Needs WellTSE:3992 +0.67%91 Altman Z-Score is 9.70 as of Jul. 12, 2026, which is 15% above its 10-year median of 8.41. GuruFocus rates TSE:3992 with a GF Score™ of 91/100 and a GF Value™ of 円498.93 (Fairly Valued). The stock has 2 warning signs investors should review. Among 2,768 Software companies, Needs Well ranks better than 87.03% 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 9.7 is strong.
Needs Well has a Altman Z-Score of 9.70, 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 Needs Well's Altman Z-Score or its related term are showing as below:
TSE:3992'
s Altman Z-Score Range Over the Past 10 Years
Min: 5.99 Med: 8.41 Max: 12.23
Current: 9.7
During the past 11 years, Needs Well's highest Altman Z-Score was 12.23. The lowest was 5.99. And the median was 8.41.
Needs Well (TSE:3992) 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.
Needs Well Altman Z-Score Related Terms
Needs Well Altman Z-Score Historical Data
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The historical data trend for Needs Well'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.
TSE:3992 vs MSFT, ORCL, PLTR: Altman Z-Score Comparison
For the Software - Infrastructure subindustry, Needs Well'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.
Needs Well Altman Z-Score vs Software Industry
For the Software industry and Technology sector, Needs Well's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Needs Well'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.
Needs Well'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
*
0.5422
+
1.4
*
0.5747
+
3.3
*
0.1876
+
0.6
*
10.0678
+
1.0
*
1.5808
=
9.70
* 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.
Needs Well (TSE:3992) has a Altman Z-Score of 9.70 as of Jul. 12, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Needs Well and its competitors. This is 15% above median its historical median of 8.41. Over the past decade, Needs Well's Altman Z-Score has ranged from 5.99 to 12.23. According to the industry distribution chart, Needs Well ranks #359 out of 2768 companies in the Software industry, placing it in the top 13%.
Is Needs Well's Altman Z-Score too high?
Needs Well's current Altman Z-Score of 9.70 is 15% above median its 10-year median of 8.41. Over the past 10 years, this metric has ranged from a low of 5.99 to a high of 12.23. The Software industry median Altman Z-Score is 3.16. Needs Well's value of 9.70 is 207% above this industry median. Based on the distribution chart, Needs Well ranks #359 out of 2768 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Needs Well has a GF Score™ of 91/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Needs Well's Altman Z-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, Needs Well ranks #359 out of 2768 companies for Altman Z-Score. This places Needs Well in the top 13% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 3.16. Needs Well's value of 9.70 is 207% above this benchmark. Historically, Needs Well's own Altman Z-Score has ranged from 5.99 to 12.23 over the past decade. While the company's 10-year median is 8.41 vs. the industry median of 3.16, Needs Well 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 Software company?
The median Altman Z-Score among Software companies is 3.16, based on 2,768 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. Needs Well's current Altman Z-Score of 9.70 is 207% 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 Needs Well and its competitors. For the Software industry, the median Altman Z-Score is 3.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Needs Well's current Altman Z-Score is 9.70, which is 15% above median its own 10-year median of 8.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Needs Well stock overvalued right now?
Based on GuruFocus' analysis, Needs Well (TSE:3992) is currently considered Fairly Valued. The stock's GF Value™ is 円498.93, compared to a current price of 円452.00 — trading 9.4% below its estimated fair value. The current Altman Z-Score is 9.70, which is 15% above median its 10-year median of 8.41 and 207% above the Software industry median of 3.16. Needs Well's overall GF Score™ is 91/100 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 Needs Well (TSE:3992), the current Altman Z-Score is 9.70 as of Jul. 12, 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 Needs Well (TSE:3992) Overvalued in 2026?
Based on GuruFocus' analysis, Needs Well stock appears to be undervalued.
The current stock price of 円452.00 is trading 9.4% below its estimated GF Value™ of 円498.93.
GuruFocus considers Needs Well to be Fairly Valued.
Key valuation signals for TSE:3992:
Altman Z-Score: 9.70 (15% above median its 10-year median of 8.41)
GF Value™: 円498.93 vs. price of 円452.00 (9.4% below fair value)
Industry Position: 207% above the Software median (#359 of 2768)
No single metric tells the full story. See the TSE:3992 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Needs Well Inc provides application development, cloud solutions, IT related products and services, system infrastructure service and IT outsourcing services. Its services support to the development of BtoC / BtoB systems, digital marketing related system, business system, and CMS using web technology.
91GF Score
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