What is Global Cord Blood 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, Global Cord Blood'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 Global Cord Blood's Probability of Financial Distress (%)
For the Diagnostics & Research subindustry, Global Cord Blood'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.
Global Cord Blood's Probability of Financial Distress (%) Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Global Cord Blood's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Global Cord Blood's Probability of Financial Distress (%) falls into.
Global Cord Blood 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).
Global Cord Blood (Global Cord Blood) Business Description
Traded in Other Exchanges
N/A
Address
1 Garden Road, 48th Floor, Bank of China Tower, Central, Hong Kong, HKG
Global Cord Blood Corp provides cord blood banking services. The company provides cord blood processing and storage services for expectant parents interested in capturing the evolving medical treatments and technologies such as cord blood transplants.
Executives
| Kent C Mccarthy |
10 percent owner, other: Mbr 13(d) grp own 10% plus |
930 TAHOE BLVD., 802-281, INCLINE VILLAGE NV 89451 |
| Jayhawk Private Equity Fund Ii Lp |
10 percent owner |
5410 WEST 61ST PLACE, SUITE 100, MISSION KS 66205 |
| 7-2010 Grat 5 Under Kent C. Mccarthy Grat Tr Dtd 4-23-2010 |
other: 13 (d) group owning > 10% |
7335 COTTONWOOD DRIVE, SHAWNEE KS 66216 |
| 7-2010 Grat 6 Under Kent C Mccarthy Grat Tr Dtd 4-23-2010 |
10 percent owner, other: Member of 13(d) group owning m |
7335 COTTONWOOD, SHAWNEE KS 66216 |
| Mccarthy Family Sd, Llc |
10 percent owner, other: 13 (d) group owning > 10% |
7335 COTTONWOOD DRIVE, SHAWNEE KS 66216 |
| Jhab Fund Ii, Llc |
other: 13(d) group owning > 10% |
7335 COTTONWOOD DRIVE, SHAWNEE KS 66216 |
| Jhab Management Ii, Llc |
other: 13(d) group owning > 10% |
7335 COTTONWOOD DRIVE, SHAWNEE KS 66216 |
| Jcf Co Lf, L.p. |
other: 13(d) group owning > 10% |
930 TAHOE BLVD., 802-281, INCLINE VILLAGE NV 89451 |
| Jayhawk Capital Management Llc |
other: Member of the group |
13021 W 74TH ST, SHAWNEE KS 66216 |
| Jayhawk China Fund Cayman Ltd |
other: Member of the group |
930 TAHOE BLVD., 802-281, INCLINE VILLAGE NV 89451 |
| Jayhawk Private Equity Gp Ii, L.p. |
10 percent owner |
5410 WEST 61ST PLACE, SUITE 100, MISSION KS 66205 |
| Jayhawk Private Equity, Llc |
10 percent owner |
5410 WEST 61ST PLACE, SUITE 100, MISSION KS 66205 |
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