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Trony Solar Holdings Co (STU:6TO) Net-Net Working Capital : €-0.02 (As of Dec. 2017)


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What is Trony Solar Holdings Co 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.

Trony Solar Holdings Co's Net-Net Working Capital for the quarter that ended in Dec. 2017 was €-0.02.

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

STU:6TO's Price-to-Net-Net-Working-Capital is not ranked *
in the Semiconductors industry.
Industry Median: 7.96
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Trony Solar Holdings Co Net-Net Working Capital Historical Data

The historical data trend for Trony Solar Holdings Co'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.

Trony Solar Holdings Co Net-Net Working Capital Chart

Trony Solar Holdings Co Annual Data
Trend Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17
Net-Net Working Capital
Get a 7-Day Free Trial - -0.01 -0.01 -0.01 -0.02

Trony Solar Holdings Co Semi-Annual Data
Dec09 Jun10 Dec10 Jun11 Dec11 Jun12 Dec12 Jun13 Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17
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 -0.01 -0.01 -0.02 -0.02 -0.02

Competitive Comparison of Trony Solar Holdings Co's Net-Net Working Capital

For the Semiconductors subindustry, Trony Solar Holdings Co'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.


Trony Solar Holdings Co's Price-to-Net-Net-Working-Capital Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Trony Solar Holdings Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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


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Trony Solar Holdings Co Net-Net Working Capital Calculation

Trony Solar Holdings Co's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jun. 2017 is calculated as

Net-Net Working Capital(A: Jun. 2017 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(11.747+0.75 * 2.949+0.5 * 0.862-40.686
-0-0)/1584.683
=-0.02

Trony Solar Holdings Co's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2017 is calculated as

Net-Net Working Capital(Q: Dec. 2017 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(10.603+0.75 * 0.997+0.5 * 0.855-38.303
-0-0)/1584.683
=-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.


Trony Solar Holdings Co  (STU:6TO) 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.


Trony Solar Holdings Co Net-Net Working Capital Related Terms

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Trony Solar Holdings Co Business Description

Traded in Other Exchanges
N/A
Address
Keyuan Road, Middle District of Science Park, Room 1403, Building A4, Kexing Science Park, Nanshan District, Shenzhen, CHN, 518048
Trony Solar Holdings Co Ltd is engaged in the manufacture of semiconductors and related devices. It is also involved in the manufacture and sale of solar products. The company operates its business through two segments: The Manufacture and Sale of Solar Products segment and Construction of Photovoltaic Cells segment. The company products include standard modules, integrated kits, building integrated photovoltaics, and embedded modules. The Manufacture and Sale of Solar Products segment contribute majorly towards firm's revenue. Most of the firm's revenue gets derived from China.

Trony Solar Holdings Co Headlines

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