What is Permianville Royalty Trust 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, Permianville Royalty Trust'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 Permianville Royalty Trust's Probability of Financial Distress (%)
For the Oil & Gas E&P subindustry, Permianville Royalty Trust'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.
Permianville Royalty Trust's Probability of Financial Distress (%) Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Permianville Royalty Trust's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Permianville Royalty Trust's Probability of Financial Distress (%) falls into.
Permianville Royalty Trust 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).
Permianville Royalty Trust (Permianville Royalty Trust) Business Description
Traded in Other Exchanges
N/A
Address
601 Travis Street, 16th Floor, Houston, TX, USA, 77002
Permianville Royalty Trust is a statutory trust which holds net profits interests in the profits from the sale of oil and natural gas production the sale of oil and natural gas production from primarily non-operated assets of both conventional properties in the States of Texas, Louisiana, and New Mexico as well as unconventional assets in the Permian and Haynesville basins.
Executives
| Permianville Holdings Llc |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
| Trident Capital Vi, L.p. |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
| Permianville Intermediary Llc - Series 3 |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
| Cross Ocean Partners Management Gp, Llc |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
| Cross Ocean Partners Management Lp |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
| Cross Ocean Usss Fund I (a) (cayman) Lp |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
| Cross Ocean Usss Gp Lp |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
| Cross Ocean Usss Gp Ltd |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
| Cross Ocean Usss Sif I Lp |
10 percent owner |
DANESMEAD PARTNERS LIMITED, ARTEMIS HOUSE, 67 FORT STREET, GRAND CAYMAN E9 KY1-1106 |
| Cross Ocean Usss Fund I (a) Del Feeder Lp |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
| Trident Vi, L.p. |
10 percent owner |
STONE POINT CAPITAL LLC, 20 HORSENECK LANE, GREENWICH CT 06830 |
| Graham C Goldsmith |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
| Permianville Intermediary Llc - Series 2 |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
| Permianville Intermediary Llc - Series 1 |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
| Gg Managers Llc |
10 percent owner |
20 HORSENECK LANE, GREENWICH CT 06830 |
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