What is Renovare Environmental 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, Renovare Environmental'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 Renovare Environmental's Probability of Financial Distress (%)
For the Pollution & Treatment Controls subindustry, Renovare Environmental'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.
Renovare Environmental's Probability of Financial Distress (%) Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Renovare Environmental's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Renovare Environmental's Probability of Financial Distress (%) falls into.
Renovare Environmental 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).
Renovare Environmental (Renovare Environmental) Business Description
Traded in Other Exchanges
N/A
Address
80 Red Schoolhouse Road, Suite 101, Chestnut Ridge, NY, USA, 10977
Renovare Environmental Inc, formerly BioHiTech Global Inc is a technology services company focused on providing cost-effective solutions that improve environmental outcomes. Its technologies for waste management include the patented processing of municipal solid waste into a valuable renewable fuel, biological disposal of food waste on-site, and proprietary real-time data analytics tools to reduce food waste generation. When used individually or in combination, the solution lowers the carbon footprint associated with waste transportation and can reduce or virtually eliminate landfill usage.
Executives
| Harriet Hentges |
director |
3222 SCOTT PLACE NW, WASHINGTON DC 20007 |
| Frank E. Celli |
director |
27 BRADLEY LANE, MONTVALE NJ 07645 |
| Frank E. Celli Family Trust |
10 percent owner |
80 RED SCHOOLHOUSE ROAD, SUITE 101, CHESTNUT RIDGE NY 10977 |
| Anthony Fuller |
director |
80 RED SCHOOLHOUSE ROAD, ATTN: BIOHITECH GLOBAL, INC., CHESTNUT RIDGE NY 10977 |
| Walter Iii Littlejohn |
director |
80 RED SCHOOLHOUSE ROAD, ATTN: BIOHITECH GLOBAL, INC,., CHESTNUT RIDGE NY 10977 |
| Nicholaus Rohleder |
director |
80 RED SCHOOLHOUSE ROAD, ATTN: BIOHITECH GLOBAL, INC., CHESTNUT RIDGE NY 10977 |
| Brian C. Essman |
officer: CHIEF FINANCIAL OFFICER |
59 ST JOHNS RD., WILTON CT 06897 |
| James D. Chambers |
director |
317 EATON LANDING DRIVE, ANNAPOLIS MD 21401 |
| Robert A. Joyce |
officer: Chief Operating Officer |
1818 SIGNAL HILL DRIVE, MECHANICSBURG PA 17050 |
| Van Oort Douglas M |
director |
12701 COMMONWEALTH DRIVE, SUITE 9, FORT MYERS FL 33913 |
| Bob G Gower |
10 percent owner |
402 TIMBERWILDE LANE, HOUSTON TX 77024 |
| Penn Venture Partners , L.p. |
other: 5% Shareholder |
132 STATE STREET, HARRISBURG PA 17101 |
| Conundrum Capital Partners, Llc |
10 percent owner |
317 EATON LANDING DRIVE, ANNAPOLIS MD 21401 |
| Robert A. Graham |
director |
112 CETON COURT, BROOMALL PA 19008 |
| John P. Glauda |
10 percent owner |
8409 CAESARS HEAD DRIVE, WAXHAW NC 28173 |
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