GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » United States Steel Corp (BSP:USSX34) » Definitions » Net-Net Working Capital

United States Steel (BSP:USSX34) Net-Net Working Capital : R$-127.00 (As of Sep. 2024)


View and export this data going back to 2016. Start your Free Trial

What is United States Steel 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.

United States Steel's Net-Net Working Capital for the quarter that ended in Sep. 2024 was R$-127.00.

The industry rank for United States Steel's Net-Net Working Capital or its related term are showing as below:

BSP:USSX34's Price-to-Net-Net-Working-Capital is not ranked *
in the Steel industry.
Industry Median: 5.305
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

United States Steel Net-Net Working Capital Historical Data

The historical data trend for United States Steel'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.

United States Steel Net-Net Working Capital Chart

United States Steel Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -120.49 -113.00 -77.43 -79.07 -95.28

United States Steel Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 -87.78 -95.28 -106.36 -116.15 -127.00

Competitive Comparison of United States Steel's Net-Net Working Capital

For the Steel subindustry, United States Steel'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.


United States Steel's Price-to-Net-Net-Working-Capital Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, United States Steel's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where United States Steel's Price-to-Net-Net-Working-Capital falls into.



United States Steel Net-Net Working Capital Calculation

United States Steel's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2023 is calculated as

Net-Net Working Capital(A: Dec. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(14444.61+0.75 * 6810.722+0.5 * 10426.774-45622.038
-0-455.681)/223.671
=-95.28

United States Steel's Net-Net Working Capital (NNWC) per share for the quarter that ended in Sep. 2024 is calculated as

Net-Net Working Capital(Q: Sep. 2024 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(9818.519+0.75 * 8112.877+0.5 * 11291.574-49629.764
-0-515.015)/225.166
=-127.00

* 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.


United States Steel  (BSP:USSX34) 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.


United States Steel Net-Net Working Capital Related Terms

Thank you for viewing the detailed overview of United States Steel's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.


United States Steel Business Description

Address
600 Grant Street, Pittsburgh, PA, USA, 15219-2800
United States Steel Corp operates primarily in the United States but also has a steelmaking capacity in Slovakia. The company's operating segments include North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment includes U. S. Steel's integrated steel plants and equity investees in North America involved in the production of slabs, strip mill plates, sheets, and tin mill products, as well as all iron ore and coke production facilities in the United States. It primarily serves North American customers in the service center, conversion, transportation, construction, container, and appliance, and electrical markets.

United States Steel Headlines

No Headlines