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Phoenix Footwear Group Altman Z-Score

: -3.91 (As of Today)
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Phoenix Footwear Group has a Altman Z-Score of -3.91, 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 Phoenix Footwear Group's Altman Z-Score or its related term are showing as below:


Phoenix Footwear Group Altman Z-Score Historical Data

The historical data trend for Phoenix Footwear Group'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.

Phoenix Footwear Group Annual Data
Trend Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec18 Dec19
Altman Z-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.85 -3.36 -4.14 -3.23 -2.91

Phoenix Footwear Group Quarterly Data
Mar08 Jun08 Sep08 Dec08 Mar09 Jun09 Sep09 Dec09 Mar10 Jun10 Sep10 Dec10 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20
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 - -2.32 -2.91 -3.30 -3.90

Competitive Comparison

For the Footwear & Accessories subindustry, Phoenix Footwear Group'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.

   

Phoenix Footwear Group Altman Z-Score Distribution

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Phoenix Footwear Group's Altman Z-Score distribution charts can be found below:

* The bar in red indicates where Phoenix Footwear Group's Altman Z-Score falls into.



Phoenix Footwear Group 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.

Phoenix Footwear Group'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*0.0442+1.4*-3.6973+3.3*-0.0375+0.6*0.1102+1.0*1.2737
=-3.91

* 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. 2020:
Total Assets was $12.36 Mil.
Total Current Assets was $11.44 Mil.
Total Current Liabilities was $10.89 Mil.
Retained Earnings was $-45.71 Mil.
Pre-Tax Income was -0.147 + -0.745 + -0.325 + 0.165 = $-1.05 Mil.
Interest Expense was -0.161 + -0.135 + -0.139 + -0.154 = $-0.59 Mil.
Revenue was 2.627 + 3.736 + 3.918 + 5.465 = $15.75 Mil.
Market Cap (Today) was $1.36 Mil.
Total Liabilities was $12.31 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
=(11.435 - 10.888)/12.362
=0.0442

X2=Retained Earnings/Total Assets
=-45.706/12.362
=-3.6973

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(-1.052 - -0.589)/12.362
=-0.0375

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=1.357/12.312
=0.1102

X5=Revenue/Total Assets
=15.746/12.362
=1.2737

The zones of discrimination were as such:

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

Phoenix Footwear Group has a Altman Z-Score of -3.91 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.


Phoenix Footwear Group  (OTCPK:PXFG) 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.


Phoenix Footwear Group Altman Z-Score Related Terms

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


Phoenix Footwear Group Business Description

Phoenix Footwear Group logo
Traded in Other Exchanges
N/A
Address
2236 Rutherford Road, Suite 113, Carlsbad, CA, USA, 92008
Phoenix Footwear Group Inc operates in the footwear industry. It is engaged in the manufacturing and distribution of footwear in a range of sizes and widths under the brand's Trotters, SoftWalk, SAVA, and Bueno. The company's distribution channels include specialty and independent retail stores, mail order catalogues, uniform, and internet retailers. It also operates its own direct to consumer internet retail business for all its brands. The company's footwear is produced by independent contract manufacturers located in China and Vietnam.
Executives
Riedman Corp other: member of 10% group 45 EAST AVENUE ROCHESTER NY 14604
Tannenbaum Steven 10 percent owner 125 COUNTRY CLUB ROAD NEWTON MA 02459
Greenwood Investments, Inc. 10 percent owner 222 BERKELEY STREET 12TH FLOOR BOSTON MA 02116
Greenwood Capital Limited Partnership 10 percent owner 222 BERKELEY STREET 12TH FLOOR BOSTON MA 02116
Greenwood Investors Limited Partnership 10 percent owner 222 BERKELEY STREET FLOOR 17 BOSTON MA 02116
Slack Gregory W officer: CFO 2765 LOKER AVENUE WEST CARLSBAD CA 92010
Carter Robby Lee other: Executive Vice President 303 YARD DRIVE LAKE ST. LOUIS MO 63367
Wulff Kevin G director 1740 MONROVIA AVENUE COSTA MESA CA 92627
Nelson Dennis officer: CFO, Secretary and Treasurer 5840 EL CAMINO REAL, SUITE 106 CARLSBAD CA 92008
Taylor Cathy B director, officer: Chief Executive Officer 5840 EL CAMINO REAL SUITE 106 CARLSBAD CA 92008
Ford Paul Douglas officer: Senior VP of Operations 5840 EL CAMINO REAL SUITE 106 CARLSBAD CA 92008
Pfander Willie director, officer: Senior VP-Sourcing and Develop PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: PFANDER WILLIE a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Harden Greg director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: HARDEN GREG a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Deperrier Steven director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: DEPERRIER STEVEN a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Kratzer John C director PO BOX 116 4806 EL MARLO RANCHO SANTA FE CA 92067

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