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Calamos L/S Equity & Dynamic Trust (Calamos L/S Equity & Dynamic Trust) Net-Net Working Capital : $-20.01 (As of Oct. 2023)


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What is Calamos L/S Equity & Dynamic Trust 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.

Calamos L/S Equity & Dynamic Trust's Net-Net Working Capital for the quarter that ended in Oct. 2023 was $-20.01.

The industry rank for Calamos L/S Equity & Dynamic Trust's Net-Net Working Capital or its related term are showing as below:

CPZ's Price-to-Net-Net-Working-Capital is not ranked *
in the Asset Management industry.
Industry Median: 6.5
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Calamos L/S Equity & Dynamic Trust Net-Net Working Capital Historical Data

The historical data trend for Calamos L/S Equity & Dynamic Trust'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.

Calamos L/S Equity & Dynamic Trust Net-Net Working Capital Chart

Calamos L/S Equity & Dynamic Trust Annual Data
Trend Oct20 Oct21 Oct22 Oct23
Net-Net Working Capital
-10.15 -17.60 -19.73 -20.01

Calamos L/S Equity & Dynamic Trust Semi-Annual Data
Apr20 Oct20 Apr21 Oct21 Apr22 Oct22 Apr23 Oct23
Net-Net Working Capital Get a 7-Day Free Trial -17.60 -19.08 -19.73 -13.38 -20.01

Competitive Comparison of Calamos L/S Equity & Dynamic Trust's Net-Net Working Capital

For the Asset Management subindustry, Calamos L/S Equity & Dynamic Trust'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.

Calamos L/S Equity & Dynamic Trust's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Calamos L/S Equity & Dynamic Trust's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Calamos L/S Equity & Dynamic Trust's Price-to-Net-Net-Working-Capital falls into.


Calamos L/S Equity & Dynamic Trust Net-Net Working Capital Calculation

Calamos L/S Equity & Dynamic Trust's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Oct. 2023 is calculated as

Net-Net Working Capital(A: Oct. 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+0+0.75 * 0+0.5 * 0-392.782
-0-0)/19.6322
=-20.01

Calamos L/S Equity & Dynamic Trust's Net-Net Working Capital (NNWC) per share for the quarter that ended in Oct. 2023 is calculated as

Net-Net Working Capital(Q: Oct. 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+0+0.75 * 0+0.5 * 0-392.782
-0-0)/19.6322
=-20.01

* 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.

Calamos L/S Equity & Dynamic Trust  (NAS:CPZ) 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.

Calamos L/S Equity & Dynamic Trust Net-Net Working Capital Related Terms

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Calamos L/S Equity & Dynamic Trust (Calamos L/S Equity & Dynamic Trust) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Calamos L/S Equity & Dynamic Inc Trust (NAS:CPZ) » Definitions » Net-Net Working Capital
Comparable Companies
MHN JRI WHF AWP TDF FOF ASG ASA FEN PFL BLK BX OSTO:INVE A TSX:BN KKR APO BK AMP XSWX:PGHN LSE:III
Traded in Other Exchanges
N/A
Address
2020 Calamos Court, Naperville, IL, USA, 60563-2787
Website
https://www.calamos.com
Calamos L/S Equity & Dynamic Inc Trust is a trust company which seeks to provide current income and risk-managed capital appreciation. The company invests in securities across sectors such as Industrials, Healthcare, Financials, Consumer Discretionary and others.
Executives
John S. Koudounis officer: Vice President 2020 CALAMOS COURT, NAPERVILLE IL 60563
Calamos John P Sr director, officer: President and Chairman 2020 CALAMOS COURT, NAPERVILLE IL 60563
Erik D. Ojala officer: VP, Sec'y & Chief Legal Off. 2020 CALAMOS CT., NAPERVILLE IL 60563
Susan L Schoenberger officer: VP and Assistant Secretary 2020 CALAMOS COURT, NAPERVILLE IL 60563
Daniel Dufresne officer: Vice President 2020 CALAMOS COURT, NAPERVILLE IL 60563
Christopher M Toub director 2020 CALAMOS COURT, NAPERVILLE IL 60563
Robert Behan officer: Vice President 2020 CALAMOS COURT, NAPERVILLE IL 60563
Thomas E Herman officer: VP and CFO 2020 CALAMOS COURT, NAPERVILLE IL 60563
Stephen Atkins officer: Treasurer 2020 CALAMOS COURT, NAPERVILLE IL 60563
Karen Stuckey director 2020 CALAMOS COURT, NAPERVILLE IL 60563
Calamos Advisors Llc other: Investment Adviser 2020 CALAMOS COURT, NAPERVILLE IL 60563
Stephen B Timbers director 2020 CALAMOS COURT, NAPERVILLE IL 60563
Mark Mickey officer: Chief Compliance Officer 2020 CALAMOS COURT, NAPERVILLE IL 60563
William R Rybak director 2020 CALAMOS COURT, NAPERVILE IL 60563
John E Neal director 2020 CALAMOS COURT, NAPERVILLE X1 60563