What is WSP Holdings 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.
WSP Holdings's Net-Net Working Capital for the quarter that ended in Dec. 2012 was €-36.73.
The industry rank for WSP Holdings's Net-Net Working Capital or its related term are showing as below:
WSP Holdings Net-Net Working Capital Historical Data
The historical data trend for WSP Holdings'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.
WSP Holdings Net-Net Working Capital Chart
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WSP Holdings Annual Data
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Trend |
Dec04 |
Dec05 |
Dec06 |
Dec07 |
Dec08 |
Dec09 |
Dec10 |
Dec11 |
Dec12 |
| Net-Net Working Capital |
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|
|
-14.32 |
-18.79 |
-28.05 |
-38.12 |
-36.73 |
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WSP Holdings Semi-Annual Data
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Dec04 |
Dec05 |
Dec06 |
Dec07 |
Dec08 |
Dec09 |
Dec10 |
Dec11 |
Dec12 |
| Net-Net Working Capital |
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|
|
-14.32 |
-18.79 |
-28.05 |
-38.12 |
-36.73 |
Competitive Comparison of WSP Holdings's Net-Net Working Capital
For the Oil & Gas Equipment & Services subindustry, WSP Holdings'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.
WSP Holdings's Price-to-Net-Net-Working-Capital Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, WSP Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where WSP Holdings's Price-to-Net-Net-Working-Capital falls into.
WSP Holdings Net-Net Working Capital Calculation
WSP Holdings's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2012 is calculated as
WSP Holdings's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2012 is calculated as
* 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.
WSP Holdings Business Description
Traded in Other Exchanges
N/A
Address
WSP Holdings Ltd was incorporated in the Cayman Islands on November 16, 2006. It is a holding company, which conducts substantially all of its operations through its subsidiaries in China. The Company is a Chinese manufacturer of seamless Oil Country Tubular Goods (OCTG), including casing, tubing and drill pipes used for oil and natural gas exploration, drilling and extraction. It offers a range of seamless OCTG products to its customers. Its product portfolio could generally be divided into two categories, API products and non-API. API products are products manufactured according to the standards formulated by the American Petroleum Institute and non-API products are products tailor-made to meet its customers' specifications, and that are generally manufactured to a higher standard than API products. The Company's key operating assets included ten threading lines and two drill pipe production lines with an aggregate annual production capacity of approximately 1,394,000 tonnes of seamless OCTG. Its production capacity was approximately 1,430,000 tonnes. It sells its products in both domestic and international markets. In China, it targets sales of its products mainly at Chinese oil companies. It faces competition in the domestic and international markets in which it operates. Many of its competitors are state-owned enterprises which might have greater resources and better brand recognition than it does. The Company's subsidiaries are generally subject to laws and regulations applicable to foreign investments in China and, in particular, laws applicable to wholly foreign-owned enterprises.
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