What is National Energy Services Reunited 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, National Energy Services Reunited'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 National Energy Services Reunited's Probability of Financial Distress (%)
For the Oil & Gas Equipment & Services subindustry, National Energy Services Reunited'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.
National Energy Services Reunited's Probability of Financial Distress (%) Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Energy Services Reunited's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where National Energy Services Reunited's Probability of Financial Distress (%) falls into.
National Energy Services Reunited 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).
National Energy Services Reunited (National Energy Services Reunited) Business Description
Traded in Other Exchanges
N/A
Address
777 Post Oak Boulevard, Suite 730, Houston, TX, USA, 77056
National Energy Services Reunited Corp is a British Virgin Islands-based company engaged in providing products and services to the oil and gas industry in the Middle East and North Africa and the Asia Pacific regions. The company has two reportable segments: Production Services including coil tubing, stimulation, and pumping, nitrogen services, completions, pipelines, cementing, laboratory services and filtration services; and Drilling and Evaluation Services including drilling and workover rigs, rig services, services, and well-testing services among others. Revenues are majorly derived from production services of an oil or natural gas well.
Executives
| Melissa Cougle |
officer: Chief Financial Officer |
777 POST OAK BLVD., 7TH FLOOR, HOUSTON TX 77056 |
| Adnan Ghabris |
director |
PO BOX 346036 DUBAI C0 00000 |
| Al Noaimi Salem Rashed Abdulla Ali |
director |
AERCAP HOUSE, 65 ST. STEPHEN'S GREEN, DUBLIN L2 2 |
| Capital Pjsc Waha |
10 percent owner |
LEVEL 42, TOWER 3, ETIHAD TOWERS PO BOX 28922 ABU DHABI C0 00000 |
| Thomas D Wood |
director, 10 percent owner, officer: CFO |
NATIONAL ENERGY SERVICES REUNITED CORP., 777 POST OAK BLVD, HOUSTON TX 77056 |
| Campo Mejia Antonio J |
director |
NATIONAL ENERGY SERVICES REUNITED CORP. 777 POST OAK BLVD. HOUSTON TX 77056 |
| Waha Energy Ltd |
10 percent owner |
C/O MAPLES CORPORATE SERVICES LIMITED PO BOX 309, UGLAND HOUSE GRAND CAYMAN E9 KY1-1104 |
| Nesr Spv Ltd |
10 percent owner |
C/O MAPLES CORPORATE SERVICES LIMITED PO BOX 309, UGLAND HOUSE GRAND CAYMAN E9 KY1-1104 |
| Olayan Saudi Holding Co |
10 percent owner |
P.O. BOX 8772, OLAYAN CENTER, AHSAA STREET RIYADH T0 11492 |
| Olayan Financing Co Ltd. |
10 percent owner |
P.O. BOX 8772, OLAYAN CENTER, AHSAA STREET RIYADH T0 11492 |
| Christine J Morris |
officer: Chief Financial Officer |
NATIONAL ENERGY SERVICES REUNITED CORP. 777 POST OAK BLVD., 7TH FLOOR HOUSTON TX 77056 |
| Olayan International Ltd |
10 percent owner |
C/O 111 POSEIDONOS AVE., GLYFADA ATHENS J3 166 10 |
| Olayan Investments Co Establishment |
10 percent owner |
111 POSEIDONOS AVENUE GLYFADA ATHENS J3 166 10 |
| Sherif Foda |
director, 10 percent owner, officer: CEO |
C/O SCHLUMBERGER LIMITED, 5599 SAN FELIPE, 17TH FLOOR, HOUSTON TX 77056 |
| Nesr Holdings Ltd. |
10 percent owner |
RITTER HOUSE WICKHAMS CAY II, ROAD TOWN TORTOLA D8 VG1110 |
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