BNY Mellon Alcentra Global Creditome 2024 Target Term Fund Net-Net Working Capital : $-3.69 (As of Feb. 2024)

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What is BNY Mellon Alcentra Global Creditome 2024 Target Term Fund 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.

BNY Mellon Alcentra Global Creditome 2024 Target Term Fund's Net-Net Working Capital for the quarter that ended in Feb. 2024 was $-3.69.

The industry rank for BNY Mellon Alcentra Global Creditome 2024 Target Term Fund's Net-Net Working Capital or its related term are showing as below:

DCF's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Asset Management industry.
Industry Median: 6.22
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

BNY Mellon Alcentra Global Creditome 2024 Target Term Fund Net-Net Working Capital Historical Data

The historical data trend for BNY Mellon Alcentra Global Creditome 2024 Target Term Fund'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.

BNY Mellon Alcentra Global Creditome 2024 Target Term Fund Net-Net Working Capital Chart

BNY Mellon Alcentra Global Creditome 2024 Target Term Fund Annual Data

Trend

Aug18

Aug19

Aug20

Aug21

Aug22

Aug23

Net-Net Working Capital

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-4.23

-3.89

-4.93

-4.34

-3.29

BNY Mellon Alcentra Global Creditome 2024 Target Term Fund Semi-Annual Data
	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Feb22	Aug22	Feb23	Aug23	Feb24
Net-Net Working Capital	Get a 7-Day Free Trial						-4.15	-4.34	-4.18	-3.29	-3.69

Competitive Comparison of BNY Mellon Alcentra Global Creditome 2024 Target Term Fund's Net-Net Working Capital

For the Asset Management subindustry, BNY Mellon Alcentra Global Creditome 2024 Target Term Fund'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.

BNY Mellon Alcentra Global Creditome 2024 Target Term Fund's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, BNY Mellon Alcentra Global Creditome 2024 Target Term Fund's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where BNY Mellon Alcentra Global Creditome 2024 Target Term Fund's Price-to-Net-Net-Working-Capital falls into.

BNY Mellon Alcentra Global Creditome 2024 Target Term Fund Net-Net Working Capital Calculation

BNY Mellon Alcentra Global Creditome 2024 Target Term Fund's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Aug. 2023 is calculated as

	Net-Net Working Capital		(A: Aug. 2023 )
=	(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)
=	(3.667	+	0	+	0.75 * 0	+	0.5 * 0	-	52.971
-	0	-	0)	/	15.0007
=	-3.29

BNY Mellon Alcentra Global Creditome 2024 Target Term Fund's Net-Net Working Capital (NNWC) per share for the quarter that ended in Feb. 2024 is calculated as

	Net-Net Working Capital		(Q: Feb. 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)
=	(0.604	+	0	+	0.75 * 0	+	0.5 * 0	-	55.993
-	0	-	0)	/	15.0007
=	-3.69

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.

BNY Mellon Alcentra Global Creditome 2024 Target Term Fund (NYSE:DCF) 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.

BNY Mellon Alcentra Global Creditome 2024 Target Term Fund Net-Net Working Capital Related Terms

Thank you for viewing the detailed overview of BNY Mellon Alcentra Global Creditome 2024 Target Term Fund's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.

BNY Mellon Alcentra Global Creditome 2024 Target Term Fund Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund Inc (NYSE:DCF) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

N/A

Address

c/o BNY Mellon Investment Adviser, Inc., 240 Greenwich Street, New York, NY, USA, 10286

Website

https://www.bnymellonim.com

BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund Inc is a diversified closed-end management investment company. Its investment objectives are to seek high current income and to return at least the Fund's original NAV to holders of record of common shares on or about the termination date.

Executives

Bushra Mannan	other: Director of BNYMIA (1)	C/O BNY MELLON INVESTMENT ADVISER, INC., 240 GREENWICH STREET, NEW YORK NY 10286
Irene Papadoulis	other: Director of BNYMIA (1)	C/O BNY MELLON INVESTMENT ADVISER, INC., 240 GREENWICH STREET, NEW YORK NY 10286
Ping Jiang	other: Dir. of Invest. Oversight (1)	C/O BNY MELLON INVESTMENT ADVISER, INC., 240 GREENWICH STREET, NEW YORK NY 10286
Bradley J Skapyak	officer: President	200 PARK AVENUE, NEW YORK NY 10166
Joseph Martella	officer: VP	C/O BNY MELLON INVESTMENT ADVISER, INC., 240 GREENWICH STREET, NEW YORK NY 10288
Daniel Goldstein	officer: VP	240 GREENWICH STREET, NEW YORK NY 10286
Robert J. Pomeroy	officer: VP; Investment Adviser	C/O BNY MELLON INVESTMENT ADVISER, INC., 240 GREENWICH STREET, NEW YORK NY 10286
Vinay Patel	other: Head of Finance of Sub-Adviser	200 PARK AVE, NEW YORK CITY NY 10166
Alcentra Ny, Llc	other: Sub-Adviser	200 PARK AVENUE, 7TH FLOOR, NEW YORK NY 10166
Brandon Chao	other: Portfolio Mgr of Sub-Adviser	200 PARK AVENUE, NEW YORK CITY NY 10166
Laurence Raven	other: Portfolio Mgr of Sub-Adviser	200 PARK AVENUE, NEW YORK CITY NY 10166
Ross Curran	other: Portfolio Mgr of Sub-Adviser	200 PARK AVENUE, NEW YORK CITY NY 10166
Cathy Bevan	other: Portfolio Mgr of Sub-Adviser	200 PARK AVENUE, NEW YORK CITY NY 10166
Daire Wheeler	other: Portfolio Mgr of Sub-Adviser	200 PARK AVENUE, NEW YORK CITY NY 10166
Eric Larsson	other: Portfolio Mgr of Sub-Adviser	C/O ALCENTRA NY LLC, 200 PARK AVENUE, NEW YORK CITY NY 10166