What is Priveterra Acquisition II 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, Priveterra Acquisition II's Probability of Financial Distress (%) is 50.00%.
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 Priveterra Acquisition II's Probability of Financial Distress (%)
For the Shell Companies subindustry, Priveterra Acquisition II'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.
Priveterra Acquisition II's Probability of Financial Distress (%) Distribution in the Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, Priveterra Acquisition II's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Priveterra Acquisition II's Probability of Financial Distress (%) falls into.
Priveterra Acquisition II 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% |
| = | 50.00% |
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).
Priveterra Acquisition II Business Description
Traded in Other Exchanges
N/A
Address
501 Madison Avenue, 5th Floor, New York, NY, USA, 10019
Priveterra Acquisition Corp II is a blank check company.
Executives
| Cameron Piron |
director |
C/O TASTEMAKER ACQUISITION CORP., 1 PARK PLAZA, IRVINE CA 92614 |
| Bill Carpou |
director |
C/O TASTEMAKER ACQUISITION CORP., 1 PARK PLAZA, IRVINE CA 92614 |
| Dimitri Azar |
director |
C/O TASTEMAKER ACQUISITION CORP., 1 PARK PLAZA, IRVINE CA 92614 |
| Oleg Grodnensky |
director, 10 percent owner, officer: Chief Executive Officer |
300 SE 2ND STREET, SUITE 600, FORT LAUDERDALE FL 33301 |
| Polar Asset Management Partners Inc. |
10 percent owner |
16 YORK STREET SUITE 2900, TORONTO A6 M5J 0E6 |
| Glazer Capital, Llc |
10 percent owner |
250 WEST 55TH STREET, SUITE 30A, NEW YORK NY 10019 |
| Paul J Glazer |
10 percent owner |
250 WEST 55TH ST, SUITE 30A, NEW YORK NY 10019 |
| David Pace |
director, 10 percent owner, officer: Co-Chief Executive Officer |
|
| Richard L Federico |
director |
|
| Andrew R Heyer |
director |
501 MADISON AVENUE, FLOOR 5, NEW YORK NY 10019 |
| Starlette B Johnson |
director |
|
| Carl Andrew Pforzheimer |
director, 10 percent owner, officer: Co-Chief Executive Officer |
C/O US FOODS HOLDING CORP., 9399 W. HIGGINS RD., ROSEMONT IL 60018 |
| Christopher Bradley |
officer: CFO and Secretary |
650 5TH AVENUE, FLOOR 10, NEW YORK NY 10019 |
| Tastemaker Sponsor Llc |
10 percent owner |
650 FIFTH AVENUE, FLOOR 10, NEW YORK NY 10019 |
| Hal Rosser |
director |
650 FIFTH AVENUE, 10TH FLOOR, NEW YORK NY 10019 |
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