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FTCI (FTC Solar) Net-Net Working Capital : $-0.16 (As of Jun. 2024)


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What is FTC Solar 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.

FTC Solar's Net-Net Working Capital for the quarter that ended in Jun. 2024 was $-0.16.

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

FTCI's Price-to-Net-Net-Working-Capital is not ranked *
in the Semiconductors industry.
Industry Median: 8.025
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

FTC Solar Net-Net Working Capital Historical Data

The historical data trend for FTC Solar'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.

FTC Solar Net-Net Working Capital Chart

FTC Solar Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Net-Net Working Capital
-0.32 -0.16 0.38 0.10 0.01

FTC Solar Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
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 0.10 0.07 0.01 -0.05 -0.16

Competitive Comparison of FTC Solar's Net-Net Working Capital

For the Solar subindustry, FTC Solar'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.


FTC Solar's Price-to-Net-Net-Working-Capital Distribution in the Semiconductors Industry

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

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



FTC Solar Net-Net Working Capital Calculation

FTC Solar'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)
=(25.235+0.75 * 46.152+0.5 * 3.905-60.599
-0-0)/125.445
=0.01

FTC Solar's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jun. 2024 is calculated as

Net-Net Working Capital(Q: Jun. 2024 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(10.779+0.75 * 22.006+0.5 * 17.061-56.109
-0-0)/127.003
=-0.16

* 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.


FTC Solar  (NAS:FTCI) 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.


FTC Solar Net-Net Working Capital Related Terms

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FTC Solar Business Description

Traded in Other Exchanges
Address
9020 North Capital of Texas Highway, Suite I-260, Austin, TX, USA, 78759
FTC Solar Inc is a provider of solar tracker systems, supported by proprietary software and value-added engineering services. The company's Solar tracker systems move solar panels throughout the day to maintain an optimal orientation relative to the sun, thereby increasing the amount of solar energy produced at a solar installation. It focuses on providing differentiated products, software, and services that maximize energy generation. The company has launched a new mounting solution to support the installation and use of U.S. manufactured thin-film modules by project owners. The only segment the company is engaged in is the Manufacturing and Servicing of Solar tracker systems.
Executives
Ahmad R Chatila director 3901 NO. FIRST STREET, SAN JOSE CA 95134
Quiroga Cortes Isidoro Alfonso director 9020 N CAPITAL OF TEXAS HWY, SUITE I-260, AUSTIN TX 78759
Patrick Cook officer: CHIEF FINANCIAL OFFICER 9020 N CAPITAL OF TEXAS HWY, SUITE I-260, AUSTIN TX 78759
Tamara Mullings director C/O FTC SOLAR, INC., 9020 N CAPITAL OF TEXAS HWY, SUITE I-260, AUSTIN TX 78759
Robert Phelps Morris officer: CHIEF FINANCIAL OFFICER C/O FTC SOLAR, INC., 9020 N CAPITAL OF TEXAS HWY, SUITE I-250, AUSTIN TX 78759
Shaker Sadasivam director P O BOX 8, SAINT PETERS MO 63376
William A Priddy director C/O RF MICRO DEVICES, INC., 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Cathy Behnen officer: CHIEF ACCOUNTING OFFICER 9020 N CAPITAL OF TEXAS HWY, SUITE I-260, AUSTIN TX 78759
Sasan Aminpour officer: Chief Operating Officer C/O FTC SOLAR, INC., 9020 N CAPITAL OF TEXAS HWY, SUITE I-260, AUSTIN TX 78759
Arc Family Trust 10 percent owner 9020 N CAPITAL OF TEXAS HWY, SUITE I-260, AUSTIN TX 78759
Kristian Nolde officer: VP, MARKETING AND STRATEGY 9020 N CAPITAL OF TEXAS HWY, SUITE I-260, AUSTIN TX 78759
David Springer director, 10 percent owner 2718 LOYAGA DRIVE, ROUND ROCK TX 78681
Nagendra Cherukupalli officer: CHIEF TECHNOLOGY OFFICER 9020 N CAPITAL OF TEXAS HWY, SUITE I-260, AUSTIN TX 78759
Sean Hunkler director, officer: PRESIDENT AND CEO C/O WESTERN DIGITAL CORPORATION, 5601 GREAT OAKS PARKWAY, SAN JOSE CA 95119
Thurman J Rodgers director 535 EASTVIEW WAY, WOODSIDE CA 94062