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InSite Vision (InSite Vision) Net-Net Working Capital : $-0.13 (As of Jun. 2015)


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What is InSite Vision 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.

InSite Vision's Net-Net Working Capital for the quarter that ended in Jun. 2015 was $-0.13.

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

INSV's Price-to-Net-Net-Working-Capital is not ranked *
in the Drug Manufacturers industry.
Industry Median: 7.77
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

InSite Vision Net-Net Working Capital Historical Data

The historical data trend for InSite Vision'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.

InSite Vision Net-Net Working Capital Chart

InSite Vision Annual Data
Trend Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -0.49 -0.29 -0.35 -0.31 -0.08

InSite Vision Quarterly Data
Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15
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 -0.03 -0.05 -0.08 -0.08 -0.13

Competitive Comparison of InSite Vision's Net-Net Working Capital

For the Drug Manufacturers - Specialty & Generic subindustry, InSite Vision'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.


InSite Vision's Price-to-Net-Net-Working-Capital Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, InSite Vision's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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



InSite Vision Net-Net Working Capital Calculation

InSite Vision's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2014 is calculated as

Net-Net Working Capital(A: Dec. 2014 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(1.656+0.75 * 0.349+0.5 * 0-12.407
-0-0)/131.951
=-0.08

InSite Vision's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jun. 2015 is calculated as

Net-Net Working Capital(Q: Jun. 2015 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(1.755+0.75 * 0.357+0.5 * 0-19.267
-0-0)/131.951
=-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.


InSite Vision  (OTCPK:INSV) 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.


InSite Vision Net-Net Working Capital Related Terms

Thank you for viewing the detailed overview of InSite Vision's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.


InSite Vision (InSite Vision) Business Description

Traded in Other Exchanges
N/A
Address
InSite Vision Inc was incorporated in 1986 as a California Corporation and reincorporated in Delaware in 1987. The Company is an ophthalmic product development company committed to advancing ophthalmic pharmaceutical products to address unmet eye care needs. The Company completed its initial public offering on October 18, 1993. The Company's current portfolio of ophthalmic pharmaceutical products is based on its proprietary DuraSite drug delivery technology. The Company's DuraSite sustained drug delivery technology is a proven, patented synthetic polymer-based formulation designed to extend the residence time of a drug relative to conventional topical therapies. It enables topical delivery of a solution, gel or suspension and could be customized for delivering a variety of potential drug candidates. The Company has focused its research, development and commercial support efforts on the following topical products formulated with its DuraSite drug delivery technology. AzaSite or azithromycin ophthalmic solution 1% is a DuraSite formulation of azithromycin developed as a broad spectrum ocular antibiotic and approved by the U.S. Food and Drug Administration in April 2007 to treat bacterial conjunctivitis. Additional indications are being pursued by Inspire Pharmaceuticals for this product. AzaSite was commercially launched in the United States by Inspire Pharmaceuticals in August 2007. DexaSite is a DuraSite formulation of dexamethasone in development for the treatment of ocular inflammation. In November 2011, it initiated a Phase 3 clinical trial for this product candidate in blepharitis and completed patient enrollment in the clinical trial in September 2012. BromSite is a DuraSite formulation of bromfenac in development for the prevention of post-operative inflammation and eye pain. It initiated a Phase 1/2 clinical trial for this product candidate in August 2010 and received positive top-line results from this study in the first quarter of 2011, which demonstrated the efficacy and safety of BromSite. DuraSite 2 is a next-generation enhanced drug delivery system, which is designed to provide a broad platform for developing superior ophthalmic therapeutics. DuraSite 2 is based on the original DuraSite technology, and incorporates a cationic polymer to achieve sustained and enhanced ocular delivery of drugs. ISV-101 is a DuraSite formulation with a low concentration of bromfenac for the treatment of dry eye disease. The Company is subject to regulation by numerous governmental authorities in the United States and other countries.
Executives
Louis Drapeau officer: Vice President and CFO C/O BIOMARIN PHARMACEUTICAL INC., 371 BEL MARIN KEYS BLVD., SUITE 210, NOVATO CA 94949
Brian Levy director
Anthony J Yost director C/O INSITE VISION, INC., 965 ATLANTIC AVENUE, ALAMEDA CA 94501
Timothy Mcinerney director
Craig A Tooman director
Coliseum Capital Management, Llc 10 percent owner 105 ROWAYTON AVENUE, ROWAYTON CT 06853
Timothy P Lynch director 919 NW BOND STREET, SUITE 204, BEND OR 97703
Rick D Anderson director 3600 N CAPITAL OF TEXAS HWY, SUITE B180, AUSTIN TX 78746
Jon S Saxe director FIRST HORIZON PHARMACEUTICAL CORP, 660 HEMBREE PKWY STE 106, ROSWELL GA 30076
Francis Wen-hou Chen director 1821 JONES STREET, SAN FRANCISCO CA 94109
Pinto Tv Gp Co Llc 10 percent owner 3600 N CAPITAL OF TEXAS HWY, SUITE B180, AUSTIN TX 78746
Matthew S Crawford 10 percent owner 3600 N CAPITAL OF TEXAS HWY, SUITE B180, AUSTIN TX 78746
Pfizer Inc 10 percent owner 66 HUDSON BOULEVARD EAST, NEW YORK NY 10001-2192

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