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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.
Fox's net-net working capital per share for the quarter that ended in Sep. 2022 was $-6.87.
The industry rank for Fox's Net-Net Working Capital or its related term are showing as below:
The historical data trend for Fox'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.
For the Entertainment subindustry, Fox'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.
For the Media - Diversified industry and Communication Services sector, Fox's Net-Net Working Capital distribution charts can be found below:
* The bar in red indicates where Fox'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.
Fox's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jun. 2022 is calculated as
Net-Net Working Capital Per Share | (A: Jun. 2022 ) | ||||||
= | (Cash And Cash Equivalents** | + | 0.75 * Accounts Receivable | + | 0.5 * Total Inventories | - | Total Liabilities |
- | Preferred Stock | - | Minority Interest) | / | Shares Outstanding (EOP) | ||
= | (5200 | + | 0.75 * 2128 | + | 0.5 * 791 | - | 10810 |
- | 0 | - | 36) | / | 550.619 | ||
= | -6.64 |
Fox's Net-Net Working Capital (NNWC) per share for the quarter that ended in Sep. 2022 is calculated as
Net-Net Working Capital Per Share | (Q: Sep. 2022 ) | ||||||
= | (Cash And Cash Equivalents** | + | 0.75 * Accounts Receivable | + | 0.5 * Total Inventories | - | Total Liabilities |
- | Preferred Stock | - | Minority Interest) | / | Shares Outstanding (EOP) | ||
= | (4950 | + | 0.75 * 2268 | + | 0.5 * 1020 | - | 10839 |
- | 0 | - | 64) | / | 544.37 | ||
= | -6.87 |
* 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.
Fox (NAS:FOX) 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.
Thank you for viewing the detailed overview of Fox's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.
Roland A Hernandez | director | 300 NORTH SAN RAFAEL AVE, PASADENA CA 91105 |
Lachlan K Murdoch | director, officer: Executive Chairman, CEO | C/O NEWS AMERICA INCORPORATED, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036 |
Keith Rupert Murdoch | director, officer: Chairman | C/O FOX CORPORATION, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036 |
John Nallen | officer: Chief Operating Officer | C/O NEWS AMERICA INCORPORATED, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036 |
Jacques A Nasser | director | |
Chase Carey | director | C/O NEWS AMERICA INCORPORATED, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036 |
Viet D Dinh | officer: Chief Legal and Policy Officer | GEORGETOWN UNIVERSITY LAW CENTER, 600 NEW JERSEY AVENUE NW, WASHINGTON DC 20001 |
Steven Tomsic | officer: Chief Financial Officer | 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036 |
Paul D Ryan | director | 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036 |
Anne Dias | director | 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036 |
Cruden Financial Services Llc | 10 percent owner | C/O MCDONALD CARANO WILSON LLP, 100 LIBERTY STREET, RENO NV 89501 |
Murdoch Family Trust | 10 percent owner | C/O MCDONALD CARANO WILSON LLP, 100 LIBERTY STREET, RENO NV 89501 |
Twenty-first Century Fox, Inc. | 10 percent owner | 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036 |
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