Macquarie Infrastructure Holdings LLC (Macquarie Infrastructure Holdings LLC) Net-Net Working Capital : $-1.99 (As of Mar. 2022)

View and export this data going back to 2004. Start your Free Trial

What is Macquarie Infrastructure Holdings LLC 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.

Macquarie Infrastructure Holdings LLC's Net-Net Working Capital for the quarter that ended in Mar. 2022 was $-1.99.

The industry rank for Macquarie Infrastructure Holdings LLC's Net-Net Working Capital or its related term are showing as below:

MIC's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Utilities - Regulated industry.
Industry Median: 6.995
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Macquarie Infrastructure Holdings LLC Net-Net Working Capital Historical Data

The historical data trend for Macquarie Infrastructure Holdings LLC'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.

Macquarie Infrastructure Holdings LLC Net-Net Working Capital Chart

Macquarie Infrastructure Holdings LLC Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Net-Net Working Capital

Get a 7-Day Free Trial

-55.27

-44.34

-43.17

-20.07

-1.90

Macquarie Infrastructure Holdings LLC Quarterly Data
	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22
Net-Net Working Capital	Get a 7-Day Free Trial															-16.03	-15.77	-1.80	-1.90	-1.99

Competitive Comparison of Macquarie Infrastructure Holdings LLC's Net-Net Working Capital

For the Utilities - Regulated Gas subindustry, Macquarie Infrastructure Holdings LLC'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.

Macquarie Infrastructure Holdings LLC's Price-to-Net-Net-Working-Capital Distribution in the Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Macquarie Infrastructure Holdings LLC's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Macquarie Infrastructure Holdings LLC's Price-to-Net-Net-Working-Capital falls into.

Macquarie Infrastructure Holdings LLC Net-Net Working Capital Calculation

Macquarie Infrastructure Holdings LLC's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2021 is calculated as

	Net-Net Working Capital		(A: Dec. 2021 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(47.259	+	0.75 * 27.824	+	0.5 * 11.7	-	233.069
-	0	-	8.478)	/	88.3438
=	-1.90

Macquarie Infrastructure Holdings LLC's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2022 is calculated as

	Net-Net Working Capital		(Q: Mar. 2022 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(37.589	+	0.75 * 27.422	+	0.5 * 12.175	-	231.795
-	0	-	8.782)	/	88.8055
=	-1.99

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.

Macquarie Infrastructure Holdings LLC (NYSE:MIC) 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.

Macquarie Infrastructure Holdings LLC Net-Net Working Capital Related Terms

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

Macquarie Infrastructure Holdings LLC (Macquarie Infrastructure Holdings LLC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Macquarie Infrastructure Holdings LLC (NYSE:MIC) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

N/A

Address

125 West 55th Street, New York, NY, USA, 10019

Website

https://www.micinc.com

Macquarie Infrastructure Holdings LLC is a diversified business company. The company's business comprises (i) Hawaii Gas, Hawaii's only government-franchised gas utility and an unregulated LPG distribution business providing gas and related services to industrial, commercial, residential, and governmental customers; (ii) controlling interests in two solar facilities on Oahu; and (iii) smaller projects collectively engaged in efforts to reduce the cost and improve the reliability and sustainability of energy in Hawaii. The company serves corporations, government agencies, and individual customers primarily in the United States.

Executives

Christopher Frost	director, officer: Chief Executive Officer	C/O MACQUARIE INFRASTRUCTURE CORPORATION 125 WEST 55TH STREET NEW YORK NY 10019
Nick O'neil	officer: Chief Financial Officer	C/O MACQUARIE INFRASTRUCTURE CORPORATION 125 WEST 55TH STREET NEW YORK NY 10019
Michael Kernan	officer: General Counsel and Secretary	125 W 55TH STREET NEW YORK NY 10019
Jay Davis	officer: Vice President	125 W. 55TH STREET LEVEL 15 NEW YORK NY 10019
Martin Stanley	director	C/O MACQUARIE INFRASTRUCTURE COMPANY LLC 125 WEST 55TH STREET NEW YORK NY 10019
Ronald Kirk	director	TEXAS INSTRUMENTS INCORPORATED, 12500 TI BOULEVARD MS 3999, DALLAS TX 75243
Maria S. Dreyfus	director	125 WEST 55TH STREET, 15TH FLOOR, NEW YORK NY 10019
Ouma Sananikone	director	C/O MACQUARIE INFRASTRUCTURE COMPANY LLC, 125 WEST 55TH STREET, NEW YORK NY 10019
Henry E Lentz	director	ONE WILLIAMS CENTER, SUITE 3800, TULSA OK 74172
Amanda M Brock	director	840 GESSNER ROAD, SUITE 1400, HOUSTON TX 77024
Brown Norman H Jr	director	C/O MACQUARIE INFRASTRUCTURE COMPANY LLC 125 WEST 55TH STREET NEW YORK NY 10019
Mihi Llc	director, 10 percent owner	125 WEST 55TH STREET, NEW YORK NY 10019
Macquarie Infrastructure Management (usa) Inc	director, 10 percent owner	125 WEST 55TH STREET, 15TH FLOOR NEW YORK NY 10019
Macquarie Group Ltd	10 percent owner	50 MARTIN PLACE, SYDNEY, NSW 2000 C3 2000
Carmany George W Iii	other: Former Director	C/O MACQUARIE INFRASTRUCTURE COMPANY LLC 600 FIFTH AVENUE, 21ST FLOOR NEW YORK NY 10020