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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.
Medley Management's Net-Net Working Capital for the quarter that ended in Dec. 2020 was $-10.36.
The industry rank for Medley Management's Net-Net Working Capital or its related term are showing as below:
MDLM's Price-to-Net-Net-Working-Capital is not ranked *
in the Asset Management industry.
Industry Median: 6.29 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Medley Management (OTCPK:MDLM) 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.
Medley Management Net-Net Working Capital Related Terms
Medley Management Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Medley Management'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.
MDLM vs EQS, AINC, PIAC: Net-Net Working Capital Comparison
For the Asset Management subindustry, Medley Management'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.
Medley Management Price-to-Net-Net-Working-Capital vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Medley Management's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Medley Management's Price-to-Net-Net-Working-Capital falls into.
* 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.
What does a Net-Net Working Capital of $-10.36 mean?
Medley Management (MDLM) has a Net-Net Working Capital of $-10.36 as of Dec. 2020. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Medley Management
Is Medley Management's Net-Net Working Capital too high?
Medley Management's current Net-Net Working Capital is $-10.36. Overall, Medley Management has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Medley Management's Net-Net Working Capital compare to EQS and AINC?
Medley Management's Net-Net Working Capital of $-10.36 can be compared against companies in the Asset Management industry. The industry median Net-Net Working Capital is 6.29. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for an Asset Management company?
The median Net-Net Working Capital among Asset Management companies is 6.29, based on 498 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Medley Management For the Asset Management industry, the median Net-Net Working Capital is 6.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Medley Management's current Net-Net Working Capital is $-10.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Medley Management stock overvalued right now?
Medley Management (MDLM) has a current Net-Net Working Capital of $-10.36. The current Net-Net Working Capital is $-10.36. Medley Management's overall GF Score™ is 12/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Medley Management (MDLM), the current Net-Net Working Capital is $-10.36 as of Dec. 2020. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Medley Management Inc is an asset management company providing services to retail and institutional investors. It provides credit-focused investment strategies through various funds and products that meet the needs of a wide range of retail and institutional investors. The company manages two permanent capital vehicles, both of which are business development companies, as well as long-dated private funds and separately managed accounts. The company focuses on credit-related investment strategies originating senior secured loans to private middle-market companies in the United States. The company recognizes the majority of its revenues through management fees.
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