What is Eagle Bulk Shipping 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, Eagle Bulk Shipping's Probability of Financial Distress (%) is 0.02%.
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 Eagle Bulk Shipping's Probability of Financial Distress (%)
For the Marine Shipping subindustry, Eagle Bulk Shipping'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.
Eagle Bulk Shipping's Probability of Financial Distress (%) Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Eagle Bulk Shipping's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Eagle Bulk Shipping's Probability of Financial Distress (%) falls into.
Eagle Bulk Shipping 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 |
| = | -8.31 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.02% |
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).
Eagle Bulk Shipping (Eagle Bulk Shipping) Business Description
Traded in Other Exchanges
Address
300 First Stamford Place, 5th Floor, Stamford, CT, USA, 06902
Eagle Bulk Shipping Inc is a U.S.-based, fully integrated shipowner-operator, providing global transportation solutions to miners, producers, traders and end users. The company is engaged in the ocean transportation of drybulk cargoes worldwide through the ownership, charter and operation of drybulk vessels. The company focuses on the versatile midsize drybulk vessel segment. The Company's fleet is comprised of Supramax and Ultramax drybulk carriers.
Executives
| Justin A. Knowles |
director |
9-10 ST. ANDREW SQUARE, EDINBURGH X0 EH2 2AF |
| Castor Maritime Inc. |
10 percent owner |
CHRISTODOULOU CHATZIPAVLOU 223, HAWAII ROYAL GARDENS, APART. 16, LIMASSOL G4 3036 |
| Gary Vogel |
director, officer: Chief Executive Officer |
C/O EAGLE BULK SHIPPING INC., 477 MADISON AVENUE, NEW YORK NY 10022 |
| Oaktree Fund Gp I, L.p. |
10 percent owner |
333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
| Danaos Corp |
10 percent owner |
14 AKTI KONDYLI, 185 45 PIRAEUS, ATHENS J3 00000 |
| Oaktree Capital I, L.p. |
10 percent owner |
333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
| Ocm Holdings I, Llc |
10 percent owner |
333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
| Oaktree Holdings, Llc |
10 percent owner |
333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
| Oaktree Fund Gp, Llc |
10 percent owner |
333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
| Bam Partners Trust |
10 percent owner |
181 BAY STREET, SUITE 300, TORONTO A6 M5J 2T3 |
| Tsoutsoplides Constantine |
officer: Chief Financial Officer |
C/O EAGLE BULK SHIPPING INC., 300 FIRST STAMFORD PLACE, STAMFORD CT 06902 |
| Alexandra Kate Blankenship |
director |
33 BENEDICT PLACE, 2ND FLOOR, GREENWICH CT 06830 |
| De Costanzo Frank |
officer: Chief Financial Officer |
C/O EAGLE BULK SHIPPING INC., 300 FIRST STAMFORD PLACE, 5TH FLOOR, STAMFORD CT 06902 |
| Randee E Day |
director |
217 DEBRA LANE, PALM BEACH FL 33480 |
| Oaktree Capital Group Holdings Gp, Llc |
10 percent owner |
333 SOUTH GRAND AVENUE, 28TH FLOOR, LOS ANGELES CA 90071 |
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