What is TPG Pace Beneficial II 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, TPG Pace Beneficial II'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 TPG Pace Beneficial II's Probability of Financial Distress (%)
For the Shell Companies subindustry, TPG Pace Beneficial II'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.
TPG Pace Beneficial II's Probability of Financial Distress (%) Distribution in the Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, TPG Pace Beneficial II's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where TPG Pace Beneficial II's Probability of Financial Distress (%) falls into.
TPG Pace Beneficial II 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).
TPG Pace Beneficial II (TPG Pace Beneficial II) Business Description
Traded in Other Exchanges
N/A
Address
301 Commerce Street, Suite 3300, Fort Worth, TX, USA, 76102
TPG Pace Beneficial II Corp is a blank check company.
Executives
| Jon Winkelried |
director, 10 percent owner |
C/O GOLDMAN, SACHS & CO., 85 BROAD STREET, NEW YORK NY 10004 |
| Chad A Leat |
director |
C/O UNITED AMERICA INDEMNITY GROUP INC., 3 BALA PLAZA EAST, SUITE 300, BALA CYNWYD PA 19004 |
| David Bonderman |
director, 10 percent owner |
301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| James G Coulter |
director, 10 percent owner |
301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| Karl Mr. Peterson |
director, 10 percent owner |
301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| Mark Fields |
director |
FORD MOTOR COMPANY, ONE AMERICAN ROAD, DEARBORN MI 48126 |
| Dr Kneeland Youngblood |
director |
C/O GAP, INC., 2 FOLSOM ST., SAN FRANCISCO CA 94105 |
| Michael G. Macdougall |
officer: President |
301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| Eduardo Tamraz |
officer: Secretary |
C/O TPG PACE ENERGY HOLDINGS CORP., 301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| Martin Davidson |
officer: Chief Financial Officer |
C/O TPG PACE ENERGY HOLDINGS CORP., 301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| Anilu Vazquez-ubarri |
director |
C/O UPWORK INC., 2625 AUGUSTINE DRIVE, SUITE 601, SANTA CLARA CA 95054 |
| Nancy Mahon |
director |
C/O TPG PACE BENEFICIAL FINANCE CORP., 301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| Maryanne Hancock |
director |
C/O TPG PACE HOLDINGS, 301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| Tpg Pace Beneficial Ii Sponsor, Series Llc |
director, 10 percent owner |
C/O TPG PACE HOLDINGS, 301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
| Carlton Ellis |
officer: Executive VP of Corp Dev |
301 COMMERCE ST., SUITE 3300, FORT WORTH TX 76102 |
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