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Orbitz Worldwide (FRA:32O) Net-Net Working Capital : €-6.55 (As of Jun. 2015)


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What is Orbitz Worldwide 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.

Orbitz Worldwide's Net-Net Working Capital for the quarter that ended in Jun. 2015 was €-6.55.

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

FRA:32O's Price-to-Net-Net-Working-Capital is not ranked *
in the Travel & Leisure industry.
Industry Median: 6.82
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Orbitz Worldwide Net-Net Working Capital Historical Data

The historical data trend for Orbitz Worldwide'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.

Orbitz Worldwide Net-Net Working Capital Chart

Orbitz Worldwide Annual Data
Trend Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -6.56 -5.87 -5.73 -5.97 -6.07

Orbitz Worldwide Quarterly Data
Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15
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 -6.20 -6.09 -6.07 -6.86 -6.55

Competitive Comparison of Orbitz Worldwide's Net-Net Working Capital

For the Leisure subindustry, Orbitz Worldwide'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.

Orbitz Worldwide's Price-to-Net-Net-Working-Capital Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Orbitz Worldwide's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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


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Orbitz Worldwide Net-Net Working Capital Calculation

Orbitz Worldwide's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2014 is calculated as

Net-Net Working Capital(A: Dec. 2014 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(152.859+0.75 * 95.244+0.5 * 0-896.051
-0-0)/110.733
=-6.07

Orbitz Worldwide's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jun. 2015 is calculated as

Net-Net Working Capital(Q: Jun. 2015 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(271.575+0.75 * 143.754+0.5 * 0-1116.673
-0-0)/112.636
=-6.55

* 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.

Orbitz Worldwide  (FRA:32O) 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.

Orbitz Worldwide Net-Net Working Capital Related Terms

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Orbitz Worldwide Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Orbitz Worldwide Inc (FRA:32O) » Definitions » Net-Net Working Capital
Comparable Companies
XMAD:PQR OSTO:FOI B TSE:7867 SZSE:300526 ISCA TSE:8114 TSE:8050 SAU:1830 SZSE:300793 TSE:4680 SZSE:300123 SZSE:002605 OSW HKSE:00678 SHSE:688010 TSE:9603 TPE:1736 XPAR:BEN XTER:BVB TSE:9681
Traded in Other Exchanges
N/A
Address
Website
http://www.orbitz.com
Orbitz Worldwide Inc was incorporated in Delaware on June 18, 2007 and was formed to be the parent company of the business-to-consumer travel businesses of Travelport, including Orbitz, ebookers and HotelClub and the related subsidiaries and affiliates of those businesses. It is an online travel company that uses technology to enable leisure and business travelers to research, plan and book travel products and services. Its brand portfolio includes Orbitz and CheapTickets in the Americas; ebookers in Europe; and HotelClub and RatesToGo based in Australia, which have operations globally (collectively referred to as HotelClub). It also owns and operates Orbitz for Business, a corporate travel company, and Orbitz Partner Network group, which delivers private label travel solutions to partners. It provides customers with the ability to book travel products and services from suppliers worldwide, including air travel, hotels, vacation packages, car rentals, cruises, rail tickets, travel insurance and destination services such as ground transportation, event tickets and tours. Orbitz.com is its brand and sells a full suite of travel products and services, including flights, hotels, car rentals, cruises, and vacation packages. CheapTickets is a U.S. travel website that targets value-conscious customers. CheapTickets offers customers travel products and services, including air travel, hotels, car rentals, cruises, travel insurance, destination services and event tickets from suppliers worldwide on a stand-alone basis or as part of a vacation package. Customers can also book travel products from their mobile devices through a mobile website. Orbitz for Business leverages and customizes its technology expertise for corporate travelers, offering a complete portfolio of travel products and services that help corporate customers plan, search and book business travel. Orbitz for Business delivers full service, cost-effective travel products and travel management solutions, including 24/7 support along with expense reporting and policy management tools. ebookers is a pan-European online travel agency that offers customers the ability to search for and book travel products and services through websites in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, the Netherlands, Norway, Sweden, Switzerland and the United Kingdom. Customers can book travel products and services, including airline tickets, hotel rooms, car rentals, rail tickets and travel insurance, on a stand-alone basis or as part of a vacation package. ebookers also offers customers the ability to book travel products from their mobile phones through the ebookers App for iPhone, Android and iPad and mobile website. HotelClub is a global hotel booking website offering members a worldwide selection of hotel properties across more than 140 countries. The Company uses a combination of online and traditional offline marketing. The Company's competition includes: online and offlin

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