Happy City Holdings Limited
HCHL Consumer Cyclical Restaurants
Happy City Holdings Limited’s revenue for fiscal 2025 (year ended August 2025) was $6.8 million, down 18.0% from fiscal 2024.
Follow HCHL
Happy City Holdings Limited (HCHL) Altman Z-score
Happy City Holdings Limited's Altman Z-score for fiscal 2025 is 5.45, in the safe zone (above 2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 5.45 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.10) | — | −0.13 | |
| Retained earnings / total assets | (0.32) | — | −0.45 | |
| EBIT / total assets | (0.28) | — | −0.94 | |
| Market value of equity / total liabilities | 10.19 | — | 6.11 | |
| Sales / total assets | 0.85 | — | 0.85 | |
| Altman Z-score | Safe zone | 5.45 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −3.24 | ||
Z and Z″ put Happy City Holdings Limited in different zones: safe zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| HCHL Happy City Holdings Limited | 5.5× |
| MB MasterBeef Group compare | 4.5× |
| BDL Flanigan's Enterprises, Inc. compare | 3.0× |
| RICK RCI Hospitality Holdings, Inc. compare | 1.6× |
| RRGB Red Robin Gourmet Burgers, Inc. compare | 1.6× |
| JACK Janus Henderson Sustainable & Impact Core Bond ETF compare | 1.5× |
| GENK GEN Restaurant Group, Inc. compare | 0.4× |
| VENU Venu Holding Corporation compare | 0.4× |
| NDLS Noodles & Company compare | 0.1× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets