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Aspen Insurance Holdings (Aspen Insurance Holdings) Net-Net Working Capital : $-45.91 (As of Dec. 2023)


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What is Aspen Insurance 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.

Aspen Insurance Holdings's Net-Net Working Capital for the quarter that ended in Dec. 2023 was $-45.91.

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

AHL's Price-to-Net-Net-Working-Capital is not ranked *
in the Insurance industry.
Industry Median: 5.94
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Aspen Insurance Holdings Net-Net Working Capital Historical Data

The historical data trend for Aspen Insurance 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.

* Premium members only.

Aspen Insurance Holdings Net-Net Working Capital Chart

Aspen Insurance Holdings Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -10.18 -6.02 -16.11 -57.06 -46.01

Aspen Insurance Holdings Quarterly Data
Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Sep22 Dec22 Jun23 Sep23 Dec23
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 - -56.94 -51.26 -117.39 -45.91

Competitive Comparison of Aspen Insurance Holdings's Net-Net Working Capital

For the Insurance - Property & Casualty subindustry, Aspen Insurance 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.


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

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

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



Aspen Insurance Holdings Net-Net Working Capital Calculation

Aspen Insurance Holdings's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2023 is calculated as

Net-Net Working Capital(A: Dec. 2023 )
=(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)
=(1028.1+4233.2+0.75 * 6746.6+0.5 * 0-12316.3
-753.5-0)/59.7432
=-46.01

Aspen Insurance Holdings's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2023 is calculated as

Net-Net Working Capital(Q: Dec. 2023 )
=(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)
=(1028.1+4233.2+0.75 * 6746.6+0.5 * 0-12316.3
-753.5-0)/59.8627
=-45.91

* 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.


Aspen Insurance Holdings  (NYSE:AHL) 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.


Aspen Insurance Holdings Net-Net Working Capital Related Terms

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Aspen Insurance Holdings (Aspen Insurance Holdings) Business Description

Traded in Other Exchanges
Address
141 Front Street, Hamilton, BMU, HM19
Aspen Insurance Holdings Ltd is a Bermudian insurance and reinsurance company. The company operates through subsidiaries that include Aspen Insurance UK, Aspen Underwriting, Aspen Bermuda, Aspen Specialty Insurance, and Aspen American Insurance Corporation. The company also has branches in Australia, Canada, Singapore, and Switzerland. The company's business is divided into two segments: Aspen Insurance and Aspen Reinsurance. Aspen Insurance consists of property and casualty insurance, marine, aviation and energy insurance, and financial and professional lines insurance. Aspen Reinsurance comprises property catastrophe reinsurance, other property reinsurance, casualty reinsurance, and specialty reinsurance.
Executives
Christian Dunleavy officer: CUO of Aspen Re C/O ASPEN INSURANCE HOLDINGS LTD, 141 FRONT STREET, HAMILTON D0 HM19
Silvia Martinez officer: Group General Counsel 30 FENCHURCH STREET, LONDON X0 EC3M 3BD
Jeffrey Bryan Astwood officer: Group Chief Investment Officer 141 FRONT STREET, HAMILTON D0 HM19
Marcus Foley officer: Group Chief Strategy Officer 141 FRONT STREET, HAMILTON D0 HM19
Polycarpos Christakis Frydas officer: Group Chief Actuary C/O ASPEN INSURANCE HOLDINGS LTD, 141 FRONT STREET, HAMILTON D0 HM19
Kane Christopher O director, officer: CEO ASPEN INSURANCE HOLDINGS LIMITED, 141 FRONT STREET, HAMILTON D0 HM19
Timothy Paul Aman officer: Group Chief Risk Officer 141 FRONT STREET, HAMILTON D0 HM19
Glyn Jones director ASPEN INSURANCE HOLDINGS LTD, 141 FRONT STREET, HAMILTON D0 HM19
Kate Vacher officer: CEO, ABL ASPEN INSURANCE HOLDINGS LIMITED, 141 FRONT STREET, HAMILTON D0 HM19
Emil Issavi officer: President and CUO, Aspen Re ASPEN INSURANCE HOLDINGS LIMITED, 141 FRONT STREET, HAMILTON D0 HM19
Gordon Ireland director C/O ASPEN INSURANCE HOLDINGS LIMITED, 141 FRONT STREET, HAMILTON D0 HM19
Scott Kirk officer: Group CFO C/O ARGO GROUP INTERNATIONAL HOLDINGS,, LTD. 90 PITTS BAY ROAD, PEMBROKE D0 HM 08
David Alan Cohen officer: President and CUO Insurance C/O ASPEN INSURANCE HOLDINGS LTD, 141 FRONT STREET, HAMILTON D0 HM19
Gernot Lohr director C/O APOLLO MANAGEMENT, L.P.,, 9 W. 57TH STREET, 43RD FLOOR, NEW YORK NY 10019
Grahame Dawe officer: Chief Accounting Officer C/O ASPEN INSURANCE HOLDINGS LTD, 141 FRONT STREET, HAMILTON D0 HM19

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