National General Holdings (National General Holdings) Net-Net Working Capital : $0.00 (As of Dec. 2020)

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What is National General Holdings 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.

National General Holdings's Net-Net Working Capital for the quarter that ended in Dec. 2020 was $0.00.

The industry rank for National General Holdings's Net-Net Working Capital or its related term are showing as below:

NGHCO.PFD's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Insurance industry.
Industry Median: 5.51
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

National General Holdings Net-Net Working Capital Historical Data

The historical data trend for National General Holdings'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.

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National General Holdings Net-Net Working Capital Chart

National General Holdings Annual Data

Trend

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Net-Net Working Capital

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National General Holdings Quarterly Data
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Net-Net Working Capital	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of National General Holdings's Net-Net Working Capital

For the Insurance - Property & Casualty subindustry, National General Holdings'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.

National General Holdings's Price-to-Net-Net-Working-Capital Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, National General Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where National General Holdings's Price-to-Net-Net-Working-Capital falls into.

National General Holdings Net-Net Working Capital Calculation

National General Holdings's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2020 is calculated as

	Net-Net Working Capital		(A: Dec. 2020 )
=	(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)
=	(662.772	+	4688.216	+	0.75 * 2764.31	+	0.5 * 0	-	6911.896
-	450	-	-21.165)	/	0
=	N/A

National General Holdings's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2020 is calculated as

	Net-Net Working Capital		(Q: Dec. 2020 )
=	(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)
=	(662.772	+	4688.216	+	0.75 * 2764.31	+	0.5 * 0	-	6911.896
-	450	-	-21.165)	/	0
=	N/A

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.

National General Holdings (NAS:NGHCO.PFD) 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.

National General Holdings Net-Net Working Capital Related Terms

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National General Holdings (National General Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » National General Holdings Corp (NAS:NGHCO.PFD) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

N/A

Address

59 Maiden Lane, 38th Floor, New York, NY, USA, 10038

Website

http://www.nationalgeneral.com

National General Holdings Corp is a specialty personal lines insurance holding company. It provides a variety of insurance products, including personal and commercial automobile, homeowners, umbrella, recreational vehicle, motorcycle, lender-placed, supplemental health and other niche insurance products. The company sells insurance products with a focus on underwriting profitability through a combination of its customized and predictive analytics and its technology is driven low-cost infrastructure. The company manages its business through two segments, the Property and Casualty segment and Accident and Health segment.

Executives

John Drake Nichols	director	C/O HIPPO HOLDINGS INC., 150 FOREST AVENUE, PALO ALTO CA 94301
Lawrence J. Moloney	officer: Chief Accounting Officer	C/O NGHC, 59 MAIDEN LANE, 38TH FLOOR, NEW YORK NY 10038
John Marshaleck	director	48 PAR LA VILLE ROAD, SUITE 1141, HAMILTON D0 HM11
Ephraim Brecher	director	C/O NGHC, 59 MAIDEN LANE, 38TH FLOOR, NEW YORK NY 10038
Peter A. Rendall	officer: COO and Treasurer	C/O NGHC, 59 MAIDEN LANE, 38TH FLOOR, NEW YORK NY 10038
Michael Hal Weiner	officer: Chief Financial Officer	C/O NGHC, 59 MAIDEN LANE, 38TH FLOOR, NEW YORK NY 10038
Howard Zuckerman	director	6 SANDS POINT RD, MONSEY NY 10952
Byron Storms	officer: President - P&C	C/O NGHC, 59 MAIDEN LANE, 38TH FLOOR, NEW YORK NY 10038
Michael Francis Murphy	officer: Executive Vice President	C/O NGHC, 59 MAIDEN LANE, 38TH FLOOR, NEW YORK NY 10038
Leah Karfunkel	10 percent owner	C/O AMTRUST FINANCIAL SERVICES, INC., 59 MAIDEN LANE, 6TH FLOOR, NEW YORK NY 10038
Donald Bolar	officer: Chief Accounting Officer	C/O NGHC, 59 MAIDEN LANE, 38TH FLOOR, NEW YORK NY 10038
Amtrust International Insurance Ltd	10 percent owner	SUITE 102 WASHINGTON MALL, 7 REID STREET, HAMILTON D0 HM11
Thomas Newgarden	officer: Executive Vice President	C/O NGHC, 59 MAIDEN LANE, 38TH FLOOR, NEW YORK NY 10038
Jeffrey Weissmann	officer: General Counsel & Secretary	C/O NGHC, 59 MAIDEN LANE, 38TH FLOOR, NEW YORK NY 10038
Robert Karfunkel	officer: Executive Vice President	C/O NGHC, 59 MAIDEN LANE, 38TH FLOOR, NEW YORK NY 10038