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.
Academy Sports and Outdoors's net-net working capital per share for the quarter that ended in Jan. 2023 was $-25.76.
The industry rank for Academy Sports and Outdoors's Net-Net Working Capital or its related term are showing as below:
Academy Sports and Outdoors Net-Net Working Capital Historical Data
The historical data trend for Academy Sports and Outdoors'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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Academy Sports and Outdoors Annual Data
Trend
Jan18
Jan19
Jan20
Jan21
Jan22
Jan23
Net-Net Working Capital
-21.99
-33.52
-26.20
-23.33
-25.76
Academy Sports and Outdoors Quarterly Data
Jan18
Jan19
Jul19
Oct19
Jan20
Apr20
Jul20
Oct20
Jan21
Apr21
Jul21
Oct21
Jan22
Apr22
Jul22
Oct22
Jan23
Net-Net Working Capital
-23.33
-24.06
-25.96
-27.52
-25.76
Competitive Comparison
For the Specialty Retail subindustry, Academy Sports and Outdoors'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.
Academy Sports and Outdoors Net-Net Working Capital Distribution
For the Retail - Cyclical industry and Consumer Cyclical sector, Academy Sports and Outdoors's Net-Net Working Capital distribution charts can be found below:
* The bar in red indicates where Academy Sports and Outdoors'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.
Academy Sports and Outdoors Net-Net Working Capital Calculation
Academy Sports and Outdoors's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jan. 2023 is calculated as
* 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.
Academy Sports and Outdoors (NAS:ASO) 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.
Academy Sports and Outdoors Net-Net Working Capital Related Terms
Thank you for viewing the detailed overview of Academy Sports and Outdoors's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.
Academy Sports and Outdoors (NAS:ASO) Business Description
Academy Sports and Outdoors Inc is engaged in the retail business of sporting goods and outdoor recreation products. The company offers outdoor clothing, backpacks, sunglasses, luggage items, shooting equipment, fishing equipment, boating and water sports equipment, backyard recreation products, outdoor cooking equipment, fitness equipment, electronic items, dog supplies, and other products.
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