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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.
Franklin Electric Co's Net-Net Working Capital for the quarter that ended in Mar. 2024 was $-0.53.
The industry rank for Franklin Electric Co's Net-Net Working Capital or its related term are showing as below:
The historical data trend for Franklin Electric Co'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.
Franklin Electric Co Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Net-Net Working Capital | Get a 7-Day Free Trial | -1.16 | -0.51 | -4.65 | -2.93 | -0.33 |
Franklin Electric Co 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 | -3.28 | -1.97 | -0.46 | -0.33 | -0.53 |
For the Specialty Industrial Machinery subindustry, Franklin Electric Co'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 Industrial Products industry and Industrials sector, Franklin Electric Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Franklin Electric Co's Price-to-Net-Net-Working-Capital falls into.
Franklin Electric Co'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) | ||
= | (84.963 | + | 0.75 * 222.418 | + | 0.5 * 508.696 | - | 517.815 |
- | 0 | - | 3.571) | / | 46.067 | ||
= | -0.33 |
Franklin Electric Co'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) | ||
= | (65.314 | + | 0.75 * 262.632 | + | 0.5 * 532.242 | - | 549.019 |
- | 0 | - | 3.663) | / | 46.093 | ||
= | -0.53 |
* 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.
Franklin Electric Co (NAS:FELE) 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 Franklin Electric Co's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.
Gregg C Sengstack | officer: Senior Vice President and CFO | FRANKLIN ELECTRIC CO INC, 9255 COVERDALE RD, FORT WAYNE IN 46809 |
Delancey W Davis | officer: Vice President, Director of Sa | FRANKLIN ELECTRIC CO., INC., 9255 COVERDALE RD, FORT WAYNE IN 46809 |
Greg Michael Levine | officer: VP & President, Global Water | 954 CHAPEL OAKS ROAD, FRONTENAC MO 63131 |
Jonathan M. Grandon | officer: Chief Administrative Officer | 56 EAST BELL DRIVE, P.O. BOX, WARSAW IN 46581 |
Donald P Kenney | officer: VP and President Energy System | FRANKLIN ELECTRIC CO., INC., 9255 COVERDALE RD, FORT WAYNE IN 46809 |
Paul Chhabra | officer: VP, Global Product Supply | 9255 COVERDALE ROAD, FORT WAYNE IN 46809 |
Jeffery L Taylor | officer: Vice President and CFO | 1000 SAGAMORE PARKWAY SOUTH, LAFAYETTE IN 47905 |
Chris Villavarayan | director | C/O MERITOR, INC., 2135 WEST MAPLE ROAD, TROY MI 48084 |
Brent L Spikes | officer: VP, Global Manufacturing Ops | 10330 CYGNET COVE, ROANOKE IN 46783 |
Kenneth Keene | officer: VP, Global Supply Chain | 626 MONTE VISTA DRIVE, FORT WAYNE IN 46814 |
John J Haines | officer: Vice President and CFO | FRANKLIN ELECTRIC CO., INC., 9255 COVERDALE RD, FORT WAYNE IN 46809 |
Luxfer Holdings Plc | director | LUMNS LANE, MANCHESTER X0 M27 8LN |
Alok Maskara | director | 2140 LAKE PARK BLVD, RICHARDSON TX 75080 |
Jay J Walsh | officer: President, Franklin Fueling | 502 CABRILLO COURT, VERONA WI 53593 |
Julie Scheck Freigang | officer: Vice President | 515 FRANKLIN STREET, MICHIGAN CITY IN 46360 |
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