What is Johnson Outdoors 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, Johnson Outdoors'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 Johnson Outdoors's Probability of Financial Distress (%)
For the Leisure subindustry, Johnson Outdoors'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.
Johnson Outdoors's Probability of Financial Distress (%) Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Johnson Outdoors's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Johnson Outdoors's Probability of Financial Distress (%) falls into.
Johnson Outdoors 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 |
| = | -8.02 |
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).
Johnson Outdoors (Johnson Outdoors) Business Description
Traded in Other Exchanges
N/A
Address
555 Main Street, Racine, WI, USA, 53403
Johnson Outdoors Inc is a manufacturer and marketer of branded seasonal, outdoor recreation products used for fishing from a boat, diving, paddling, hiking and camping. The company has four operating segment: Fishing, Camping, Watercraft Recreation, and Diving. It generates maximum revenue from the Fishing segment which produces and markets products under different brands such as Minn Kota electric motors for quiet trolling or primary propulsion, marine battery chargers and shallow water anchors; Humminbird sonar and GPS equipment for fish finding, navigation and marine cartography; and Cannon downriggers for controlled-depth fishing. Geographically, it derives a majority of revenue from the United States and also has a presence in Europe, Canada, and other regions.
Executives
| David W Johnson |
officer: VP and Chief Financial Officer |
C/O JOHNSON OUTDOORS INC., 555 MAIN STREET, RACINE WI 53403 |
| Jeffrey M Stutz |
director |
855 EAST MAIN, ZEELAND MI 49464 |
| Fahey John M Jr |
director |
C/O NATINAL GEOGRAPHIC, 1146 17TH STREET NW, WASHINTON DC 20036 |
| Liliann Annie Zipfel |
director |
555 MAIN STREET, RACINE WI 53403 |
| Paul Garvin Alexander |
director |
2400 MASSACHUSETTS AVENUE, LEXINGTON MA 02421 |
| Pyle Thomas F Jr |
director |
3500 CORBEN COURT, MADISON WI 53704 |
| Edward F Lang |
director |
C/O JOHNSON OUTDOORS INC., 555 MAIN STREET, RACINE WI 53403 |
| Terry E London |
director |
100 PIER 1 PLACE, FORT WORTH TX 76102 |
| Richard Case Sheahan |
director |
C/O JOHNSON OUTDOORS INC., 555 MAIN STREET, RACINE WI 53403 |
| William D Perez |
director |
|
| Edward A Stevens |
director |
555 MAIN STREET, RACINE WI 53403 |
| Katherine Button Bell |
director |
10 PICARDY LANE, ST LOUIS MO 63124 |
| Towerview Llc |
10 percent owner |
460 PARK AVENUE, NEW YORK NY 10022 |
| Johnson Leipold Helen P |
director, 10 percent owner, officer: Chairman and CEO |
C/OJ/K MANAGEMENT SERVICES INC, 555 MAIN STREET, RACINE WI 53403-1015 |
| Daniel R Tisch |
10 percent owner |
460 PARK AVENUE, NEW YORK NY 10022 |
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