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TEAF (Tortoise Essential Assetsome Term) Net-Net Working Capital : $-2.39 (As of Nov. 2024)


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What is Tortoise Essential Assetsome Term 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.

Tortoise Essential Assetsome Term's Net-Net Working Capital for the quarter that ended in Nov. 2024 was $-2.39.

The industry rank for Tortoise Essential Assetsome Term's Net-Net Working Capital or its related term are showing as below:

TEAF's Price-to-Net-Net-Working-Capital is not ranked *
in the Asset Management industry.
Industry Median: 7.1
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Tortoise Essential Assetsome Term Net-Net Working Capital Historical Data

The historical data trend for Tortoise Essential Assetsome Term'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.

Tortoise Essential Assetsome Term Net-Net Working Capital Chart

Tortoise Essential Assetsome Term Annual Data
Trend Nov19 Nov20 Nov21 Nov22 Nov23 Nov24
Net-Net Working Capital
Get a 7-Day Free Trial -2.38 -2.12 -2.25 -1.84 -2.39

Tortoise Essential Assetsome Term Semi-Annual Data
May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24
Net-Net Working Capital Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.25 -2.26 -1.84 -1.59 -2.39

Competitive Comparison of Tortoise Essential Assetsome Term's Net-Net Working Capital

For the Asset Management subindustry, Tortoise Essential Assetsome Term'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.


Tortoise Essential Assetsome Term's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Tortoise Essential Assetsome Term's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Tortoise Essential Assetsome Term's Price-to-Net-Net-Working-Capital falls into.


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Tortoise Essential Assetsome Term Net-Net Working Capital Calculation

Tortoise Essential Assetsome Term's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Nov. 2024 is calculated as

Net-Net Working Capital(A: Nov. 2024 )
=(Balance Sheet Cash And Cash Equivalents+Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(0.04+0+0.75 * 0+0.5 * 0-32.273
-0-0)/13.491
=-2.39

Tortoise Essential Assetsome Term's Net-Net Working Capital (NNWC) per share for the quarter that ended in Nov. 2024 is calculated as

Net-Net Working Capital(Q: Nov. 2024 )
=(Balance Sheet Cash And Cash Equivalents+Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(0.04+0+0.75 * 0+0.5 * 0-32.273
-0-0)/13.491
=-2.39

* 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.


Tortoise Essential Assetsome Term  (NYSE:TEAF) 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.


Tortoise Essential Assetsome Term Net-Net Working Capital Related Terms

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Tortoise Essential Assetsome Term Business Description

Traded in Other Exchanges
N/A
Address
5901 College Boulevard, Suite 400, Overland Park, KS, USA, 66211
Tortoise Essential Assets Income Term is a USA-based non-diversified, closed-end management investment company. Its investment objective is to provide common shareholders with a high level of total return with an emphasis on current distributions.
Executives
Ciccotello Conrad S director 5100 W. 115TH PLACE, LEAWOOD KS 66211
Katherine Moore officer: President, other: Member of Investment Committee 5100 W. 115TH PLACE, LEAWOOD KS 66211
Jennifer Paquette director 5100 W. 115TH PLACE, LEAWOOD KS 66211
H Kevin Birzer director, other: MEMBER, INVESTMENT COMMITTEE 5100 W. 115TH PLACE, LEAWOOD KS 66211
Alexandra Herger director 5100 W. 115TH PLACE, LEAWOOD KS 66211
P. Bradley Adams officer: CFO, PFO & TREASURER 5100 W. 115TH PLACE, LEAWOOD KS 66211
Rand C Berney director 11550 ASH STREET, SUITE 300, LEAWOOD KS 66211
Sean Paul Wickliffe officer: Vice President & Asst Treas. 6363 COLLEGE BOULEVARD, OVERLAND PARK KS 66211
Gregory Daniel Murphy other: Member of Investment Committee 6363 COLLEGE BOULEVARD, OVERLAND PARK KS 66211
Prashanth Prakash other: Member of Investment Committee 15 RIVER ROAD, WILTON CT 06897
Lamaze Jean-hugues De other: Member of Investment Committee C/O 5100 W. 115TH PLACE, LEAWOOD KS 66211
Maneesh Jhunjhunwala other: Member of Investment Committee 5100 W. 115TH PLACE, LEAWOOD KS 66211
Gary Paul Henson other: DIR.; MEMBER OF INV. COMM.^ 5100 W. 115TH PLACE, LEAWOOD KS 66211
Ryan Channell officer: Vice President 5100 W. 115TH PLACE, LEAWOOD KS 66211
Gengler Courtney officer: Vice President 5200 W. 115TH PLACE, LEAWOOD KS 66211

Tortoise Essential Assetsome Term Headlines

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