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DTF (DTF Tax-Freeome 2028 Term Fund) Net-Net Working Capital : $-0.11 (As of Oct. 2024)


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What is DTF Tax-Freeome 2028 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.

DTF Tax-Freeome 2028 Term Fund's Net-Net Working Capital for the quarter that ended in Oct. 2024 was $-0.11.

The industry rank for DTF Tax-Freeome 2028 Term Fund's Net-Net Working Capital or its related term are showing as below:

DTF's Price-to-Net-Net-Working-Capital is not ranked *
in the Asset Management industry.
Industry Median: 7.05
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

DTF Tax-Freeome 2028 Term Fund Net-Net Working Capital Historical Data

The historical data trend for DTF Tax-Freeome 2028 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.

DTF Tax-Freeome 2028 Term Fund Net-Net Working Capital Chart

DTF Tax-Freeome 2028 Term Fund Annual Data
Trend Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 Oct24
Net-Net Working Capital
Get a 7-Day Free Trial -7.63 -8.97 -5.76 0.02 -0.11

DTF Tax-Freeome 2028 Term Fund Semi-Annual Data
Oct17 Apr18 Oct18 Apr19 Oct19 Apr20 Oct20 Apr21 Oct21 Apr22 Oct22 Apr23 Oct23 Apr24 Oct24
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 -5.76 -5.47 0.02 -0.10 -0.11

Competitive Comparison of DTF Tax-Freeome 2028 Term Fund's Net-Net Working Capital

For the Asset Management subindustry, DTF Tax-Freeome 2028 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.


DTF Tax-Freeome 2028 Term Fund's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, DTF Tax-Freeome 2028 Term Fund's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where DTF Tax-Freeome 2028 Term Fund's Price-to-Net-Net-Working-Capital falls into.


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DTF Tax-Freeome 2028 Term Fund Net-Net Working Capital Calculation

DTF Tax-Freeome 2028 Term Fund's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Oct. 2024 is calculated as

Net-Net Working Capital(A: Oct. 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)
=(3.032+0+0.75 * 0+0.5 * 0-3.789
-0-0)/7.030
=-0.11

DTF Tax-Freeome 2028 Term Fund's Net-Net Working Capital (NNWC) per share for the quarter that ended in Oct. 2024 is calculated as

Net-Net Working Capital(Q: Oct. 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)
=(3.032+0+0.75 * 0+0.5 * 0-3.789
-0-0)/7.030
=-0.11

* 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.


DTF Tax-Freeome 2028 Term Fund  (NYSE:DTF) 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.


DTF Tax-Freeome 2028 Term Fund Net-Net Working Capital Related Terms

Thank you for viewing the detailed overview of DTF Tax-Freeome 2028 Term Fund's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.


DTF Tax-Freeome 2028 Term Fund Business Description

Traded in Other Exchanges
N/A
Address
10 South Wacker Drive, Suite 1900, 19th Floor, Chicago, IL, USA, 60606
DTF Tax-Free Income 2028 Term Fund Inc is a diversified closed-end management investment company. The Fund's investment objective is current income exempt from regular federal income tax consistent with the preservation of capital. It seeks to achieve its investment objective by investing primarily in a diversified portfolio of investment-grade tax-exempt obligations.
Executives
Grumhaus David D Jr. other: Officer of Investment Adviser 200 S. WACKER DRIVE, SUITE 500, CHICAGO IL 60606
Mareile B. Cusack director DUFF & PHELPS INVESTMENT MANAGEMENT CO., 200 SOUTH WACKER DRIVE, SUITE 500, CHICAGO IL 60640
Timothy P. Riordan officer: Vice President DUFF & PHELPS INVESTMENT MANAGEMENT CO., 200 SOUTH WACKER DRIVE, SUITE 500, CHICAGO IL 60640
Kathleen Hegyi officer: CCO C/O DUFF & PHELPS INVESTMENT MANAGEMENT, 200 SOUTH WACKER DRIVE, CHICAGO IL 60606
Dusty L. Self officer: Vice President VIRTUS INVESTMENT PARTNERS, INC., 301 EAST PINE STREET, SUITE 500, ORLANDO FL 32801
Ronald H. Schwartz officer: Vice President VIRTUS INVESTMENT PARTNERS, INC., 301 EAST PINE STREET, SUITE 500, ORLANDO FL 32801
Wells Fargo & Company/mn 10 percent owner 420 MONTGOMERY STREET, SAN FRANCISCO CA 94163
Jpmorgan Chase Bank, N.a. 10 percent owner 1111 POLARIS PARKWAY, COLUMBUS OH 43240
George W Karpus other: See Explanation of Responses
Karpus Management, Inc. 10 percent owner 183 SULLY'S TRAIL, PITTSFORD NY 14534
Lisa Leonard officer: Vice President GATEWAY CENTER THREE, 1100 MUBERRY STREET, 4TH FLOOR, NEWARK NJ 07102
Timothy M Heaney officer: VP & Chief Investment Officer GATEWAY CENTER THREE, 1100 MUBERRY STREET, 4TH FLOOR, NEWARK NJ 07102
Hoffman Clifford W. Jr. director C/O DUFF & PHELPS INVESTMENT MANAGEMENT, 200 E. WACKER DR., CHICAGO IL 60606
Wells Fargo Bank N A 10 percent owner 101 NORTH PHILLIPS AVENUE, SIOUX FALLS SD 57104
Wells Fargo Municipal Capital Strategies, Llc 10 percent owner 375 PARK AVENUE, NEW YORK NY 10152