TomoegawaTSE:3878 +0.77%64 Altman Z-Score is 1.29 as of Jul. 06, 2026, which is 9% below its 10-year median of 1.42. GuruFocus rates TSE:3878 with a GF Score™ of 64/100 and a GF Value™ of 円819.08 (Fairly Valued). The stock has 4 warning signs investors should review. Among 281 Forest Products companies, Tomoegawa ranks worse than 67.26% 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 1.29 is in distress zone. This implies bankruptcy possibility in the next two years.
Tomoegawa has a Altman Z-Score of 1.29, 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 Tomoegawa's Altman Z-Score or its related term are showing as below:
TSE:3878'
s Altman Z-Score Range Over the Past 10 Years
Min: 1.11 Med: 1.42 Max: 1.61
Current: 1.29
During the past 13 years, Tomoegawa's highest Altman Z-Score was 1.61. The lowest was 1.11. And the median was 1.42.
Tomoegawa (TSE:3878) 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.
Tomoegawa Altman Z-Score Related Terms
Tomoegawa Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Tomoegawa'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 Paper & Paper Products subindustry, Tomoegawa'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.
Tomoegawa Altman Z-Score vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Tomoegawa's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Tomoegawa'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.
Tomoegawa'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
*
0.0344
+
1.4
*
0.1958
+
3.3
*
0.0345
+
0.6
*
0.2713
+
1.0
*
0.6979
=
1.29
* 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.
Tomoegawa (TSE:3878) has a Altman Z-Score of 1.29 as of Jul. 06, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Tomoegawa and its competitors. This is near median its historical median of 1.42. Over the past decade, Tomoegawa's Altman Z-Score has ranged from 1.11 to 1.61. According to the industry distribution chart, Tomoegawa ranks #189 out of 281 companies in the Forest Products industry, placing it in the top 67.3%.
Is Tomoegawa's Altman Z-Score too high?
Tomoegawa's current Altman Z-Score of 1.29 is near median its 10-year median of 1.42. Over the past 10 years, this metric has ranged from a low of 1.11 to a high of 1.61. The Forest Products industry median Altman Z-Score is 1.81. Tomoegawa's value of 1.29 is 28.7% below this industry median. Based on the distribution chart, Tomoegawa ranks #189 out of 281 companies in the Forest Products industry, which is below the industry midpoint. Overall, Tomoegawa has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Tomoegawa's Altman Z-Score compare to competitors?
According to the Forest Products industry distribution chart, Tomoegawa ranks #189 out of 281 companies for Altman Z-Score. This places Tomoegawa in the lower half of its industry. The industry median Altman Z-Score is 1.81. Tomoegawa's value of 1.29 is 28.7% below this benchmark. Historically, Tomoegawa's own Altman Z-Score has ranged from 1.11 to 1.61 over the past decade. While the company's 10-year median is 1.42 vs. the industry median of 1.81, Tomoegawa 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 Forest Products company?
The median Altman Z-Score among Forest Products companies is 1.81, based on 281 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. Tomoegawa's current Altman Z-Score of 1.29 is 28.7% 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 Tomoegawa and its competitors. For the Forest Products industry, the median Altman Z-Score is 1.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tomoegawa's current Altman Z-Score is 1.29, which is near median its own 10-year median of 1.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tomoegawa stock overvalued right now?
Based on GuruFocus' analysis, Tomoegawa (TSE:3878) is currently considered Fairly Valued. The stock's GF Value™ is 円819.08, compared to a current price of 円787.00 — trading 3.9% below its estimated fair value. The current Altman Z-Score is 1.29, which is near median its 10-year median of 1.42 and 28.7% below the Forest Products industry median of 1.81. Tomoegawa's overall GF Score™ is 64/100 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 Tomoegawa (TSE:3878), the current Altman Z-Score is 1.29 as of Jul. 06, 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 Tomoegawa (TSE:3878) Overvalued in 2026?
Based on GuruFocus' analysis, Tomoegawa stock appears to be undervalued.
The current stock price of 円787.00 is trading 3.9% below its estimated GF Value™ of 円819.08.
GuruFocus considers Tomoegawa to be Fairly Valued.
Key valuation signals for TSE:3878:
Altman Z-Score: 1.29 (near median its 10-year median of 1.42)
GF Value™: 円819.08 vs. price of 円787.00 (3.9% below fair value)
Industry Position: 28.7% below the Forest Products median (#189 of 281)
No single metric tells the full story. See the TSE:3878 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tomoegawa Corp manufactures, processes, and sells electronics parts, display parts, fine particles, functional sheets, and specialty paper products. It offers clear hard coat films for screen protection of mobile devices; adhesive tapes for circuit boards; and lids for hermetic seal package, as well as electrostatic chuck for LSI and LCD manufacturing process. The company also provides display component materials; and display film products. It offers fine particle materials, such as magnetic toners, non-magnetic toners, full color toners; information printing materials comprising inkjet; and special fiber sheets, including stainless fiber sheets, fluorine fiber sheets. Further, it provides ultra-lightweight printing papers; and insulating papers, conductive papers, absorbing papers.
64GF Score
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