Midea Real Estate Holding (HKSE:03990) Net-Net Working Capital : HK$-82.61 (As of Dec. 2023)

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What is Midea Real Estate Holding 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.

Midea Real Estate Holding's Net-Net Working Capital for the quarter that ended in Dec. 2023 was HK$-82.61.

The industry rank for Midea Real Estate Holding's Net-Net Working Capital or its related term are showing as below:

HKSE:03990's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Real Estate industry.
Industry Median: 4.455
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Midea Real Estate Holding Net-Net Working Capital Historical Data

The historical data trend for Midea Real Estate Holding'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.

Midea Real Estate Holding Net-Net Working Capital Chart

Midea Real Estate Holding Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Net-Net Working Capital

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-119.59

-154.77

-156.00

-110.98

-82.61

Midea Real Estate Holding Semi-Annual Data
	Dec15	Dec16	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Net-Net Working Capital	Get a 7-Day Free Trial										-156.00	-148.12	-110.98	-102.47	-82.61

Competitive Comparison of Midea Real Estate Holding's Net-Net Working Capital

For the Real Estate Services subindustry, Midea Real Estate Holding'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.

Midea Real Estate Holding's Price-to-Net-Net-Working-Capital Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Midea Real Estate Holding's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Midea Real Estate Holding's Price-to-Net-Net-Working-Capital falls into.

Midea Real Estate Holding Net-Net Working Capital Calculation

Midea Real Estate Holding'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)
=	(19308.556	+	0.75 * 1849.266	+	0.5 * 107063.8	-	165664.251
-	0	-	27136.034)	/	1435.41
=	-82.61

Midea Real Estate Holding'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)
=	(19308.556	+	0.75 * 1849.266	+	0.5 * 107063.8	-	165664.251
-	0	-	27136.034)	/	1435.41
=	-82.61

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.

Midea Real Estate Holding (HKSE:03990) 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.

Midea Real Estate Holding Net-Net Working Capital Related Terms

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Midea Real Estate Holding (HKSE:03990) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Midea Real Estate Holding Ltd (HKSE:03990) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

MR9:Germany

Address

No.1 Chengde Road, 34th Floor, Tower 4, Midea Real Estate Plaza, Shunde District, Guangdong Province, Foshan, CHN, 528311

Website

https://www.mideadc.com

Midea Real Estate Holding Ltd is a real estate development company that offers real estate services. It operates through three principal business segments: Property development and sales; Property management services; and Investment and operation of commercial properties. Property development and sales generates most of the revenue.

Executives

He Jianfeng	2202 Interest of your spouse
He Xiangjian	2103 Interests held jointly with another person
Midea Development Holding (bvi) Limited	2101 Beneficial owner
Lu Deyan	2201 Interest of corporation controlled by you
Ya Ge Er Ji Tuan Gu Fen You Xian Gong Si	2101 Beneficial owner

Midea Real Estate Holding (HKSE:03990) Headlines

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