What is Fluent 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, Fluent's Probability of Financial Distress (%) is 0.73%.
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 Fluent's Probability of Financial Distress (%)
For the Advertising Agencies subindustry, Fluent'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.
Fluent's Probability of Financial Distress (%) Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Fluent's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Fluent's Probability of Financial Distress (%) falls into.
Fluent 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 |
| = | -4.92 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.73% |
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).
Fluent (Fluent) Business Description
Traded in Other Exchanges
Address
300 Vesey Street, 9th Floor, New York, NY, USA, 10282
Fluent Inc is a data-driven digital marketing services company. It performs customer acquisition services by operating digital marketing campaigns, through which it connects its advertiser clients with consumers they are seeking to reach. It delivers data and performance-based marketing executions to its clients, such as consumer brands, direct marketers and agencies across a wide range of industries, including Financial Products & Services, Media & Entertainment, Health & Wellness, Staffing & Recruitment and Retail & Consumer. Geographically it earns key revenue from the U.S segment.
Executives
| Matthew Conlin |
other: President of Fluent, LLC |
C/O IDI, INC., 2650 NORTH MILITARY TRAIL, SUITE 300, BOCA RATON FL 33431 |
| Ryan Schulke |
director, other: CEO of Fluent, LLC |
C/O IDI, INC., 2650 NORTH MILITARY TRAIL, SUITE 300, BOCA RATON FL 33431 |
| Ryan Macnab Perfit |
officer: Interim CFO |
C/O FLUENT INC. (N/K/A COGINT, INC.), 33 WHITEHALL STREET, 15TH FLOOR, NEW YORK NY 10004 |
| Frost Gamma Investments Trust |
other: Joint Filer |
4400 BISCAYNE BLVD, MIAMI FL 33137 |
| Frost Phillip Md Et Al |
10 percent owner |
4400 BISCAYNE BLVD, MIAMI FL 33137-3227 |
| Donald Huntley Patrick |
officer: COO |
C/O FLUENT INC. (N/K/A COGINT, INC.), 33 WHITEHALL STREET, 15TH FLOOR, NEW YORK NY 10004 |
| Sugandha Khandelwal |
officer: Chief Financial Officer |
C/O FLUENT, INC., 300 VESEY STREET, 9TH FLOOR, NEW YORK NY 10282 |
| David Allen Graff |
director |
300 VESEY STREET, NEW YORK NY 10282 |
| Pfenniger Richard C Jr |
director |
4400 BISCAYNE BLVD., MIAMI FL 33137 |
| Carla Newell |
director |
528 RAMONA STREET, PALO ALTO CA 94301 |
| Alexander Mandel |
officer: Chief Financial Officer |
1061 MARKET STREET, 6TH FLOOR, SAN FRANCISCO CA 94103 |
| Kohn Barbara Shattuck |
director |
PENN NATIONAL GAMING, INC, 825 BERKSHIRE BLVE, SUITE 200, WYOMISSING PA 19610 |
| Peter Benz |
director |
171 MADISON AVE., 17 FL.,, NEW YORK NY 10016 |
| Michael Brauser |
director |
4400 BISCAYNE BLVD., SUITE 850, MIAMI FL 33137 |
| Andrew J Frawley |
director |
C/O EXCHANGE APPLICATIONS INC, 89 SOUTH STREET, BOSTON MA 02111 |
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