GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Virtus AllianzGI Diversified Income & Convertible Fund (NYSE:ACV) » Definitions » Net-Net Working Capital

Virtus AllianzGI Diversifiedomenvertible Fund (Virtus AllianzGI Diversifiedomenvertible Fund) Net-Net Working Capital : $-10.84 (As of Jan. 2023)


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

What is Virtus AllianzGI Diversifiedomenvertible 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.

Virtus AllianzGI Diversifiedomenvertible Fund's Net-Net Working Capital for the quarter that ended in Jan. 2023 was $-10.84.

The industry rank for Virtus AllianzGI Diversifiedomenvertible Fund's Net-Net Working Capital or its related term are showing as below:

ACV's Price-to-Net-Net-Working-Capital is not ranked *
in the Asset Management industry.
Industry Median: 6.67
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Virtus AllianzGI Diversifiedomenvertible Fund Net-Net Working Capital Historical Data

The historical data trend for Virtus AllianzGI Diversifiedomenvertible 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.

Virtus AllianzGI Diversifiedomenvertible Fund Net-Net Working Capital Chart

Virtus AllianzGI Diversifiedomenvertible Fund Annual Data
Trend Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24
Net-Net Working Capital
Get a 7-Day Free Trial -10.90 -11.05 -10.67 -10.84 -9.86

Virtus AllianzGI Diversifiedomenvertible Fund Semi-Annual Data
Jul17 Jan18 Jul18 Jan19 Jul19 Jan20 Jul20 Jan21 Jul21 Jan22 Jul22 Jan23 Jan24
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 -10.99 -10.67 -10.91 -10.84 -9.86

Competitive Comparison of Virtus AllianzGI Diversifiedomenvertible Fund's Net-Net Working Capital

For the Asset Management subindustry, Virtus AllianzGI Diversifiedomenvertible 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.


Virtus AllianzGI Diversifiedomenvertible Fund's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

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

* The bar in red indicates where Virtus AllianzGI Diversifiedomenvertible Fund's Price-to-Net-Net-Working-Capital falls into.



Virtus AllianzGI Diversifiedomenvertible Fund Net-Net Working Capital Calculation

Virtus AllianzGI Diversifiedomenvertible Fund's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jan. 2024 is calculated as

Net-Net Working Capital(A: Jan. 2024 )
=(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)
=(9.71+0+0.75 * 0+0.5 * 0-111.97
-0-0)/10.3672
=-9.86

Virtus AllianzGI Diversifiedomenvertible Fund's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jan. 2023 is calculated as

Net-Net Working Capital(Q: Jan. 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)
=(0.101+0+0.75 * 0+0.5 * 0-112.479
-0-0)/10.363
=-10.84

* 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.


Virtus AllianzGI Diversifiedomenvertible Fund  (NYSE:ACV) 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.


Virtus AllianzGI Diversifiedomenvertible Fund Net-Net Working Capital Related Terms

Thank you for viewing the detailed overview of Virtus AllianzGI Diversifiedomenvertible Fund's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.


Virtus AllianzGI Diversifiedomenvertible Fund (Virtus AllianzGI Diversifiedomenvertible Fund) Business Description

Traded in Other Exchanges
N/A
Address
101 Munson Street, Greenfield, MA, USA, 01301
Virtus AllianzGI Diversified Income & Convertible Fund is a diversified, closed-end management investment company. The fund's investment objective is to provide total return through a combination of current income and capital appreciation while seeking to provide downside protection against capital loss. It seeks to achieve its investment objective by investing in a combination of convertible securities, debt and other income-producing instruments and common stocks and other equity securities.
Executives
Mcdaniel Connie D director C/O VIRTUS INVESTMENT PARTNERS, INC., ONE FINANCIAL PLAZA, 26TH FL., HARTFORD CT 06103
Geraldine M Mcnamara director 150 EAST 44TH ST, APT 35G, NEW YORK NY 10017
Voya Investment Management Co other: Subadviser to the issuer 10 STATE HOUSE SQUARE, SH12, HARTFORD CT 06103-3602
Christine Hurtsellers other: CEO - Subadviser to the issuer 230 PARK AVENUE, NEW YORK NY 10169
Vincent J Costa other: CIO-Subadviser to the issuer 800 SCUDDERS MILL ROAD, PLAINSBORO NJ 08536
Paul Zemsky other: CIO-Subadviser to the issuer 230 PARK AVENUE, NEW YORK NY 10169
Deborah A Decotis director 1633 BROADWAY, NEW YORK NY 10019
David J. Oberto officer: Portfolio Manager 1633 BROADWAY, NEW YORK NY 10019
R Keith Walton director 100 PEARL STREET, HARTFORD CT 06103
Brian T Zino director 100 PARK AVENUE, NEW YORK NY 10017
George R Aylward director, officer: President and CEO C/O VIRTUS INVESTMENT PARTNERS, INC., 100 PEARL STREET, HARTFORD CT 06103
Richard W Smirl officer: EVP C/O VIRTUS INVESTMENT PARTNERS, INC., ONE FINANCIAL PLAZA, HARTFORD CT 06103
Bradley William Patrick Iii officer: EVP, CFO and Treasurer C/O VIRTUS INVESTMENT PARTNERS, INC., 56 PROSPECT STREET, HARTFORD CT 06115
Francis G Waltman officer: EVP C/O VIRTUS INVESTMENT PARTNERS, INC., 100 PEARL STREET, HARTFORD CT 06103
Philip R Mcloughlin director 800 SCUDDERS HILL ROAD, PLAINSBORO NJ 08536