BT Group (STU:BTQ) Net-Net Working Capital : €-3.85 (As of Sep. 2023)

View and export this data going back to 2009. Start your Free Trial

What is BT Group 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.

BT Group's Net-Net Working Capital for the quarter that ended in Sep. 2023 was €-3.85.

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

STU:BTQ's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Telecommunication Services industry.
Industry Median: 7.65
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

BT Group Net-Net Working Capital Historical Data

The historical data trend for BT Group'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.

BT Group Net-Net Working Capital Chart

BT Group Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Net-Net Working Capital

Get a 7-Day Free Trial

-3.50

-3.46

-3.95

-3.60

-3.79

BT Group Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Net-Net Working Capital	Get a 7-Day Free Trial															-3.91	-3.60	-3.70	-3.79	-3.85

Competitive Comparison of BT Group's Net-Net Working Capital

For the Telecom Services subindustry, BT Group'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.

BT Group's Price-to-Net-Net-Working-Capital Distribution in the Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, BT Group's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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

BT Group Net-Net Working Capital Calculation

BT Group's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Mar. 2023 is calculated as

	Net-Net Working Capital		(A: Mar. 2023 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(4317.483	+	0.75 * 1581.226	+	0.5 * 395.59	-	43342.587
-	0	-	0)	/	9931.94
=	-3.79

BT Group's Net-Net Working Capital (NNWC) per share for the quarter that ended in Sep. 2023 is calculated as

	Net-Net Working Capital		(Q: Sep. 2023 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(4456.548	+	0.75 * 4119.089	+	0.5 * 468.5	-	46105.502
-	0	-	0)	/	9943.31
=	-3.85

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.

BT Group (STU:BTQ) 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.

BT Group Net-Net Working Capital Related Terms

Thank you for viewing the detailed overview of BT Group's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.

BT Group (STU:BTQ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Telecommunication Services » BT Group PLC (STU:BTQ) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

BTGOF:USA BTl:UK BT.A:UK

Address

1 Braham Street, London, GBR, E1 8EE

Website

https://www.bt.com

BT Group is the incumbent telecommunications operator in the U.K. It is the owner of Openreach, the largest fixed-line network in the U.K. Openreach operates as a separate entity due to regulatory requirements but is still 100% owned by BT. Since 2020, Openreach has accelerated its fiber investments and expects to have 90% of the U.K. covered with FTTH by 2026. In the consumer division, BT has approximately 30% market share in broadband and mobile services. The enterprise segment serves large corporations while the global services division provides communications consultancy services.