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Cortina Holdings (SGX:C41) Net-Net Working Capital : S$0.02 (As of Mar. 2025)


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What is Cortina Holdings 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.

Cortina Holdings's Net-Net Working Capital for the quarter that ended in Mar. 2025 was S$0.02.

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

SGX:C41's Price-to-Net-Net-Working-Capital is ranked worse than
98.45% of 322 companies
in the Retail - Cyclical industry
Industry Median: 5.585 vs SGX:C41: 165.00

Cortina Holdings Net-Net Working Capital Historical Data

The historical data trend for Cortina 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.

* Premium members only.

Cortina Holdings Net-Net Working Capital Chart

Cortina Holdings Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.03 0.14 0.06 -0.16 0.02

Cortina Holdings Semi-Annual Data
Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25
Net-Net Working Capital Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.06 -0.14 -0.16 -0.19 0.02

Competitive Comparison of Cortina Holdings's Net-Net Working Capital

For the Luxury Goods subindustry, Cortina 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.


Cortina Holdings's Price-to-Net-Net-Working-Capital Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Cortina Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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


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Cortina Holdings Net-Net Working Capital Calculation

Cortina Holdings's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Mar. 2025 is calculated as

Net-Net Working Capital(A: Mar. 2025 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(132.359+0.75 * 17.099+0.5 * 346.805-294.905
-0-19.818)/165.578
=0.02

Cortina Holdings's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2025 is calculated as

Net-Net Working Capital(Q: Mar. 2025 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(132.359+0.75 * 17.099+0.5 * 346.805-294.905
-0-19.818)/165.578
=0.02

* 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.


Cortina Holdings  (SGX:C41) 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.


Cortina Holdings Net-Net Working Capital Related Terms

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Cortina Holdings Business Description

Traded in Other Exchanges
N/A
Address
391B Orchard Road, No. 18-01 Ngee Ann City Tower B, Singapore, SGP, 238874
Cortina Holdings Ltd is engaged in the retail and distribution of luxury watches. It operates in two segments, namely Retail and Wholesale. The retail segment, which derives the majority of revenue, involves in retailing of the timepiece, branded pens, and accessories. The wholesale segment is involved in the wholesale of timepieces and luxury branded accessories. Its brands include brands, such as Rolex, Patek Philippe, Cartier, Chopard, H. Moser & Cie, Parmigiani Fleurier, Omega, and more.

Cortina Holdings Headlines

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