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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.
Cousins Properties's Net-Net Working Capital for the quarter that ended in Mar. 2024 was $-20.91.
The industry rank for Cousins Properties's Net-Net Working Capital or its related term are showing as below:
The historical data trend for Cousins Properties'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.
Cousins Properties Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Net-Net Working Capital | Get a 7-Day Free Trial | -18.81 | -17.64 | -18.34 | -19.15 | -20.40 |
Cousins Properties Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Net-Net Working Capital | Get a 7-Day Free Trial | -19.60 | -19.75 | -19.86 | -20.40 | -20.91 |
For the REIT - Office subindustry, Cousins Properties'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 REITs industry and Real Estate sector, Cousins Properties's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Cousins Properties's Price-to-Net-Net-Working-Capital falls into.
Cousins Properties's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2023 is calculated as
Net-Net Working Capital | (A: Dec. 2023 ) | ||||||
= | (Cash, Cash Equivalents, Marketable Securities | + | 0.75 * Accounts Receivable | + | 0.5 * Total Inventories | - | Total Liabilities |
- | Preferred Stock | - | Minority Interest) | / | Shares Outstanding (EOP) | ||
= | (6.047 | + | 0.75 * 11.109 | + | 0.5 * 0 | - | 3086.161 |
- | 0 | - | 24.162) | / | 151.799 | ||
= | -20.40 |
Cousins Properties's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2024 is calculated as
Net-Net Working Capital | (Q: Mar. 2024 ) | ||||||
= | (Cash, Cash Equivalents, Marketable Securities | + | 0.75 * Accounts Receivable | + | 0.5 * Total Inventories | - | Total Liabilities |
- | Preferred Stock | - | Minority Interest) | / | Shares Outstanding (EOP) | ||
= | (5.452 | + | 0.75 * 8.135 | + | 0.5 * 0 | - | 3168.021 |
- | 0 | - | 24.089) | / | 152.072 | ||
= | -20.91 |
* 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.
Cousins Properties (NYSE:CUZ) 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 Cousins Properties's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.
Pamela F Roper | officer: Senior Vice President | 3344 PEACHTREE ROAD NE STE 1800, ATLANTA GA 30326 |
Scott W Fordham | director | 5950 SHERRY LANE, SUITE 700, DALLAS TX 75225 |
Dionne Nelson | director | 3344 PEACHTREE ROAD, NE, SUITE 1800, ATLANTA GA 30326 |
Jane Kennedy Hicks | officer: Executive VP, Investments | 1820 PEACHTREE RD NW, #502, ATLANTA GA 30309 |
Hickson Richard G Iv | officer: Executive Vice President | 3344 PEACHTREE ROAD NE SUITE 1800, ATLANTA GA 30326 |
Jeffrey D Symes | officer: SVP, Chief Accounting Officer | 545 E. JOHN CARPENTER FWY., SUITE 1300, IRVING TX 75062 |
Griffin R Kent Jr | director | 5950 SHERRY LANE, SUITE 700, DALLAS TX 75225 |
Gellerstedt Lawrence L Iii | officer: President-Office/Multi-Fam Div | 3344 PEACHTREE ROAD, SUITE 1800, ATLANTA GA 30326 |
John S Mccoll | officer: Senior Vice President | 3344 PEACHTREE ROAD NE STE 1800, ATLANTA GA 30326 |
Edward Manuel Casal | director | 3344 PEACHTREE ROAD NE, STE 1800, ATLANTA GA 30326 |
S Taylor Glover | director | 3344 PEACHTREE ROAD NE STE 1800, ATLANTA 2Q 30326 |
Lillian C Giornelli | director | 3344 PEACHTREE ROAD STE 1800, ATLANTA GA 30326 |
Kelvin L. Davis | director | 301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
Brenda J Mixson | director | P.O.BOX 697, ST. HELENA CA 94574 |
Charles T Cannada | director | 3344 PEACHTREE ROAD STE 1800, ATLANTA GA 30326 |
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