Kayne Anderson Energy Development Co (Kayne Anderson Energy Development Co) Net-Net Working Capital : $-9.72 (As of May. 2018)

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What is Kayne Anderson Energy Development Co 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.

Kayne Anderson Energy Development Co's Net-Net Working Capital for the quarter that ended in May. 2018 was $-9.72.

The industry rank for Kayne Anderson Energy Development Co's Net-Net Working Capital or its related term are showing as below:

KED's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Asset Management industry.
Industry Median: 6.3
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Kayne Anderson Energy Development Co Net-Net Working Capital Historical Data

The historical data trend for Kayne Anderson Energy Development Co'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.

Kayne Anderson Energy Development Co Net-Net Working Capital Chart

Kayne Anderson Energy Development Co Annual Data

Trend

Nov08

Nov09

Nov10

Nov11

Nov12

Nov13

Nov14

Nov15

Nov16

Nov17

Net-Net Working Capital

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-15.36

-19.10

-10.29

-13.13

-10.48

Kayne Anderson Energy Development Co Semi-Annual Data
	May08	Nov08	May09	Nov09	May10	Nov10	Nov11	May12	Nov12	May13	Nov13	May14	Nov14	May15	Nov15	May16	Nov16	May17	Nov17	May18
Net-Net Working Capital	Get a 7-Day Free Trial															-11.80	-13.13	-12.98	-10.48	-9.72

Competitive Comparison of Kayne Anderson Energy Development Co's Net-Net Working Capital

For the Asset Management subindustry, Kayne Anderson Energy Development Co'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.

Kayne Anderson Energy Development Co's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Kayne Anderson Energy Development Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Kayne Anderson Energy Development Co's Price-to-Net-Net-Working-Capital falls into.

Kayne Anderson Energy Development Co Net-Net Working Capital Calculation

Kayne Anderson Energy Development Co's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Nov. 2017 is calculated as

	Net-Net Working Capital		(A: Nov. 2017 )
=	(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)
=	(2	+	0	+	0.75 * 0	+	0.5 * 0	-	114.993
-	0	-	0)	/	10.78
=	-10.48

Kayne Anderson Energy Development Co's Net-Net Working Capital (NNWC) per share for the quarter that ended in May. 2018 is calculated as

	Net-Net Working Capital		(Q: May. 2018 )
=	(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)
=	(2	+	0	+	0.75 * 0	+	0.5 * 0	-	106.839
-	0	-	0)	/	10.79
=	-9.72

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.

Kayne Anderson Energy Development Co (NYSE:KED) 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.

Kayne Anderson Energy Development Co Net-Net Working Capital Related Terms

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Kayne Anderson Energy Development Co (Kayne Anderson Energy Development Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Kayne Anderson Energy Development Co (NYSE:KED) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.kaynefunds.com

Kayne Anderson Energy Development Co is a non-diversified, closed-end fund. Its objective is to generate current income and capital appreciation through equity and debt investments. The fund seeks to achieve this objective by investing at least 80% of its total assets in securities of Energy companies. A key focus area for the company's investments is equity and debt investments in private and public entities structured as Ltd partnerships. In addition, it also owns equity and debt investments in Upstream, Midstream and Other Energy companies. Geographically all the operation is functioned through the region of US.

Executives

Richard A Kayne	10 percent owner, other: CEO of Member/Manager of IA
William R Cordes	director	17237 HOWARD PLAZA, OMAHA NE 68118
Alan Boswell	officer: VICE PRESIDENT	811 MAIN STREET, 14TH FLOOR, HOUSTON TX 77002
Terry A Hart	officer: Treasurer and CFO	1000 LOUISIANA STREET SUITE 5800, HOUSTON TX 77002
Prudential Insurance Co Of America	10 percent owner	751 BROAD STREET, NEWARK NJ 07102
Prudential Financial Inc	10 percent owner	751 BROAD ST, NEWARK NJ 07102
James C Baker	officer: Vice President	C/O KAYNE ANDERSON CAPITAL ADVISORS, L.P, 1800 AVENUE OF THE STARS, THIRD FLOOR, LOS ANGELES CA 90067
Jody Meraz	officer: Vice President	717 TEXAS AVENUE, SUITE 3100, HOUSTON TX 77002
Ka Holdings Inc	10 percent owner, other: Affiliate / Investment Adviser	1800 AVENUE OF THE STARS, 2ND FLOOR, LOS ANGELES CA 90067
Kevin S Mccarthy	director, officer: President, CEO, Chairman	C/O KAYNE ANDERSON CAPITAL ADVISORS, LP, 1800 AVENUE OF THE STARS, SECOND FLOOR, LOS ANGELES CA 90067
John Daley	other: Investment Adviser CFO	C/O KAYNE ANDERSON CAPITAL ADVISORS, LP, 1800 AVENUE OF THE STARS, SECOND FLOOR, LOS ANGELES CA 90067
John Anderson	10 percent owner, other: Affiliate / Investment Adviser	C/O KAYNE ANDERSON CAPITAL ADVISORS, LP, 1800 AVENUE OF THE STARS, SECOND FLOOR, LOS ANGELES CA 90067
Robert Sinnott	director	C/O KAYNE ANDERSON CAPITAL ADVISORS, LP, 1800 AVENUE OF THE STARS, SECOND FLOOR, LOS ANGELES CA 90067
William L Thacker	director	94 WEDGEWOOD DR. W., MONTGOMERY TX 77366
Barry R Pearl	director	P.O. BOX 2521, HOUSTON TX 77252-2521