Yangzijiang Financial Holding (SGX:YF8) Net-Net Working Capital : S$0.64 (As of Dec. 2023)

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What is Yangzijiang Financial Holding 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.

Yangzijiang Financial Holding's Net-Net Working Capital for the quarter that ended in Dec. 2023 was S$0.64.

The industry rank for Yangzijiang Financial Holding's Net-Net Working Capital or its related term are showing as below:

SGX:YF8's Price-to-Net-Net-Working-Capital is ranked better than
97.08% of 514 companies
in the Asset Management industry
Industry Median: 6.225 vs SGX:YF8: 0.52

Yangzijiang Financial Holding Net-Net Working Capital Historical Data

The historical data trend for Yangzijiang Financial Holding'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.

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Yangzijiang Financial Holding Net-Net Working Capital Chart

Yangzijiang Financial Holding Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Net-Net Working Capital

0.56

0.69

0.84

0.71

0.64

Yangzijiang Financial Holding Semi-Annual Data
	Dec19	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Net-Net Working Capital	Get a 7-Day Free Trial			0.84	0.68	0.71	0.63	0.64

Competitive Comparison of Yangzijiang Financial Holding's Net-Net Working Capital

For the Asset Management subindustry, Yangzijiang Financial Holding'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.

Yangzijiang Financial Holding's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

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

* The bar in red indicates where Yangzijiang Financial Holding's Price-to-Net-Net-Working-Capital falls into.

Yangzijiang Financial Holding Net-Net Working Capital Calculation

Yangzijiang Financial Holding'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)
=	(2656.004	+	0.75 * 5.376	+	0.5 * 0	-	262.456
-	0	-	77.487)	/	3597.88
=	0.64

Yangzijiang Financial Holding's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2023 is calculated as

	Net-Net Working Capital		(Q: Dec. 2023 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(2656.004	+	0.75 * 5.376	+	0.5 * 0	-	262.456
-	0	-	77.487)	/	3597.88
=	0.64

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.

Yangzijiang Financial Holding (SGX:YF8) 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.

Yangzijiang Financial Holding Net-Net Working Capital Related Terms

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Yangzijiang Financial Holding (SGX:YF8) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Yangzijiang Financial Holding Ltd (SGX:YF8) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

YNGFF:USA

Address

9 Raffles Place, No. 54-01 Republic Plaza, Singapore, SGP, 048619

Website

https://www.yzjfin.com

Yangzijiang Financial Holding Ltd operates as an investment management business, which seeks capital appreciation and investment income from investments in both public and private companies as funds, as well as deploying funds into various situations, and the debt investment business, which is primarily made up of debt investments. The principal activities of the Group consist of micro-financing, debt investments at amortized cost, fund management and other investments and therefore management considers that the Group operates in one single business segment at two geographical locations.

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