What is Atlas Air Worldwide Holdings 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, Atlas Air Worldwide Holdings'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 Atlas Air Worldwide Holdings's Probability of Financial Distress (%)
For the Airports & Air Services subindustry, Atlas Air Worldwide Holdings'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.
Atlas Air Worldwide Holdings's Probability of Financial Distress (%) Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Atlas Air Worldwide Holdings's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where Atlas Air Worldwide Holdings's Probability of Financial Distress (%) falls into.
Atlas Air Worldwide Holdings 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).
Atlas Air Worldwide Holdings (Atlas Air Worldwide Holdings) Business Description
Traded in Other Exchanges
N/A
Address
2000 Westchester Avenue, Purchase, NY, USA, 10577-2543
Atlas Air Worldwide Holdings Inc is a provider of outsourced aircraft and aviation operating services and the outsourced airfreight provider in the world. Company operates a fleet of 747 freighters and provides customers with a broad array of 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations. The company has operations in Africa, Asia, Australia, Europe, the Middle East, North America and South America. The company's business is organized into two operating segments based on service offerings: 1) Airline Operations include providing cargo aircraft outsourcing services to customers on an ACMI, CMI and Charter basis. 2) Dry Leasing business provides aircraft and engines to customers, including CMI customers, for a fixed monthly amount.
Executives
| John W Dietrich |
officer: SVP/Gen Cnsl/Secretary, other: Chf. HR Off |
|
| Walter G Borst |
director |
2701 NAVISTAR DRIVE, LISLE IL 60532 |
| Raymond L. Conner |
director |
ALASKA AIR GROUP, INC., 19300 INTERNATIONAL BLVD, SEATTLE WA 98188 |
| George Willis |
director |
55 GLENLAKE PARKWAY, NE, ATLANTA GA 30328 |
| Adam Richard Kokas |
officer: Sr. V.P., Gen. Counsel & Secy. |
C/O ATLAS AIR WORLDWIDE HOLDINGS, INC., 2000 WESTCHESTER AVENUE, PURCHASE NY 10577 |
| Michael Steen |
officer: SVP & Chief Marketing Officer |
2000 WESTCHESTER AVENUE, PURCHASE NY 10577 |
| John K Wulff |
director |
C/O HERCULES INC, 1313 NORTH MARKET STREET, WILMINGTON DE 19894-0001 |
| Keith H. Mayer |
officer: Vice President & Controller |
ATLAS AIR WORLDWIDE HOLDINGS, INC., 2000 WESTCHESTER AVENUE, PURCHASE NY 10577 |
| Duncan J. Mcnabb |
director |
C/O ATLAS AIR WORLDWIDE HOLDINGS, INC., 2000 WESTCHESTER AVENUE, PURCHASE NY 10577 |
| Sheila A Stamps |
director |
C/O CIT GROUP, 1 CIT DRIVE, ATTN: GENERAL COUNSEL, LIVINGSTON NJ 07039 |
| James Anthony Forbes |
officer: EVP & COO |
C/O ATLAS AIR WORLDWIDE HOLDINGS, INC., 2000 WESTCHESTER AVENUE, PURCHASE NY 10577 |
| Carol J Zierhoffer |
director |
100 NORTH POINT CENTER EAST, SUITE 200, ALPHARETTA GA 30022 |
| Beverly K. Goulet, |
director |
10990 ROE AVENUE, OVERLAND PARK KS 66211 |
| William J Flynn |
director, officer: Pres. & CEO |
C/O ATLAS AIR WORLDWIDE HOLDINGS, INC., 2000 WESTCHESTER AVENUE, PURCHASE NY 10577 |
| Spencer Schwartz |
officer: Vice President & Controller |
C/O ATLAS AIR WORLDWIDE HOLDINGS, INC., 2000 WESTCHESTER AVENUE, PURCHASE NY 10577 |
Atlas Air Worldwide Holdings (Atlas Air Worldwide Holdings) Headlines
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