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Top Standard (HKSE:08510) Net-Net Working Capital : HK$-0.07 (As of Dec. 2024)


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What is Top Standard 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.

Top Standard's Net-Net Working Capital for the quarter that ended in Dec. 2024 was HK$-0.07.

The industry rank for Top Standard's Net-Net Working Capital or its related term are showing as below:

HKSE:08510's Price-to-Net-Net-Working-Capital is not ranked *
in the Restaurants industry.
Industry Median: 14.155
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Top Standard Net-Net Working Capital Historical Data

The historical data trend for Top Standard'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.

Top Standard Net-Net Working Capital Chart

Top Standard Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Dec21 Dec22 Dec23 Dec24
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only -0.89 -0.15 -0.16 -0.11 -0.07

Top Standard Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Jun24 Dec24
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 -0.08 - -0.11 -0.13 -0.07

Competitive Comparison of Top Standard's Net-Net Working Capital

For the Restaurants subindustry, Top Standard'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.


Top Standard's Price-to-Net-Net-Working-Capital Distribution in the Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Top Standard's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Top Standard's Price-to-Net-Net-Working-Capital falls into.


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Top Standard Net-Net Working Capital Calculation

Top Standard'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 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(2.585+0.75 * 0.64+0.5 * 0.801-26.903
-0--8.964)/199.066
=-0.07

Top Standard'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 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(2.585+0.75 * 0.64+0.5 * 0.801-26.903
-0--8.964)/199.066
=-0.07

* 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.


Top Standard  (HKSE:08510) 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.


Top Standard Net-Net Working Capital Related Terms

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Top Standard Business Description

Traded in Other Exchanges
N/A
Address
87 Hung To Road, Unit 3C, 3rd Floor, Yue Xiu Industrial Building, Kwun Tong, Kowloon, Hong Kong, HKG
Top Standard Corp is an investment holding company. Along with its subsidiaries, it is engaged in operating restaurants and bars in Hong Kong and Southeast Asia, and online sales of wines. The group has two operating and reportable segments: catering service and online sales of wines. The majority of its revenue comes from food catering services, which include food and beverages served. Geographically, the group generates maximum revenue from Malaysia, and also has a presence in Hong Kong and Singapore.
Executives
Jss Group Corporation
Chuk Stanley
Lazarus Securities Pty Ltd
Axis Motion Limited 2101 Beneficial owner
Focus Dynamics Group Berhad
Lau Wing Kee 2201 Interest of corporation controlled by you

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