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SanDisk (SanDisk) Net-Net Working Capital : $5.68 (As of Mar. 2016)


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What is SanDisk 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.

SanDisk's Net-Net Working Capital for the quarter that ended in Mar. 2016 was $5.68.

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

SNDK's Price-to-Net-Net-Working-Capital is not ranked *
in the Hardware industry.
Industry Median: 6.66
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

SanDisk Net-Net Working Capital Historical Data

The historical data trend for SanDisk'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.

SanDisk Net-Net Working Capital Chart

SanDisk Annual Data
Trend Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.93 2.67 1.22 -2.32 6.88

SanDisk Quarterly Data
Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16
Net-Net Working Capital Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.98 -4.37 -3.95 6.88 5.68

Competitive Comparison of SanDisk's Net-Net Working Capital

For the Computer Hardware subindustry, SanDisk'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.


SanDisk's Price-to-Net-Net-Working-Capital Distribution in the Hardware Industry

For the Hardware industry and Technology sector, SanDisk's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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



SanDisk Net-Net Working Capital Calculation

SanDisk's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2015 is calculated as

Net-Net Working Capital(A: Dec. 2015 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(4006.193+0.75 * 618.191+0.5 * 809.395-3491.837
-0-0)/200.973
=6.88

SanDisk's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2016 is calculated as

Net-Net Working Capital(Q: Mar. 2016 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(4521.294+0.75 * 497.183+0.5 * 881.056-4181.781
-0-0)/202.935
=5.68

* 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.


SanDisk  (NAS:SNDK) 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.


SanDisk Net-Net Working Capital Related Terms

Thank you for viewing the detailed overview of SanDisk's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.


SanDisk (SanDisk) Business Description

Industry
Traded in Other Exchanges
N/A
Address
SanDisk Corp was incorporated in Delaware in June 1988. The Company designs, develops and manufactures data storage solutions in a variety of form factors using flash memory, controller, firmware and software technologies. Its solutions include SSDs, embedded products, removable cards, universal serial bus, or USB, drives, wireless media drives, digital media players and wafers and components. The Company's SSD products are used in both client computing platforms and enterprise data centers. Its embedded flash products are used in mobile phones, tablets, computing platforms, imaging devices, and many other products. Its removable cards are used in consumer electronics devices such as mobile phones, tablets, digital cameras, gaming devices and personal computers or PCs. The Company operates in one segment, flash memory storage products. It operates in United States, China, Taiwan, Other Asia-Pacific & Europe, Middle East and Africa. The Company competes with NAND flash memory manufacturers, including Hynix, Intel, Micron Technology, Inc., or Micron, Samsung and Toshiba. The Company's primary competitors currently include, among others, Kingston Technology Company, Inc., or Kingston, Lexar Media, Inc., or Lexar, a subsidiary of Micron, PNY Technologies, Inc., or PNY, Samsung, Sony and Transcend Information, Inc., or Transcend. In the USB flash drive market. SanDisk is the Company's trademark, and is registered in the U.S. and other countries.
Executives
Judy Bruner officer: Exec. VP, Administration, CFO C/O SANDISK CORPORATION, 601 MCCARTHY BLVD., MILPITAS CA 95035
Mark David Brazeal officer: SVP, Chief Legal Officer & IP 1320 RIDDER PARK DRIVE, SAN JOSE CA 95131
Eddy W Hartenstein director
Chenming Hu director 2060 PEBBLE DRIVE, ALAMO CA 94507
Catherine P Lego director C/O GUIDEWIRE SOFTWARE, INC., 970 PARK PL, SUITE 200, SAN MATEO CA 94403
Michael E Marks director
Steven J Gomo director 495 E. JAVA DRIVE, SUNNYVALE CA 94089
Sanjay Mehrotra director, officer: President/CEO C/O WESTERN DIGITAL CORPORATION, 3355 MICHELSON DRIVE, SUITE 100, IRVINE CA 92612
Robertson Donald F Jr officer: VP & Chief Accounting Officer C/O NVIDIA CORPORATION, 2788 SAN TOMAS EXPRESSWAY, SANTA CLARA CA 95051
Srinivasan Sivaram officer: EVP, Memory Technology C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
Irwin Federman director 2735 SAND HILL ROAD, MENLO PARK CA 94025
Sumit Sadana officer: EVP, CSO & GM Enterprise 47544 AVALON HEIGHTS TERRACE, FREMONT CA 94539
Eric S Whitaker officer: SVP & Senior Legal Officer
Kevin A Denuccio director 300 HOLGER WAY, SAN JOSE CA 95134
Randhir Thakur officer: EVP,Technology & Worldwide Ops C/O APPLIED MATERIALS, INC., 3050 BOWERS AVENUE, P.O. BOX 58039, SANTA CLARA CA 95052-8039

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