<![CDATA[Purpose – This study aims to analyze and compare the level and category of financial distress among textile companies listed on the Indonesia Stock Exchange (IDX) and the Dhaka Stock Exchange (DSE) using the Altman Z-Score model. The research seeks to identify differences in financial conditions and business resilience between textile industries in Indonesia and Bangladesh. Design/Methodology/Approach – This study employs a descriptive quantitative approach using secondary data from annual financial statements of textile companies during the 2018–2023 period. The research sample consists of 15 textile companies listed on the IDX and 34 textile companies listed on the DSE. Financial distress levels were analyzed by calculating the financial ratios included in the Altman Z-Score model and presenting the results descriptively to evaluate trends and changes in financial conditions over time. Findings – The findings indicate that most textile companies in Indonesia experience more vulnerable financial conditions compared with textile companies in Bangladesh, which generally demonstrate stronger financial stability. The differences are associated with factors such as operational cost efficiency and profitability stability, which appear to support better financial resilience among textile companies in Bangladesh. Originality/Value – This study contributes to comparative corporate finance research by examining financial distress conditions across textile industries in two emerging markets with similar industry characteristics but different levels of financial performance. The findings provide practical implications for company managers, investors, and stakeholders in developing corrective strategies to improve financial stability and prevent financial distress.]]>
