Bona Film Group (Bona Film Group) Net-Net Working Capital : $-7.75 (As of Sep. 2015)

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What is Bona Film Group 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.

Bona Film Group's Net-Net Working Capital for the quarter that ended in Sep. 2015 was $-7.75.

The industry rank for Bona Film Group's Net-Net Working Capital or its related term are showing as below:

BONA's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Media - Diversified industry.
Industry Median: 4.75
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Bona Film Group Net-Net Working Capital Historical Data

The historical data trend for Bona Film 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.

* Premium members only.

Bona Film Group Net-Net Working Capital Chart

Bona Film Group Annual Data

Trend

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Net-Net Working Capital

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0.38

-0.52

-1.27

-2.49

-3.61

Bona Film Group Quarterly Data
	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15
Net-Net Working Capital	Get a 7-Day Free Trial															-3.98	-3.61	-4.17	-3.94	-7.75

Competitive Comparison of Bona Film Group's Net-Net Working Capital

For the Broadcasting subindustry, Bona Film Group'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.

Bona Film Group's Price-to-Net-Net-Working-Capital Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Bona Film Group's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Bona Film Group's Price-to-Net-Net-Working-Capital falls into.

Bona Film Group Net-Net Working Capital Calculation

Bona Film Group's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2014 is calculated as

	Net-Net Working Capital		(A: Dec. 2014 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(97.171	+	0.75 * 72.68	+	0.5 * 0.377	-	376.367
-	0	-	2.039)	/	62.8047
=	-3.61

Bona Film Group's Net-Net Working Capital (NNWC) per share for the quarter that ended in Sep. 2015 is calculated as

	Net-Net Working Capital		(Q: Sep. 2015 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(75.799	+	0.75 * 0	+	0.5 * 0.585	-	560.324
-	0	-	1.595)	/	62.7198
=	-7.75

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.

Bona Film Group (NAS:BONA) 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.

Bona Film Group Net-Net Working Capital Related Terms

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Bona Film Group (Bona Film Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Bona Film Group Ltd (NAS:BONA) » Definitions » Net-Net Working Capital

Traded in Other Exchanges

N/A

Address

Website

http://www.bonafilm.cn

Bona Film Group Ltd is incorporated in the Cayman Islands on July 8, 2010. On December 14, 2010, it completed its initial public offering. The Company operates as a film distributor in China. It distributes films through virtually all of the theater circuits in China. It has distribution rights to a selection of films through joint distribution arrangements with industry participants such as the state-owned China Film Group Corporation. It has distributed 39 Chinese films (including Hong Kong films) internationally. In addition to film distribution and film and television production operations, it owns and operates 21 movie theaters in commercial districts and residential areas in several major cities in China. The Company's film distribution activities consist of film sourcing, which includes identifying quality film projects with commercial potential and securing film distribution rights; print and marketing, which includes coordinating the distribution of film prints to theater circuits, as well as conducting marketing and publicity campaigns to promote the films to their target audiences; exhibition, which includes negotiating the terms of exhibitions of films in domestic and international movie theaters as well as through non-theatrical distribution channels and film advertising, which includes the sale of approximately three minutes advertising time immediately prior to the start of the theatrical screening of a film, in-film product placements and cross-promotion campaigns. The Company faces competition for audiences from companies within the entertainment business and from alternative forms of leisure entertainment, such as sporting events, outdoor recreation, video games, the Internet and other cultural and computer-related activities. Its competitors in film distribution and production include state-owned enterprises such as China Film Group and non state-owned companies such as Huayi Brothers. Its trademark includes "Bona". Its talent agency business is subject to various PRC laws, rules and regulations.

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