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 3.89 is strong.
Asseco South Eastern Europe has a Altman Z-Score of 3.81, 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 Asseco South Eastern Europe's Altman Z-Score or its related term are showing as below:
WAR:ASE'
s Altman Z-Score Range Over the Past 10 Years
Min: 2.67 Med: 3.7 Max: 5.57
Current: 3.89
During the past 13 years, Asseco South Eastern Europe's highest Altman Z-Score was 5.57. The lowest was 2.67. And the median was 3.70.
Asseco South Eastern Europe (WAR:ASE) 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.
* 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.
WAR:ASE vs CRM, SHOP, UBER: Altman Z-Score Comparison
For the Software - Application subindustry, Asseco South Eastern Europe'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.
Asseco South Eastern Europe Altman Z-Score vs Software Industry
For the Software industry and Technology sector, Asseco South Eastern Europe's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Asseco South Eastern Europe's Altman Z-Score falls into.
Asseco South Eastern Europe 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.
* 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.
Asseco South Eastern Europe (WAR:ASE) has a Altman Z-Score of 3.81 as of Jun. 26, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Asseco South Eastern Europe and its competitors. This is near median its historical median of 3.70. Over the past decade, Asseco South Eastern Europe's Altman Z-Score has ranged from 2.67 to 5.57. According to the industry distribution chart, Asseco South Eastern Europe ranks #1134 out of 2764 companies in the Software industry, placing it in the top 41%.
Is Asseco South Eastern Europe's Altman Z-Score too high?
Asseco South Eastern Europe's current Altman Z-Score of 3.81 is near median its 10-year median of 3.70. Over the past 10 years, this metric has ranged from a low of 2.67 to a high of 5.57. The Software industry median Altman Z-Score is 3.14. Asseco South Eastern Europe's value of 3.81 is 21.5% above this industry median. Based on the distribution chart, Asseco South Eastern Europe ranks #1134 out of 2764 companies in the Software industry, which is above the industry midpoint. Overall, Asseco South Eastern Europe has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Asseco South Eastern Europe's Altman Z-Score compare to CRM and SHOP?
According to the Software industry distribution chart, Asseco South Eastern Europe ranks #1134 out of 2764 companies for Altman Z-Score. This puts Asseco South Eastern Europe in the upper half of its industry. The industry median Altman Z-Score is 3.14. Asseco South Eastern Europe's value of 3.81 is 21.5% above this benchmark. Historically, Asseco South Eastern Europe's own Altman Z-Score has ranged from 2.67 to 5.57 over the past decade. While the company's 10-year median is 3.70 vs. the industry median of 3.14, Asseco South Eastern Europe 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 3.14, based on 2,764 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. Asseco South Eastern Europe's current Altman Z-Score of 3.81 is 21.5% 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 Asseco South Eastern Europe and its competitors. For the Software industry, the median Altman Z-Score is 3.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asseco South Eastern Europe's current Altman Z-Score is 3.81, which is near median its own 10-year median of 3.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asseco South Eastern Europe stock overvalued right now?
Based on GuruFocus' analysis, Asseco South Eastern Europe (WAR:ASE) is currently considered Fairly Valued. The stock's GF Value™ is zł58.87, compared to a current price of zł59.90 — trading 1.7% above its estimated fair value. The current Altman Z-Score is 3.81, which is near median its 10-year median of 3.70 and 21.5% above the Software industry median of 3.14. Asseco South Eastern Europe's overall GF Score™ is 86/100 with 3 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 Asseco South Eastern Europe (WAR:ASE), the current Altman Z-Score is 3.81 as of Jun. 26, 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 Asseco South Eastern Europe (WAR:ASE) Overvalued in 2026?
Based on GuruFocus' analysis, Asseco South Eastern Europe stock appears to be overvalued.
The current stock price of zł59.90 is trading 1.7% above its estimated GF Value™ of zł58.87.
GuruFocus considers Asseco South Eastern Europe to be Fairly Valued.
Key valuation signals for WAR:ASE:
Altman Z-Score: 3.81 (near median its 10-year median of 3.70)
GF Value™: zł58.87 vs. price of zł59.90 (1.7% above fair value)
Industry Position: 21.5% above the Software median (#1134 of 2764)
No single metric tells the full story. See the WAR:ASE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asseco South Eastern Europe SA along with its subsidiaries provides implementation, integration and outsourcing services. It conducts business operations in the markets of Poland, South Eastern Europe, and Turkey. Its business is divided into three operating segments. Banking Solutions segment deals with integrated banking systems based on the Oracle and Microsoft platforms, including primarily core banking systems. Payment Solutions is engaged in the sale and maintenance of ATMs and POS terminals (point of sale) as well as in the provision of related support services. Systems Integration segment is engaged in the development of customized IT systems, integration of third-party software and elements of infrastructure, as well as in the sale and installation of hardware solutions.
86GF Score
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