QIWI PLC
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QIWI PLC (QIWI) Altman Z-score
QIWI PLC's Altman Z-score for fiscal 2024 cannot be worked out: no share price in the week to the fiscal year end.
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2023 | 1.63 | (0.60) |
| FY2022 | 2.23 | (0.25) |
| FY2021 | 2.48 | 0.36 |
| FY2020 | 2.12 | 0.17 |
| FY2019 | 1.96 | 0.27 |
| FY2018 | 1.68 | (1.01) |
| FY2017 | 2.69 | (0.09) |
| FY2016 | 2.78 | (0.50) |
| FY2015 | 3.29 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.84 | — | 1.01 | |
| Retained earnings / total assets | 0.37 | — | 0.51 | |
| EBIT / total assets | (0.12) | — | −0.41 | |
| Market value of equity / total liabilities | — | — | n/a | — |
| Sales / total assets | 0.10 | — | 0.10 | |
| Altman Z-score | n/a — no share price in the week to the fiscal year end | — | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 21.54 | ||
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 |
|---|---|
| IMXI INTERNATIONAL MONEY EXPRESS, INC. compare | 3.6× |
| CINT CI&T Inc. compare | 3.1× |
| LSAK Lesaka Technologies, Inc. compare | 2.2× |
| TLS Telos Corporation compare | 2.2× |
| SUPX SuperX AI Technology Limited compare | 1.1× |
| AIOT PowerFleet, Inc. compare | 0.7× |
| RPAY Repay Holdings Corporation compare | −0.9× |
| NUAI New Era Energy & Digital, Inc. compare | −6.7× |
| QIWI QIWI PLC | — |
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