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CYSPA.PFD (CYS Investments) Net-Net Working Capital : $0.00 (As of Mar. 2018)


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What is CYS Investments 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.

CYS Investments's Net-Net Working Capital for the quarter that ended in Mar. 2018 was $0.00.

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

CYSpA.PFD's Price-to-Net-Net-Working-Capital is not ranked *
in the REITs industry.
Industry Median: 14.48
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

CYS Investments Net-Net Working Capital Historical Data

The historical data trend for CYS Investments'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.

CYS Investments Net-Net Working Capital Chart

CYS Investments Annual Data
Trend Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17
Net-Net Working Capital
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CYS Investments Quarterly Data
Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18
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Competitive Comparison of CYS Investments's Net-Net Working Capital

For the REIT - Diversified subindustry, CYS Investments'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.


CYS Investments's Price-to-Net-Net-Working-Capital Distribution in the REITs Industry

For the REITs industry and Real Estate sector, CYS Investments's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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



CYS Investments Net-Net Working Capital Calculation

CYS Investments's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2017 is calculated as

Net-Net Working Capital(A: Dec. 2017 )
=(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)
=(4.132+0+0.75 * 32.89+0.5 * 0-11571.335
-265.9-0)/0
=N/A

CYS Investments's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2018 is calculated as

Net-Net Working Capital(Q: Mar. 2018 )
=(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)
=(6.206+0+0.75 * 38.559+0.5 * 0-11503.316
-265.9-0)/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.


CYS Investments  (NYSE:CYSpA.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.


CYS Investments Net-Net Working Capital Related Terms

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CYS Investments Business Description

Traded in Other Exchanges
N/A
Address
CYS Investments Inc is a specialty finance company with the objective of risk-adjusted investment income. The company generates its revenue primarily from the difference between the interest income earned on the investment portfolio and the cost of the company's borrowings and hedging activities. The company's investments include residential mortgage pass-through securities, for which the principal and interest payments are guaranteed by a government agency or government-sponsored entity; collateralised mortgage obligations issued by a government agency or government-sponsored entity; U.S. Treasuries; and debt securities issued by a government agency or a government-sponsored entity that is not backed by collateral.