Aviva (AVVCL.PFD) Net-Net Working Capital : $0.00 (As of Dec. 2023)

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What is Aviva 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.

Aviva's Net-Net Working Capital for the quarter that ended in Dec. 2023 was $0.00.

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

AVVCL.PFD's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Insurance industry.
Industry Median: 5.51
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Aviva Net-Net Working Capital Historical Data

The historical data trend for Aviva'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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Aviva Net-Net Working Capital Chart

Aviva Annual Data

Trend

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Dec23

Net-Net Working Capital

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Aviva Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Net-Net Working Capital	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Aviva's Net-Net Working Capital

For the Insurance - Diversified subindustry, Aviva'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.

Aviva's Price-to-Net-Net-Working-Capital Distribution in the Insurance Industry

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

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

Aviva Net-Net Working Capital Calculation

Aviva'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 )
=	(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)
=	(21864.557	+	0	+	0.75 * 0	+	0.5 * 0	-	404105.063
-	253.165	-	402.532)	/	0
=	N/A

Aviva'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 )
=	(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)
=	(21864.557	+	0	+	0.75 * 0	+	0.5 * 0	-	404105.063
-	253.165	-	402.532)	/	0
=	N/A

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.

Aviva (NYSE:AVVCL.PFD) 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.

Aviva Net-Net Working Capital Related Terms

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Aviva (AVVCL.PFD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Aviva PLC (NYSE:AVVCL.PFD) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

AIVAF:USA AVVIY:USA AVl:UK AV.B.PFD:UK AV.A.PFD:UK AV.:UK GU81:Germany GU80:Germany GU81:Germany

Address

St Helen's, 1 Undershaft, London, GBR, EC3P 3DQ

Website

https://www.aviva.com

Aviva is a multiline insurer that is listed on the London Stock Exchange. The company traces its roots back to the 17th century with the establishment of Hand-in-Hand. After the Great Fire of London, this mutual was formed to provide protection against fires. Hand-in-Hand was then acquired by Commercial Union in 1905. Over the years, Hand-in-Hand insured London landmarks such as London Bridge, the British Museum, and the Palace in Lambeth. The life insurance part of Aviva began in the early part of the 18th century with the establishment of Amicable, again a mutual society but this time to protect widows and children against the loss of life.