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Stara Planina Holding ADXBUL:SPH 69 Altman Z-Score is 2.71 as of Jul. 19, 2026, which is 54% below its 10-year median of 5.89. GuruFocus rates XBUL:SPH with a GF Score™ of 69/100 and a GF Value™ of €10.19 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 3,007 Industrial Products companies, Stara Planina Holding AD ranks worse than 59.93% 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 2.71 is in the grey area. This implies that the company is under some kind of financial stress. If it is below 1.8, the company may face bankruptcy risk.
Stara Planina Holding AD has a Altman Z-Score of 2.71, indicating it is in Grey Zones. This implies that Stara Planina Holding AD is in some kind of financial stress. If it is below 1.81, the company may face bankrupcy risk.
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 Stara Planina Holding AD's Altman Z-Score or its related term are showing as below:
XBUL:SPH'
s Altman Z-Score Range Over the Past 10 Years
Min: 2.71 Med: 5.89 Max: 27.94
Current: 2.71
During the past 13 years, Stara Planina Holding AD's highest Altman Z-Score was 27.94. The lowest was 2.71. And the median was 5.89.
Stara Planina Holding AD (XBUL:SPH) 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.
XBUL:SPH vs GEV, ETN, PH: Altman Z-Score Comparison
For the Specialty Industrial Machinery subindustry, Stara Planina Holding AD'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.
Stara Planina Holding AD Altman Z-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Stara Planina Holding AD's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Stara Planina Holding AD's Altman Z-Score falls into.
Stara Planina Holding AD 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.
Stara Planina Holding AD (XBUL:SPH) has a Altman Z-Score of 2.71 as of Jul. 19, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Stara Planina Holding AD and its competitors. This is 54% below median its historical median of 5.89. Over the past decade, Stara Planina Holding AD's Altman Z-Score has ranged from 2.71 to 27.94. According to the industry distribution chart, Stara Planina Holding AD ranks #1802 out of 3007 companies in the Industrial Products industry, placing it in the top 59.9%.
Is Stara Planina Holding AD's Altman Z-Score too high?
Stara Planina Holding AD's current Altman Z-Score of 2.71 is 54% below median its 10-year median of 5.89. Over the past 10 years, this metric has ranged from a low of 2.71 to a high of 27.94. The Industrial Products industry median Altman Z-Score is 3.21. Stara Planina Holding AD's value of 2.71 is 15.6% below this industry median. Based on the distribution chart, Stara Planina Holding AD ranks #1802 out of 3007 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Stara Planina Holding AD has a GF Score™ of 69/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Stara Planina Holding AD's Altman Z-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Stara Planina Holding AD ranks #1802 out of 3007 companies for Altman Z-Score. This places Stara Planina Holding AD in the lower half of its industry. The industry median Altman Z-Score is 3.21. Stara Planina Holding AD's value of 2.71 is 15.6% below this benchmark. Historically, Stara Planina Holding AD's own Altman Z-Score has ranged from 2.71 to 27.94 over the past decade. While the company's 10-year median is 5.89 vs. the industry median of 3.21, Stara Planina Holding AD 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 an Industrial Products company?
The median Altman Z-Score among Industrial Products companies is 3.21, based on 3,007 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. Stara Planina Holding AD's current Altman Z-Score of 2.71 is 15.6% 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 Stara Planina Holding AD and its competitors. For the Industrial Products industry, the median Altman Z-Score is 3.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Stara Planina Holding AD's current Altman Z-Score is 2.71, which is 54% below median its own 10-year median of 5.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Stara Planina Holding AD stock overvalued right now?
Based on GuruFocus' analysis, Stara Planina Holding AD (XBUL:SPH) is currently considered Significantly Undervalued. The stock's GF Value™ is €10.19, compared to a current price of €4.64 — trading 54.5% below its estimated fair value. The current Altman Z-Score is 2.71, which is 54% below median its 10-year median of 5.89 and 15.6% below the Industrial Products industry median of 3.21. Stara Planina Holding AD's overall GF Score™ is 69/100 with 5 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 Stara Planina Holding AD (XBUL:SPH), the current Altman Z-Score is 2.71 as of Jul. 19, 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 Stara Planina Holding AD (XBUL:SPH) Overvalued in 2026?
Based on GuruFocus' analysis, Stara Planina Holding AD stock appears to be undervalued.
The current stock price of €4.64 is trading 54.5% below its estimated GF Value™ of €10.19.
GuruFocus considers Stara Planina Holding AD to be Significantly Undervalued.
Key valuation signals for XBUL:SPH:
Altman Z-Score: 2.71 (54% below median its 10-year median of 5.89)
GF Value™: €10.19 vs. price of €4.64 (54.5% below fair value)
Industry Position: 15.6% below the Industrial Products median (#1802 of 3007)
No single metric tells the full story. See the XBUL:SPH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Stara Planina Holding AD is a holding company. The company is engaged in the acquisition, management, evaluation, and sale of shareholdings in Bulgarian and foreign companies; acquisition, management, and sale of bonds, evaluation and sale of patents, transfer of licenses for the use of patents, belonging to companies where the holding company has participation; financing companies where the holding company has participations; other commercial operations, except those prohibited by law. The investment portfolio of the holding is distributed mainly in the following industries, Machine Building; Electrical Engineering, Light Industry, and Financial.
69GF Score
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