NGL Energy Partners LP (NGL Energy Partners LP) Net-Net Working Capital

: $-27.58 (As of Dec. 2023)

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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.

NGL Energy Partners LP's Net-Net Working Capital for the quarter that ended in Dec. 2023 was $-27.58.

The industry rank for NGL Energy Partners LP's Net-Net Working Capital or its related term are showing as below:

NGL's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Oil & Gas industry.
Industry Median: 5.1
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

NGL Energy Partners LP Net-Net Working Capital Historical Data

The historical data trend for NGL Energy Partners LP'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.

NGL Energy Partners LP Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Net-Net Working Capital

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-21.67

-29.56

-29.95

-29.41

-24.96

NGL Energy Partners LP Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Net-Net Working Capital	Get a 7-Day Free Trial															-31.62	-24.96	-28.47	-28.97	-27.58

Competitive Comparison

For the Oil & Gas Midstream subindustry, NGL Energy Partners LP'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.

NGL Energy Partners LP Price-to-Net-Net-Working-Capital Distribution

For the Oil & Gas industry and Energy sector, NGL Energy Partners LP's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where NGL Energy Partners LP's Price-to-Net-Net-Working-Capital falls into.

NGL Energy Partners LP Net-Net Working Capital Calculation

NGL Energy Partners LP's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Mar. 2023 is calculated as

	Net-Net Working Capital		(A: Mar. 2023 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(5.431	+	0.75 * 1046.318	+	0.5 * 142.607	-	4137.618
-	0	-	16.507)	/	131.927
=	-24.96

NGL Energy Partners LP'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)
=	(0.738	+	0.75 * 1014.962	+	0.5 * 201.575	-	4501.663
-	0	-	15.884)	/	132.513
=	-27.58

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.

NGL Energy Partners LP (NYSE:NGL) 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.

NGL Energy Partners LP Net-Net Working Capital Related Terms

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NGL Energy Partners LP (NGL Energy Partners LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » NGL Energy Partners LP (NYSE:NGL) » Definitions » Net-Net Working Capital

Comparable Companies

BROG TK TNP EE OSG GPP SMLP PBT BPT MMLP TSX:ENB EPD WMB ET LNG OKE MPLX KMI TSX:TRP CQP

Traded in Other Exchanges

NGLpC.PFD:USA NGLpB.PFD:USA

Address

6120 South Yale Avenue, Suite 805, Tulsa, OK, USA, 74136

Website

https://www.nglenergypartners.com

NGL Energy Partners LP is a us-based firm that owns and operates a vertically integrated energy business. The company's operating segments include Crude Oil Logistics, Water Solutions, and Liquids Logistics. It operates crude oil storage terminals, and owns pipeline injection stations and offers services for the treatment and disposal of wastewater generated from crude oil and natural gas production, and for the disposal of solids, such as tank bottoms and drilling fluids. The firm also supplies natural gas liquids to retailers, wholesalers, refiners and petrochemical plants and sells propane and distillates.

Executives

Bradley P Cooper	officer: CFO & EVP	6120 S YALE AVE SUITE 805, TULSA OK 74136
H Michael Krimbill	director, officer: CEO	8801 S YALE STE 310, TULSA OK 74137
Derek S Reiners	director	100 W. 5TH ST., TULSA OK 74103
James M Collingsworth	director	1100 LOUISIANA 10TH FLOOR, HOUSTON TX 77002
John Ciolek	officer: Exec. Vice President	6120 S. YALE AVE., SUITE 805, TULSA OK 74136
Kurston Patrick Mcmurray	officer: GC, SVP and Secretary	6120 S. YALE AVE., SUITE 805, TULSA OK 74136
Linda J Bridges	officer: CFO & EVP	6120 S. YALE AVE., SUITE 805, TULSA OK 74136
Eig Neptune Equity Aggregator, L.p.	10 percent owner	600 NEW HAMPSHIRE AVE NW, SUITE 1200, WASHINGTON DC 20037
Karlovich Robert W Iii	officer: CFO, Exec. VP and Treasurer	ATLAS PIPELINE PARTNERS, GP, 110 W. 7TH, SUITE 2300, TULSA OK 74119
Brian P. Boland	director	1700 PENNSYLVANIA AVE NW, SUITE 800, WASHINGTON DC 20006
John T Raymond	10 percent owner	THE ENERGY & MINERALS GROUP, 811 MAIN STREET, SUITE 4200, HOUSTON TX 77002
Highstar Capital Ngl Co-invest Manager Llc	10 percent owner	1301 AVENUE OF THE AMERICAS, 33RD FLOOR, NEW YORK NY 10019
Highstar Ngl Main Interco Llc	10 percent owner	1301 AVENUE OF THE AMERICAS, 33RD FLOOR, NEW YORK NY 10019
Highstar Capital Gp Iv Holdings	10 percent owner	1301 AVENUE OF THE AMERICAS, 33RD FLOOR, NEW YORK NY 10019
Ngl Civ A, Llc	10 percent owner	1301 AVENUE OF THE AMERICAS, 33RD FLOOR, NEW YORK NY 10019