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Bowlin Travel Centers (Bowlin Travel Centers) Net-Net Working Capital : $-0.45 (As of Jan. 2011)


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What is Bowlin Travel Centers 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.

Bowlin Travel Centers's Net-Net Working Capital for the quarter that ended in Jan. 2011 was $-0.45.

The industry rank for Bowlin Travel Centers's Net-Net Working Capital or its related term are showing as below:

BWTL's Price-to-Net-Net-Working-Capital is not ranked *
in the Retail - Cyclical industry.
Industry Median: 6.26
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Bowlin Travel Centers Net-Net Working Capital Historical Data

The historical data trend for Bowlin Travel Centers'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.

Bowlin Travel Centers Net-Net Working Capital Chart

Bowlin Travel Centers Annual Data
Trend Jan02 Jan03 Jan04 Jan05 Jan06 Jan07 Jan08 Jan09 Jan10 Jan11
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -0.60 -0.18 -0.24 -0.18 -0.45

Bowlin Travel Centers Semi-Annual Data
Jan00 Jan01 Jan02 Jan03 Jan04 Jan05 Jan06 Jan07 Jan08 Jan09 Jan10 Jan11
Net-Net Working Capital Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.60 -0.18 -0.24 -0.18 -0.45

Competitive Comparison of Bowlin Travel Centers's Net-Net Working Capital

For the Specialty Retail subindustry, Bowlin Travel Centers'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.


Bowlin Travel Centers's Price-to-Net-Net-Working-Capital Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Bowlin Travel Centers's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Bowlin Travel Centers's Price-to-Net-Net-Working-Capital falls into.



Bowlin Travel Centers Net-Net Working Capital Calculation

Bowlin Travel Centers's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jan. 2011 is calculated as

Net-Net Working Capital(A: Jan. 2011 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(3.891+0.75 * 0.03+0.5 * 3.514-7.587
-0-0)/4.21314
=-0.45

Bowlin Travel Centers's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jan. 2011 is calculated as

Net-Net Working Capital(Q: Jan. 2011 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(3.891+0.75 * 0.03+0.5 * 3.514-7.587
-0-0)/4.21314
=-0.45

* 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.


Bowlin Travel Centers  (OTCPK:BWTL) 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.


Bowlin Travel Centers Net-Net Working Capital Related Terms

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Bowlin Travel Centers (Bowlin Travel Centers) Business Description

Traded in Other Exchanges
N/A
Address
150 Louisiana Boulevard NE, Albuquerque, NM, USA, 87108
Bowlin Travel Centers Inc operates several travel centers and restaurants located along interstate highways in New Mexico and Arizona. Some of its travel centers also offer fuel and full-service restaurants under the Dairy Queen/Brazier, Dairy Queen, or Subway trade names. All of the company's travel centers offer a variety of Southwestern merchandise to the traveling public in the Southwestern United States, and New Mexico. It also operates a convenience store selling chips, nuts, cookies, and prepackaged sandwiches, along with a variety of bottled and canned drinks.
Executives
James F Adelson 10 percent owner 15 EAST 5TH STREET, SUITE 3200, TULSA OK 74103
Stephen J Heyman 10 percent owner 15 EAST 5TH STREET, SUITE 3200, TULSA OK 74103
Yorktown Avenue Capital, Llc 10 percent owner 15 EAST 5TH STREET, SUITE 3200, TULSA OK 74103
Jonathan Brooks 10 percent owner 2201 NORTH BEVERLY DR., BEVERLY HILLS CA 90210

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