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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.
Aspen Technology's Net-Net Working Capital for the quarter that ended in Dec. 2023 was $-18.09.
The industry rank for Aspen Technology's Net-Net Working Capital or its related term are showing as below:
The historical data trend for Aspen Technology'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.
For the Software - Application subindustry, Aspen Technology'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.
For the Software industry and Technology sector, Aspen Technology's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Aspen Technology's Price-to-Net-Net-Working-Capital falls into.
Aspen Technology's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jun. 2023 is calculated as
Net-Net Working Capital | (A: Jun. 2023 ) | ||||||
= | (Cash, Cash Equivalents, Marketable Securities | + | 0.75 * Accounts Receivable | + | 0.5 * Total Inventories | - | Total Liabilities |
- | Preferred Stock | - | Minority Interest) | / | Shares Outstanding (EOP) | ||
= | (241.209 | + | 0.75 * 122.789 | + | 0.5 * 0 | - | 1415.123 |
- | 0 | - | 0) | / | 64.4652 | ||
= | -16.78 |
Aspen Technology's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2023 is calculated as
Net-Net Working Capital | (Q: Dec. 2023 ) | ||||||
= | (Cash, Cash Equivalents, Marketable Securities | + | 0.75 * Accounts Receivable | + | 0.5 * Total Inventories | - | Total Liabilities |
- | Preferred Stock | - | Minority Interest) | / | Shares Outstanding (EOP) | ||
= | (130.753 | + | 0.75 * 129.837 | + | 0.5 * 0 | - | 1378.771 |
- | 0 | - | 0) | / | 63.6207 | ||
= | -18.09 |
* 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.
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. 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.
Aspen Technology (NAS:AZPN) 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.
Thank you for viewing the detailed overview of Aspen Technology's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.
Whelan, Jr. Robert M. | director | ARIAD PHARMACEUTICALS, INC., 26 LANDSDOWNE STREET, CAMBRIDGE MA 02139 |
Mark Edgar Mouritsen | officer: Senior VP & General Counsel | C/O ASPEN TECHNOLOGY, INC., 20 CROSBY DRIVE, BEDFORD MA 01730 |
F G Hammond | officer: Senior VP & General Counsel | C/O ASPEN TECHNOLOGY, INC., 10 CANAL PARK, CAMBRIDGE MA 02141 |
Antonio J Pietri | director, officer: President & CEO | C/O ASPEN TECHNOLOGY, INC., 20 CROSBY DRIVE, BEDFORD MA 01730 |
Robert E Beauchamp | director | 2101 CITYWEST BLVD, HOUSTON TX 77042-2827 |
Chantelle Yvette Breithaupt | officer: SVP, Chief Financial Officer | C/O ASPEN TECHNOLOGY, INC. 20 CROSBY DR., BEDFORD MA 01730 |
Arlen Shenkman | director | C/O CITRIX SYSTEMS, INC., 851 WEST CYRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Thomas F Bogan | director | C/O WORKDAY, INC., 6110 STONERIDGE MALL RD, PLEASANTON CA 94588 |
Patrick M. Antkowiak | director | 4 PATRICK WAY, KINGSVILLE MD 21087 |
Christopher Stagno | officer: SVP, Chief Accounting Officer | C/O BRIGHTCOVE INC., 290 CONGRESS STREET, BOSTON MA 02110 |
Manish Chawla | officer: Chief Revenue Officer | C/O ASPEN TECHNOLOGY, INC., 20 CROSBY DRIVE, BEDFORD MA 01730 |
Jill D. Smith | director | 1601 DRY CREEK DRIVE, SUITE 260, LONGMONT CO 80503 |
Karen Golz | director | ONE TECHNOLOGY WAY, NORWOOD MA 02062 |
Ram R. Krishnan | director | C/O EMERSON ELECTRIC CO., 8000 W. FLORISSANT AVENUE, ST. LOUIS MO 63136 |
Emerson Electric Co | director, 10 percent owner | 8000 W. FLORISSANT, P.O. BOX 4100, ST LOUIS MO 63136 |
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