What is Rockley Photonics Holdings 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, Rockley Photonics Holdings'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 Rockley Photonics Holdings's Probability of Financial Distress (%)
For the Semiconductors subindustry, Rockley Photonics Holdings'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.
Rockley Photonics Holdings's Probability of Financial Distress (%) Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Rockley Photonics Holdings's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Rockley Photonics Holdings's Probability of Financial Distress (%) falls into.
Rockley Photonics Holdings 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).
Rockley Photonics Holdings (Rockley Photonics Holdings) Business Description
Traded in Other Exchanges
N/A
Address
1 Ashley Road, 3rd Floor, Altrincham, Cheshire, GBR, WA14 2DT
Rockley Photonics Holdings Ltd is a global provider of sensing products comprised of integrated optical modules with supporting electronics, software, application algorithms, and AI platforms for high-volume applications in dynamic and high-growth market sectors. It developed a comprehensive range of silicon photonics technologies that have both the power and the flexibility to support a wide range of potential applications. Its silicon-phonics platform will incorporate several key components to support these solutions, including photonic integrated circuits and associated modules, sensors, and end-to-end solutions.
Executives
| Richard A Meier |
officer: President & CFO |
C/O INTERSECT ENT, INC., 1555 ADAMS DRIVE, MENLO PARK CA 94025 |
| Richard Kuntz |
director |
MEDTRONIC, INC., 710 MEDTRONIC PWKY MS LC 310, MINNEAPOLIS MN 55432 |
| Chad David Becker |
officer: Interim CFO |
234 E COLORADO BLVD. #600, PASADENA CA 91101 |
| Brian J Blaser |
director |
561 CIRCLE LANE, LAKE FOREST IL 60045 |
| Andrew George Rickman |
director, 10 percent owner, officer: Chief Executive Officer |
HAREDOWN FARM, GREAT BEDWYN,, MARLBOROUGH, WILTSHIRE X0 SN8 3ND |
| Mahesh Karanth |
officer: Chief Financial Officer |
128 BOYER LANE, LOS GATOS CA 95030 |
| Amit Nagra |
officer: Chief Operating Officer |
965 WAPELLO STREET, ALTADENA CA 91001 |
| Henke Nicolaus |
director |
1 ASHLEY ROAD, 3RD FLOOR, ALTRINCHAM, CHESHIRE X0 WA142DT |
| William Huyett |
director |
1123 MONUMENT STREET, CONCORD MA 01742 |
| Karim Karti |
director |
C/O IRHYTHM TECHNOLOGIES, INC., 650 TOWNSEND STREET, SUITE 500, SAN FRANCISCO CA 94103 |
| Michele Klein |
director |
469 MINOCA ROAD, PORTOLA VALLEY CA 94028 |
| Pamela Puryear |
director |
253 DOLPHIN COVE QUAY, STAMFORD CT 06902 |
| Caroline Brown |
director |
22 WILBERFORCE ROAD, CAMBRIDGE X0 CB3 0EQ |
Rockley Photonics Holdings (Rockley Photonics Holdings) Headlines
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