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Flaherty & Crumrine Prfdome Oppo (Flaherty & Crumrine Prfdome Oppo) Net-Net Working Capital : $-6.21 (As of Nov. 2023)


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What is Flaherty & Crumrine Prfdome Oppo 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.

Flaherty & Crumrine Prfdome Oppo's Net-Net Working Capital for the quarter that ended in Nov. 2023 was $-6.21.

The industry rank for Flaherty & Crumrine Prfdome Oppo's Net-Net Working Capital or its related term are showing as below:

PFO's Price-to-Net-Net-Working-Capital is not ranked *
in the Asset Management industry.
Industry Median: 6.38
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Flaherty & Crumrine Prfdome Oppo Net-Net Working Capital Historical Data

The historical data trend for Flaherty & Crumrine Prfdome Oppo'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.

Flaherty & Crumrine Prfdome Oppo Net-Net Working Capital Chart

Flaherty & Crumrine Prfdome Oppo Annual Data
Trend Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23
Net-Net Working Capital
Get a 7-Day Free Trial -5.96 -5.91 -6.23 -6.21 -6.21

Flaherty & Crumrine Prfdome Oppo Semi-Annual Data
Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23
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 -6.23 -6.19 -6.21 -6.21 -6.21

Competitive Comparison of Flaherty & Crumrine Prfdome Oppo's Net-Net Working Capital

For the Asset Management subindustry, Flaherty & Crumrine Prfdome Oppo'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.


Flaherty & Crumrine Prfdome Oppo's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Flaherty & Crumrine Prfdome Oppo's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Flaherty & Crumrine Prfdome Oppo's Price-to-Net-Net-Working-Capital falls into.



Flaherty & Crumrine Prfdome Oppo Net-Net Working Capital Calculation

Flaherty & Crumrine Prfdome Oppo's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Nov. 2023 is calculated as

Net-Net Working Capital(A: 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+0+0.75 * 0+0.5 * 0-81.271
-0-0)/13.0773
=-6.21

Flaherty & Crumrine Prfdome Oppo'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+0+0.75 * 0+0.5 * 0-81.271
-0-0)/13.0773
=-6.21

* 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.


Flaherty & Crumrine Prfdome Oppo  (NYSE:PFO) 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.


Flaherty & Crumrine Prfdome Oppo Net-Net Working Capital Related Terms

Thank you for viewing the detailed overview of Flaherty & Crumrine Prfdome Oppo's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.


Flaherty & Crumrine Prfdome Oppo (Flaherty & Crumrine Prfdome Oppo) Business Description

Traded in Other Exchanges
N/A
Address
301 E. Colorado Boulevard, Suite 800, Pasadena, CA, USA, 91101
Flaherty & Crumrine Prfd Income Oppo is the United States-based diversified, closed-end investment company. Its primary investment objective is to produce high current income consistent with the preservation of capital. The fund invests primarily in a diversified portfolio of preferred securities which includes traditional preferred stocks eligible for the inter-corporate dividends received a deduction and fully taxable preferred securities.
Executives
Karen Hanovice Hogan director 301 EAST COLORADO BLVD, SUITE 720, PASADENA CA 91101
Chad Conwell officer: VP & Asst. Compliance Officer 301 E. COLORADO BLVD., SUITE 720, PASADENA CA 91101
Robert M Ettinger officer: President 301 E COLORADO BLVD STE 720, PASADENA CA 91101
Robert F Wulf director 301 E. COLORADO BLVD., SUITE 720, PASADENA CA 91101
Bank Of America Corp /de/ 10 percent owner BANK OF AMERICA CORPORATE CENTER, 100 N TRYON ST, CHARLOTTE NC 28255
Merrill Lynch, Pierce, Fenner & Smith Inc. 10 percent owner 4 WORLD FINANCIAL CENTER, NORTH TOWER, NEW YORK NY 10080
Banc Of America Securities Llc 10 percent owner 100 N TRYON ST., 25TH FLOOR, CHARLOTTE NC 28255
Donald F Crumrine director, officer: Chairman of the Board 301 E COLORADO BLVD STE 720, PASADENA CA 91101
Christopher Douglas Ryan officer: Vice President 310 EAST COLORADO BLVD, SUITE 720, PASADENA CA 91101
Martin Brody director C/O HMK ASSOCIATES, 30 COLUMBIA TURNPIKE, FLORHAM PARK NJ 07932
Laurie C Lodolo officer: Asst CCO, Asst Treas, Asst Sec 301 E. COLORADO BOULEVARD, SUITE 720, PASADENA CA 91101
Robert E Chadwick officer: Vice President 301 E COLORADO BLVD STE 720, PASADENA CA 91101
Peter C Stimes officer: VP,CFO,Chf Acct Officer 301 E COLORADO BLVD STE 720, PASADENA CA 91101
David Gale director 220 MONTGOMERY STREET, SUITE 426, SAN FRANCISCO CA 94104
Bradford S Stone officer: Vice President, Asst Treasurer 47 MAPLE ST. SUITE 403, SUMMIT NJ 07901

Flaherty & Crumrine Prfdome Oppo (Flaherty & Crumrine Prfdome Oppo) Headlines