Smart Asia Chemical BhdXKLS:0306 +2.94%31 Altman Z-Score is 2.08 as of Jul. 03, 2026, which is 16% below its 10-year median of 2.48. GuruFocus rates XKLS:0306 with a GF Score™ of 31/100. The stock has 7 warning signs investors should review. Among 1,567 Chemicals companies, Smart Asia Chemical Bhd ranks worse than 68.99% 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 2.14 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.
Smart Asia Chemical Bhd has a Altman Z-Score of 2.08, indicating it is in Grey Zones. This implies that Smart Asia Chemical Bhd 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 Smart Asia Chemical Bhd's Altman Z-Score or its related term are showing as below:
XKLS:0306'
s Altman Z-Score Range Over the Past 10 Years
Min: 2.04 Med: 2.48 Max: 3.74
Current: 2.14
During the past 6 years, Smart Asia Chemical Bhd's highest Altman Z-Score was 3.74. The lowest was 2.04. And the median was 2.48.
Smart Asia Chemical Bhd (XKLS:0306) 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.
XKLS:0306 vs LIN, SHW, ECL: Altman Z-Score Comparison
For the Specialty Chemicals subindustry, Smart Asia Chemical Bhd'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.
Smart Asia Chemical Bhd Altman Z-Score vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Smart Asia Chemical Bhd's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Smart Asia Chemical Bhd's Altman Z-Score falls into.
Smart Asia Chemical Bhd 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.
Smart Asia Chemical Bhd (XKLS:0306) has a Altman Z-Score of 2.08 as of Jul. 03, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Smart Asia Chemical Bhd and its competitors. This is 16% below median its historical median of 2.48. Over the past decade, Smart Asia Chemical Bhd's Altman Z-Score has ranged from 2.04 to 3.74. According to the industry distribution chart, Smart Asia Chemical Bhd ranks #1081 out of 1567 companies in the Chemicals industry, placing it in the top 69%.
Is Smart Asia Chemical Bhd's Altman Z-Score too high?
Smart Asia Chemical Bhd's current Altman Z-Score of 2.08 is 16% below median its 10-year median of 2.48. Over the past 10 years, this metric has ranged from a low of 2.04 to a high of 3.74. The Chemicals industry median Altman Z-Score is 3.13. Smart Asia Chemical Bhd's value of 2.08 is 33.5% below this industry median. Based on the distribution chart, Smart Asia Chemical Bhd ranks #1081 out of 1567 companies in the Chemicals industry, which is below the industry midpoint. Overall, Smart Asia Chemical Bhd has a GF Score™ of 31/100, reflecting its overall financial health beyond just this single metric.
How does Smart Asia Chemical Bhd's Altman Z-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Smart Asia Chemical Bhd ranks #1081 out of 1567 companies for Altman Z-Score. This places Smart Asia Chemical Bhd in the lower half of its industry. The industry median Altman Z-Score is 3.13. Smart Asia Chemical Bhd's value of 2.08 is 33.5% below this benchmark. Historically, Smart Asia Chemical Bhd's own Altman Z-Score has ranged from 2.04 to 3.74 over the past decade. While the company's 10-year median is 2.48 vs. the industry median of 3.13, Smart Asia Chemical Bhd 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 Chemicals company?
The median Altman Z-Score among Chemicals companies is 3.13, based on 1,567 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. Smart Asia Chemical Bhd's current Altman Z-Score of 2.08 is 33.5% 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 Smart Asia Chemical Bhd and its competitors. For the Chemicals industry, the median Altman Z-Score is 3.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Smart Asia Chemical Bhd's current Altman Z-Score is 2.08, which is 16% below median its own 10-year median of 2.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Smart Asia Chemical Bhd stock overvalued right now?
Smart Asia Chemical Bhd (XKLS:0306) has a current Altman Z-Score of 2.08. The current Altman Z-Score is 2.08, which is 16% below median its 10-year median of 2.48 and 33.5% below the Chemicals industry median of 3.13. Smart Asia Chemical Bhd's overall GF Score™ is 31/100 with 7 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 Smart Asia Chemical Bhd (XKLS:0306), the current Altman Z-Score is 2.08 as of Jul. 03, 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.
Smart Asia Chemical Bhd is an investment holding company. Through its subsidiaries, it is involved in the development, manufacturing, distribution, and sale of decorative paints and protective coatings for household and industrial applications. Also involved in the development, manufacturing, distribution and sale of related products, namely colourants, and binding and coating chemicals; sale and trading of painting tools and accessories, aerosol spray paints and other related products to complement decorative paints and protective coatings offerings, ODM services of decorative paints, protective coatings as well as binding and coating chemicals for third party brand owners. Company has three segments manufacturing, sale and trading and other.
31GF Score
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