Last week, a team of data analysts from Graydon examined how it could measure whether companies are resistant to shock. They assumed that the turnover of companies will disappear for two months and that the income will take a while. 
Under such circumstances, companies fall back on their networking capital to pay their costs in the short term. This makes clear to what extent companies have a buffer to collect a discontinuity of income. Graydon, therefore, calculated the net working capital, on which it made some corrections with caution. One of the assumptions is that customers cannot meet part of their payment obligations on time, depending on the sector. 
The data analysts then performed two tests. How many companies have the insufficient working capital to bridge a two-month loss of sales shock? And how many companies fall below the median of their sector due to the coronavirus? The latter is the level at which one half of the sector has lower reserves and the other half higher. 
Most companies score negative on both tests because they do not have enough resources to absorb a two-month shock. It has also been shown that most companies have a lower financial buffer than is necessary for their sector and are therefore in the danger zone.