What is China Man-Made Fiber Financial Strength?
China Man-Made Fiber has the Financial Strength Rank of 3. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.
Warning Sign:
China Man-Made Fiber Corp displays poor financial strength. Usually, this is caused by too much debt for the company.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its
Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3.
Altman Z-Score.
China Man-Made Fiber's Interest Coverage for the quarter that ended in Mar. 2024 was 1.54.
China Man-Made Fiber's debt to revenue ratio for the quarter that ended in Mar. 2024 was 1.69.
As of today, China Man-Made Fiber's Altman Z-Score is -0.04.
Competitive Comparison of China Man-Made Fiber's Financial Strength
For the Chemicals subindustry, China Man-Made Fiber's Financial Strength, along with its competitors' market caps and Financial Strength 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.
China Man-Made Fiber's Financial Strength Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, China Man-Made Fiber's Financial Strength distribution charts can be found below:
* The bar in red indicates where China Man-Made Fiber's Financial Strength falls into.
China Man-Made Fiber Financial Strength Calculation
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
China Man-Made Fiber's Interest Expense for the
months ended in Mar. 2024 was NT$-3,048 Mil. Its Operating Income for the
months ended in Mar. 2024 was NT$4,701 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was NT$22,206 Mil.
China Man-Made Fiber's Interest Coverage for the quarter that ended in Mar. 2024 is
The higher the ratio, the stronger the company's financial strength is.
Warning Sign:
Ben Graham prefers companies' interest coverage to be at least 5. China Man-Made Fiber Corp interest coverage is 1.58, which is low.
2. Debt to revenue ratio. The lower, the better.
China Man-Made Fiber's Debt to Revenue Ratio for the quarter that ended in Mar. 2024 is
3. Altman Z-Score.
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.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
China Man-Made Fiber has a Z-score of -0.04, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
Warning Sign:
Altman Z-score of -0.04 is in distress zone. This implies bankruptcy possibility in the next two years.
* 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.
China Man-Made Fiber (TPE:1718) Business Description
Traded in Other Exchanges
N/A
Address
Xinsheng S. Road, 10-11th Floor, No. 50, Sector 1, Taipei City, TWN, 100
China Man-Made Fiber Corp makes and sells chemicals and fiber products, including polyester yarn and filament, and rayon yarn and fiber, which are used to make apparel, footwear, and industrial cloth. The company's chemical portfolio includes ethylene glycol, ethylene oxide, and nonylphenol, which are used to make antifreeze and engine coolants for the automobile industry. The chemicals are also used in snow and ice removal as well as explosives for the mining industry.
China Man-Made Fiber (TPE:1718) Headlines
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