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Assurant (NYSE:AIZ) Net-Net Working Capital

: $-263.79 (As of Dec. 2022)
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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.

Assurant's net-net working capital per share for the quarter that ended in Dec. 2022 was $-263.79.

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


Assurant Net-Net Working Capital Historical Data

The historical data trend for Assurant'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.

Assurant Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Net-Net Working Capital
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -242.89 -260.73 -402.27 -231.52 -263.79

Assurant Quarterly Data
Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22
Net-Net Working Capital 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 -231.52 -246.93 -248.68 -263.26 -263.79

Competitive Comparison

For the Insurance - Specialty subindustry, Assurant's Net-Net Working Capital, along with its competitors' market caps and 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.

   

Assurant Net-Net Working Capital Distribution

For the Insurance industry and Financial Services sector, Assurant's Net-Net Working Capital distribution charts can be found below:

* The bar in red indicates where Assurant's Net-Net Working Capital falls in comparison to its industry or sector. The grey bar indicates the Net-Net Working Capital's extreme value range as defined by GuruFocus.



Assurant Net-Net Working Capital Calculation

Assurant's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2022 is calculated as

Net-Net Working Capital Per Share(A: Dec. 2022 )
=(Cash And Cash Equivalents**+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(7975.9+0.75 * 9310.8+0.5 * 0-28895.1
-0-0)/52.8304
=-263.79

Assurant's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2022 is calculated as

Net-Net Working Capital Per Share(Q: Dec. 2022 )
=(Cash And Cash Equivalents**+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(7975.9+0.75 * 9310.8+0.5 * 0-28895.1
-0-0)/52.8304
=-263.79

* 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.

** Note that the Cash And Cash Equivalents here include cash, cash equivalents and short-term investments.

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.


Assurant  (NYSE:AIZ) 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. GuruFocus also publishes a monthly Net-Net newsletter.


Assurant Net-Net Working Capital Related Terms

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


Assurant (NYSE:AIZ) Business Description

Assurant logo
Traded in Other Exchanges
Address
55 Broadway, Suite 2901, New York, NY, USA, 10006
Assurant Inc offers a range of property-casualty, health, employee benefit, and warranty insurance to a client base made up of individuals and institutions. Its segments are Global Housing, Global Lifestyle, Corporate and Other. Global Housing segment, the key revenue-generating segment, provides lender-placed homeowners insurance, lender-placed manufactured housing insurance and lender-placed flood insurance; renters insurance and related products; and voluntary manufactured housing insurance, voluntary homeowners insurance and other specialty products. Global Lifestyle provides mobile device solutions and extended service products and related services for mobile devices, consumer electronics and appliances; vehicle protection; and credit protection and other insurance products.
Executives
Sari Beth Granat director C/O MARKIT LTD, 4TH FL, ROPEMAKER PLACE, 25 ROPEMAKER STREET, LONDON X0 EC2Y 9LY
Keith Meier officer: EVP, COO C/O ASSURANT, INC., 55 BROADWAY, SUITE 2901, NEW YORK NY 10006
Dimitry Dirienzo officer: SVP, CAO, Controller C/O ASSURANT, INC., 28 LIBERTY ST. 41 F., NEW YORK NY 10005
Jay Rosenblum officer: EVP and CLO C/O ASSURANT, INC., 28 LIBERTY ST, 41ST FL., NEW YORK NY 10005
Francesca Luthi officer: EVP, CAO 1180 NORTH TOWN CENTER DRIVE, SUITE 100, LAS VEGAS NV 89144
Carter J Braxton Ii director C/O T-MOBILE US, INC., 12920 SE 38TH STREET, BELLEVUE WA 98006
Paget Leonard Alves director SPRINT NEXTEL, 6200 SPRINT PARKWAY KSOPHF0410 - 4A403, OVERLAND PARK KS 66251
Ognjen Redzic director C/O ASSURANT, INC., 28 LIBERTY STREET, 41ST FL., NEW YORK NY 10005
Tammy L. Schultz officer: EVP C/O ASSURANT, INC.,28 LIBERTY STREET, 41ST FLOOR, NEW YORK NY 10005
Robert Lonergan officer: EVP, other: Chief Strategy Officer C/O ASSURANT, INC.,28 LIBERTY STREET, 41ST FLOOR, NEW YORK NY 10005
Michael P. Campbell officer: EVP C/O ASSURANT, INC.,28 LIBERTY STREET, 41ST FLOOR, NEW YORK NY 10005
Keith Demmings officer: EVP C/O ASSURANT, INC.,28 LIBERTY STREET, NEW YORK NY 10005
Peter Mcgoohan director 301 COMMERCE STREET,SUITE 3300, FORT WORTH TX 76102
Eric W Leathers director 54 THOMPSON ST, NEW YORK NY 10012
Tpg Advisors Vi-aiv, Inc. 10 percent owner 301 COMMERCE STREET, FORT WORTH TX 76102

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