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Function(x) (Function(x)) Net-Net Working Capital : $-21.65 (As of Dec. 2016)


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What is Function(x) 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.

Function(x)'s Net-Net Working Capital for the quarter that ended in Dec. 2016 was $-21.65.

The industry rank for Function(x)'s Net-Net Working Capital or its related term are showing as below:

FNCX's Price-to-Net-Net-Working-Capital is not ranked *
in the Interactive Media industry.
Industry Median: 5.62
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Function(x) Net-Net Working Capital Historical Data

The historical data trend for Function(x)'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.

Function(x) Net-Net Working Capital Chart

Function(x) Annual Data
Trend Dec01 Dec02 Dec09 Dec10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -297.80 -890.12 -46.14 -52.22 -16.76

Function(x) Quarterly Data
Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16
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 -44.57 -33.08 -16.76 -22.42 -21.65

Competitive Comparison of Function(x)'s Net-Net Working Capital

For the Electronic Gaming & Multimedia subindustry, Function(x)'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.


Function(x)'s Price-to-Net-Net-Working-Capital Distribution in the Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Function(x)'s Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Function(x)'s Price-to-Net-Net-Working-Capital falls into.



Function(x) Net-Net Working Capital Calculation

Function(x)'s Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jun. 2016 is calculated as

Net-Net Working Capital(A: Jun. 2016 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(3.032+0.75 * 0.307+0.5 * 0-53.155
-0-0.773)/3.02375
=-16.76

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

Net-Net Working Capital(Q: Dec. 2016 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(0.122+0.75 * 0.742+0.5 * 0-27.949
-42.507-0.469)/3.24428
=-21.65

* 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.


Function(x)  (OTCPK:FNCX) 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.


Function(x) Net-Net Working Capital Related Terms

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Function(x) (Function(x)) Business Description

Traded in Other Exchanges
N/A
Address
Function(x) Inc operates several digital media properties including online destination for entertainment news for millennial women covering the latest in television, music, and pop culture. The company operates through three segments namely Wetpaint, Choose digital, and DDGG. Its Wetpaint segment publishes original news stories and information content covering top television shows, music, celebrities, entertainment news and fashion. The Choose digital segment features recent and range of digital content, including music, movies, television shows, e-books, and audiobooks. Its DDGG segment enables users to draft a fantasy sports team within a salary cap, follow the game action and reap rewards.
Executives
Peter Horan director C/O TREE.COM, INC., 11115 RUSHMORE DRIVE, CHARLOTTE NC 28277
John Miller director STARVEST MANAGEMENT, 750 LEXINGTON AVENUE, NEW YORK NY 10022
Adage Capital Partners Gp, L.l.c. 10 percent owner 200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116

Function(x) (Function(x)) Headlines

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