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Midsouth Bancorp (Midsouth Bancorp) Net-Net Working Capital : $-52.62 (As of Jun. 2019)


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What is Midsouth Bancorp 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.

Midsouth Bancorp's Net-Net Working Capital for the quarter that ended in Jun. 2019 was $-52.62.

The industry rank for Midsouth Bancorp's Net-Net Working Capital or its related term are showing as below:

MSL's Price-to-Net-Net-Working-Capital is not ranked *
in the Banks industry.
Industry Median: 7.815
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Midsouth Bancorp Net-Net Working Capital Historical Data

The historical data trend for Midsouth Bancorp'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.

Midsouth Bancorp Net-Net Working Capital Chart

Midsouth Bancorp Annual Data
Trend Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -123.71 -118.56 -118.26 -73.20 -55.36

Midsouth Bancorp Quarterly Data
Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19
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 -64.04 -58.48 -55.36 -53.17 -52.62

Competitive Comparison of Midsouth Bancorp's Net-Net Working Capital

For the Banks - Regional subindustry, Midsouth Bancorp'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.


Midsouth Bancorp's Price-to-Net-Net-Working-Capital Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Midsouth Bancorp's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Midsouth Bancorp's Price-to-Net-Net-Working-Capital falls into.



Midsouth Bancorp Net-Net Working Capital Calculation

Midsouth Bancorp's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2018 is calculated as

Net-Net Working Capital(A: Dec. 2018 )
=(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)
=(202.61+438.52+0.75 * 0+0.5 * 0-1521.408
-40.972-0)/16.641
=-55.36

Midsouth Bancorp's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jun. 2019 is calculated as

Net-Net Working Capital(Q: Jun. 2019 )
=(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)
=(228.077+426.404+0.75 * 0+0.5 * 0-1494.114
-40.972-0)/16.7336
=-52.62

* 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.


Midsouth Bancorp  (NYSE:MSL) 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.


Midsouth Bancorp Net-Net Working Capital Related Terms

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Midsouth Bancorp (Midsouth Bancorp) Business Description

Traded in Other Exchanges
N/A
Address
102 Versailles Boulevard, Lafayette, LA, USA, 70501
Midsouth Bancorp Inc is a financial holding company based in the United States. The company primarily operates through its wholly owned subsidiary and is engaged in the community banking business by providing banking services to commercial and retail customers. It focuses on providing commercial and consumer loan and deposit services to individuals and small to middle market businesses across America. Deposit products and services offered by the firm include interest-bearing and noninterest-bearing checking accounts, investment accounts, cash management services, and electronic banking services, including remote deposit capturing services, internet banking, and debit and credit cards.
Executives
D Michael Kramer director, other: Vice Chairman of the Board P O BOX 868, EVANSVILLE IN 47705-0868
John Arthur Davis officer: Chief Operating Officer 102 VERSAILLES BLVD, LAFAYETTE LA 70501
Keith Avant officer: Chief Credit Officer 102 VERSAILLES BLVD, LAFAYETTE LA 70501
Kade G Peterson officer: SEVP & Chief Operating Officer 102 VERSAILLES BLVD, LAFAYETTE LA 70501
A Dwight Utz officer: Senior VP of subsidiary POST OFFICE BOX 3745, LAFAYETTE LA 70502