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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.
NTELOS Holdings's Net-Net Working Capital for the quarter that ended in Dec. 2015 was $-25.35.
The industry rank for NTELOS Holdings's Net-Net Working Capital or its related term are showing as below:
The historical data trend for NTELOS Holdings'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.
NTELOS Holdings Annual Data | |||||||||||||||||||||
Trend | Dec06 | Dec07 | Dec08 | Dec09 | Dec10 | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | |||||||||||
Net-Net Working Capital | Get a 7-Day Free Trial | -23.24 | -24.28 | -25.30 | -26.50 | -25.35 |
NTELOS Holdings Quarterly Data | ||||||||||||||||||||
Mar11 | Jun11 | Sep11 | Dec11 | Mar12 | Jun12 | Sep12 | Dec12 | Mar13 | Jun13 | Sep13 | Dec13 | Mar14 | Jun14 | Sep14 | Dec14 | Mar15 | Jun15 | Sep15 | Dec15 | |
Net-Net Working Capital | Get a 7-Day Free Trial | -26.50 | -25.93 | -23.56 | -24.15 | -25.35 |
For the Telecom Services subindustry, NTELOS Holdings'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.
For the Telecommunication Services industry and Communication Services sector, NTELOS Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where NTELOS Holdings's Price-to-Net-Net-Working-Capital falls into.
NTELOS Holdings's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2015 is calculated as
Net-Net Working Capital | (A: Dec. 2015 ) | ||||||
= | (Cash, Cash Equivalents, Marketable Securities | + | 0.75 * Accounts Receivable | + | 0.5 * Total Inventories | - | Total Liabilities |
- | Preferred Stock | - | Minority Interest) | / | Shares Outstanding (EOP) | ||
= | (72.687 | + | 0.75 * 53.021 | + | 0.5 * 13.345 | - | 682.015 |
- | 0 | - | 1.572) | / | 22.264 | ||
= | -25.35 |
NTELOS Holdings's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2015 is calculated as
Net-Net Working Capital | (Q: Dec. 2015 ) | ||||||
= | (Cash, Cash Equivalents, Marketable Securities | + | 0.75 * Accounts Receivable | + | 0.5 * Total Inventories | - | Total Liabilities |
- | Preferred Stock | - | Minority Interest) | / | Shares Outstanding (EOP) | ||
= | (72.687 | + | 0.75 * 53.021 | + | 0.5 * 13.345 | - | 682.015 |
- | 0 | - | 1.572) | / | 22.264 | ||
= | -25.35 |
* 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.
NTELOS Holdings (NAS:NTLS) 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.
Thank you for viewing the detailed overview of NTELOS Holdings's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.
Daniel Heneghan | director | |
Rodney D Dir | director, officer: Chief Executive Officer | C/O NTELOS HOLDINGS CORP., 1154 SHENANDOAH VILLAGE DRIVE, WAYNESBORO VA 22980 |
Quadrangle Select Partners Ii L P | 10 percent owner | 375 PARK AVE, NEW YORK NY 10152 |
Quadrangle Capital Partners Ii-a L P | 10 percent owner | 375 PARK AVE, NEW YORK NY 10152 |
Quadrangle Gp Investors Ii Lp | 10 percent owner | C/O QUADRANGLE GROUP LLC, 375 PARK AVENUE, NEW YORK NY 10152 |
Qcp Gp Investors Ii Llc | 10 percent owner | C/O QUADRANGLE GROUP LLC, 1271 AVENUE OF THE AMERICAS, SUITE 43A, NEW YORK NY 10020 |
Hunter Conrad | officer: EVP, Chief Operating Officer | 1901 N. ROSELLE ROAD, SUITE 500, SCHAUMBURG IL 60195 |
Alfheidur Saemundsson | director | C/O DAVIS POLK & WARDWELL LLP, 450 LEXINGTON AVE, NEW YORK NY 10017 |
Jerry Elliott | director | |
Robert E Guth | director | 750 THIRD AVENUE NEW YORK NY 10017 |
Jerry E Vaughn | director | US UNWIRED INC 901 LAKESHORE DRIVE LAKE CHARLES LA 70601 |
Julia B North | director | 1170 PEACHTREE STR NE, SUITE 2300, ATLANTA GA 30309 |
Citigroup Inc | director | 388 GREENWICH STREET, NEW YORK NY 10013 |
Citicorp Banking Corp | director | ONE PENNS WAY, NEW CASTLE DE 19720 |
Court Square Capital Ltd | director | 399 PARK AVE, NEW YORK NY 10043 |
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