Jacksonville Bancorp (Jacksonville Bancorp) Net-Net Working Capital : $-75.67 (As of Sep. 2015)

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What is Jacksonville Bancorp 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.

Jacksonville Bancorp's Net-Net Working Capital for the quarter that ended in Sep. 2015 was $-75.67.

The industry rank for Jacksonville Bancorp's Net-Net Working Capital or its related term are showing as below:

JAXB's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Banks industry.
Industry Median: 7.205
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Jacksonville Bancorp Net-Net Working Capital Historical Data

The historical data trend for Jacksonville Bancorp'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.

Jacksonville Bancorp Net-Net Working Capital Chart

Jacksonville Bancorp Annual Data

Trend

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Net-Net Working Capital

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-1,991.05

-1,772.98

-183.84

-78.78

-73.80

Jacksonville Bancorp Quarterly Data
	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15
Net-Net Working Capital	Get a 7-Day Free Trial															-76.87	-73.80	-73.13	-74.74	-75.67

Competitive Comparison of Jacksonville Bancorp's Net-Net Working Capital

For the Banks - Regional subindustry, Jacksonville Bancorp'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.

Jacksonville Bancorp's Price-to-Net-Net-Working-Capital Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Jacksonville Bancorp's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Jacksonville Bancorp's Price-to-Net-Net-Working-Capital falls into.

Jacksonville Bancorp Net-Net Working Capital Calculation

Jacksonville Bancorp's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2014 is calculated as

	Net-Net Working Capital		(A: Dec. 2014 )
=	(Balance Sheet Cash And Cash Equivalents	+	Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(23.778	+	0	+	0.75 * 0	+	0.5 * 0	-	451.472
-	0	-	0)	/	5.79512
=	-73.80

Jacksonville Bancorp's Net-Net Working Capital (NNWC) per share for the quarter that ended in Sep. 2015 is calculated as

	Net-Net Working Capital		(Q: Sep. 2015 )
=	(Balance Sheet Cash And Cash Equivalents	+	Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(24.538	+	0	+	0.75 * 0	+	0.5 * 0	-	463.134
-	0	-	0)	/	5.79628
=	-75.67

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.

Jacksonville Bancorp (NAS:JAXB) 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.

Jacksonville Bancorp Net-Net Working Capital Related Terms

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Jacksonville Bancorp (Jacksonville Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Jacksonville Bancorp Inc (NAS:JAXB) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.jaxbank.com

Jacksonville Bancorp Inc was incorporated under the laws of the State of Florida on October 24, 1997 for the purpose of organizing the Bank. It is a one-bank holding company owning 100% of the outstanding shares of the Bank. The Company's only business is the ownership and operation of the Bank, which opened for business on May 28, 1999. The Bank is a Florida state-chartered commercial bank, and its deposits are insured by the FDIC. Its market area is all of Duval County mainly the Southside, Westside, Arlington, Mandarin and Downtown areas of Jacksonville and Jacksonville Beach, Florida, in addition to surrounding communities within the St. Johns, Clay and Nassau counties. Jacksonville is the largest city by area in the United States covering 747 square miles. Duval County has a strong commercial and industrial base, which has been steadily expanding in recent years. Financial institutions compete with one another for deposits. The Company is in competition with existing area financial institutions, including commercial banks and savings institutions, insurance companies, consumer finance companies, brokerage houses, mortgage banking companies, credit unions, and other business entities which target traditional banking markets, through offices, mail, the internet, mobile devices and otherwise. Its primary business segment is community banking and consists of attracting deposits from the general public and using such deposits and other sources of funds to originate commercial business loans, commercial real estate loans, residential mortgage loans, and a variety of consumer loans. The Company is regulated by the Federal Reserve Board under the Federal Bank Holding Company Act.

Executives

Margaret A Incandela	officer: EVP; COO; Chief Credit Officer	100 NORTH LAURA STREET, SUITE 1000, JACKSONVILLE FL 32202
John W Rose	director, 10 percent owner	100 NORTH LAURA STREET, SUITE 1000, JACKSONVILLE FL 32202
Eugene Ludwig	director, 10 percent owner	280 PARK AVENUE, 40TH FLOOR WEST, SUITE 401, NEW YORK NY 10017
Robert Goldstein	10 percent owner
John P Sullivan	director, 10 percent owner	280 PARK AVENUE, 40TH FLOOR WEST, NEW YORK NY 10017

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