What is Kellanova Co 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, Kellanova Co's Probability of Financial Distress (%) is 0.04%.
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 Kellanova Co's Probability of Financial Distress (%)
For the Packaged Foods subindustry, Kellanova Co'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.
Kellanova Co's Probability of Financial Distress (%) Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Kellanova Co's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Kellanova Co's Probability of Financial Distress (%) falls into.
Kellanova Co 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 |
| = | -7.95 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 0.04% |
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).
Kellanova Co (Kellanova Co) Business Description
Traded in Other Exchanges
Address
412 N. Wells Street, Chicago, IL, USA, 60654
Following its split from the North American cereal business, Kellanova (previously the global snacking arm of Kellogg) is a leading global manufacturer and marketer of salty snacks, snack bars, frozen breakfast fare, meat alternatives, and other packaged foods. Its offerings are manufactured in around 20 countries and marketed in more than 180 countries. Its product mix includes well-known brands such as Pringles, Cheez-It, Rice Krispies Treats, Pop-Tarts, Eggo, Nutri-Grain, and Morningstar Farms. Sales beyond its home turf account for about half of Kellanova's consolidated sales base.
Executives
| Kellogg W K Foundation Trust |
10 percent owner |
50 S. LA SALLE ST., B-10, CHICAGO IL 60603 |
| John Min |
officer: Chief Legal Officer |
ONE KELLOGG SQUARE, BATTLE CREEK MI 49017 |
| Christopher M Hood |
officer: Senior Vice President |
ONE KELLOGG SQUARE, PO BOX 3599, BATTLE CREEK MI 49016-3599 |
| Kris Bahner |
officer: SVP-Chief Global Corp Affairs |
ONE KELLOGG SQUARE, BATTLE CREEK MI 49017 |
| Nicolas Amaya |
officer: Senior Vice President |
ONE KELLOGG SQUARE, BATTLE CREEK MI 49017 |
| Charisse Ford Hughes |
officer: Senior Vice President |
C/O CROCS, INC., 13601 VIA VARRA, BROOMFIELD CO 80020 |
| Gary H Pilnick |
officer: Senior Vice President |
|
| Kurt D Forche |
officer: VP-Corporate Controller |
ONE KELLOGG SQUARE, PO BOX 3599, BATTLE CREEK MI 49016-3599 |
| Amit Banati |
officer: Senior Vice President |
ONE KELLOGG SQUARE, PO BOX 3599, BATTLE CREEK MI 49016-3599 |
| Rodrigo Lance |
officer: Senior Vice President |
ONE KELLOGG SQUARE, BATTLE CREEK MI 49017 |
| Alistair D Hirst |
officer: SVP - Global Supply Chain |
ONE KELLOGG SQUARE, PO BOX 3599, BATTLE CREEK MI 49016-3599 |
| J Michael Schlotman |
director |
1014 VINE ST, CINCINNATI OH 45202 |
| Steven A Cahillane |
director, officer: CEO & President |
ONE COCA-COLA PLAZA, ATLANTA GA 30313 |
| Shumit Kapoor |
officer: Senior Vice President |
ONE KELLOGG SQUARE, BATTLE CREEK MI 49017 |
| Maria Fernanda Mejia |
officer: Senior Vice President |
ONE KELLOGG SQUARE, PO BOX 3599, BATTLE CREEK MI 49016-3599 |
Kellanova Co (Kellanova Co) Headlines
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