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UniFirst (FRA:U1N) Net-Net Working Capital : €-0.30 (As of Aug. 2024)


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What is UniFirst 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.

UniFirst's Net-Net Working Capital for the quarter that ended in Aug. 2024 was €-0.30.

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

FRA:U1N's Price-to-Net-Net-Working-Capital is not ranked *
in the Business Services industry.
Industry Median: 5.935
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

UniFirst Net-Net Working Capital Historical Data

The historical data trend for UniFirst'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.

UniFirst Net-Net Working Capital Chart

UniFirst Annual Data
Trend Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only 12.99 14.57 12.51 -3.37 -0.30

UniFirst Quarterly Data
Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24
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 -3.37 -2.44 -2.52 -1.73 -0.30

Competitive Comparison of UniFirst's Net-Net Working Capital

For the Specialty Business Services subindustry, UniFirst'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.


UniFirst's Price-to-Net-Net-Working-Capital Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, UniFirst's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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



UniFirst Net-Net Working Capital Calculation

UniFirst's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Aug. 2024 is calculated as

Net-Net Working Capital(A: Aug. 2024 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(158.794+0.75 * 252.918+0.5 * 358.153-533.227
-0-0)/18.5909
=-0.30

UniFirst's Net-Net Working Capital (NNWC) per share for the quarter that ended in Aug. 2024 is calculated as

Net-Net Working Capital(Q: Aug. 2024 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(158.794+0.75 * 252.918+0.5 * 358.153-533.227
-0-0)/18.5909
=-0.30

* 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.


UniFirst  (FRA:U1N) 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.


UniFirst Net-Net Working Capital Related Terms

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UniFirst Business Description

Traded in Other Exchanges
Address
68 Jonspin Road, Wilmington, MA, USA, 01887
UniFirst Corp provides workplace uniforms, protective clothing, and other workplace products and services to businesses in the United States, Canada, and Europe. The U.S. and Canadian Rental and Cleaning segment that accounts for the majority of the company engages in sales rents and sells clothing and non-garment items, and offers a cleaning service that delivers clean uniforms when it picks up dirty or contaminated ones. Manufacturing segment designs and manufactures uniforms and non-garment items. Specialty garments rental and cleaning segment provides specialty garments, non-garments, and cleaning services for nuclear and classroom applications. The First Aid segment provides safety supplies and pill packaging. The Corporate segment consists of various associated costs.

UniFirst Headlines

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