What is Eastman Kodak Co 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, Eastman Kodak Co's Probability of Financial Distress (%) is 0.18%.
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 Eastman Kodak Co's Probability of Financial Distress (%)
For the Specialty Business Services subindustry, Eastman Kodak Co'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.
Eastman Kodak Co's Probability of Financial Distress (%) Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, Eastman Kodak Co's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Eastman Kodak Co's Probability of Financial Distress (%) falls into.
Eastman Kodak Co 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 |
| = | -6.33 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.18% |
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).
Eastman Kodak Co (Eastman Kodak Co) Business Description
Traded in Other Exchanges
Address
343 State Street, Rochester, NY, USA, 14650
Eastman Kodak Co is a United States-based company. The company operates via several business segments: Traditional Printing, Digital Printing, Brand and Advanced Materials and Chemicals. The Traditional Printing segment which derives the majority of revenue offers digital and traditional products and services to various businesses, such as commercial print and book publishing, and this segment contributes over half of the total revenue. The company has a global business presence, with overseas markets accounting for a majority of revenue.
Executives
| Philippe D Katz |
director |
160 BROADWAY, NEW YORK NY 10038 |
| David Bovenzi |
director |
C/O EASTMAN KODAK COMPANY, 343 STATE STREET, ROCHESTER NY 14650 |
| Michael Sileck |
director |
C/O WORLD WRESTLING ENTERTAINMENT, INC., 1241 EAST MAIN STREET, STAMFORD CT 06902 |
| Randy Vandagriff |
officer: Vice President |
EASTMAN KODAK COMPANY, 343 STATE STREET, ROCHESTER NY 14650 |
| Kennedy Lewis Investment Management Llc |
director |
80 BROAD STREET, 22ND FLOOR, NEW YORK NY 10004 |
| Kennedy Lewis Capital Partners Master Fund Lp |
director |
80 BROAD STREET, 22ND FLOOR, NEW YORK NY 10004 |
| Kennedy Lewis Capital Partners Master Fund Iii Lp |
director |
111 WEST 33RD STREET, SUITE 1910, NEW YORK NY 10120 |
| Kennedy Lewis Gp Iii Llc |
director |
111 WEST 33RD STREET, SUITE 1910, NEW YORK NY 10120 |
| Kathleen B. Lynch |
director |
C/O EASTMAN KODAK COMPANY, 343 STATE STREET, ROCHESTER NY 14650 |
| Richard T Michaels |
officer: CAO and Corp. Controller |
C/O EASTMAN KODAK COMPANY, 343 STATE STREET, ROCHESTER NY 14650 |
| Darren Richman |
director |
80 BROAD STREET, 22ND FLOOR, NEW YORK NY 10004 |
| David Chene |
director |
80 BROAD STREET, 22ND FLOOR, NEW YORK NY 10004 |
| Kennedy Lewis Management Lp |
director |
225 LIBERTY STREET, SUITE 4210, NEW YORK NY 10281 |
| Klm Gp Llc |
director |
80 BROAD STREET, 22ND FLOOR, NEW YORK NY 10004 |
| Kennedy Lewis Investment Holdings Llc |
director |
111 WEST 33RD STREET, SUITE 1910, NEW YORK NY 10120 |
Eastman Kodak Co (Eastman Kodak Co) Headlines
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