Reef Casino Trust (Reef Casino Trust) Net-Net Working Capital : $-1.10 (As of Dec. 2023)

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What is Reef Casino Trust 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.

Reef Casino Trust's Net-Net Working Capital for the quarter that ended in Dec. 2023 was $-1.10.

The industry rank for Reef Casino Trust's Net-Net Working Capital or its related term are showing as below:

RCTUF's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Travel & Leisure industry.
Industry Median: 8.28
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Reef Casino Trust Net-Net Working Capital Historical Data

The historical data trend for Reef Casino Trust'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.

Reef Casino Trust Net-Net Working Capital Chart

Reef Casino Trust Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Net-Net Working Capital

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-1.18

-1.29

-1.15

-1.05

-1.10

Reef Casino Trust Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Net-Net Working Capital	Get a 7-Day Free Trial															-1.15	-1.15	-1.05	-1.12	-1.10

Competitive Comparison of Reef Casino Trust's Net-Net Working Capital

For the Resorts & Casinos subindustry, Reef Casino Trust'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.

Reef Casino Trust's Price-to-Net-Net-Working-Capital Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Reef Casino Trust's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Reef Casino Trust's Price-to-Net-Net-Working-Capital falls into.

Reef Casino Trust Net-Net Working Capital Calculation

Reef Casino Trust'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)
=	(4.916	+	0.75 * 1.571	+	0.5 * 0	-	60.939
-	0	-	0)	/	49.801
=	-1.10

Reef Casino Trust'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)
=	(4.916	+	0.75 * 1.571	+	0.5 * 0	-	60.939
-	0	-	0)	/	49.801
=	-1.10

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.

Reef Casino Trust (OTCPK:RCTUF) 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.

Reef Casino Trust Net-Net Working Capital Related Terms

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Reef Casino Trust (Reef Casino Trust) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Reef Casino Trust (OTCPK:RCTUF) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

RCT:Australia

Address

Level 3, 249 Turbot Street, Sofitel Hotel, Brisbane, QLD, AUS, 4000

Website

https://www.reefcasino.com.au

Reef Casino Trust is engaged in the operation of the reef hotel-casino complex located in Cairns, Queensland, Australia. The company derives revenue from the casino which includes electronic gaming and table games, and hotel which includes room accommodation and food and beverage. The majority of the revenue is generated from the rental income received from the casino operations.