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.
Public Service Enterprise Group's net-net working capital per share for the quarter that ended in Mar. 2022 was $-62.39.
The industry rank for Public Service Enterprise Group's Net-Net Working Capital or its related term are showing as below:
Public Service Enterprise Group Net-Net Working Capital Historical Data
The historical data trend for Public Service Enterprise Group'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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Public Service Enterprise Group Annual Data
Trend
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Net-Net Working Capital
-53.69
-58.03
-61.63
-63.54
-63.45
Public Service Enterprise Group Quarterly Data
Jun17
Sep17
Dec17
Mar18
Jun18
Sep18
Dec18
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Net-Net Working Capital
-62.80
-63.18
-63.70
-63.45
-62.39
Competitive Comparison
For the Utilities - Diversified subindustry, Public Service Enterprise Group'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.
Public Service Enterprise Group Net-Net Working Capital Distribution
For the Utilities - Regulated industry and Utilities sector, Public Service Enterprise Group's Net-Net Working Capital distribution charts can be found below:
* The bar in red indicates where Public Service Enterprise Group's Net-Net Working Capital falls into.
Public Service Enterprise Group Net-Net Working Capital Calculation
Public Service Enterprise Group's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2021 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.
Public Service Enterprise Group (NYSE:PEG) 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.
Public Service Enterprise Group Net-Net Working Capital Related Terms
Thank you for viewing the detailed overview of Public Service Enterprise Group's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.
Public Service Enterprise Group Business Description
Public Service Enterprise Group is the holding company for a regulated utility (PSE&G) and other nonregulated businesses such as nuclear power generation and clean energy infrastructure. PSE&G provides regulated gas and electricity delivery services in New Jersey to a combined 4 million customers. PSEG also operates the Long Island Power Authority system. In 2022, PSEG sold its gas and oil power plants in the Mid-Atlantic, New York, and the Northeast.
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