Constellation Pharmaceuticals (Constellation Pharmaceuticals) Net-Net Working Capital : $7.45 (As of Mar. 2021)

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What is Constellation Pharmaceuticals 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.

Constellation Pharmaceuticals's Net-Net Working Capital for the quarter that ended in Mar. 2021 was $7.45.

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

CNST's Price-to-Net-Net-Working-Capital is not ranked
in the Biotechnology industry.
Industry Median: 4.33 vs CNST: 4.56

Constellation Pharmaceuticals Net-Net Working Capital Historical Data

The historical data trend for Constellation Pharmaceuticals'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.

Constellation Pharmaceuticals Net-Net Working Capital Chart

Constellation Pharmaceuticals Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Net-Net Working Capital

-122.77

-155.04

3.87

7.73

8.18

Constellation Pharmaceuticals Quarterly Data
	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21
Net-Net Working Capital	Get a 7-Day Free Trial													7.20	9.64	8.97	8.18	7.45

Competitive Comparison of Constellation Pharmaceuticals's Net-Net Working Capital

For the Biotechnology subindustry, Constellation Pharmaceuticals'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.

Constellation Pharmaceuticals's Price-to-Net-Net-Working-Capital Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Constellation Pharmaceuticals's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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

Constellation Pharmaceuticals Net-Net Working Capital Calculation

Constellation Pharmaceuticals's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2020 is calculated as

	Net-Net Working Capital		(A: Dec. 2020 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(421.448	+	0.75 * 0	+	0.5 * 0	-	31.13
-	0	-	0)	/	47.7445
=	8.18

Constellation Pharmaceuticals's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2021 is calculated as

	Net-Net Working Capital		(Q: Mar. 2021 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(382.08	+	0.75 * 0	+	0.5 * 0	-	25.34
-	0	-	0)	/	47.9132
=	7.45

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.

Constellation Pharmaceuticals (NAS:CNST) 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.

Constellation Pharmaceuticals Net-Net Working Capital Related Terms

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Constellation Pharmaceuticals (Constellation Pharmaceuticals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Constellation Pharmaceuticals Inc (NAS:CNST) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

N/A

Address

215 First Street, Suite 200, Cambridge, MA, USA, 02142

Website

http://www.constellationpharma.com

Constellation Pharmaceuticals Inc is a clinical-stage biopharmaceutical company. It is engaged in developing novel therapeutics that address serious unmet medical needs in patients with cancers associated with abnormal gene expression or drug resistance. The company's lead products include CPI-0610, which is a small molecule designed to promote anti-tumor activity by specifically inhibiting the function of BET proteins, which normally enhance target gene expression, and CPI-1205 which is a small molecule designed to promote anti-tumor activity by specifically inhibiting EZH2, an enzyme that suppresses target gene expression. It operates in the segment of the development of novel therapeutics in the field of epigenetics.

Executives

Emma Reeve	officer: Chief Financial Officer	C/O PAREXEL INTERNATIONAL CORPORATION, 195 WEST STREET, WALTHAM MA 02451
Column Group L P	10 percent owner	1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158
Karen Valentine	officer: See Remarks	C/O ANTIGENICS INC., 3 FORBES RD, LEXINGTON MA 02421
Mark A Goldsmith	director, 10 percent owner	925 PAGE MILL ROAD, PALO ALTO CA 94304
Jeffrey Humphrey	officer: Chief Medical Officer	C/O CONSTELLATION PHARMACEUTICALS, INC., 215 FIRST STREET, SUITE 200, CAMBRIDGE MA 02142
Steven L. Hoerter	director	C/O DECIPHERA PHARMACEUTICALS, INC., 200 SMITH STREET, WALTHAM MA 02451
Elizabeth Trehu	director	C/O JOUNCE THERAPEUTICS, INC., 1030 MASSACHUSETTS AVENUE, CAMBRIDGE MA 02138
Scott Braunstein	director	C/O ESPERION THERAPEUTICS, INC., 3891 RANCHERO DRIVE, SUITE 150, ANN ARBOR MI 48108
James E Audia	director	215 FIRST STREET, SUITE 200 CAMBRIDGE MA 02142
Adrian Senderowicz	officer: Chief Medical Officer	C/O PUMA BIOTECHNOLOGY, INC., 10880 WILSHIRE BOULEVARD, SUITE 2150, LOS ANGELES CA 90024
Jigar Raythatha	director, officer: See Remarks	C/O JOUNCE THERAPEUTICS, INC., 780 MEMORIAL DRIVE, CAMBRIDGE MA 02139
Patrick Trojer	officer: Chief Scientific Officer	215 FIRST STREET SUITE 200 CAMBRIDGE MA 02142
Richard S Levy	director	860 WASHINGTON STREET, 3RD FLOOR, NEW YORK NY 10014
Ponoi Management, Llc	10 percent owner, other: General Partner	1 LETTERMAN DRIVE, BUILDING D, SUITE M-900, SAN FRANCISCO CA 94129
David V Goeddel	10 percent owner, other: Managing Partner	C/O COLUMN GROUP LP, 1700 OWENS STREET, SUITE 500, SAN FRANCISCO CA 94158