Itmax System BhdXKLS:5309 98 Altman Z-Score is 26.20 as of Jul. 01, 2026, which is 22% above its 10-year median of 21.52. GuruFocus rates XKLS:5309 with a GF Score™ of 98/100 and a GF Value™ of RM4.70 (Fairly Valued). The stock has 5 warning signs investors should review. Among 1,060 Business Services companies, Itmax System Bhd ranks better than 97.17% 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 26.01 is strong.
Itmax System Bhd has a Altman Z-Score of 26.20, 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 Itmax System Bhd's Altman Z-Score or its related term are showing as below:
XKLS:5309'
s Altman Z-Score Range Over the Past 10 Years
Min: 9.87 Med: 21.52 Max: 30.91
Current: 26.01
During the past 7 years, Itmax System Bhd's highest Altman Z-Score was 30.91. The lowest was 9.87. And the median was 21.52.
Itmax System Bhd (XKLS:5309) 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.
Itmax System Bhd Altman Z-Score Related Terms
Itmax System Bhd Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Itmax System Bhd'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.
XKLS:5309 vs ALLE, MSA, ADT: Altman Z-Score Comparison
For the Security & Protection Services subindustry, Itmax System 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.
Itmax System Bhd Altman Z-Score vs Business Services Industry
For the Business Services industry and Industrials sector, Itmax System Bhd's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Itmax System Bhd'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.
Itmax System Bhd'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
*
0.3224
+
1.4
*
0.4399
+
3.3
*
0.2246
+
0.6
*
40.0811
+
1.0
*
0.4124
=
26.20
* 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.
Itmax System Bhd (XKLS:5309) has a Altman Z-Score of 26.20 as of Jul. 01, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Itmax System Bhd and its competitors. This is 22% above median its historical median of 21.52. Over the past decade, Itmax System Bhd's Altman Z-Score has ranged from 9.87 to 30.91. According to the industry distribution chart, Itmax System Bhd ranks #30 out of 1060 companies in the Business Services industry, placing it in the top 2.8%.
Is Itmax System Bhd's Altman Z-Score too high?
Itmax System Bhd's current Altman Z-Score of 26.20 is 22% above median its 10-year median of 21.52. Over the past 10 years, this metric has ranged from a low of 9.87 to a high of 30.91. The Business Services industry median Altman Z-Score is 2.96. Itmax System Bhd's value of 26.20 is 786.6% above this industry median. Based on the distribution chart, Itmax System Bhd ranks #30 out of 1060 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Itmax System Bhd has a GF Score™ of 98/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Itmax System Bhd's Altman Z-Score compare to ALLE and MSA?
According to the Business Services industry distribution chart, Itmax System Bhd ranks #30 out of 1060 companies for Altman Z-Score. This places Itmax System Bhd in the top 3% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 2.96. Itmax System Bhd's value of 26.20 is 786.6% above this benchmark. Historically, Itmax System Bhd's own Altman Z-Score has ranged from 9.87 to 30.91 over the past decade. While the company's 10-year median is 21.52 vs. the industry median of 2.96, Itmax System Bhd 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 Business Services company?
The median Altman Z-Score among Business Services companies is 2.96, based on 1,060 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. Itmax System Bhd's current Altman Z-Score of 26.20 is 786.6% 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 Itmax System Bhd and its competitors. For the Business Services industry, the median Altman Z-Score is 2.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Itmax System Bhd's current Altman Z-Score is 26.20, which is 22% above median its own 10-year median of 21.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Itmax System Bhd stock overvalued right now?
Based on GuruFocus' analysis, Itmax System Bhd (XKLS:5309) is currently considered Fairly Valued. The stock's GF Value™ is RM4.70, compared to a current price of RM4.88 — trading 3.8% above its estimated fair value. The current Altman Z-Score is 26.20, which is 22% above median its 10-year median of 21.52 and 786.6% above the Business Services industry median of 2.96. Itmax System Bhd's overall GF Score™ is 98/100 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 Itmax System Bhd (XKLS:5309), the current Altman Z-Score is 26.20 as of Jul. 01, 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 Itmax System Bhd (XKLS:5309) Overvalued in 2026?
Based on GuruFocus' analysis, Itmax System Bhd stock appears to be overvalued.
The current stock price of RM4.88 is trading 3.8% above its estimated GF Value™ of RM4.70.
GuruFocus considers Itmax System Bhd to be Fairly Valued.
Key valuation signals for XKLS:5309:
Altman Z-Score: 26.20 (22% above median its 10-year median of 21.52)
GF Value™: RM4.70 vs. price of RM4.88 (3.8% above fair value)
Industry Position: 786.6% above the Business Services median (#30 of 1060)
No single metric tells the full story. See the XKLS:5309 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Itmax System Bhd is principally engaged in the business of supplying, installing, and providing public space networked systems and investment holding. The company develops networking solutions for smart video surveillance, smart parking, smart traffic management, smart street lighting and communication networks. Geographically, the company operates only in Malaysia.
98GF Score
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