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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 1.73 is in distress zone. This implies bankruptcy possibility in the next two years.
Tupperware Brands has a Altman Z-Score of 1.73, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
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 Tupperware Brands's Altman Z-Score or its related term are showing as below:
During the past 13 years, Tupperware Brands's highest Altman Z-Score was 4.97. The lowest was 1.73. And the median was 3.98.
The historical data trend for Tupperware Brands'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.
Tupperware Brands Annual Data | |||||||||||||||||||||
Trend | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | |||||||||||
Altman Z-Score | Get a 7-Day Free Trial | 4.03 | 2.98 | 3.68 | 3.61 | 2.78 |
Tupperware Brands Quarterly Data | ||||||||||||||||||||
Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | |
Altman Z-Score | Get a 7-Day Free Trial | 3.35 | 2.78 | 2.35 | 1.98 | 1.73 |
For the Packaging & Containers subindustry, Tupperware Brands'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.
For the Packaging & Containers industry and Consumer Cyclical sector, Tupperware Brands's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Tupperware Brands'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.
Tupperware Brands'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 | * | -0.908 | + | 1.4 | * | 0.9726 | + | 3.3 | * | -0.0771 | + | 0.6 | * | 0.0499 | + | 1.0 | * | 1.6805 | |
= | 1.73 |
* 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.
Trailing Twelve Months (TTM) ended in Sep. 2023:
Total Assets was $680 Mil.
Total Current Assets was $426 Mil.
Total Current Liabilities was $1,043 Mil.
Retained Earnings was $661 Mil.
Pre-Tax Income was -45.6 + -21 + -30.1 + -33.1 = $-130 Mil.
Interest Expense was -22.3 + -17.8 + -15.5 + -21.8 = $-77 Mil.
Revenue was 259.6 + 276.3 + 292.4 + 313.6 = $1,142 Mil.
Market Cap (Today) was $60 Mil.
Total Liabilities was $1,204 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 | |
= | (426.4 - 1043.4) | / | 679.5 | |
= | -0.908 |
X2 | = | Retained Earnings | / | Total Assets |
= | 660.9 | / | 679.5 | |
= | 0.9726 |
X3 | = | Earnings Before Interest and Taxes | / | Total Assets |
= | (Pre-Tax Income - Interest Expense) | / | Total Assets | |
= | (-129.8 - -77.4) | / | 679.5 | |
= | -0.0771 |
X4 | = | Market Value Equity | / | Book Value of Total Liabilities |
= | Market Cap | / | Total Liabilities | |
= | 60.024 | / | 1203.9 | |
= | 0.0499 |
X5 | = | Revenue | / | Total Assets |
= | 1141.9 | / | 679.5 | |
= | 1.6805 |
The zones of discrimination were as such:
Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones
Tupperware Brands has a Altman Z-Score of 1.73 indicating it is in Distress Zones.
Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.
Tupperware Brands (NYSE:TUP) 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.
Read more about Altman Z-Score and the original research.
Be Aware
Altman Z-Score does not apply to financial companies.
Thank you for viewing the detailed overview of Tupperware Brands's Altman Z-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Lori H Bush | director | NU SKIN ENTERPRISES INC, 75 WEST CENTER, PROVO UT 84601 |
Laurie Ann Goldman | officer: President and CEO | 3344 PEACHTREE ROAD, SUITE 1700, ATLANTA GA 30326 |
William L Transier | director | 3505 W SAM HOUSTON PKWY NORTH, SUITE 400, HOUSTON TX 77043 |
Paul Keglevic | director | STELLUS CAPITAL, 10000 MEMORIAL DRIVE STE 500, HOUSTON TX 77024 |
Paul Aronzon | director | 13135 DAIRY ASHFORD, SUITE 800, SUGAR LAND TX 77478 |
Brian J Fox | officer: Chief Restructuring Officer | C/O XERIUM TECHNOLOGIES, INC., 8537 SIX FORKS ROAD, SUITE 300, RALEIGH NC 27615 |
Richard Goudis | director, officer: Executive Vice Chairman | C/O HERBALIFE INTERNATIONAL, INC., 1800 CENTURY PARK EAST, LOS ANGELES CA 90067 |
Fernandez Calero Miguel Angel | director, officer: Chief Executive Officer | 800 W. OLYMPIC BLVD. SUITE 406, LOS ANGELES CA 90015 |
Mark S Burgess | director | C/O GRAHAM PACKAGING HOLDINGS COMPANY, 2410 PLEASANT VALLEY ROAD, YORK PA 17402 |
Ingen Jim Van | officer: EVP Supply Chain | C/O TUPPERWARE BRANDS CORPORATION, 14901 S ORANGE BLOSSOM TRAIL, ORLANDO FL 32837 |
Christopher D Oleary | director | ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426 |
James H Fordyce | director | |
Pamela Jones Harbour | director | C/O TUPPERWARE BRANDS CORPORATION, 14901 S ORANGE BLOSSOM TRAIL, ORLANDO FL 32837 |
Tim Minges | director | C/O TUPPERWARE BRANDS CORPORATION, 14901 S ORANGE BLOSSOM TRAIL, ORLANDO FL 32837 |
Hector Lezama | officer: Pres., Comm. Bus. Expansion | C/O TUPPERWARE BRANDS CORPORATION, 14901 S ORANGE BLOSSOM TRAIL, ORLANDO FL 32837 |
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