Esterline Technologies (Esterline Technologies) Net-Net Working Capital : $-8.94 (As of Dec. 2018)

View and export this data going back to 1970. Start your Free Trial

What is Esterline Technologies 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.

Esterline Technologies's Net-Net Working Capital for the quarter that ended in Dec. 2018 was $-8.94.

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

ESL's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Aerospace & Defense industry.
Industry Median: 8.59
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Esterline Technologies Net-Net Working Capital Historical Data

The historical data trend for Esterline Technologies'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.

Esterline Technologies Net-Net Working Capital Chart

Esterline Technologies Annual Data

Trend

Oct09

Oct10

Oct11

Oct12

Oct13

Oct14

Sep15

Sep16

Sep17

Sep18

Net-Net Working Capital

Get a 7-Day Free Trial

-17.76

-26.04

-21.61

-14.19

-9.26

Esterline Technologies Quarterly Data
	Jan14	Apr14	Jul14	Oct14	Jan15	Apr15	Jul15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18
Net-Net Working Capital	Get a 7-Day Free Trial															-15.15	-14.60	-12.83	-9.26	-8.94

Competitive Comparison of Esterline Technologies's Net-Net Working Capital

For the Aerospace & Defense subindustry, Esterline Technologies'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.

Esterline Technologies's Price-to-Net-Net-Working-Capital Distribution in the Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Esterline Technologies's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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

Esterline Technologies Net-Net Working Capital Calculation

Esterline Technologies's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Sep. 2018 is calculated as

	Net-Net Working Capital		(A: Sep. 2018 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(372.406	+	0.75 * 441.696	+	0.5 * 457.226	-	1193.79
-	0	-	11.284)	/	29.4531
=	-9.26

Esterline Technologies's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2018 is calculated as

	Net-Net Working Capital		(Q: Dec. 2018 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(391.182	+	0.75 * 384.617	+	0.5 * 452.19	-	1159.875
-	0	-	11.134)	/	29.6844
=	-8.94

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.

Esterline Technologies (NYSE:ESL) 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.

Esterline Technologies Net-Net Working Capital Related Terms

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

Esterline Technologies (Esterline Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Aerospace & Defense » Esterline Technologies Corp (NYSE:ESL) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

N/A

Address

500, 108th Avenue North East, Suite 1500, Bellevue, WA, USA, 98004

Website

http://www.esterline.com

Esterline Technologies Corp is a specialized manufacturing company serving aerospace and defense markets. It designs, produces, and markets engineered products and systems. The company operates in three technology segments: Avionics & Controls, Sensors & Systems, and Advanced Materials. Its products have been implemented into military and commercial aircraft and land-based platforms. Additional sales result from aftermarket repairs and spare parts for existing systems. Esterline has worldwide sales and distribution channels and will try to strengthen customer relationships by targeting specific segments. Approximately half of its revenue is derived from the United States. The remainder of sales come from Canada, France, United Kingdom, and other smaller regions.

Executives

Stephen M Nolan	officer: Executive VP, CFO	1300 WILSON BOULEVARD, SUITE 400, ARLINGTON VA 22209
Donald E. Walther	officer: Executive VP, General Counsel	500 108TH AVENUE NE, SUITE 1500, BELLEVUE WA 98004
Mary L Howell	director	1101 PENNSYLVANIA AVE STE 400, WASHINGTON DC 20004
Curtis C Reusser	director, officer: Chairman, President & CEO	C/O GOODRICH CORPORATION, 850 LAGOON DRIVE, CHULA VISTA CA 91910
Scott Ernest Kuechle	director	C/O GOODRICH CORPORATION, 2730 WEST TYVOLA ROAD, CHARLOTTE NC 28217
Michael J Covey	director	C/O POTLATCH CORPORATION, 601 W FIRST AVENUE, SUITE 1600, SPOKANE WA 99201
Michael J Cave	director	C/O ESTERLINE TECHNOLOGIES CORP, 500 108TH AVE NE, SUITE 1500, BELLEVUE WA 98004
Steven T Romick	10 percent owner	11400 W OLYMPIC BLVD, STE 1200, LOS ANGELES CA 90064
Mark Landecker	10 percent owner	11400 W. OLYMPIC BLVD., STE. 1200, LOS ANGELES CA 90064
J Richard Atwood	10 percent owner
Brian A. Selmo	10 percent owner	11400 W. OLYMPIC BLVD., STE. 1200, LOS ANGELES CA 90064
Gary E Pruitt	director	701 WESTERN AVENUE, GLENDALE CA 91201
Winship Henry Ward Iv	director	PO BOX 8614, RANCHO SANTA FE CA 92067
Jerry D Leitman	director
Richard Bradley Lawrence	director, officer: Executive Chairman	500 108TH AVENUE NE, SUITE 1500, BELLEVUE WA 98004