What is Daybreak Oil & Gas 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, Daybreak Oil & Gas'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 Daybreak Oil & Gas's Probability of Financial Distress (%)
For the Oil & Gas E&P subindustry, Daybreak Oil & Gas'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.
Daybreak Oil & Gas's Probability of Financial Distress (%) Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Daybreak Oil & Gas's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Daybreak Oil & Gas's Probability of Financial Distress (%) falls into.
Daybreak Oil & Gas 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).
Daybreak Oil & Gas (Daybreak Oil & Gas) Business Description
Traded in Other Exchanges
N/A
Address
1101 North Argonne Road, Suite A 211, Spokane Valley, WA, USA, 99212
Daybreak Oil & Gas Inc is a United States-based independent oil and natural gas company engaged in the exploration, development, and production of crude oil and natural gas. It is developing its shallow oil reserves, where it owns a 3-D seismic survey under lease in Kern County, California, and Michigan. The company's operational projects include the East Slopes Project and the Michigan Basin Project.
Executives
| Gaelic Resources Ltd |
10 percent owner |
14 ALBERT STREET, DOUGLAS Y8 IM1 2QA |
| Darren Williams |
director |
9200 OAKDALE AVENUE, SUITE 900, LOS ANGELES CA 91311 |
| James F Westmoreland |
director, 10 percent owner, officer: President & CEO |
1101 N. ARGONNE ROAD, SUITE A 211, SPOKANE VALLEY WA 99212 |
| James F. Meara |
director |
C/O 601 W. MAIN AVENUE, SUITE 1012, SPOKANE WA 99201 |
| Timothy R Lindsey |
director |
1101 N. ARGONNE ROAD, SUITE A211, SPOKANE VALLEY WA 99212 |
| Maximilian Investors Llc |
10 percent owner |
152 WEST 57TH STREET, 54TH FLOOR, NEW YORK NY 10019 |
| Wayne G Dotson |
director |
601 W. MAIN AVE., SUITE 1012, SPOKANE WA 99201 |
| Karol Lynn Adams |
officer: Corporate Secretary |
DAYBREAK OIL AND GAS, INC., 601 WEST MAIN AVE., SUITE 1012, SPOKANE WA 99201 |
| Anna Moe |
other: Spouse of director |
8305 NORTH COLTON PLACE, SPOKANE WA 99208 |
| Keith Hooper |
10 percent owner |
1529 WEST ADAMS STREET, CHICAGO IL 60607 |
| Benjamin Wade Anderson |
officer: Chief Operating Officer |
1023 E 760 S, OREM UT 84097 |
| Eric Moe |
officer: Chief Executive Officer |
8305 NORTH COLTON PLACE, SPOKANE WA 99208 |
| Robert N Martin |
director, officer: President |
621 B 37 STREET SW, CALGARY A0 T3C 1R8 |
| Jeffrey Robert Dworkin |
director, officer: Secretary |
320 1001 13 AVENUE SW, CALGARY A0 T2R 0L5 |
| Curtis Michael Charles Peter |
director |
161 DES CEDRES, ST. EUSTACHE A8 J6R 4V7 |
Daybreak Oil & Gas (Daybreak Oil & Gas) Headlines
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