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DocuSign Net-Net Working Capital

: $-3.83 (As of Jul. 2020)
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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.

DocuSign's net-net working capital per share for the quarter that ended in Jul. 2020 was $-3.83.

DocuSign Net-Net Working Capital Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

DocuSign Annual Data
Jan16 Jan17 Jan18 Jan19 Jan20
Net-Net Working Capital -3.39 -20.87 -4.00 -0.60 -2.82

DocuSign Quarterly Data
Jan16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20
Net-Net Working Capital 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 -1.94 -2.47 -2.82 -2.59 -3.83
Competitive Comparison
* 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.

DocuSign Net-Net Working Capital Distribution

* The bar in red indicates where DocuSign's Net-Net Working Capital falls into.


DocuSign Net-Net Working Capital Calculation

DocuSign's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jan. 2020 is calculated as

Net-Net Working Capital Per Share(A: Jan. 2020 )
=(Cash And Cash Equivalents +0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(656.142+0.75 * 237.841+0.5 * 0-1344.811
-0-0)/181.254
=-2.82

DocuSign's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jul. 2020 is calculated as

Net-Net Working Capital Per Share(Q: Jul. 2020 )
=(Cash And Cash Equivalents+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(674.039+0.75 * 224.502+0.5 * 0-1551.419
-0-0)/185.137
=-3.83

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's 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.

DocuSign  (NAS:DOCU) 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.

DocuSign Net-Net Working Capital Related Terms

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