Quhuo Limited Sponsored ADR
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Quhuo Limited Sponsored ADR (QH) Altman Z-score
Quhuo Limited Sponsored ADR's Altman Z-score for fiscal 2025 is −0.23, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −0.23 | (1.69) |
| FY2024 | 1.46 | (0.51) |
| FY2023 | 1.98 | (0.19) |
| FY2022 | 2.16 | 0.48 |
| FY2021 | 1.69 | 0.22 |
| FY2020 | 1.46 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.01 | — | 0.02 | |
| Retained earnings / total assets | (1.91) | — | −2.67 | |
| EBIT / total assets | (0.22) | — | −0.74 | |
| Market value of equity / total liabilities | 0.00 | — | 0.00 | |
| Sales / total assets | 3.16 | — | 3.16 | |
| Altman Z-score | Distress zone | −0.23 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −6.82 | ||
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 |
|---|---|
| PLTS Platinum Analytics Cayman Limited compare | 136× |
| MFI mF International Limited compare | 19.8× |
| YB Yuanbao Inc. - Sponsored ADR compare | 5.1× |
| HKD AMTD Digital Inc. Sponsored ADR compare | 2.2× |
| RMNI Rimini Street, Inc. compare | 1.1× |
| API Agora, Inc. Sponsored ADR compare | 1.0× |
| QH Quhuo Limited Sponsored ADR | −0.2× |
| CRNC Cerence Inc. compare | −0.9× |
| ENRD Einride AB - Sponsored ADR compare | — |
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