What is Rentrak 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, Rentrak's Probability of Financial Distress (%) is 0.00%.
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 Rentrak's Probability of Financial Distress (%)
For the Specialty Business Services subindustry, Rentrak'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.
Rentrak's Probability of Financial Distress (%) Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, Rentrak's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Rentrak's Probability of Financial Distress (%) falls into.
Rentrak 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 |
| = | 0.00 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.00% |
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).
Rentrak (Rentrak) Business Description
Traded in Other Exchanges
N/A
Address
Rentrak Corp is an Oregon corporation and was incorporated in 1977. It is a media measurement and information company serving the entertainment, television, video and advertising industries. The Company's Software as a Service technology merges census-based television viewership information from over 100 million TVs and devices with consumer behavior and purchase information across multiple platforms, devices and distribution channels. It also measures box office results from more than 125,000 movie screens in 47 countries. The Company processes and aggregates billions of data transactions from multiple screens wherever entertainment content is viewed, whether at the box office, on a television screen, over the internet, on a smart phone or other portable device. It measures live TV, recorded TV, Video-On-Demand and whether the content is free, purchased, rented, recorded, downloaded or streamed from multiple channels. These content databases provide stable and granular viewership information across every screen and are anonymously matched with third-party consumer segmentation and purchase databases using privacy compliant methodologies. By linking multiscreen viewership information with information about the products viewers consume and prefer, the Company provides its clients, such as content producers, distributors, advertisers and advertising agencies, with the knowledge necessary to effectively manage their businesses, program and market their networks and precisely target and sell their advertising inventory. Additionally, certain clients of the Company use the databases to populate programmatic buying systems. These systems automate the buying process and introduce efficiencies for both advertising agencies and their clients. The Company's media measurement services are distributed through patent pending software systems and business processes into two areas within the entertainment industry: - Movies Everywhere and TV Everywhere. The Company's Entertainment Essentials services are: TV Everywhere including TV Essentials and StationView Essentials; OnDemand Everywhere includes OnDemand Essentials, Over the Top measurement products and related products; Movies Everywhere includes domestic and international Box Office Essentials, PostTrak and PreAct; and Other Services include Studio Direct Revenue Sharing and other products relating to content in the home video rental industry. The Company's primary competitors are Nielsen, Kantar and TiVo. It owns two patents directed to techniques for extracting revenue information from point-of-sale terminals, as well as nine patents for linear data collection, projections and analysis. Among the linear TV patents are two for our sophisticated TV-off methodology, which accurately accounts for cases when the TV is turned off but the set-top box.
Executives
| David I. Chemerow |
officer: Chief Operating Officer & CFO |
PLAYBOY ENT., INC. - H. SHAPIRO, 680 N LAKE SHORE DRIVE, CHICAGO IL 60611 |
| Brent David Rosenthal |
director |
C/O WR HUFF ASSET MANAGEMENT, 67 PARK PLACE, MORRISTOWN NJ 07960 |
| Ralph R Shaw |
director |
3438 SW BRENTWOOD DRIVE, PORTLAND OR 97201 |
| William Paul Livek |
director, officer: Chief Executive Officer |
P O BOX 18888, PORTLAND OR 97218 |
| William E Engel |
director |
C/O RENTRAK CORPORATION, 7700 NE AMBASSADOR PLACE, PORTLAND OR 97220-1393 |
| Plc Wpp |
10 percent owner |
SEA CONTAINERS, 18 UPPER GROUND, LONDON X0 SE1 9GL |
| Patricia A. Gottesman |
director |
C/O WORLD WRESTLING ENTERTAINMENT, INC., 1241 EAST MAIN STREET, STAMFORD CT 06902 |
| Wpp Luxembourg Gamma Three S.a.r.l. |
10 percent owner |
124 BOULEVARD DE LA PETRUSSE, LUXEMBOURG N4 L-2330 |
| Anne Macdonald |
director |
200 CARILLON PARKWAY, ST PETERSBURG FL 33716 |
| Michelle Spencer |
officer: Sr VP Finance & Dep. CFO |
RENTRAK CORPORATION, 7700 NE AMBASSADOR PLACE, PORTLAND OR 97220 |
| Christopher T Wilson |
officer: President, National Linear TV |
7700 NE AMBASSADOR PLACE, PORTLAND OR 97220 |
| Richard Hochhauser |
director |
|
| Paul A Rosenbaum |
director, officer: Chairman of the Board |
2945 NW LURAY TERRACE, PORTLAND OR 97210 |
| Thomas D Allen |
director |
2101 E FOURTH ST, STE 202, SANTA ANA CA 92705 |
| Cecil D Andrus |
director |
350 N NINTH STREET, SUITE 202, BOISE ID 83702 |
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