What is Bridgford Foods Probability of Financial Distress (%)?
Probability of Financial Distress (%) measures the probability that a company will go bankrupt in the upcoming year given its current financial position. A higher ratio indicates a larger probability of bankruptcy for the company, while a lower ratio indicates a healthier fundamental. As of today, Bridgford Foods's Probability of Financial Distress (%) is 0.03%.
Like the Altman Z-Score, the PFD measures a company's bankruptcy risk. However, the main drawback of the Z-score is it does not apply to banks and insurance companies. According to Investopedia, the concept of "working capital" does not apply to banks and insurance companies, as financial institutions do not have typical current assets or current liabilities like inventories or accounts payable.
Competitive Comparison of Bridgford Foods's Probability of Financial Distress (%)
For the Packaged Foods subindustry, Bridgford Foods's Probability of Financial Distress (%), along with its competitors' market caps and Probability of Financial Distress (%) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Bridgford Foods's Probability of Financial Distress (%) Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Bridgford Foods's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Bridgford Foods's Probability of Financial Distress (%) falls into.
Bridgford Foods Probability of Financial Distress (%) Calculation
Probability of Financial Distress (%) (PFD) was developed by John Campbell, Jens Hilscher and Jan Szilagyi in their Search of Distress Risk. It measures the probability that a company will go bankrupt within the next 12 months given its current financial position.
The Probability of Financial Distress (%) was obtained by a logit probability model based on eight explanatory variables. The logit formula to compute the probability of financial distress (LPFD) is given below:
| LPFD | = | -20.12 * NIMTAAVG | + | 1.60 * TLMTA | - | 7.88 * EXRETAVG | + | 1.55 * SIGMA | - | 0.005 * RSIZE | - | 2.27 * CASHMTA | + | 0.070 * MB | - | 0.09 * PRICE | - | 8.87 |
| = | -8.20 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.03% |
The eight explanatory variables are:
1. NIMTAAVG = Net Income to Market Total Assets
*Note that for companies reported quarterly, geometrically declining weighted quarterly Net Income data in latest four quarters are used.
2. TLMTA = Total liabilities to Market Total Assets
3. CASHMTA = Cash to Market Total Assets
For non-financial companies, CASHMTA is measured as:
4. EXRETAVG = Excess Return compared to the S&P 500
EXRETAVG is the weighted excess return compared to the S&P 500 in past 12 month. Geometrically declining weights are imposed on the monthly excess return to reflect lagged information. The weight is halved each quarter.
5. SIGMA = Standard Deviation of Daily Returns
For sigma, we use the annualized standard deviation of a company's returns over the past 92 days (or 63 trading days).
6. RSIZE = Relative Size
| RSIZE | = | log (Market Cap | / | Total Market Cap of S&P 500 companies) |
7. MB = Market to Adjusted Book Equity Ratio
8. PRICE
PRICE is measured as the log of the stock price, capped at log(15).
Bridgford Foods (Bridgford Foods) Business Description
Traded in Other Exchanges
N/A
Address
1707 South Good-Latimer Expressway, Dallas, TX, USA, 75226
Bridgford Foods Corp manufactures, markets, and distributes frozen and snack food products in the United States. The business segments are processing and distribution of frozen products, and processing and distribution of snack food products. It includes products such as biscuits, bread dough items, roll dough items, dry sausage products, and beef jerky. The company offers frozen food products to the foodservice and retail customers through wholesalers, cooperatives, and distributors; and snack food items to supermarkets, and mass merchandise and convenience retail stores through customer-owned distribution centers, as well as a direct store delivery network. It derives a majority of its revenue from snack food products.
Executives
| Richard Eugene Bridgford |
other: VP, Ind. Relations & Safety |
170 N GREEN ST, CHICAGO IL 60607 |
| Brian E. Bridgford |
other: V.P. Production |
170 N. GREEN STREET, CHICAGO IL 60661 |
| Juan Luis Silva |
other: V.P. Plant Superintendent |
3414 STONE CREEK DR, JOLIET IL 60435 |
| Allan Jr. Bridgford |
director |
515 MARGUERITE AVENUE, CORONA DEL MAR CA 92625 |
| Dennis Gregory Scott |
director |
9595 WILSHIRE BLVD., SUITE 710, BEVERLY HILLS CA 90212 |
| Baron Bridgford |
other: President, BFI. |
P.O. BOX 3773, ANAHEIM CA 92803 |
| Christopher William Cole |
other: Senior Vice President |
1415 W. 44TH STREET, CHICAGO IL 60609 |
| Bridgford Baron R.h. Ii |
officer: President |
1415 W. 44TH STREET, CHICAGO IL 60609 |
| Cindy Matthews-morales |
officer: CFO, Secretary |
1308 N. PATT STREET, ANAHEIM CA 92801 |
| Michael W. Bridgford |
officer: Chairman of the Board |
1308 N. PATT STREET, ANAHEIM CA 92801 |
| Mary S Schott |
director |
2990 AIRWAY AVENUE, BUILDING A, COSTA MESA CA 92626 |
| Debra Aileen Dealcuaz |
other: Treasurer, Bridgford Indust. |
6432 CONNIE LANE, ROCKWALL TX 75032 |
| Bruce Bridgford |
director |
P.O. BOX 3773, ANAHEIM CA 92803 |
| William L Bridgford |
director, officer: Chairman |
P.O. BOX 3773, ANAHEIM CA 92803 |
| Raymond F. Lancy |
director, officer: CFO, TREAS, ASST SEC |
1308 N. PATT ST.,, ANAHEIM CA 92801 |
Bridgford Foods (Bridgford Foods) Headlines
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