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Ascena Retail Group Inc  (NAS:ASNA) Cash, Cash Equivalents, Marketable Securities: $300 Mil (As of Apr. 2017)

Ascena Retail Group Inc's quarterly cash, cash equivalents, marketable securities increased from Oct. 2016 ($270.70 Mil) to Jan. 20 ($299.50 Mil) and increased from Jan. 20 ($299.50 Mil) to Apr. 2017 ($300.10 Mil).

Ascena Retail Group Inc's annual cash, cash equivalents, marketable securities increased from Jul. 2014 ($187.30 Mil) to Jul. 2015 ($254.00 Mil) and increased from Jul. 2015 ($254.00 Mil) to Jul. 2016 ($373.60 Mil).


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Ascena Retail Group Inc Annual Data

Jul07 Jul08 Jul09 Jul10 Jul11 Jul12 Jul13 Jul14 Jul15 Jul16
Cash, Cash Equivalents, Marketable Securities Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 165.70 189.40 187.30 254.00 373.60

Ascena Retail Group Inc Quarterly Data

Jul12 Oct12 Jan13 Apr13 Jul13 Oct13 Jan14 Apr14 Jul14 Oct14 Jan15 Apr15 Jul15 Oct15 Jan16 Apr16 Jul16 Oct16 Jan17 Apr17
Cash, Cash Equivalents, Marketable Securities Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 247.60 373.60 270.70 299.50 300.10

Calculation

Cash and cash equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash, such as money market holdings, short-term government bonds or Treasury bills, marketable securities and commercial paper.

Marketable Securities are very liquid securities that can be converted into cash quickly at a reasonable price.


Explanation

Marketable securities are very liquid as they tend to have maturities of less than one year. Furthermore, the rate at which these securities can be bought or sold has little effect on their prices.

A high number means either:

1) The company has competitive advantage generating lots of cash

2) Just sold a business or bonds (not necessarily good)

A low stockpile of cash usually means poor to mediocre economics.

There are 3 ways to create large cash reserve.

1) Sell new bonds or equity to public

2) Sell business or asset

3) It has an ongoing business generating more cash than it burns (usually means durable competitive advantage)

When a company is suffering a short term problem, Buffett looks at cash or marketable securities to see whether it has the financial strength to ride it out.

Important: Lots of cash and marketable securities + little debt = good chance that the business will sail on through tough times.

Test to see what is creating cash by looking at past 7 yrs of balance sheets. This will reveal how the cash was created.


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