What is BlackRock Municipalome Fund 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, BlackRock Municipalome Fund's Probability of Financial Distress (%) is 0.03%.
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 BlackRock Municipalome Fund's Probability of Financial Distress (%)
For the Asset Management subindustry, BlackRock Municipalome Fund'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.
BlackRock Municipalome Fund's Probability of Financial Distress (%) Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, BlackRock Municipalome Fund's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where BlackRock Municipalome Fund's Probability of Financial Distress (%) falls into.
BlackRock Municipalome Fund 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 |
| = | -8.06 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.03% |
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 banks, 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).
BlackRock Municipalome Fund (BlackRock Municipalome Fund) Business Description
Traded in Other Exchanges
N/A
Address
100 Bellevue Parkway, Wilmington, DE, USA, 19809
BlackRock Municipal Income Fund Inc Formerly Blackrock Muni Interm Duration Fund Inc is a diversified investment fund with an investment objective is to provide common shareholders with high current income exempt from U.S. federal income taxes. The company invests in Transportation, Health, Utilities, Education, Housing, and other sectors.
Executives
| Bank Of America Corp /de/ |
10 percent owner |
BANK OF AMERICA CORPORATE CENTER, 100 N TRYON ST, CHARLOTTE NC 28255 |
| Karpus Management, Inc. |
10 percent owner |
183 SULLY'S TRAIL, PITTSFORD NY 14534 |
| Arthur Philip Steinmetz |
director |
50 HUDSON YARDS, NEW YORK NY 10001 |
| Aaron David Wasserman |
officer: Chief Compliance Officer |
50 HUDSON YARDS, NEW YORK NY 10001 |
| Peter Hayes |
other: Officer of the Advisor |
100 BELLEVUE PARKWAY, WILMINGTON DE 19809 |
| Walter Oconnor |
other: Portfolio Manager |
800 SCUDDERS MILL ROAD, PLAINSBORO NJ 08536 |
| Phillip Soccio |
other: Portfolio Manager |
100 BELLEVUE PARKWAY, WILMINGTON DE 19809 |
| Kevin Maloney |
other: Portfolio Manager |
55 EAST 52ND STREET, NEW YORK NY 10055 |
| Kristi Manidis Santiago |
other: Portfolio Manager |
1 UNIVERSITY SQUARE DRIVE, PRINCETON NJ 08540 |
| Christian Romaglino |
other: Portfolio Manager |
55 EAST 52ND STREET, NEW YORK NY 10055 |
| Jpmorgan Chase Bank, N.a. |
10 percent owner |
1111 POLARIS PARKWAY, COLUMBUS OH 43240 |
| Banc Of America Preferred Funding Corp |
10 percent owner |
214 NORTH TRYON STREET, CHARLOTTE NC 28255 |
| Lorenzo Flores |
director |
2100 LOGIC DRIVE, SAN JOSE CA 95124 |
| James Phillip Holloman |
director |
P.O. BOX 625737, 6800 CINTAS BOULEVARD, CINCINNATI OH 45262 |
| Stayce D. Harris |
director |
1999 S. BASCOM AVE., SUITE 700, CAMPBELL CA 95008 |
BlackRock Municipalome Fund (BlackRock Municipalome Fund) Headlines
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