Altman Z-Score Calculator
Estimate bankruptcy risk (public manufacturing model)
How to Use This Calculator
Fill in the financial statement inputs from your latest period. Click Calculate to see the Z-Score and the corresponding risk zone.
Formula
Z = 1.2X1 + 1.4X2 + 3.3X3 + 0.6X4 + 1.0X5
X1 = Working Capital / Total Assets
X2 = Retained Earnings / Total Assets
X3 = EBIT / Total Assets
X4 = Market Value of Equity / Total Liabilities
X5 = Sales / Total Assets
About Altman Z-Score Calculator
The Altman Z-Score predicts the probability of corporate bankruptcy using five financial ratios. This implementation reflects the original public manufacturing model.
Interpreting Results
- Safe Zone: Z > 2.99
- Grey Zone: 1.81 ≤ Z ≤ 2.99
- Distress Zone: Z < 1.81
Frequently Asked Questions
Which Altman model is used?
The public manufacturing (original) model with coefficients 1.2, 1.4, 3.3, 0.6, and 1.0.
Can I use this for private or non-manufacturing firms?
Those require alternative coefficients. This tool targets public manufacturing firms.
Which period should I use for inputs?
Use the latest annual or trailing-twelve-months values consistently across inputs.