drag2share: Wall Street's Hottest Smartphone App Can Sniff Out Corporate Bankruptcies Long Before They Happen
One of the most widely-used and well-recognized measures of corporate credit risk is the Altman Z-Score, named after legendary NYU Stern Professor Edward Altman.
Specifically, the Altman Z-Score is used to predict the odds of bankruptcy. (More details below.)
According to The Financial Professional's Post, Professor Altman and Business Compass LLC teamed up to develop a smartphone app so that credit analysts can carry the power of the Altman Z-Score in the palm of their hands.
You're probably wondering how the Altman Z-Score works.
First, it takes key financial measures such as current assets, current liabilities, intangible assets, sales, earnings before interest and tax, market cap, book value, total assets and total liabilities. Then it will tell you the probability of default over a period of 1 to 10 years.
You can read more about Professor Altman's work here.
If you must download this app now, head here.
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