The New Ireland Fund (The New Ireland Fund) Net-Net Working Capital : $0.15 (As of Oct. 2022)

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What is The New Ireland Fund 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.

The New Ireland Fund's Net-Net Working Capital for the quarter that ended in Oct. 2022 was $0.15.

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

IRL's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Asset Management industry.
Industry Median: 6.22
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

The New Ireland Fund Net-Net Working Capital Historical Data

The historical data trend for The New Ireland Fund'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.

The New Ireland Fund Net-Net Working Capital Chart

The New Ireland Fund Annual Data

Trend

Oct16

Oct17

Oct18

Oct19

Oct20

Oct21

Oct22

Net-Net Working Capital

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0.22

0.04

0.01

-0.11

0.15

The New Ireland Fund Semi-Annual Data
	Oct16	Oct17	Apr18	Oct18	Apr19	Oct19	Apr20	Oct20	Apr21	Oct21	Apr22	Oct22
Net-Net Working Capital	Get a 7-Day Free Trial							0.01	0.07	-0.11	0.01	0.15

Competitive Comparison of The New Ireland Fund's Net-Net Working Capital

For the Asset Management subindustry, The New Ireland Fund'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.

The New Ireland Fund's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, The New Ireland Fund's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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

The New Ireland Fund Net-Net Working Capital Calculation

The New Ireland Fund's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Oct. 2022 is calculated as

	Net-Net Working Capital		(A: Oct. 2022 )
=	(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)
=	(0.699	+	0	+	0.75 * 0	+	0.5 * 0	-	0.169
-	0	-	0)	/	3.62698
=	0.15

The New Ireland Fund's Net-Net Working Capital (NNWC) per share for the quarter that ended in Oct. 2022 is calculated as

	Net-Net Working Capital		(Q: Oct. 2022 )
=	(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)
=	(0.699	+	0	+	0.75 * 0	+	0.5 * 0	-	0.169
-	0	-	0)	/	3.62698
=	0.15

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.

The New Ireland Fund (NYSE:IRL) 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.

The New Ireland Fund Net-Net Working Capital Related Terms

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The New Ireland Fund (The New Ireland Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » The New Ireland Fund Inc (NYSE:IRL) » Definitions » Net-Net Working Capital

Comparable Companies

CIF AAMC RAND MFV GRF PYN MXE EGF PIAC NOM BLK OSTO:INVE A BX TSX:BN KKR APO BK AMP STT TROW

Traded in Other Exchanges

N/A

Address

201 Washington Street, 36th Floor, One Boston Place, Boston, MA, USA, 02108

Website

https://www.newirelandfund.com

The New Ireland Fund Inc is a non-diversified, closed-end management investment company. The fund's investment objective is long-term capital appreciation through investment primarily in equity securities of Irish companies. The fund invests in various sectors such as Construction Materials, Airlines, Building products, Hotels, Restaurants and Leisure, Bank, Food products, and others.

Executives

Saba Capital Management, L.p.	10 percent owner	405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Boaz Weinstein	10 percent owner	405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Investors, Llp Bulldog	10 percent owner	PARK 80 WEST - PLAZA TWO, 250 PEHLE AVE. SUITE 708, SADDLE BROOK NJ 07663
Phillip Goldstein	10 percent owner	60 HERITAGE DRIVE, PLEASANTVILLE NY 10570
Andrew Dakos	10 percent owner	250 PEHLE AVE., SUITE 708, SADDLE BROOK NJ 07663
Suzanne O Hammer	other: Chief Compliance Officer	47 HARBORVIEW AVENUE, NORWALK CT 06854
Derval Murray	officer: Treasurer	KBI GLOBAL INVESTORS, 3RD FLOOR, 2 HARBOURMASTER PLACE, IFSC, DUBLIN L2 D01 X5P3
Minninger Paul Richard Ii	officer: Chief Compliance Officer	223 WILMINGTON WEST CHESTER PIKE, SUITE 216, CHADDS FORD PA 19317
Hoagland Eleanor T.m.	director	C/O KBI GLOBAL INVESTORS (NA) LTD, 201 WASHINGTON STREET, 36TH FLOOR, BOSTON MA 02108
Margaret Duffy	director	164 EAST 72 STREET, NEW YORK NY 10021
Michael Pignataro	director	C/O THE NEW IRELAND FUND, INC., ONE BOSTON PLACE, 34TH FLOOR, 201 WASHINGTON STREET, BOSTON MA 02109
Maat Angela Ter	officer: Secretary	811 E. WISCONSIN AVENUE, MILWAUKEE WI 53202
Bryan Peter Deering	officer: Assistant Treasurer	4400 COMPUTER DRIVE, WESTBOROUGH MA 01581
Sean Michael Hawkshaw	director	JOSHUA DAWSON HOUSE, DAWSON STREET, DUBLIN L2 2
Leona Nicholson	officer: President	BANK OF IRELAND ASSET MANAGEMENT (US)LTD, 40 MESPIL ROAD, DUBLIN 4 L2