What is Qualstar 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, Qualstar's Probability of Financial Distress (%) is 0.01%.
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 Qualstar's Probability of Financial Distress (%)
For the Electrical Equipment & Parts subindustry, Qualstar'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.
Qualstar's Probability of Financial Distress (%) Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Qualstar's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Qualstar's Probability of Financial Distress (%) falls into.
Qualstar 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 |
| = | -8.99 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.01% |
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).
Qualstar (Qualstar) Business Description
Traded in Other Exchanges
N/A
Address
1 Jenner, Suite 200, Irvine, CA, USA, 92618
Qualstar Corp is a U.S based provider of data storage systems marketed under the Qualstar brand and of power solutions marketed under the N2Power brand. The company's segments include Power Supplies and Data Storage. Under the Power Supplies segment, it designs, manufactures and sells open frame switching power supplies. Under the Data Storage segment, it designs, manufactures and sells automated magnetic tape libraries used to store, retrieve and manage electronic data in network computing environments. It has its geographic presence in North America, Europe.
Executives
| Joy C. Hou |
director |
C/O QUALSTAR CORPORATION, 1267 FLYNN ROAD, CAMARILLO CA 93012 |
| Steven N Bronson |
director, 10 percent owner, officer: Chief Executive Officer |
|
| William J Gervais |
10 percent owner |
1925 ANGUS AVENUE, UNIT B, SIMI VALLEY CA 93063 |
| Leonard Hagan |
director |
650 THOMAS AVENUE, BALDWIN NY 11510 |
| Bkf Capital Group Inc |
10 percent owner |
1 JENNER, SUITE 200, IRVINE CA 92618 |
| Bkf Asset Holdings, Inc. |
10 percent owner |
3990-B HERITAGE OAK COURT, SIMI VALLEY CA 93063 |
| David John Wolenski |
director |
5328 W. BURGUNDY PL., LITTLETON CO 80123 |
| Nicholas Yarymovych |
director |
1716 ADDISON ROAD, PALOS VERDES ESTATES CA 90274 |
| Louann Negrete |
officer: Chief Financial Officer |
31248 OAK CREST DR. SUITE 120, WESTLAKE VILLAGE CA 91361 |
| Miller Lloyd I Iii |
10 percent owner |
|
| Sean Michael Leder |
director |
31248 OAK CREST DRIVE, SUITE 120, WEST LAKE VILLAGE CA 91361 |
| Jan Daniel Ko Chieh |
officer: Executive Vice President |
4401 MAR ESCARPA, SAN CLEMENTE CA 92673 |
| William J Lurie |
officer: VP Engineering |
3990-B HERITAGE OAK CT., SIMI VALLEY CA 93063 |
| Dale Edward Wallis |
director |
2221 SW 118TH STREET, OKLAHOMA CITY OK 73170 |
| Alan B Howe |
director |
1155 KAS DRIVE SUITE 100, RICHARDSON TX 75081 |
Qualstar (Qualstar) Headlines
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
QBAK has been successfully added to your