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FUJIFILM Holdings (TSE:4901) Altman Z-Score : 3.40 (As of Jun. 22, 2024)


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What is FUJIFILM Holdings Altman Z-Score?

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 3.42 is strong.

FUJIFILM Holdings has a Altman Z-Score of 3.40, 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 FUJIFILM Holdings's Altman Z-Score or its related term are showing as below:

TSE:4901' s Altman Z-Score Range Over the Past 10 Years
Min: 3.11   Med: 3.29   Max: 3.42
Current: 3.42

During the past 13 years, FUJIFILM Holdings's highest Altman Z-Score was 3.42. The lowest was 3.11. And the median was 3.29.


FUJIFILM Holdings Altman Z-Score Historical Data

The historical data trend for FUJIFILM Holdings'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.

* Premium members only.

FUJIFILM Holdings Altman Z-Score Chart

FUJIFILM Holdings Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Altman Z-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.23 3.36 3.36 3.22 3.26

FUJIFILM Holdings Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Altman Z-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.22 3.32 3.20 3.13 3.26

Competitive Comparison of FUJIFILM Holdings's Altman Z-Score

For the Conglomerates subindustry, FUJIFILM Holdings'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.


FUJIFILM Holdings's Altman Z-Score Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, FUJIFILM Holdings's Altman Z-Score distribution charts can be found below:

* The bar in red indicates where FUJIFILM Holdings's Altman Z-Score falls into.



FUJIFILM Holdings 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.

FUJIFILM Holdings'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*0.0855+1.4*0.5731+3.3*0.0681+0.6*2.7571+1.0*0.619
=3.40

* 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.

Trailing Twelve Months (TTM) ended in Mar. 2024:
Total Assets was 円4,783,460 Mil.
Total Current Assets was 円1,574,628 Mil.
Total Current Liabilities was 円1,165,841 Mil.
Retained Earnings was 円2,741,416 Mil.
Pre-Tax Income was 87624 + 77590 + 82777 + 69297 = 円317,288 Mil.
Interest Expense was -2422 + -2199 + -1705 + -2157 = 円-8,483 Mil.
Revenue was 805505 + 766941 + 727711 + 660759 = 円2,960,916 Mil.
Market Cap (Today) was 円4,439,398 Mil.
Total Liabilities was 円1,610,145 Mil.

* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.

X1=Working Capital/Total Assets
=(Total Current Assets - Total Current Liabilities)/Total Assets
=(1574628 - 1165841)/4783460
=0.0855

X2=Retained Earnings/Total Assets
=2741416/4783460
=0.5731

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(317288 - -8483)/4783460
=0.0681

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=4439398.318/1610145
=2.7571

X5=Revenue/Total Assets
=2960916/4783460
=0.619

The zones of discrimination were as such:

Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones

FUJIFILM Holdings has a Altman Z-Score of 3.40 indicating it is in Safe Zones.

Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.


FUJIFILM Holdings  (TSE:4901) 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.

Read more about Altman Z-Score and the original research.


Be Aware

Altman Z-Score does not apply to financial companies.


FUJIFILM Holdings Altman Z-Score Related Terms

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FUJIFILM Holdings (TSE:4901) Business Description

Traded in Other Exchanges
Address
7-3, Akasaka 9-chome, Minato-ku, Tokyo, JPN, 107-0052
FUJIFILM Holdings Corp offers products and services used in photo development and film and photo taking processes. The company produces color films and single use cameras, color paper and chemicals, photofinishing equipment, film and photo processing services, electronic imaging such as digital cameras, optical devices such as camera modules for mobile phones, TV camera lenses and cine lenses, x-ray imaging systems and films, inkjet printers, flat panel materials, recording storage mediums such as data cartridges and videotape products, and office products such as office printers. The document solutions segment including office printers and the information solutions segment consisting of its x-ray imaging and data storage systems form most of the group's yearly revenue stream.

FUJIFILM Holdings (TSE:4901) Headlines

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