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Toshin Holdings CoTSE:9444 +0.87%38 Altman Z-Score is 0.57 as of Jul. 25, 2026, which is 51% below its 10-year median of 1.16. GuruFocus rates TSE:9444 with a GF Score™ of 38/100 and a GF Value™ of 円652.03 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 1,114 Retail - Cyclical companies, Toshin Holdings Co ranks worse than 90.84% 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 0.24 is in distress zone. This implies bankruptcy possibility in the next two years.
Toshin Holdings Co has a Altman Z-Score of 0.57, 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 Toshin Holdings Co's Altman Z-Score or its related term are showing as below:
TSE:9444'
s Altman Z-Score Range Over the Past 10 Years
Min: 0.21 Med: 1.16 Max: 1.96
Current: 0.24
During the past 13 years, Toshin Holdings Co's highest Altman Z-Score was 1.96. The lowest was 0.21. And the median was 1.16.
Toshin Holdings Co (TSE:9444) 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.
Toshin Holdings Co Altman Z-Score Related Terms
Toshin Holdings Co Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Toshin Holdings Co'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:9444 vs CASY, WSM, DKS: Altman Z-Score Comparison
For the Specialty Retail subindustry, Toshin Holdings 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.
Toshin Holdings Co Altman Z-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Toshin Holdings Co's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Toshin Holdings Co'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.
Toshin Holdings Co'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
*
-0.166
+
1.4
*
0.0496
+
3.3
*
0.0347
+
0.6
*
0.0707
+
1.0
*
0.5395
=
0.57
* 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.
Toshin Holdings Co (TSE:9444) has a Altman Z-Score of 0.57 as of Jul. 25, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Toshin Holdings Co and its competitors. This is 51% below median its historical median of 1.16. Over the past decade, Toshin Holdings Co's Altman Z-Score has ranged from 0.21 to 1.96. According to the industry distribution chart, Toshin Holdings Co ranks #1012 out of 1114 companies in the Retail - Cyclical industry, placing it in the top 90.8%.
Is Toshin Holdings Co's Altman Z-Score too high?
Toshin Holdings Co's current Altman Z-Score of 0.57 is 51% below median its 10-year median of 1.16. Over the past 10 years, this metric has ranged from a low of 0.21 to a high of 1.96. The Retail - Cyclical industry median Altman Z-Score is 2.75. Toshin Holdings Co's value of 0.57 is 79.3% below this industry median. Based on the distribution chart, Toshin Holdings Co ranks #1012 out of 1114 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Toshin Holdings Co has a GF Score™ of 38/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Toshin Holdings Co's Altman Z-Score compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, Toshin Holdings Co ranks #1012 out of 1114 companies for Altman Z-Score. This places Toshin Holdings Co in the lower half of its industry. The industry median Altman Z-Score is 2.75. Toshin Holdings Co's value of 0.57 is 79.3% below this benchmark. Historically, Toshin Holdings Co's own Altman Z-Score has ranged from 0.21 to 1.96 over the past decade. While the company's 10-year median is 1.16 vs. the industry median of 2.75, Toshin Holdings Co 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 Retail - Cyclical company?
The median Altman Z-Score among Retail - Cyclical companies is 2.75, based on 1,114 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. Toshin Holdings Co's current Altman Z-Score of 0.57 is 79.3% 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 Toshin Holdings Co and its competitors. For the Retail - Cyclical industry, the median Altman Z-Score is 2.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Toshin Holdings Co's current Altman Z-Score is 0.57, which is 51% below median its own 10-year median of 1.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toshin Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Toshin Holdings Co (TSE:9444) is currently considered Possible Value Trap. The stock's GF Value™ is 円652.03, compared to a current price of 円233.00 — trading 64.3% below its estimated fair value. The current Altman Z-Score is 0.57, which is 51% below median its 10-year median of 1.16 and 79.3% below the Retail - Cyclical industry median of 2.75. Toshin Holdings Co's overall GF Score™ is 38/100 with 6 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 Toshin Holdings Co (TSE:9444), the current Altman Z-Score is 0.57 as of Jul. 25, 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 Toshin Holdings Co (TSE:9444) Overvalued in 2026?
Based on GuruFocus' analysis, Toshin Holdings Co stock appears to be undervalued.
The current stock price of 円233.00 is trading 64.3% below its estimated GF Value™ of 円652.03.
GuruFocus considers Toshin Holdings Co to be Possible Value Trap.
Key valuation signals for TSE:9444:
Altman Z-Score: 0.57 (51% below median its 10-year median of 1.16)
GF Value™: 円652.03 vs. price of 円233.00 (64.3% below fair value)
Industry Position: 79.3% below the Retail - Cyclical median (#1012 of 1114)
No single metric tells the full story. See the TSE:9444 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Toshin Holdings Co Ltd is engaged in the sale of mobile phone and other communication equipment. It also offers leasing and sale of real estate properties, provides asset management services, operates golf courses and restaurants, sales drinking water. Its other business includes OA equipment sales, air conditioner sales, drinking water sales, rental conference room operation, golfers salon management.
38GF Score
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