What is Village Farms International 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, Village Farms International's Probability of Financial Distress (%) is 0.20%.
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 Village Farms International's Probability of Financial Distress (%)
For the Farm Products subindustry, Village Farms International'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.
Village Farms International's Probability of Financial Distress (%) Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Village Farms International's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Village Farms International's Probability of Financial Distress (%) falls into.
Village Farms International 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 |
| = | -6.23 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.20% |
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).
Village Farms International (Village Farms International) Business Description
Traded in Other Exchanges
Address
4700 - 80th Street, Delta, BC, CAN, V4K 3N3
Village Farms International Inc owns and operates intensive agricultural greenhouse facilities in British Columbia and Texas, where it produces, markets and sells tomatoes, bell peppers and cucumbers. Its wholly owned subsidiary, Pure Sunfarms, is a vertically integrated licensed producer and supplier of cannabis products sold to other licensed providers and provincial governments across Canada and internationally. The Company's wholly owned subsidiary, Balanced Health, develops and sells, cannabidiol (CBD) based products including ingestible, edible and topical applications. Through its 70% ownership of Rose, the Company has a presence in the Province of Quebec as a cannabis supplier, producer and commercialization.
Executives
| Kathleen M Mahoney |
director |
C/O SPARTANNASH, 850 76TH SW, GRAND RAPIDS MI 49518 |
| Michael A Degiglio |
director, 10 percent owner, officer: Chief Executive Officer |
10 ALVIN CT, EAST BRUNSWICK NJ 08816 |
| John Patrick Henry |
director |
C/O VILLAGE FARMS INTERNATIONAL, INC., 195 INTERNATIONAL PARKWAY, SUITE 100, HEATHROW FL 32746 |
| Stephen C Ruffini |
director, officer: Chief Financial Officer |
C/O VILLAGE FARMS INTERNATIONAL, INC., 195 INTERNATIONAL PARKWAY, SUITE 100, HEATHROW FL 32746 |
| Ann Lefever Gillin |
officer: Executive Vice President |
C/O VILLAGE FARMS INTERNATIONAL, INC., 4700 80TH STREET, DELTA A1 V4K 3N3 |
| John R. Mclernon |
director |
200 GRANVILLE STREET, 19TH FLOOR, VANCOUVER A1 V6C 2R6 |
| Christopher C. Woodward |
director |
C/O VILLAGE FARMS INTERNATIONAL, INC., 195 INTERNATIONAL PARKWAY, SUITE 100, HEATHROW FL 32746 |
| David Holewinski |
director |
C/O VILLAGE FARMS INTERNATIONAL, INC., 195 INTERNATIONAL PARKWAY, SUITE 100, HEATHROW FL 32746 |
| Roberta Cook |
director |
C/O VILLAGE FARMS INTERNATIONAL, 195 INTERNATIONAL PARKWAY, SUITE 100, HEATHROW FL 32746 |
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