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Invesco Dynamic Credit Opportunities Fund (Invesco Dynamic Credit Opportunities Fund) Net-Net Working Capital : $-7.48 (As of Aug. 2021)


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What is Invesco Dynamic Credit Opportunities Fund 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.

Invesco Dynamic Credit Opportunities Fund's Net-Net Working Capital for the quarter that ended in Aug. 2021 was $-7.48.

The industry rank for Invesco Dynamic Credit Opportunities Fund's Net-Net Working Capital or its related term are showing as below:

VTA's Price-to-Net-Net-Working-Capital is not ranked *
in the Asset Management industry.
Industry Median: 6.3
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Invesco Dynamic Credit Opportunities Fund Net-Net Working Capital Historical Data

The historical data trend for Invesco Dynamic Credit Opportunities 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.

Invesco Dynamic Credit Opportunities Fund Net-Net Working Capital Chart

Invesco Dynamic Credit Opportunities Fund Annual Data
Trend Feb18 Feb19 Feb20 Feb21
Net-Net Working Capital
-9.31 -7.76 -9.05 -8.63

Invesco Dynamic Credit Opportunities Fund Semi-Annual Data
Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21
Net-Net Working Capital Get a 7-Day Free Trial Premium Member Only -8.38 -9.05 -7.13 -8.63 -7.48

Competitive Comparison of Invesco Dynamic Credit Opportunities Fund's Net-Net Working Capital

For the Asset Management subindustry, Invesco Dynamic Credit Opportunities Fund'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.

Invesco Dynamic Credit Opportunities Fund's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Invesco Dynamic Credit Opportunities Fund's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Invesco Dynamic Credit Opportunities Fund's Price-to-Net-Net-Working-Capital falls into.


Invesco Dynamic Credit Opportunities Fund Net-Net Working Capital Calculation

Invesco Dynamic Credit Opportunities Fund's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Feb. 2021 is calculated as

Net-Net Working Capital(A: Feb. 2021 )
=(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)
=(15.986+0+0.75 * 0+0.5 * 0-559.24
-0-0)/62.9801
=-8.63

Invesco Dynamic Credit Opportunities Fund's Net-Net Working Capital (NNWC) per share for the quarter that ended in Aug. 2021 is calculated as

Net-Net Working Capital(Q: Aug. 2021 )
=(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)
=(36.96+0+0.75 * 0+0.5 * 0-508.088
-0-0)/62.9801
=-7.48

* 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.

Invesco Dynamic Credit Opportunities Fund  (NYSE:VTA) 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.

Invesco Dynamic Credit Opportunities Fund Net-Net Working Capital Related Terms

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Invesco Dynamic Credit Opportunities Fund (Invesco Dynamic Credit Opportunities Fund) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Invesco Dynamic Credit Opportunities Fund (NYSE:VTA) » Definitions » Net-Net Working Capital
Comparable Companies
LSE:HGT LSE:VOF GBL LSE:TPOU TSE:8595 LSE:HSL LSE:P2P TSX:EIT.UN LSE:NESF SLRC LSE:JESC LSE:PEY LSE:BBGI LSE:FSV LSE:SOI TCPC LSE:SCIN TSX:FSZ ASX:AUI ASX:BKI
Traded in Other Exchanges
N/A
Address
1555 Peachtree Street North-East, Suite 1800, Atlanta, GA, USA, 30309
Website
https://www.invesco.com
Invesco Dynamic Credit Opportunities Fund is an investment fund. The fund's investment objective is to seek a high level of current income, with a secondary objective of capital appreciation. The fund seeks to achieve its objectives by investing in a portfolio of interests in floating or variable senior loans to corporations, partnerships, and other entities which operate in a variety of industries and geographic regions.
Executives
Antonio Reina officer: Secretary 1555 PEACHTREE STREET NE SUITE 1800, ATLANTA GA 30309
Saba Capital Management, L.p. 10 percent owner 405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Josh E Levit officer: Chief Compliance Officer 1555 PEACHTREE STREET NE SUITE 1800, ATLANTA GA 30309
Adrien Deberghes officer: Vice President,PFO & Treasurer 1555 PEACHTREE STREET NE SUITE 1800, ATLANTA GA 30309
Haley S Waldron officer: Chief Accounting Officer 1555 PEACHTREE STREET NE SUITE 1800, ATLANTA GA 30309
Laura Allison Dukes officer: SMD and CFO 780 JOHNSON FERRY ROAD, SUITE 800, ATLANTA GA 30342
Tara Mcaleer officer: Chief Compliance Officer 1555 PEACHTREE STREET NE, ATLANTA GA 30309
Annette Lege director, officer: CFO & CAO 1555 PEACHTREE ST. NE, SUITE 1800, ATLANTA GA 30309
Kevin M Carome director
Loren M Starr director
Stephen William Swanson officer: Secretary and General Counsel 1555 PEACHTREE STREET NE, ATLANTA GA 30309
Robert Phillip Drobny officer: Vice President 1555 PEACHTREE STREET NE, ATLANTA GA 30309
Mark William Gregson officer: Controller & Treasurer 1555 PEACHTREE STREET NE, ATLANTA GA 30309
Todd F Kuehl officer: Chief Compliance officer 1555 PEACHTREE STREET NE, ATLANTA GA 30309
Boaz Weinstein 10 percent owner 405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174