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CIK 909791

ULTRATECH INC
CIK 0000909791 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
78.6
composite ยท 5 signals ยท TRIGGERED

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Signals

P-07 ยท FY 2016-12-31 ยท TRIGGERED70.5

Pension underfunding

DB plan 0% funded โ€” -$2M deficit (1% of equity)
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2017-03-01) โ†—
Evidence โ€” inputs and thresholds
{
  "benefit_obligation": 1870000,
  "plan_assets": null,
  "funded_ratio": 0,
  "deficit": -1870000,
  "deficit_vs_equity": 0.0051,
  "thresholds": {
    "elevated": "<90% funded",
    "triggered": "<80% funded or deficit >25% of equity"
  },
  "stale": false,
  "latest_filing_period": "2016-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/909791/000090979117000014/0000909791-17-000014-index.htm",
    "form": "10-K",
    "filed": "2017-03-01"
  }
}
P-01 ยท FY 2016-12-31 ยท ELEVATED45.7

Earnings quality

Beneish M-Score -1.90 in the elevated zone
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2017-03-01) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -1.899,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 1.492,
    "GMI": 1.006,
    "AQI": 0.886,
    "SGI": 1.301,
    "DEPI": 0.975,
    "SGAI": 0.745,
    "LVGI": 1.049,
    "TATA": -0.026
  },
  "defaulted_to_neutral": [],
  "sloan_accruals": -0.0269,
  "inputs": {
    "revenue_t": 194051000,
    "revenue_t1": 149176000,
    "total_assets_t": 415572000,
    "net_income_t": 11237000,
    "cfo_t": 22044000
  },
  "stale": false,
  "latest_filing_period": "2016-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/909791/000090979117000014/0000909791-17-000014-index.htm",
    "form": "10-K",
    "filed": "2017-03-01"
  }
}
P-05 ยท FY 2016-12-31 ยท ELEVATED100.0

Tax arbitrage

ETR -29.3% vs 21% statutory โ€” gap persistent across 1 of 1 years
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2017-03-01) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2016-12-31": -0.2928
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2016-12-31": 0.5028
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2016-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/909791/000090979117000014/0000909791-17-000014-index.htm",
    "form": "10-K",
    "filed": "2017-03-01"
  }
}
P-12 ยท FY 2016-12-31 ยท CLEAN16.0

Restatement predictor

F-Score 0.48 โ€” at or below the population base rate
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2017-03-01) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 0.479,
  "probability": 0.00177,
  "components": {
    "rsst": -0.0269,
    "drec": 0.0657,
    "dinv": -0.0371,
    "soft": 0.7579,
    "dcs": 0.1236,
    "droa": 0.0659,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2016-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/909791/000090979117000014/0000909791-17-000014-index.htm",
    "form": "10-K",
    "filed": "2017-03-01"
  }
}
P-13 ยท FY 2016-12-31 ยท CLEAN0.0

Zombie / distress

Interest coverage 188.88x โ€” servicing debt from operations
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2017-03-01) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2016-12-31": 188.884,
    "2015-12-31": -188,
    "2014-12-31": -544.657,
    "2013-12-31": -313.708
  },
  "consecutive_years_below_1": 0,
  "altman_z_double_prime": 16.079,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 8122000,
    "interest_expense_t": 43000
  },
  "stale": false,
  "latest_filing_period": "2016-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/909791/000090979117000014/0000909791-17-000014-index.htm",
    "form": "10-K",
    "filed": "2017-03-01"
  }
}