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Twenty-First Century Fox (Twenty-First Century Fox) Net-Net Working Capital : $-2.46 (As of Dec. 2018)


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What is Twenty-First Century Fox 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.

Twenty-First Century Fox's Net-Net Working Capital for the quarter that ended in Dec. 2018 was $-2.46.

The industry rank for Twenty-First Century Fox's Net-Net Working Capital or its related term are showing as below:

TFCF's Price-to-Net-Net-Working-Capital is not ranked *
in the Media - Diversified industry.
Industry Median: 5.15
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Twenty-First Century Fox Net-Net Working Capital Historical Data

The historical data trend for Twenty-First Century 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.

* Premium members only.

Twenty-First Century Fox Net-Net Working Capital Chart

Twenty-First Century Fox Annual Data
Trend Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -11.58 -9.12 -12.80 -12.12 -10.51

Twenty-First Century Fox Quarterly Data
Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18
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 -11.57 -11.14 -10.51 -10.42 -2.46

Competitive Comparison of Twenty-First Century Fox's Net-Net Working Capital

For the Broadcasting subindustry, Twenty-First Century Fox'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.


Twenty-First Century Fox's Price-to-Net-Net-Working-Capital Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Twenty-First Century Fox's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Twenty-First Century Fox's Price-to-Net-Net-Working-Capital falls into.



Twenty-First Century Fox Net-Net Working Capital Calculation

Twenty-First Century Fox's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jun. 2018 is calculated as

Net-Net Working Capital(A: Jun. 2018 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(7622+0.75 * 7120+0.5 * 3669-33033
-0-1234)/1852.55
=-10.51

Twenty-First Century Fox'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)
=(21281+0.75 * 8083+0.5 * 3934-32651
-0-1230)/1856.93
=-2.46

* 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.


Twenty-First Century Fox  (NAS:TFCF) 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.


Twenty-First Century Fox Net-Net Working Capital Related Terms

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Twenty-First Century Fox (Twenty-First Century Fox) Business Description

Traded in Other Exchanges
N/A
Address
1211 Avenue of the Americas, New York, NY, USA, 10036
21st Century Fox is a media conglomerate with a wide range of assets: a film studio, which creates television programs and movies; broadcast television, including the Fox broadcast network and local TV stations in the U.S.; cable networks, which comprise over 300 channels around the world; and direct-broadcast satellite TV in the form of Sky, a satellite pay-tv provider in Europe.
Executives
Chase Carey director C/O NEWS AMERICA INCORPORATED, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
David F Devoe director C/O NEWS AMERICA INCORPORATED, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Murdoch Family Trust 10 percent owner C/O MCDONALD CARANO WILSON LLP, 100 LIBERTY STREET, RENO NV 89501
Cruden Financial Services Llc 10 percent owner C/O MCDONALD CARANO WILSON LLP, 100 LIBERTY STREET, RENO NV 89501
John Nallen officer: Senior EVP, CFO C/O NEWS AMERICA INCORPORATED, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
James R Murdoch director, officer: Chief Executive Officer C/O LUPA SYSTEMS, 363 LAFAYETTE STREET, NEW YORK NY 10022
Keith Rupert Murdoch director, officer: Executive Chairman C/O FOX CORPORATION, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Gerson Zweifach officer: See Remarks C/O NEWS AMERICA INCORPORATED, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Jacques A Nasser director
Lachlan K Murdoch director, officer: Executive Chairman C/O NEWS AMERICA INCORPORATED, 1211 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Robert S Silberman director C/O STRAYER EDUCATION INC, 2303 DULLES STATION BOULEVARD, HERNDON VA 20171
James Breyer director ACCEL PARTNERS, 428 UNIVERSITY AVE, PALO ALTO CA 94301
Viet D Dinh director GEORGETOWN UNIVERSITY LAW CENTER, 600 NEW JERSEY AVENUE NW, WASHINGTON DC 20001
Jeffrey W Ubben director, other: See Remarks 1170 GORGAS AVENUE, SAN FRANCISCO CA 94129
Valueact Capital Master Fund, L.p. director, other: See Remarks ONE LETTERMAN DRIVE, BUILDING D, 4TH FLOOR, SAN FRANCISCO CA 94129