, placing it in the top 26.5%.
Is Thinking Electronic Industrial Co's Altman Z-Score too high?
Thinking Electronic Industrial Co's current Altman Z-Score of 6.65 is 28% above median its 10-year median of 5.18. Over the past 10 years, this metric has ranged from a low of 4.14 to a high of 6.44. The Hardware industry median Altman Z-Score is 3.60. Thinking Electronic Industrial Co's value of 6.65 is 85% above this industry median. Based on the distribution chart, Thinking Electronic Industrial Co ranks #650 out of 2456 companies in the Hardware industry, which is above the industry midpoint. Overall, Thinking Electronic Industrial Co has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Thinking Electronic Industrial Co's Altman Z-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Thinking Electronic Industrial Co ranks #650 out of 2456 companies for Altman Z-Score. This puts Thinking Electronic Industrial Co in the upper half of its industry. The industry median Altman Z-Score is 3.60. Thinking Electronic Industrial Co's value of 6.65 is 85% above this benchmark. Historically, Thinking Electronic Industrial Co's own Altman Z-Score has ranged from 4.14 to 6.44 over the past decade. While the company's 10-year median is 5.18 vs. the industry median of 3.60, Thinking Electronic Industrial 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 3.60, based on 2,456 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. Thinking Electronic Industrial Co's current Altman Z-Score of 6.65 is 85% 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 Thinking Electronic Industrial Co and its competitors. For the Hardware industry, the median Altman Z-Score is 3.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thinking Electronic Industrial Co's current Altman Z-Score is 6.65, which is 28% above median its own 10-year median of 5.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thinking Electronic Industrial Co stock overvalued right now?
Based on GuruFocus' analysis, Thinking Electronic Industrial Co (TPE:2428) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$175.50, compared to a current price of NT$311.00 — trading 77.2% above its estimated fair value. The current Altman Z-Score is 6.65, which is 28% above median its 10-year median of 5.18 and 85% above the Hardware industry median of 3.60. Thinking Electronic Industrial Co's overall GF Score™ is 78/100 with 8 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 Thinking Electronic Industrial Co (TPE:2428), the current Altman Z-Score is 6.65 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 Thinking Electronic Industrial Co (TPE:2428) Overvalued in 2026?
Based on GuruFocus' analysis, Thinking Electronic Industrial Co stock appears to be overvalued.
The current stock price of NT$311.00 is trading 77.2% above its estimated GF Value™ of NT$175.50.
GuruFocus considers Thinking Electronic Industrial Co to be Significantly Overvalued.
Key valuation signals for TPE:2428:
Altman Z-Score: 6.65 (28% above median its 10-year median of 5.18)
GF Value™: NT$175.50 vs. price of NT$311.00 (77.2% above fair value)
Industry Position: 85% above the Hardware median (#650 of 2456)
No single metric tells the full story. See the TPE:2428 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thinking Electronic Industrial Co Business Description
Thinking Electronic Industrial Co Ltd manufactures, processes, and sells electric devices, thermistors, varistors, and wires. Its product portfolio comprises negative temperature coefficient thermistors, zinc oxide varistors, ceramic positive temperature thermistors, polymer positive temperature coefficient thermistors (Polymer PTC resettable fuse), temperature sensors, and gas discharge tubes, among others. The Group's reportable segments are: Thinking Electronic Industrial (the company), which generates the maximum revenue, Thinking Changzhou, Dongguan Welkin and Zhongshan Welkin Guangdong, Thinking Yichang, Jiangxi Thinking, and Others. Geographically, it generates maximum revenue from Greater China (including Taiwan), and the rest from Europe and other regions.
78GF Score
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