Floral and gifting outfit FTD Companies, Inc., parent company of ProFlowers, might not stick around to see next spring's bloom based upon their alarming financials, as discovered in this High Risk Report.
Based out of suburban Chicago, the company demonstrates bottom-quartile rankings in key financial ratios versus its industry peers. What's more, its FRISK® score slumped to a worst-possible "1" in June of 2018:
This High Risk Report keys in on the factors which brought FTD Companies, Inc. to this unstable point in their existence. For example, a dive into its quarterly leverage ratios (found on page 9 of the report) shows that the company's negative tangible net worth suggests all of its loanable collateral has been exhausted. All of FTD Companies, Inc.'s debt has been reclassified to short-term due to credit agreement defaults – one of which was the inclusion of a going concern uncertainty paragraph in the Dec. 31, 2017 audit opinion.
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About High Risk Reports
Our High Risk Reports feature companies that are exhibiting a significantly high level of financial distress, as indicated by our proprietary FRISK® score.
The reports highlight the factors that have pushed a company's score lower on the "1" (worst) to "10" (best) FRISK® score, which is 96% accurate in predicting bankruptcy over a 12-month period. The High Risk Reports also includes analysis on financial indicators such as the company’s DBT index, stock performance, financial ratios and how it is performing relative to its industry peers.
The ultimate goal of the High Risk Report series is two-part: provide an early warning for those doing business with an increasingly distressed company and inform of the many signals that should be examined when assessing financial risks.