Apollo Education Group (Apollo Education Group) Net-Net Working Capital : $-0.74 (As of Nov. 2016)

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What is Apollo Education Group Net-Net Working Capital?

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.

Apollo Education Group's Net-Net Working Capital for the quarter that ended in Nov. 2016 was $-0.74.

The industry rank for Apollo Education Group's Net-Net Working Capital or its related term are showing as below:

APOL's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Education industry.
Industry Median: 6.63
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Apollo Education Group Net-Net Working Capital Historical Data

The historical data trend for Apollo Education Group's Net-Net Working Capital can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Apollo Education Group Net-Net Working Capital Chart

Apollo Education Group Annual Data

Trend

Aug07

Aug08

Aug09

Aug10

Aug11

Aug12

Aug13

Aug14

Aug15

Aug16

Net-Net Working Capital

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-4.71

-1.96

-3.15

-1.98

-1.13

Apollo Education Group Quarterly Data
	Feb12	May12	Aug12	Nov12	Feb13	May13	Aug13	Nov13	Feb14	May14	Aug14	Nov14	Feb15	May15	Aug15	Nov15	Feb16	May16	Aug16	Nov16
Net-Net Working Capital	Get a 7-Day Free Trial															-1.19	-2.68	-2.16	-1.13	-0.74

Competitive Comparison of Apollo Education Group's Net-Net Working Capital

For the Education & Training Services subindustry, Apollo Education Group's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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.

Apollo Education Group's Price-to-Net-Net-Working-Capital Distribution in the Education Industry

For the Education industry and Consumer Defensive sector, Apollo Education Group's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Apollo Education Group's Price-to-Net-Net-Working-Capital falls into.

Apollo Education Group Net-Net Working Capital Calculation

Apollo Education Group's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Aug. 2016 is calculated as

	Net-Net Working Capital		(A: Aug. 2016 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(661.91	+	0.75 * 209.747	+	0.5 * 0	-	942.172
-	0	-	0.4)	/	109.625
=	-1.13

Apollo Education Group's Net-Net Working Capital (NNWC) per share for the quarter that ended in Nov. 2016 is calculated as

	Net-Net Working Capital		(Q: Nov. 2016 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(634.666	+	0.75 * 234.676	+	0.5 * 0	-	892.091
-	0	-	0.213)	/	109.839
=	-0.74

In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.

This is a conservative way of estimating the company's value.

Apollo Education Group (NAS:APOL) Net-Net Working Capital Explanation

One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.

Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.

Apollo Education Group Net-Net Working Capital Related Terms

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Apollo Education Group (Apollo Education Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » Apollo Education Group Inc (NAS:APOL) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.apollo.edu

Apollo Education Group Inc was incorporated in Arizona in 1981. It offers educational programs and services, online and on-campus at the undergraduate, master's and doctoral levels. Its learning platforms include the following The University of Phoenix, Inc., Apollo Global, Inc. which also includes BPP Holdings Limited, Universidad Latinoamericana, Universidad de Artes, Ciencias y ComunicaciÃ³n, and Indian Education Services Private Ltd., Western International University, Inc., Institute for Professional Development, The College for Financial Planning Institutes Corporation, Carnegie Learning, Inc., and Apollo Lightspeed. Its institutions offer Accredited Degree Programs, Professional Examinations Training and Professional Development, and Employers. The Company's international operations include full-time and part-time courses, delivered on-campus or online, for professional examination preparation, professional development training and various degree/certificate/diploma programs. It competes mainly with traditional public and private two-year and four-year degree-granting regionally accredited colleges and universities, other proprietary degree-granting regionally accredited schools and alternatives to higher education. Its domestic postsecondary institutions are subject to extensive federal and state regulations.

Executives

Sean Martin	officer: SVP, General Counsel	ONE BAXTER PARKWAY, DEERFIELD IL 60015
Ann Kirschner	director	650 FROM ROAD, SUITE 375, PARAMUS NJ 07652
Richard H Dozer	director	VIAD CORP, 7000 E. 1ST AVENUE, SCOTTSDALE AZ 85251
Robert S Murley	director	4025 S. RIVERPOINT PARKWAY, M/S CF-K815, PHOENIX AZ 85040
James Mitchell Bowling	officer: SVP, COO	4025 S RIVERPOINT PKWY MS CF-K808 PHOENIX AZ 85040
Terri C Bishop	director, officer: Vice Chairman	4025 S RIVERPOINT PKWY, PHOENIX AZ 85040
Peter V Sperling	director, officer: Chairman of the Board	4615 E ELWOOD, PHOENIX AZ 85040
Darby E Shupp	director	4025 S RIVERPOINT PKWY, M/S CF-X01, PHOENIX AZ 85040
Gregory James Iverson	officer: SVP, CFO, CAO & Treasurer	4025 S. RIVERPOINT PARKWAY, CF-K809, PHOENIX AZ 85040
Herberger Roy A Jr	director	400 E VAN BUREN ST, PO BOX 52132, PHOENIX AZ 85072-2132
Matthew Jr Carter	director	550 W ADAMS, STE 900, CHICAGO IL 60661
Manuel Felix Rivelo	director	2312 MAGNOLIA BLVD. WEST, SEATTLE WA 98199
Brian L Swartz	officer: SVP & CFO	4025 S RIVERPOINT PKWY MAIL-STOP CF-KX04 PHOENIX AZ 85040
P Robert Moya	officer: EVP, Special Projects	4025 S RIVERPOINT PKWY, MS CF-KX01, PHOENIX AZ 85040
Di Piazza Samuel A Jr.	director	100 BROOKWOOD PLACE, BIRMINGHAM AL 35209