About Simple Z-score Calculator
Financial analysts first assess the viability of a business using Altman’s Z-score. Corporate failure is linked to a series of actions which relate to the company’s fundamentals, and in the long-term reflect the...
Financial analysts first assess the viability of a business using Altman’s Z-score. Corporate failure is linked to a series of actions which relate to the company’s fundamentals, and in the long-term reflect the likelihood of a business going bankrupt. According to this statement, Prof. E. I. Altman developed in 1968 a multivariate statistical model considering a linear combination of several financial ratios that allow to differentiate between failing companies and non-failing ones.
The result obtained from the model gives what is known as the Z-score. Low values indicate the company has a high probability of failing while high values predict the company is less likely to fail. In fact, Altman’s seminal work predicted correctly 72% of the bankrupted companies two years prior to the event.
However, the Z-score is an explanatory tool rather than an instrument to forecast business viability, and this tool should only be used as a baseline or a first approach to viability assessment. For instance, Altman himself suggests to analyse thoroughly those companies with lower Z-index values while resources and time can be saved with those obtaining higher values.
Previous Versions
Here you can find the changelog of Simple Z-score Calculator since it was posted on our website on 2016-10-02 07:41:04.
The latest version is 1.35 and it was updated on 2024-04-22 17:28:06. See below the changes in each version.
Simple Z-score Calculator version 1.35
Updated At: 2018-10-02
Changes: Update Android SDK
Simple Z-score Calculator version 1.31
Updated At: 2015-07-28
Changes: [1.31] Improved user interface.,[1.24] Merged with UK version (includes Taffler calculation).,[1.22] Improved calculation speed.,[1.21] Now allows to install in your SD card.,[1.05] Includes new company typology: non-manufacturing companies or emerging markets companies.,[1.00] Calculates probability of default by means of the normal density function approximation.
Disclaimer
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