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Credito Valtellinese SpA (STU:VA92) Net-Net Working Capital : €-271.63 (As of Dec. 2021)


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What is Credito Valtellinese SpA 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.

Credito Valtellinese SpA's Net-Net Working Capital for the quarter that ended in Dec. 2021 was €-271.63.

The industry rank for Credito Valtellinese SpA's Net-Net Working Capital or its related term are showing as below:

STU:VA92's Price-to-Net-Net-Working-Capital is not ranked *
in the Banks industry.
Industry Median: 7.35
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Credito Valtellinese SpA Net-Net Working Capital Historical Data

The historical data trend for Credito Valtellinese SpA'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.

Credito Valtellinese SpA Net-Net Working Capital Chart

Credito Valtellinese SpA Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2,791.19 -347.36 -305.66 -295.48 -271.63

Credito Valtellinese SpA Semi-Annual Data
Jun12 Dec12 Jun13 Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21
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 -305.66 -300.64 -295.48 -341.03 -271.63

Competitive Comparison of Credito Valtellinese SpA's Net-Net Working Capital

For the Banks - Regional subindustry, Credito Valtellinese SpA'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.


Credito Valtellinese SpA's Price-to-Net-Net-Working-Capital Distribution in the Banks Industry

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

* The bar in red indicates where Credito Valtellinese SpA's Price-to-Net-Net-Working-Capital falls into.



Credito Valtellinese SpA Net-Net Working Capital Calculation

Credito Valtellinese SpA's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2021 is calculated as

Net-Net Working Capital(A: Dec. 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)
=(4816.372+0+0.75 * 0+0.5 * 0-23870.818
-0-0.012)/70.1497
=-271.63

Credito Valtellinese SpA's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2021 is calculated as

Net-Net Working Capital(Q: Dec. 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)
=(4816.372+0+0.75 * 0+0.5 * 0-23870.818
-0-0.012)/70.1497
=-271.63

* 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.


Credito Valtellinese SpA  (STU:VA92) 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.


Credito Valtellinese SpA Net-Net Working Capital Related Terms

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Credito Valtellinese SpA (STU:VA92) Business Description

Traded in Other Exchanges
N/A
Address
Piazza Quadrivio 8, Sondrio, ITA, 23100
Credito Valtellinese SpA is a banking group operating in certain regions of Italy, Lombardia. The bank's customers include households, small to midsize enterprises, artisans, and professionals. Its network model assigns portions of its market to various retail territorial banks, and provides them with ongoing support through specialized finance and special-purpose companies, mostly through insurance services. The majority of the bank's net revenue comprises net interest income, followed by net fee and commission income. The bank's earning assets are mostly loans and receivables due from customers.

Credito Valtellinese SpA (STU:VA92) Headlines

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