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First State Financial (First State Financial) Net-Net Working Capital : $-0.01 (As of Dec. 2023)


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What is First State Financial 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.

First State Financial's Net-Net Working Capital for the quarter that ended in Dec. 2023 was $-0.01.

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

FSTF's Price-to-Net-Net-Working-Capital is not ranked *
in the Banks industry.
Industry Median: 7.615
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

First State Financial Net-Net Working Capital Historical Data

The historical data trend for First State Financial'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.

First State Financial Net-Net Working Capital Chart

First State Financial Annual Data
Trend Dec05 Dec06 Dec07 Dec08 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - - -0.01

First State Financial Quarterly Data
Dec06 Mar07 Jun07 Sep07 Dec07 Mar08 Jun08 Sep08 Dec08 Mar09 Dec18 Dec19 Dec20 Dec21 Jun22 Sep22 Dec22 Jun23 Sep23 Dec23
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 - - -0.02 -0.02 -0.01

Competitive Comparison of First State Financial's Net-Net Working Capital

For the Banks - Regional subindustry, First State Financial'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.


First State Financial's Price-to-Net-Net-Working-Capital Distribution in the Banks Industry

For the Banks industry and Financial Services sector, First State Financial's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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



First State Financial Net-Net Working Capital Calculation

First State Financial's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2023 is calculated as

Net-Net Working Capital(A: Dec. 2023 )
=(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)
=(0+0+0.75 * 0+0.5 * 0-0.084
-0-0)/5.9203
=-0.01

First State Financial's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2023 is calculated as

Net-Net Working Capital(Q: Dec. 2023 )
=(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)
=(0+0+0.75 * 0+0.5 * 0-0.084
-0-0)/5.9203
=-0.01

* 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.


First State Financial  (OTCPK:FSTF) 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.


First State Financial Net-Net Working Capital Related Terms

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First State Financial (First State Financial) Business Description

Traded in Other Exchanges
N/A
Address
55 E Washington Street, Chicago, IL, USA, 60602
First State Financial operates nine branches in Florida's Sarasota and Pinellas counties. This friendly community bank offers small-business and consumer banking products. With only $480 million in assets, First State competes with the giants of the industry in the crowded Florida banking market.
Executives
Robert Jr Shell director 22 S LINKS AVENUE, SARASOTA FL 34236
John E Wilkinson director, officer: President and CEO 22 S LINKS AVENUE, SUITE 100, SARASOTA FL 34236-5939
Dennis Grinsteiner officer: Senior Vice President and CFO 22 S LINKS AVENUE, SARASOTA FL 34236
Coughlin Corey director, officer: President and CEO 22 S LINKS AVENUE, SARASOTA FL 34236
Robert Beymer director 22 S LINKS AVENUE, SARASOTA FL 34236
Neal Scaggs director 22 S LINKS AVENUE, SARASOTA FL 34236
Daniel Harrington director 22 S LINKS AVENUE, SARASOTA FL 34236
Thomas Wright director 22 S LINKS AVENUE, SARASOTA FL 34236
Marshall Reynolds director 22 S LINKS AVENUE, SARASOTA FL 34236

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