GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » FS Credit Opportunities Corp (NYSE:FSCO) » Definitions » Net-Net Working Capital

FSCO (FS Credit Opportunities) Net-Net Working Capital : $-3.62 (As of Dec. 2024)


View and export this data going back to 1990. Start your Free Trial

What is FS Credit Opportunities 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.

FS Credit Opportunities's Net-Net Working Capital for the quarter that ended in Dec. 2024 was $-3.62.

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

FSCO's Price-to-Net-Net-Working-Capital is not ranked *
in the Asset Management industry.
Industry Median: 6.65
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

FS Credit Opportunities Net-Net Working Capital Historical Data

The historical data trend for FS Credit Opportunities'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.

FS Credit Opportunities Net-Net Working Capital Chart

FS Credit Opportunities Annual Data
Trend Dec22 Dec23 Dec24
Net-Net Working Capital
-3.37 -3.06 -3.62

FS Credit Opportunities Semi-Annual Data
Dec22 Jun23 Dec23 Jun24 Dec24
Net-Net Working Capital -3.37 -3.03 -3.06 -3.13 -3.62

Competitive Comparison of FS Credit Opportunities's Net-Net Working Capital

For the Asset Management subindustry, FS Credit Opportunities'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.


FS Credit Opportunities's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, FS Credit Opportunities's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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


;
;

FS Credit Opportunities Net-Net Working Capital Calculation

FS Credit Opportunities's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2024 is calculated as

Net-Net Working Capital(A: Dec. 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)
=(189.344+0+0.75 * 0+0.5 * 0-907.939
-0-0)/198.356
=-3.62

FS Credit Opportunities's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2024 is calculated as

Net-Net Working Capital(Q: Dec. 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)
=(189.344+0+0.75 * 0+0.5 * 0-907.939
-0-0)/198.356
=-3.62

* 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.


FS Credit Opportunities  (NYSE:FSCO) 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.


FS Credit Opportunities Net-Net Working Capital Related Terms

Thank you for viewing the detailed overview of FS Credit Opportunities's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.


FS Credit Opportunities Business Description

Traded in Other Exchanges
N/A
Address
201 Rouse Boulevard, Philadelphia, PA, USA, 19112
FS Credit Opportunities Corp is a closed-end management investment company. The Fund's primary investment objective is to generate an attractive total return consisting of a high level of current income and capital appreciation, with a secondary objective of capital preservation. It predominantly invests in a portfolio of secured and unsecured floating and fixed-rate loans, bonds, and other types of credit instruments. The credit instruments in which it invests typically are rated below investment grade by rating agencies or would be rated below investment grade if rated. To achieve its investment objectives, the fund focuses on strategies such as Opportunistic Credit, Special Situations, and Capital Structure Solutions.
Executives
Keith Bethel director C/O ARAMARK, 2400 MARKET STREET, PHILADELPHIA PA 19103
Della Clark director 201 ROUSE BOULEVARD, PHILADELPHIA PA 19112
Michael C. Forman director, officer: Chief Executive Officer CIRA CENTRE, 2929 ARCH STREET, SUITE 675, PHILADELPHIA PA 19104-2867
Nix Robert N.c. Iii director C/O FS INVESTMENT CORPORATION III, CIRA CENTRE, 2929 ARCH STREET, SUITE 675, PHILADELPHIA PA 19104
Barbara J Fouss director C/O FS GLOBAL CREDIT OPPORTUNITIES FUND, CIRA CENTRE, 2929 ARCH STREET, SUITE 675, PHILADELPHIA PA 19104
Hughes Philip E Jr director 3936 NETHERFIELD ROAD, PHILADELPHIA PA 19129
Fsh Seed Capital Vehicle I Llc other: Investment Adviser Affiliate 201 ROUSE BOULEVARD, PHILADELPHIA PA 19112
Franklin Square Holdings, L.p. other: Investment Adviser Affiliate 201 ROUSE BOULEVARD, PHILADELPHIA PA 19112
David J. Adelman other: Investment Adviser Affiliate CIRA CENTRE, 2929 ARCH STREET, SUITE 675, PHILADELPHIA PA 19104-2867
Guardian Life Insurance Co Of America 10 percent owner 10 HUDSON YARDS, NY NY 10001
Gallivan Edward T Jr officer: Chief Financial Officer C/O FS ENERGY AND POWER FUND, CIRA CENTRE, 2929 ARCH STREET, SUITE 675, PHILADELPHIA PA 19104
Hans Nicholas Heilbut other: Investment Committee Member C/O FS INVESTMENTS, 201 ROUSE BOULEVARD, PHILADELPHIA PA 19112
Michael John Kelly other: Investment Committee Member 201 ROUSE BOULEVARD, PHILADELPHIA PA 19112
David Weiser other: Investment Committee Member 201 ROUSE BOULEVARD, PHILADELPHIA PA 19112
Andrew Beckman other: Investment Committee Member C/O FS INVESTMENTS, 201 ROUSE BOULEVARD, PHILADELPHIA PA 19112