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Pets at Home Group (FRA:6P8) Net-Net Working Capital : €-1.45 (As of Mar. 2024)


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What is Pets at Home Group 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.

Pets at Home Group's Net-Net Working Capital for the quarter that ended in Mar. 2024 was €-1.45.

The industry rank for Pets at Home Group's Net-Net Working Capital or its related term are showing as below:

FRA:6P8's Price-to-Net-Net-Working-Capital is not ranked *
in the Retail - Cyclical industry.
Industry Median: 5.91
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Pets at Home Group Net-Net Working Capital Historical Data

The historical data trend for Pets at Home Group'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.

Pets at Home Group Net-Net Working Capital Chart

Pets at Home Group Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.60 -1.34 -1.19 -1.36 -1.45

Pets at Home Group Semi-Annual Data
Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24
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 -1.19 -1.30 -1.36 -1.40 -1.45

Competitive Comparison of Pets at Home Group's Net-Net Working Capital

For the Specialty Retail subindustry, Pets at Home Group'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.


Pets at Home Group's Price-to-Net-Net-Working-Capital Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Pets at Home Group's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Pets at Home Group's Price-to-Net-Net-Working-Capital falls into.



Pets at Home Group Net-Net Working Capital Calculation

Pets at Home Group's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Mar. 2024 is calculated as

Net-Net Working Capital(A: Mar. 2024 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(66.75+0.75 * 16.249+0.5 * 113.977-812.803
-0-0)/467.912
=-1.45

Pets at Home Group's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2024 is calculated as

Net-Net Working Capital(Q: Mar. 2024 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(66.75+0.75 * 16.249+0.5 * 113.977-812.803
-0-0)/467.912
=-1.45

* 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.


Pets at Home Group  (FRA:6P8) 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.


Pets at Home Group Net-Net Working Capital Related Terms

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Pets at Home Group (FRA:6P8) Business Description

Traded in Other Exchanges
Address
Epsom Avenue, Stanley Green Trading Estate, Handforth, Cheshire, GBR, SK9 3RN
Pets at Home Group PLC is an omnichannel British retailer operating mainly in the United Kingdom. The company has a network of stores, websites, grooming salons, and pet services, such as veterinary. The product portfolio is diverse, including items for dogs, cats, fish, reptiles, birds, and wildlife. The items sold are from the following categories: food, pet beds, toys, pet clothing, kennels, collars, healthcare, grooming, training, books, and accessories. The products are sold under the Pets at Home brand, private brand, and labels. The veterinary services are located within stores, as well as in stand-alone locations, throughout the U.K.

Pets at Home Group (FRA:6P8) Headlines

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