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Altman Z2-Score, also known as Z"-Score, is used to predict the likelihood that a non-manufacturing company (excluding property/financial company) will face bankruptcy within a two-year period.
Warning Sign:
ACC Aviation Holdings has a Altman Z2-Score of -225.48, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
The zones of discrimination were as such:
When Altman Z2-Score <= 1.1, it is in Distress Zones.
When Altman Z2-Score >= 2.6, it is in Safe Zones.
When Altman Z2-Score is between 1.1 and 2.6, it is in Grey Zones.
The historical rank and industry rank for ACC Aviation Holdings's Altman Z2-Score or its related term are showing as below:
During the past 12 years, ACC Aviation Holdings's highest Altman Z2-Score was 899.71. The lowest was -225.48. And the median was 53.53.
The historical data trend for ACC Aviation Holdings's Altman Z2-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.
ACC Aviation Holdings Annual Data | |||||||||||||||||||||
Trend | Dec02 | Dec03 | Dec04 | Dec05 | Dec06 | Dec07 | Dec08 | Dec17 | Dec18 | Dec19 | |||||||||||
Altman Z2-Score | Get a 7-Day Free Trial | -59.68 | -112.90 | 117.91 | -10.86 | -150.30 |
ACC Aviation Holdings Quarterly Data | ||||||||||||||||||||
Jun08 | Sep08 | Dec08 | Mar09 | Jun09 | Sep09 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Sep22 | Sep23 | |
Altman Z2-Score | Get a 7-Day Free Trial | -68.47 | - | -150.30 | - | -225.48 |
For the Shell Companies subindustry, ACC Aviation Holdings's Altman Z2-Score, along with its competitors' market caps and Altman Z2-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.
For the Diversified Financial Services industry and Financial Services sector, ACC Aviation Holdings's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where ACC Aviation Holdings's Altman Z2-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.
Z2-Score, also known as Z"-Score is the Z-Score for non-manufacturing companies excluding property/financial companies.
ACC Aviation Holdings's Altman Z2-Score for today is calculated with this formula:
Z | = | 6.56 | * | X1 | + | 3.26 | * | X2 | + | 6.72 | * | X3 | + | 1.05 | * | X4_2 |
= | 6.56 | * | 0.4876 | + | 3.26 | * | -55.876 | + | 6.72 | * | -8.8678 | + | 1.05 | * | 12.4444 | |
= | -225.48 |
* 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 Z2-Score when X4_2 value is 0.
Trailing Twelve Months (TTM) ended in Sep. 2023:
Total Assets was $0.12 Mil.
Total Current Assets was $0.07 Mil.
Total Current Liabilities was $0.01 Mil.
Retained Earnings was $-6.76 Mil.
Pre-Tax Income was 0 + -0.001 + -0.586 + -0.486 = $-1.07 Mil.
Interest Expense was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Liabilities was $0.01 Mil.
* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.
X1 | = | Working Capital | / | Total Assets |
= | (Total Current Assets - Total Current Liabilities) | / | Total Assets | |
= | (0.068 - 0.009) | / | 0.121 | |
= | 0.4876 |
X2 | = | Retained Earnings | / | Total Assets |
= | -6.761 | / | 0.121 | |
= | -55.876 |
X3 | = | Earnings Before Interest and Taxes | / | Total Assets |
= | (Pre-Tax Income - Interest Expense) | / | Total Assets | |
= | (-1.073 - 0) | / | 0.121 | |
= | -8.8678 |
X4_2 | = | Net Worth | / | Total Liabilities |
= | (Total Stockholders Equity - Preferred Stock) | / | Total Liabilities | |
= | (0.112 - 0) | / | 0.009 | |
= | 12.4444 |
The zones of discrimination were as such:
Distress Zones - 1.1 < Grey Zones < 2.6 - Safe Zones
ACC Aviation Holdings has a Altman Z2-Score of -225.48 indicating it is in Distress Zones.
ACC Aviation Holdings (OTCPK:CAVG) Altman Z2-Score Explanation
The original Z-Score model was based on publicly traded manufacturing companies while the Z2-Score, also known as Z"-score can be used for any type of company excluding property/financial companies. Both Z-Score and Z2-Score describes the financial health of a company, and its likelihood of financial distress.
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_2, Net Worth (Total Stockholders Equity - Preferred Stock)/Total Liabilities (NW/TL): it compares a company’s stock net worth with its total liabilities and can be used to assess the extent of its reliance on debt.
Read more about Altman Z2-Score, the original research on Z-Score and the additional research on Z2-Score.
Be Aware
Altman Z2-Score does not apply to financial companies.
Thank you for viewing the detailed overview of ACC Aviation Holdings's Altman Z2-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Shai Marco Cohen | 10 percent owner | 5509 WINDMIER CIRCLE, DALLAS TX 75252 |
Mnsco, Llc | 10 percent owner | 1 BEN GURION ST., B.S.R. TOWER 2, BUEI BRAK L3 5120149 |
Oded Gilboa | officer: Chief Financial Officer | 23 AKIVA STREET, #14, RAANANA L3 4326103 |
Michael D Greenfield | director | P O B 12526, HERZLIYA PILEACH L3 46733 |
Pete Mateja | officer: CEO | 207 PIAGET AVENUE, CLIFTON NJ 07011 |
Joseph Bahat | director | 2 HABAAL-SHEM-TOV STREET, HERZLIA L3 46342 |
Jacob Enoch | director | #4 SHNITZER SHMUEL ST, TEL-AVIV L3 695 |
Edward Braniff | officer: Interim CEO & CFO | 207 PIAGET AVENUE, CLIFTON NJ 07011 |
Jerome Chaney | officer: CEO and President | 207 PIAGET AVENUE, CLIFTON NJ 07011 |
Aharon Y Levinas | director, officer: Chief Technology Officer | 8 04 ARNOT PLACE, FAIR LOAN NJ 07410 |
Tamir Levinas | director | 60 12 MAZE STREET, TEL AVIV L3 65789 |
Robert Lubin | director | TEL AVIV, TEL AVIV L3 00000 |
Amir Uziel | director, 10 percent owner, officer: President and CEO | RISHON LEZION, RISHON LEZION L3 75749 |
Adam Jacob Somer | director, officer: Treasurer | 2753 BROADWAY 197, NEW YORK NY 10025 |
Matthew Haney | director | 1368 S ALPINE LOOP, PROVO UT 84606 |
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