What is Micron Solutions 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, Micron Solutions'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 Micron Solutions's Probability of Financial Distress (%)
For the Medical Devices subindustry, Micron Solutions'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.
Micron Solutions's Probability of Financial Distress (%) Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Micron Solutions's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Micron Solutions's Probability of Financial Distress (%) falls into.
Micron Solutions 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).
Micron Solutions (Micron Solutions) Business Description
Traded in Other Exchanges
N/A
Address
25 Sawyer Passway, Fitchburg, MA, USA, 01420
Micron Solutions Inc is a diversified contract manufacturing organization that produces engineered medical device components requiring precision machining and injection molding. It provides design, engineering, quality, and regulatory expertise across the three product lines, machining, thermoplastic injection molding, and sensors. It's engaged in the production and sale of silver chloride-coated and conductive resin sensors used as consumable component parts in the manufacture of integrated disposable electrophysiological sensors. It also provides other value-added services, including the design, manufacture, and rehabilitation of injection molding tools, pad printing, ultrasonic welding, stamping, laser marking, clean room molding, and others.
Executives
| Steven D. Heinemann |
10 percent owner |
C/O GOOSE HILL CAPITAL, 546 FIFTH AVENUE, 14TH FLOOR, NEW YORK NY 10036 |
| Wayne M Coll |
officer: CFO |
|
| Rodd Friedman |
director, 10 percent owner |
12 SOUTH MAIN STREET, SUITE 203, NORWALK CT 06854 |
| Jason Russell Chambers |
director |
4355 COBB PKWY, SUITE J BOX 269, ATLANTA 2Q 30339 |
| Robert A Mello |
director |
C/O IRIS INTERNATIONAL, INC., 9158 ETON AVENUE, CHATSWORTH CA 91311 |
| William J. Laursen |
director, officer: Chief Executive Officer |
13 PENINSULA ROAD, HARVARD MA 01451 |
| Andrei Soran |
director |
28 LOTHROP STREET, NEWTON MA 02460 |
| Bryan Ganz |
director |
C/O ARRHYTHMIA RESEARCH TECHNOLOGY, INC., 25 SAWYER PASSWAY, FITCHBURG MA 01420 |
| Ref Securities & Co. |
10 percent owner |
12 SOUTH MAIN STREET, SUITE 203, NORWALK CT 06854 |
| Marco Benedetti |
director |
9645 WEHRLE DRIVE, CLARENCE NY 14031 |
| Salvatore Jr Emma |
director, officer: PRESIDENT and CEO |
20 LONGLEY ROAD, SHIRLEY MA 01464 |
| Derek Thomas Welch |
officer: Prin.Financial & Accounting |
405 NEW WEST TOWNSEND ROAD, LUNENBURG MA 01462 |
| Patrick L Muldoon |
director |
215 HUBBARDSTON ROAD, PRINCETON MA 01541 |
| Michael S Gunter |
director |
104 CAMBRIDGE PLAZA DRIVE, WINSTON-SALEM NC 27104 |
| Michael Francis Nolan |
officer: Chief Operating Officer |
25 SAWYER PASSWAY, FITCHBURG MA 01420 |
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