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Greentown Service Group Co (HKSE:02869) Net-Net Working Capital : HK$-0.13 (As of Dec. 2023)


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What is Greentown Service Group Co 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.

Greentown Service Group Co's Net-Net Working Capital for the quarter that ended in Dec. 2023 was HK$-0.13.

The industry rank for Greentown Service Group Co's Net-Net Working Capital or its related term are showing as below:

HKSE:02869's Price-to-Net-Net-Working-Capital is not ranked *
in the Real Estate industry.
Industry Median: 4.47
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Greentown Service Group Co Net-Net Working Capital Historical Data

The historical data trend for Greentown Service Group Co'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.

Greentown Service Group Co Net-Net Working Capital Chart

Greentown Service Group Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -0.83 0.42 0.10 -0.19 -0.13

Greentown Service Group Co Semi-Annual Data
Dec13 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 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 0.10 -0.23 -0.19 -0.68 -0.13

Competitive Comparison of Greentown Service Group Co's Net-Net Working Capital

For the Real Estate Services subindustry, Greentown Service Group Co'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.


Greentown Service Group Co's Price-to-Net-Net-Working-Capital Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Greentown Service Group Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Greentown Service Group Co's Price-to-Net-Net-Working-Capital falls into.



Greentown Service Group Co Net-Net Working Capital Calculation

Greentown Service Group Co'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 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(6760.659+0.75 * 5517.932+0.5 * 736.976-10780.793
-0-896.537)/3194.11
=-0.13

Greentown Service Group Co'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 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(6760.659+0.75 * 5517.932+0.5 * 736.976-10780.793
-0-896.537)/3194.11
=-0.13

* 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.


Greentown Service Group Co  (HKSE:02869) 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.


Greentown Service Group Co Net-Net Working Capital Related Terms

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Greentown Service Group Co (HKSE:02869) Business Description

Traded in Other Exchanges
N/A
Address
No.767 West Wenyi Road, Block B, Xixi International Business Center, Zhejiang Province, Hangzhou, CHN
Greentown Service Group, or GSG, is the sister company of property developer Greentown China. GSG is one of the first China property management firms listed in Hong Kong since July 2016. Headquartered in Hangzhou, GSG is a leading service provider in the Yangtze River Delta focusing on high-end residential properties, with core property management contributing to more than 60% of GSG's revenue. Other key earnings contributors include community value added services and project consultancy services to developers. The founding shareholders, who also control Greentown China, collectively own over a 40% stake in GSG in 2022. China property developer Longfor Group holds around 9% equity interest in GSG.
Executives
Lily International Investment Company Limited
Orchid Garden Investment Company Limited
Osmanthus Garden Investment Company Limited
Shenalan International Investment Company Limited
Ju Jianhua
Li Hairong
Lilac International Investment Company Limited
Song Weiping
Xia Yibo
Shou Bainian
Yiheng Capital, Llc
Longfor Group Holdings Ltd

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