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InSite Vision Altman Z-Score

: -64.43 (As of Today)
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InSite Vision has a Altman Z-Score of -64.43, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.

The zones of discrimination were as such:

When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.

The historical rank and industry rank for InSite Vision's Altman Z-Score or its related term are showing as below:


InSite Vision Altman Z-Score Historical Data

The historical data trend for InSite Vision's Altman Z-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

InSite Vision Annual Data
Trend Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14
Altman Z-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -8.84 -6.04 -16.68 -18.98 -30.82

InSite Vision Quarterly Data
Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15
Altman Z-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -25.90 -60.87 -30.82 -34.01 -66.19

Competitive Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, InSite Vision's Altman Z-Score, along with its competitors' market caps and Altman Z-Score 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.

   

InSite Vision Altman Z-Score Distribution

For the Drug Manufacturers industry and Healthcare sector, InSite Vision's Altman Z-Score distribution charts can be found below:

* The bar in red indicates where InSite Vision's Altman Z-Score falls into.



InSite Vision Altman Z-Score Calculation

Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

InSite Vision's Altman Z-Score for today is calculated with this formula:

Z=1.2*X1+1.4*X2+3.3*X3+0.6*X4+1.0*X5
=1.2*-3.0513+1.4*-39.2371+3.3*-2.4879+0.6*2.3532+1.0*0.962
=-64.43

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.

Trailing Twelve Months (TTM) ended in Jun. 2015:
Total Assets was $4.66 Mil.
Total Current Assets was $3.22 Mil.
Total Current Liabilities was $17.43 Mil.
Retained Earnings was $-182.73 Mil.
Pre-Tax Income was -6.637 + -0.828 + -2.429 + -3.279 = $-13.17 Mil.
Interest Expense was -0.715 + -0.563 + -0.309 + 0 = $-1.59 Mil.
Revenue was 0.392 + 3.376 + 0.352 + 0.36 = $4.48 Mil.
Market Cap (Today) was $45.34 Mil.
Total Liabilities was $19.27 Mil.

* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.

X1=Working Capital/Total Assets
=(Total Current Assets - Total Current Liabilities)/Total Assets
=(3.221 - 17.431)/4.657
=-3.0513

X2=Retained Earnings/Total Assets
=-182.727/4.657
=-39.2371

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(-13.173 - -1.587)/4.657
=-2.4879

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=45.340/19.267
=2.3532

X5=Revenue/Total Assets
=4.48/4.657
=0.962

The zones of discrimination were as such:

Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones

InSite Vision has a Altman Z-Score of -64.43 indicating it is in Distress Zones.

Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.


InSite Vision  (OTCPK:INSV) Altman Z-Score Explanation

X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.

X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.

X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.

X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.

X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.

Read more about Altman Z-Score and the original research.


Be Aware

Altman Z-Score does not apply to financial companies.


InSite Vision Altman Z-Score Related Terms

Thank you for viewing the detailed overview of InSite Vision's Altman Z-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


InSite Vision Business Description

InSite Vision logo
Traded in Other Exchanges
N/A
Address
InSite Vision Inc was incorporated in 1986 as a California Corporation and reincorporated in Delaware in 1987. The Company is an ophthalmic product development company committed to advancing ophthalmic pharmaceutical products to address unmet eye care needs. The Company completed its initial public offering on October 18, 1993. The Company's current portfolio of ophthalmic pharmaceutical products is based on its proprietary DuraSite drug delivery technology. The Company's DuraSite sustained drug delivery technology is a proven, patented synthetic polymer-based formulation designed to extend the residence time of a drug relative to conventional topical therapies. It enables topical delivery of a solution, gel or suspension and could be customized for delivering a variety of potential drug candidates. The Company has focused its research, development and commercial support efforts on the following topical products formulated with its DuraSite drug delivery technology. AzaSite or azithromycin ophthalmic solution 1% is a DuraSite formulation of azithromycin developed as a broad spectrum ocular antibiotic and approved by the U.S. Food and Drug Administration in April 2007 to treat bacterial conjunctivitis. Additional indications are being pursued by Inspire Pharmaceuticals for this product. AzaSite was commercially launched in the United States by Inspire Pharmaceuticals in August 2007. DexaSite is a DuraSite formulation of dexamethasone in development for the treatment of ocular inflammation. In November 2011, it initiated a Phase 3 clinical trial for this product candidate in blepharitis and completed patient enrollment in the clinical trial in September 2012. BromSite is a DuraSite formulation of bromfenac in development for the prevention of post-operative inflammation and eye pain. It initiated a Phase 1/2 clinical trial for this product candidate in August 2010 and received positive top-line results from this study in the first quarter of 2011, which demonstrated the efficacy and safety of BromSite. DuraSite 2 is a next-generation enhanced drug delivery system, which is designed to provide a broad platform for developing superior ophthalmic therapeutics. DuraSite 2 is based on the original DuraSite technology, and incorporates a cationic polymer to achieve sustained and enhanced ocular delivery of drugs. ISV-101 is a DuraSite formulation with a low concentration of bromfenac for the treatment of dry eye disease. The Company is subject to regulation by numerous governmental authorities in the United States and other countries.
Executives
Drapeau Louis officer: Vice President and CFO C/O BIOMARIN PHARMACEUTICAL INC. 371 BEL MARIN KEYS BLVD., SUITE 210 NOVATO CA 94949
Levy Brian director
Yost Anthony J director C/O INSITE VISION, INC. 965 ATLANTIC AVENUE ALAMEDA CA 94501
Mcinerney Timothy director
Tooman Craig A director
Coliseum Capital Management, Llc 10 percent owner 105 ROWAYTON AVENUE ROWAYTON CT 06853
Lynch Timothy P director 919 NW BOND STREET, SUITE 204 BEND OR 97703
Anderson Rick D director 3600 N CAPITAL OF TEXAS HWY SUITE B180 AUSTIN TX 78746
Saxe Jon S director FIRST HORIZON PHARMACEUTICAL CORP 660 HEMBREE PKWY STE 106 ROSWELL GA 30076
Chen Francis Wen-hou director 1821 JONES STREET SAN FRANCISCO CA 94109
Pinto Tv Gp Co Llc 10 percent owner 3600 N CAPITAL OF TEXAS HWY SUITE B180 AUSTIN TX 78746
Crawford Matthew S 10 percent owner 3600 N CAPITAL OF TEXAS HWY SUITE B180 AUSTIN TX 78746
Pfizer Inc 10 percent owner 235 E 42ND ST NEW YORK NY 10017

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