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Brunner Investment Trust (The) (CHIX:BUTL) Net-Net Working Capital : £-0.75 (As of Nov. 2024)


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What is Brunner Investment Trust (The) 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.

Brunner Investment Trust (The)'s Net-Net Working Capital for the quarter that ended in Nov. 2024 was £-0.75.

The industry rank for Brunner Investment Trust (The)'s Net-Net Working Capital or its related term are showing as below:

CHIX:BUTl's Price-to-Net-Net-Working-Capital is not ranked *
in the Asset Management industry.
Industry Median: 6.84
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Brunner Investment Trust (The) Net-Net Working Capital Historical Data

The historical data trend for Brunner Investment Trust (The)'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.

Brunner Investment Trust (The) Net-Net Working Capital Chart

Brunner Investment Trust (The) Annual Data
Trend Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23 Nov24
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -0.60 -0.78 -0.67 -0.63 -0.75

Brunner Investment Trust (The) Semi-Annual Data
May15 Nov15 May16 Nov16 May17 Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24
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 -0.67 -0.59 -0.63 -0.59 -0.75

Competitive Comparison of Brunner Investment Trust (The)'s Net-Net Working Capital

For the Asset Management subindustry, Brunner Investment Trust (The)'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.


Brunner Investment Trust (The)'s Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Brunner Investment Trust (The)'s Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Brunner Investment Trust (The)'s Price-to-Net-Net-Working-Capital falls into.


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Brunner Investment Trust (The) Net-Net Working Capital Calculation

Brunner Investment Trust (The)'s Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Nov. 2024 is calculated as

Net-Net Working Capital(A: Nov. 2024 )
=(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)
=(4.812+0+0.75 * 0+0.5 * 0-36.839
-0-0)/42.964
=-0.75

Brunner Investment Trust (The)'s Net-Net Working Capital (NNWC) per share for the quarter that ended in Nov. 2024 is calculated as

Net-Net Working Capital(Q: Nov. 2024 )
=(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)
=(4.812+0+0.75 * 0+0.5 * 0-36.839
-0-0)/42.964
=-0.75

* 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.


Brunner Investment Trust (The)  (CHIX:BUTl) 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.


Brunner Investment Trust (The) Net-Net Working Capital Related Terms

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Brunner Investment Trust (The) Business Description

Traded in Other Exchanges
Address
199 Bishopsgate, London, GBR, EC2M 3TY
Brunner Investment Trust (The) PLC is a United Kingdom-based investment trust. It aims to provide growth in capital value and dividends over the long term by investing in UK securities and international securities. The benchmark against which performance is measured is 70% FTSE World ex-UK Index and 30% FTSE All-Share Index. Its portfolio consists of securities from Industrials, Financials, Information Technology, Health Care, Energy, and other industries.

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