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FBSI (First Bancshares /MO/) Net-Net Working Capital : $-169.03 (As of Sep. 2024)


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What is First Bancshares /MO/ 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.

First Bancshares /MO/'s Net-Net Working Capital for the quarter that ended in Sep. 2024 was $-169.03.

The industry rank for First Bancshares /MO/'s Net-Net Working Capital or its related term are showing as below:

FBSI's Price-to-Net-Net-Working-Capital is not ranked *
in the Banks industry.
Industry Median: 4.9
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

First Bancshares /MO/ Net-Net Working Capital Historical Data

The historical data trend for First Bancshares /MO/'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.

First Bancshares /MO/ Net-Net Working Capital Chart

First Bancshares /MO/ Annual Data
Trend Jun08 Jun09 Jun10 Jun11 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -100.34 -106.19 -146.89 -164.18 -191.88

First Bancshares /MO/ Quarterly Data
Dec18 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Jun24 Sep24
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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -172.78 -165.37 -191.88 -172.15 -169.03

Competitive Comparison of First Bancshares /MO/'s Net-Net Working Capital

For the Banks - Regional subindustry, First Bancshares /MO/'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.


First Bancshares /MO/'s Price-to-Net-Net-Working-Capital Distribution in the Banks Industry

For the Banks industry and Financial Services sector, First Bancshares /MO/'s Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where First Bancshares /MO/'s Price-to-Net-Net-Working-Capital falls into.


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First Bancshares /MO/ Net-Net Working Capital Calculation

First Bancshares /MO/'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)
=(9.318+12.765+0.75 * 0+0.5 * 0-487.97
-0-0)/2.428
=-191.88

First Bancshares /MO/'s Net-Net Working Capital (NNWC) per share for the quarter that ended in Sep. 2024 is calculated as

Net-Net Working Capital(Q: Sep. 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)
=(49.348+0+0.75 * 0+0.5 * 0-459.753
-0-0)/2.428
=-169.03

* 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 Bancshares /MO/  (OTCPK:FBSI) 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.


First Bancshares /MO/ Net-Net Working Capital Related Terms

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First Bancshares /MO/ Business Description

Traded in Other Exchanges
N/A
Address
25 North Cascade Avenue, Suite 100, Colorado Springs, CO, USA, 80903
First Bancshares Inc /MO/ is a bank holding company. Through its subsidiary, the Stockmens Bank, it offers online banking, personal banking, and business banking services. The bank provides community banking services and is engaged in attracting deposits from, and making loans to, the general public, including individuals and businesses. It originates real estate loans, including one-to-four family residential mortgage loans, multi-family residential loans, commercial real estate loans, commercial business loans, agricultural business loans, and consumer loans. The bank also invests in mortgage-backed securities, United States Government and agency securities, and other assets.
Executives
Thomas M Sutherland director 302 EAST SOUTH STREET, OZARK MO 65721
Richard Bradley Weaver director, officer: Chairman of the Board and CEO 142 E. FIRST STREET, MOUNTAIN GROVE MO 65711
D Mitch Ashlock director 142 EAST FIRST STREET, MOUNTAIN GROVE MO 65711
Breidenthal Robert Jack Jr other: Advisory Director 142 EAST FIRST STREET, MOUNTAIN GROVE MO 65711
Lannie E Crawford officer: President 142 E. FIRST STREET, MOUNTAIN GROVE MO 65711
John K Francka officer: Senior VP-Chief Credit Officer 142 EAST FIRST STREET, MOUNTAIN GROVE MO 65711
Dale W Keenan officer: Exec.VP-Senior Loan Officer 142 EAST FIRST STREET, MOUNTAIN GROVE MO 65711
Ronald J Walters officer: Senior Vice President and CFO 103 MALLARD AVE., STORM LAKE IA 50588
James W Duncan officer: President and CEO C/O FIRST BANCSHARES INC, 142 E FIRST, MOUNTAIN GROVE MO 65711
Adrian C Rushing officer: Sr. Vice President-Operations 502 SHORES PARKWAY, ROGERSVILLE MO 65742
Daniel P Katzfey officer: Executive VP and CLO 5615 S. NEWTON, SPRINGFIELD MO 65819
Sonya G Everett officer: Secretary 142 E. FIRST STREET, MOUNTAIN GROVE MO 65711
Harold F Glass director 1736 E SUNSHINE SUITE 405, SPRINGFIELD MO 65804
Billy Eugene Hixon director 3580 W. MORNINGSIDE PLACE, SPRINGFIELD MO 65807
Susan J Uchtman officer: CFO 4927 HIGHWAY W, MOUNTAIN GROVE MO 65711