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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.
First Trust/aberdeen Global Oppoome's Net-Net Working Capital for the quarter that ended in Jun. 2024 was $-1.65.
The industry rank for First Trust/aberdeen Global Oppoome's Net-Net Working Capital or its related term are showing as below:
The historical data trend for First Trust/aberdeen Global Oppoome'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.
First Trust/aberdeen Global Oppoome Annual Data | ||||||||||||||||
Trend | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||
Net-Net Working Capital | Get a 7-Day Free Trial | -4.67 | -4.20 | -3.91 | -2.63 | -1.64 |
First Trust/aberdeen Global Oppoome Semi-Annual Data | ||||||||||||||
Dec17 | Jun18 | Dec18 | Jun19 | Dec19 | Jun20 | Dec20 | Jun21 | Dec21 | Jun22 | Dec22 | Jun23 | Dec23 | Jun24 | |
Net-Net Working Capital | Get a 7-Day Free Trial |
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-3.00 | -2.63 | -1.69 | -1.64 | -1.65 |
For the Asset Management subindustry, First Trust/aberdeen Global Oppoome'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.
For the Asset Management industry and Financial Services sector, First Trust/aberdeen Global Oppoome's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where First Trust/aberdeen Global Oppoome's Price-to-Net-Net-Working-Capital falls into.
First Trust/aberdeen Global Oppoome's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2023 is calculated as
Net-Net Working Capital | (A: Dec. 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) | ||||
= | (0.766 | + | 0 | + | 0.75 * 0 | + | 0.5 * 0 | - | 17.425 |
- | 0 | - | 0) | / | 10.143 | ||||
= | -1.64 |
First Trust/aberdeen Global Oppoome's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jun. 2024 is calculated as
Net-Net Working Capital | (Q: Jun. 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) | ||||
= | (0.538 | + | 0 | + | 0.75 * 0 | + | 0.5 * 0 | - | 17.229 |
- | 0 | - | 0) | / | 10.143 | ||||
= | -1.65 |
* 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.
First Trust/aberdeen Global Oppoome (NYSE:FAM) 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.
Thank you for viewing the detailed overview of First Trust/aberdeen Global Oppoome's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.
Bronwyn Wright | director | FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187 |
Jaclyn Marie Matsick | other: Director-Investment Advisor | C/O ABRDN, 1900 MARKET STREET, SUITE 200, PHILADELPHIA PA 19103 |
Marika Tooze | director | C/O ABRDN, 1900 MARKET STREET, SUITE 200, PHILADELPHIA PA 19103 |
Thomas R Kadlec | director | C/O FIRST TRUST ADVISORS LP, 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187 |
M Keefe Denise | director | C/O FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187 |
Kelly Catherine Dehler | other: Officer-Investment Advisor | C/O FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187 |
George W Karpus | other: See Explanation of Responses | |
Scott Michael Friske | other: Officer-Investment Advisor | FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187 |
Mickey Janvier | other: Director of Sub-Adviser | C/O ABERDEEN STANDARD INVESTMENTS, 1900 MARKET STREET, SUITE 200, PHILADELPHIA PA 19103 |
James Joseph O'connor | other: Director of Sub-Adviser | C/O ABERDEEN STANDARD INVESTMENTS, 1900 MARKET STREET, SUITE 200, PHILADELPHIA PA 19103 |
Joseph Andolina | other: Officer-Investment Sub-Advisor | 1735 MARKET STREET, 32ND FLOOR, PHILADELPHIA PA 19103 |
Karpus Management, Inc. | 10 percent owner | 183 SULLY'S TRAIL, PITTSFORD NY 14534 |
Chris Demetriou | other: Officer-Invest. Sub-Advisor | 1735 MARKET STREET, 32ND FLOOR, PHILADELPHIA PA 19103 |
Robert F Keith | director | C/O FIRST TRUST ADVISORS L.P., 120 EAST LIBERTY DRIVE, SUITE 400, WHEATON IL 60187 |
Ralph Bassett | other: Officer-Investment Sub-Advisor | 1735 MARKET ST., 32ND FLOOR, PHILADELPHIA PA 19103 |
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