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.
Virtus Dividend, Interest & Premium Strategy Fund's net-net working capital per share for the quarter that ended in Jan. 2022 was $-0.35.
The industry rank for Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital or its related term are showing as below:
Virtus Dividend, Interest & Premium Strategy Fund Net-Net Working Capital Historical Data
The historical data trend for Virtus Dividend, Interest & Premium Strategy Fund'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.
Virtus Dividend, Interest & Premium Strategy Fund Annual Data
Trend
Jan18
Jan19
Jan20
Jan21
Jan22
Net-Net Working Capital
-0.16
-0.14
-0.36
-0.04
-0.35
Virtus Dividend, Interest & Premium Strategy Fund Semi-Annual Data
Jul17
Jan18
Jul18
Jan19
Jul19
Jan20
Jul20
Jan21
Jul21
Jan22
Net-Net Working Capital
-0.36
-0.54
-0.04
-0.03
-0.35
Competitive Comparison
For the Asset Management subindustry, Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital, along with its competitors' market caps and 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.
Virtus Dividend, Interest & Premium Strategy Fund Net-Net Working Capital Distribution
For the Asset Management industry and Financial Services sector, Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital distribution charts can be found below:
* The bar in red indicates where Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital falls into.
Virtus Dividend, Interest & Premium Strategy Fund Net-Net Working Capital Calculation
Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jan. 2022 is calculated as
* 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.
Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) 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.
Virtus Dividend, Interest & Premium Strategy Fund Net-Net Working Capital Related Terms
Thank you for viewing the detailed overview of Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.
Virtus Dividend, Interest & Premium Strategy Fund Business Description
Virtus Dividend, Interest & Premium Strategy Fund is a Massachusetts-based business trust. Its primary investment objective is to seek current income and gains, with a secondary objective of long-term capital appreciation. The fund pursues its investment objectives by investing in a diversified portfolio of dividend-paying common stocks and income-producing convertible securities.
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