MainStay CBRE Global Infrastructure Megatrends Fund (MainStay CBRE Global Infrastructure Megatrends Fund) Net-Net Working Capital : $-5.43 (As of Nov. 2023)

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What is MainStay CBRE Global Infrastructure Megatrends 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.

MainStay CBRE Global Infrastructure Megatrends Fund's Net-Net Working Capital for the quarter that ended in Nov. 2023 was $-5.43.

The industry rank for MainStay CBRE Global Infrastructure Megatrends Fund's Net-Net Working Capital or its related term are showing as below:

MEGI's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Asset Management industry.
Industry Median: 6.37
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

MainStay CBRE Global Infrastructure Megatrends Fund Net-Net Working Capital Historical Data

The historical data trend for MainStay CBRE Global Infrastructure Megatrends 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.

MainStay CBRE Global Infrastructure Megatrends Fund Net-Net Working Capital Chart

MainStay CBRE Global Infrastructure Megatrends Fund Annual Data

Trend

May22

May23

Net-Net Working Capital

-5.88

MainStay CBRE Global Infrastructure Megatrends Fund Semi-Annual Data
	Nov22	May23	Nov23
Net-Net Working Capital	-6.73	-5.88	-5.43

Competitive Comparison of MainStay CBRE Global Infrastructure Megatrends Fund's Net-Net Working Capital

For the Asset Management subindustry, MainStay CBRE Global Infrastructure Megatrends 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.

MainStay CBRE Global Infrastructure Megatrends Fund's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, MainStay CBRE Global Infrastructure Megatrends Fund's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where MainStay CBRE Global Infrastructure Megatrends Fund's Price-to-Net-Net-Working-Capital falls into.

MainStay CBRE Global Infrastructure Megatrends Fund Net-Net Working Capital Calculation

MainStay CBRE Global Infrastructure Megatrends Fund's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in May. 2023 is calculated as

	Net-Net Working Capital		(A: May. 2023 )
=	(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	+	0	+	0.75 * 0	+	0.5 * 0	-	305.833
-	0	-	0)	/	52.0475
=	-5.88

MainStay CBRE Global Infrastructure Megatrends Fund's Net-Net Working Capital (NNWC) per share for the quarter that ended in Nov. 2023 is calculated as

	Net-Net Working Capital		(Q: Nov. 2023 )
=	(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)
=	(0.001	+	0	+	0.75 * 0	+	0.5 * 0	-	282.385
-	0	-	0)	/	52.0475
=	-5.43

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.

MainStay CBRE Global Infrastructure Megatrends Fund (NYSE:MEGI) 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.

MainStay CBRE Global Infrastructure Megatrends Fund Net-Net Working Capital Related Terms

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MainStay CBRE Global Infrastructure Megatrends Fund (MainStay CBRE Global Infrastructure Megatrends Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » MainStay CBRE Global Infrastructure Megatrends Fund (NYSE:MEGI) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

N/A

Address

51 Madison Avenue, New York, NY, USA, 10010

Website

https://www.newyorklifeinvestments.com

MainStay CBRE Global Infrastructure Megatrends Fund is a non-diversified, closed-end management investment company. The Fund's investment objective is to seek a high level of total return with an emphasis on current income.

Executives

Jacques P Perold	director	51 MADISON AVENUE, NEW YORK NY 10010
Joseph P Smith	other: Portfolio Manager	201 KING OF PRUSSIA RD SUITE 600, RADNOR PA 19087
Jeremy Anagnos	other: Portfolio Manager	201 KING OF PRUSSIA ROAD, SUITE 600, RADNOR PA 19087
Naim Abou-jaoude	other: CEO, NY LIFE INVEST MGMENT LLC	200 ALDERSGATE STREET, C/O CANDRIAM, NORTH ENTRANCE, LONDON X0 EC1A4HD
Alain M Karaoglan	other: Chairman & Interim CEO	230 PARK AVENUE, NEW YORK NY 10169
Richard S Trutanic	director	51 MADISON AVENUE, NEW YORK NY 10010
Kevin M Gleason	officer: Chief Compliance Officer	30 HUDSON STREET, JERSEY CITY NJ 07302
Daniel Ryan Foley	other: Portfolio Manager	201 KING OF PRUSSIA ROAD, SUITE 600, RADNOR PA 19087
Kirk C Lehneis	officer: President	51 MADISON AVENUE, NEW YORK NY 10010
Hinds Howard	other: Portfolio Manager	201 KING OF PRUSSIA ROAD, SUITE 600, RADNOR PA 19087
Cbre Investment Management Listed Real Assets Llc	other: Subadviser	555 EAST LANCASTER AVENUE, SUITE 120, RADNOR PA 19087
Alan R Latshaw	director	51 MADISON AVENUE, NEW YORK NY 10010
Yie-hsin Hung	director	30 HUDSON STREET, JERSEY CITY NJ 07302
Scott T Harrington	officer: Vice President-Administration	169 LACKAWANNA AVENUE, PARSIPPANY NJ 07054
Susan B Kerley	director	51 MADISON AVENUE, NEW YORK NY 10010