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South Shore Holdings (HKSE:00577) Net-Net Working Capital : HK$-10.25 (As of Sep. 2020)


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What is South Shore 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.

South Shore Holdings's Net-Net Working Capital for the quarter that ended in Sep. 2020 was HK$-10.25.

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

HKSE:00577's Price-to-Net-Net-Working-Capital is not ranked *
in the Construction industry.
Industry Median: 5.37
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

South Shore Holdings Net-Net Working Capital Historical Data

The historical data trend for South Shore 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.

* Premium members only.

South Shore Holdings Net-Net Working Capital Chart

South Shore Holdings Annual Data
Trend Mar11 Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -25.27 -30.01 -7.16 -8.31 -9.57

South Shore Holdings Semi-Annual Data
Mar11 Sep11 Mar12 Sep12 Mar13 Sep13 Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20
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 -8.23 -8.31 -9.02 -9.57 -10.25

Competitive Comparison of South Shore Holdings's Net-Net Working Capital

For the Engineering & Construction subindustry, South Shore 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.


South Shore Holdings's Price-to-Net-Net-Working-Capital Distribution in the Construction Industry

For the Construction industry and Industrials sector, South Shore Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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



South Shore Holdings Net-Net Working Capital Calculation

South Shore Holdings's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Mar. 2020 is calculated as

Net-Net Working Capital(A: Mar. 2020 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(433.527+0.75 * 475.511+0.5 * 22.012-10274.299
-0-223.854)/1012.95
=-9.57

South Shore Holdings's Net-Net Working Capital (NNWC) per share for the quarter that ended in Sep. 2020 is calculated as

Net-Net Working Capital(Q: Sep. 2020 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(797.434+0.75 * 650.72+0.5 * 21.593-11497.576
-0-181.469)/1012.95
=-10.25

* 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.


South Shore Holdings  (HKSE:00577) 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.


South Shore Holdings Net-Net Working Capital Related Terms

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South Shore Holdings (HKSE:00577) Business Description

Traded in Other Exchanges
N/A
Address
250 Hennessy Road, 33rd Floor, 250 Hennessy, Wanchai, Hong Kong, HKG
South Shore Holdings Ltd is an investment holding company. The company's operating segment include Management contracting; Property development management; Property investment and Hotel operation. It generates maximum revenue from the Management contracting segment. Management contracting segment is engaged in the building construction and civil engineering. Geographically, it derives a majority of revenue from Hong Kong and also has a presence in Macau, PRC and Singapore and Malaysia.
Executives
Evolution Capital Management, Llc 2201 Interest of corporation controlled by you
Tiger Inn Enterprises Limited 2201 Interest of corporation controlled by you
Tiger Holdings Ltd. 2201 Interest of corporation controlled by you
Evolution Japan Group Holding Inc. 2201 Interest of corporation controlled by you
Evolution Japan Co. Ltd. 2201 Interest of corporation controlled by you
Evo Fund 2104 Agent
Evo Capital Management Asia Limited 2201 Interest of corporation controlled by you
Ej Us, Inc. 2201 Interest of corporation controlled by you
Evolution Japan Asset Management Co., Ltd. 2201 Interest of corporation controlled by you
Global Allocation Fund 2201 Interest of corporation controlled by you
Lerch Michael 2201 Interest of corporation controlled by you
Robertson Julian Hart 2201 Interest of corporation controlled by you
Tiger Management Corporation 2201 Interest of corporation controlled by you
Tiger Management L.l.c. 2102 Investment manager
Tiger Partners Gp, L.l.c. 2201 Interest of corporation controlled by you

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