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Rasa IndustriesTSE:4022 +1.65%70 Altman Z-Score is 4.84 as of Jul. 23, 2026, which is 133% above its 10-year median of 2.08. GuruFocus rates TSE:4022 with a GF Score™ of 70/100 and a GF Value™ of 円610.03 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 1,561 Chemicals companies, Rasa Industries ranks better than 68.67% 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 4.58 is strong.
Rasa Industries has a Altman Z-Score of 4.84, 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 Rasa Industries's Altman Z-Score or its related term are showing as below:
TSE:4022'
s Altman Z-Score Range Over the Past 10 Years
Min: 1.41 Med: 2.08 Max: 4.58
Current: 4.58
During the past 13 years, Rasa Industries's highest Altman Z-Score was 4.58. The lowest was 1.41. And the median was 2.08.
Rasa Industries (TSE:4022) 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.
Rasa Industries Altman Z-Score Related Terms
Rasa Industries Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Rasa Industries'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:4022 vs LIN, SHW, ECL: Altman Z-Score Comparison
For the Specialty Chemicals subindustry, Rasa Industries'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.
Rasa Industries Altman Z-Score vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Rasa Industries's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Rasa Industries'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.
Rasa Industries'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
*
0.269
+
1.4
*
0.4255
+
3.3
*
0.1263
+
0.6
*
4.2499
+
1.0
*
0.9551
=
4.84
* 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.
Rasa Industries (TSE:4022) has a Altman Z-Score of 4.84 as of Jul. 23, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Rasa Industries and its competitors. This is 133% above median its historical median of 2.08. Over the past decade, Rasa Industries' Altman Z-Score has ranged from 1.41 to 4.58. According to the industry distribution chart, Rasa Industries ranks #489 out of 1561 companies in the Chemicals industry, placing it in the top 31.3%.
Is Rasa Industries' Altman Z-Score too high?
Rasa Industries' current Altman Z-Score of 4.84 is 133% above median its 10-year median of 2.08. Over the past 10 years, this metric has ranged from a low of 1.41 to a high of 4.58. The Chemicals industry median Altman Z-Score is 3.06. Rasa Industries' value of 4.84 is 58.2% above this industry median. Based on the distribution chart, Rasa Industries ranks #489 out of 1561 companies in the Chemicals industry, which is above the industry midpoint. Overall, Rasa Industries has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Rasa Industries' Altman Z-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Rasa Industries ranks #489 out of 1561 companies for Altman Z-Score. This puts Rasa Industries in the upper half of its industry. The industry median Altman Z-Score is 3.06. Rasa Industries' value of 4.84 is 58.2% above this benchmark. Historically, Rasa Industries' own Altman Z-Score has ranged from 1.41 to 4.58 over the past decade. While the company's 10-year median is 2.08 vs. the industry median of 3.06, Rasa Industries 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 Chemicals company?
The median Altman Z-Score among Chemicals companies is 3.06, based on 1,561 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. Rasa Industries's current Altman Z-Score of 4.84 is 58.2% 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 Rasa Industries and its competitors. For the Chemicals industry, the median Altman Z-Score is 3.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Rasa Industries's current Altman Z-Score is 4.84, which is 133% above median its own 10-year median of 2.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rasa Industries stock overvalued right now?
Based on GuruFocus' analysis, Rasa Industries (TSE:4022) is currently considered Significantly Overvalued. The stock's GF Value™ is 円610.03, compared to a current price of 円1,973.00 — trading 223.4% above its estimated fair value. The current Altman Z-Score is 4.84, which is 133% above median its 10-year median of 2.08 and 58.2% above the Chemicals industry median of 3.06. Rasa Industries' overall GF Score™ is 70/100 with 1 warning sign 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 Rasa Industries (TSE:4022), the current Altman Z-Score is 4.84 as of Jul. 23, 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 Rasa Industries (TSE:4022) Overvalued in 2026?
Based on GuruFocus' analysis, Rasa Industries stock appears to be overvalued.
The current stock price of 円1,973.00 is trading 223.4% above its estimated GF Value™ of 円610.03.
GuruFocus considers Rasa Industries to be Significantly Overvalued.
Key valuation signals for TSE:4022:
Altman Z-Score: 4.84 (133% above median its 10-year median of 2.08)
GF Value™: 円610.03 vs. price of 円1,973.00 (223.4% above fair value)
Industry Position: 58.2% above the Chemicals median (#489 of 1561)
No single metric tells the full story. See the TSE:4022 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Rasa Industries Ltd is engaged in the chemicals, machinery, and electronic materials business. The chemicals division manufactures and sells basic chemicals based on phosphorus-based products. The machinery division provides various machines such as drilling, crushing, and sorting, and the Electronic materials division is engaged in the development of the electronics industry by supplying high-purity inorganic materials that are raw materials for compound semiconductors, as well as resist strippers and coating agents used in semiconductor and liquid crystal panel manufacturing processes.
70GF Score
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