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CHS (CHSCO.PFD) Net-Net Working Capital : $0.00 (As of Feb. 2019)


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What is CHS 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.

CHS's Net-Net Working Capital for the quarter that ended in Feb. 2019 was $0.00.

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

CHSCO.PFD's Price-to-Net-Net-Working-Capital is not ranked *
in the Consumer Packaged Goods industry.
Industry Median: 7.66
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

CHS Net-Net Working Capital Historical Data

The historical data trend for CHS'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.

CHS Net-Net Working Capital Chart

CHS Annual Data
Trend Aug09 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug18
Net-Net Working Capital
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CHS Quarterly Data
May14 Aug14 Nov14 Feb15 May15 Aug15 Nov15 Feb16 May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19
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Competitive Comparison of CHS's Net-Net Working Capital

For the Farm Products subindustry, CHS'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.


CHS's Price-to-Net-Net-Working-Capital Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, CHS's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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



CHS Net-Net Working Capital Calculation

CHS's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Aug. 2018 is calculated as

Net-Net Working Capital(A: Aug. 2018 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(450.617+0.75 * 1578.764+0.5 * 2768.649-8216.15
-2264.038-9.446)/0
=N/A

CHS's Net-Net Working Capital (NNWC) per share for the quarter that ended in Feb. 2019 is calculated as

Net-Net Working Capital(Q: Feb. 2019 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(367.307+0.75 * 1415.994+0.5 * 3554.78-8533.945
-2264.038-8.332)/0
=N/A

* 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.


CHS  (NAS:CHSCO.PFD) 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.


CHS Net-Net Working Capital Related Terms

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CHS Business Description

Traded in Other Exchanges
N/A
Address
5500 Cenex Drive, Inver Grove Heights, MN, USA, 55077
CHS Inc is an integrated agricultural enterprise, that provides grain, food and energy resources to businesses and consumers. Its Energy segment produces and provides wholesale distribution of petroleum products and transportation of those products. Its Ag segment, which is the key revenue driver, purchases and processes or resells grains and oilseeds; serves as a wholesaler and retailer of crop inputs; produces and markets ethanol. Its Nitrogen Production segment consists of equity method investment in CF Nitrogen, which entitles to the purchase of up to a specified quantity of granular urea and UAN annually from CF Nitrogen. Maximum revenue is generated from Ag segment.