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FindevTSXV:FDI -1.41%57 Altman Z-Score is 11.09 as of Jul. 15, 2026, which is 51% below its 10-year median of 22.48. GuruFocus rates TSXV:FDI with a GF Score™ of 57/100 and a GF Value™ of C$0.32 (Fairly Valued). The stock has 2 warning signs investors should review. Among 47 Banks companies, Findev ranks better than 89.36% 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 9.57 is strong.
Findev has a Altman Z-Score of 11.09, 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 Findev's Altman Z-Score or its related term are showing as below:
TSXV:FDI'
s Altman Z-Score Range Over the Past 10 Years
Min: -15.4 Med: 22.48 Max: 37.42
Current: 9.57
During the past 13 years, Findev's highest Altman Z-Score was 37.42. The lowest was -15.40. And the median was 22.48.
Findev (TSXV:FDI) 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.
Findev Altman Z-Score Related Terms
Findev Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Findev'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.
TSXV:FDI vs RKT, FNMA, PFSI: Altman Z-Score Comparison
For the Mortgage Finance subindustry, Findev'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.
Findev Altman Z-Score vs Banks Industry
For the Banks industry and Financial Services sector, Findev's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Findev'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.
Findev'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
*
0.5406
+
1.4
*
-1.4226
+
3.3
*
-0.3062
+
0.6
*
22.1836
+
1.0
*
0.1315
=
11.09
* 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.
Findev (TSXV:FDI) has a Altman Z-Score of 11.09 as of Jul. 15, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Findev and its competitors. This is 51% below median its historical median of 22.48. According to the industry distribution chart, Findev ranks #5 out of 47 companies in the Banks industry, placing it in the top 10.6%.
Is Findev's Altman Z-Score too high?
Findev's current Altman Z-Score of 11.09 is 51% below median its 10-year median of 22.48. The Banks industry median Altman Z-Score is 1.41. Findev's value of 11.09 is 686.5% above this industry median. Based on the distribution chart, Findev ranks #5 out of 47 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Findev has a GF Score™ of 57/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Findev's Altman Z-Score compare to RKT and FNMA?
According to the Banks industry distribution chart, Findev ranks #5 out of 47 companies for Altman Z-Score. This places Findev in the top 11% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 1.41. Findev's value of 11.09 is 686.5% above this benchmark. While the company's 10-year median is 22.48 vs. the industry median of 1.41, Findev 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 Banks company?
The median Altman Z-Score among Banks companies is 1.41, based on 47 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. Findev's current Altman Z-Score of 11.09 is 686.5% 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 Findev and its competitors. For the Banks industry, the median Altman Z-Score is 1.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Findev's current Altman Z-Score is 11.09, which is 51% below median its own 10-year median of 22.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Findev stock overvalued right now?
Based on GuruFocus' analysis, Findev (TSXV:FDI) is currently considered Fairly Valued. The stock's GF Value™ is C$0.32, compared to a current price of C$0.35 — trading 9.4% above its estimated fair value. The current Altman Z-Score is 11.09, which is 51% below median its 10-year median of 22.48 and 686.5% above the Banks industry median of 1.41. Findev's overall GF Score™ is 57/100 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 Findev (TSXV:FDI), the current Altman Z-Score is 11.09 as of Jul. 15, 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 Findev (TSXV:FDI) Overvalued in 2026?
Based on GuruFocus' analysis, Findev stock appears to be overvalued.
The current stock price of C$0.35 is trading 9.4% above its estimated GF Value™ of C$0.32.
GuruFocus considers Findev to be Fairly Valued.
Key valuation signals for TSXV:FDI:
Altman Z-Score: 11.09 (51% below median its 10-year median of 22.48)
GF Value™: C$0.32 vs. price of C$0.35 (9.4% above fair value)
Industry Position: 686.5% above the Banks median (#5 of 47)
No single metric tells the full story. See the TSXV:FDI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Findev Inc is a real estate financing company that lends money to real estate projects that are identified as uniquely positioned to generate above average returns in a two to three year timeframe.
57GF Score
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