GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Land Securities Group PLC (LSE:LAND) » Definitions » Net-Net Working Capital

Land Securities Group (LSE:LAND) Net-Net Working Capital : £-5.12 (As of Sep. 2023)


View and export this data going back to 1955. Start your Free Trial

What is Land Securities Group 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.

Land Securities Group's Net-Net Working Capital for the quarter that ended in Sep. 2023 was £-5.12.

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

LSE:LAND's Price-to-Net-Net-Working-Capital is not ranked *
in the REITs industry.
Industry Median: 10.435
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Land Securities Group Net-Net Working Capital Historical Data

The historical data trend for Land Securities Group'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.

Land Securities Group Net-Net Working Capital Chart

Land Securities Group Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -5.09 -5.33 -4.76 -6.14 -4.98

Land Securities Group Semi-Annual Data
Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23
Net-Net Working Capital Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -4.74 -6.14 -5.09 -4.98 -5.12

Competitive Comparison of Land Securities Group's Net-Net Working Capital

For the REIT - Diversified subindustry, Land Securities Group'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.


Land Securities Group's Price-to-Net-Net-Working-Capital Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Land Securities Group's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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



Land Securities Group Net-Net Working Capital Calculation

Land Securities Group's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Mar. 2023 is calculated as

Net-Net Working Capital(A: Mar. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(42+0.75 * 222+0.5 * 118-3894
-0-67)/741.542
=-4.98

Land Securities Group's Net-Net Working Capital (NNWC) per share for the quarter that ended in Sep. 2023 is calculated as

Net-Net Working Capital(Q: Sep. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(80+0.75 * 382+0.5 * 111-4177
-0-55)/744.839
=-5.12

* 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.


Land Securities Group  (LSE:LAND) 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.


Land Securities Group Net-Net Working Capital Related Terms

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


Land Securities Group (LSE:LAND) Business Description

Traded in Other Exchanges
Address
100 Victoria Street, London, GBR, SW1E 5JL
Land Securities Group PLC is a real estate investment trust engaged in buying, selling, developing, and managing commercial property in the United Kingdom. The company's real estate portfolio is made up of the office, retail, and leisure spaces in the London and Greater London regions. Office locations in London's West End, offices in the City of London, and shopping centers comprise the majority of the value of Land Securities' total assets. The company derives nearly all of its revenue in the form of rental income from medium- to long-term leases with tenants. Land Securities' overall net rental income is fairly evenly split between revenue from its London office properties and its retail properties in Greater London.

Land Securities Group (LSE:LAND) Headlines