Tan Delta Systems (LSE:TAND) Net-Net Working Capital : £0.06 (As of Dec. 2023)

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What is Tan Delta Systems 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.

Tan Delta Systems's Net-Net Working Capital for the quarter that ended in Dec. 2023 was £0.06.

The industry rank for Tan Delta Systems's Net-Net Working Capital or its related term are showing as below:

LSE:TAND's Price-to-Net-Net-Working-Capital is ranked better than
74.35% of 191 companies
in the Oil & Gas industry
Industry Median: 5.55 vs LSE:TAND: 2.21

Tan Delta Systems Net-Net Working Capital Historical Data

The historical data trend for Tan Delta Systems'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.

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Tan Delta Systems Net-Net Working Capital Chart

Tan Delta Systems Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Net-Net Working Capital

0.06

Tan Delta Systems Semi-Annual Data
	Dec20	Dec21	Jun22	Dec22	Jun23	Dec23
Net-Net Working Capital	Get a 7-Day Free Trial			-	-	-	-0.01	0.06

Competitive Comparison of Tan Delta Systems's Net-Net Working Capital

For the Oil & Gas Equipment & Services subindustry, Tan Delta Systems'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.

Tan Delta Systems's Price-to-Net-Net-Working-Capital Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Tan Delta Systems's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Tan Delta Systems's Price-to-Net-Net-Working-Capital falls into.

Tan Delta Systems Net-Net Working Capital Calculation

Tan Delta Systems'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)
=	(4.555	+	0.75 * 0.144	+	0.5 * 0.365	-	0.565
-	0	-	0)	/	73.2238
=	0.06

Tan Delta Systems'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)
=	(4.555	+	0.75 * 0.144	+	0.5 * 0.365	-	0.565
-	0	-	0)	/	73.2238
=	0.06

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.

Tan Delta Systems (LSE:TAND) 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.

Tan Delta Systems Net-Net Working Capital Related Terms

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Tan Delta Systems (LSE:TAND) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

N/A

Address

Church Lane, 1 Carrera Court, Dinnington, Sheffield, GBR, S25 2RG

Website

https://www.tandeltasystems.com

Tan Delta Systems plc develops advanced real-time oil analysis and analytic technologies and products with unique capabilities that enable equipment operators to significantly reduce operating costs, improve efficiency and reduce carbon footprint. It develops all its core technologies and products in-house, with manufacturing undertaken by its carefully selected manufacturing partners with whom its dedicated production QA department works. The company operates on a global scale with customers ranging from the largest engine manufacturers to small single equipment operators, from North America and Australia to Chile, India, Russia and Finland. Its products include Sensors, Kits, Display solutions, Gateways & modems and Accessories & services.

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