Valtecne SpA (MIL:VLT) Net-Net Working Capital : €0.69 (As of Jun. 2024)

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What is Valtecne SpA 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.

Valtecne SpA's Net-Net Working Capital for the quarter that ended in Jun. 2024 was €0.69.

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

MIL:VLT's Price-to-Net-Net-Working-Capital is ranked worse than
54.21% of 1295 companies
in the Industrial Products industry
Industry Median: 8.2 vs MIL:VLT: 9.49

Valtecne SpA Net-Net Working Capital Historical Data

The historical data trend for Valtecne SpA'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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Valtecne SpA Net-Net Working Capital Chart

Valtecne SpA Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Dec24

Net-Net Working Capital

-0.06

-0.73

-1.06

0.13

Valtecne SpA Semi-Annual Data
	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24
Net-Net Working Capital	Get a 7-Day Free Trial				-1.06	0.11	0.13	0.69	-

Competitive Comparison of Valtecne SpA's Net-Net Working Capital

For the Specialty Industrial Machinery subindustry, Valtecne SpA'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.

Valtecne SpA's Price-to-Net-Net-Working-Capital Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Valtecne SpA's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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

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Valtecne SpA Net-Net Working Capital Calculation

Valtecne SpA'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)
=	(7.393	+	0.75 * 8.726	+	0.5 * 11.516	-	18.931
-	0	-	0)	/	6.110
=	0.13

Valtecne SpA's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jun. 2024 is calculated as

	Net-Net Working Capital		(Q: Jun. 2024 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(9.454	+	0.75 * 8.224	+	0.5 * 9.293	-	16.059
-	0	-	0)	/	6.110
=	0.69

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.

Valtecne SpA (MIL:VLT) 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.

Valtecne SpA Net-Net Working Capital Related Terms

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