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Unit (UNTC) Net-Net Working Capital : $2.19 (As of Mar. 2025)


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What is Unit 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.

Unit's Net-Net Working Capital for the quarter that ended in Mar. 2025 was $2.19.

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

UNTC's Price-to-Net-Net-Working-Capital is ranked worse than
71.92% of 203 companies
in the Oil & Gas industry
Industry Median: 5.59 vs UNTC: 12.79

Unit Net-Net Working Capital Historical Data

The historical data trend for Unit'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.

Unit Net-Net Working Capital Chart

Unit Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -34.58 -31.09 15.65 2.69 2.09

Unit Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 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 4.01 5.24 5.06 2.09 2.19

Competitive Comparison of Unit's Net-Net Working Capital

For the Oil & Gas Integrated subindustry, Unit'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.


Unit's Price-to-Net-Net-Working-Capital Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Unit's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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


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Unit Net-Net Working Capital Calculation

Unit's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2024 is calculated as

Net-Net Working Capital(A: Dec. 2024 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(48.884+0.75 * 37.554+0.5 * 0-56.722
-0-0)/9.748
=2.09

Unit'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)
=(49.676+0.75 * 35.292+0.5 * 0-54.559
-0-0)/9.854
=2.19

* 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.


Unit  (OTCPK:UNTC) 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.


Unit Net-Net Working Capital Related Terms

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


Unit Business Description

Industry
Traded in Other Exchanges
N/A
Address
8200 South Unit Drive, Tulsa, OK, USA, 74132
Unit Corp is an oil and natural gas contract drilling company. The company is also in exploration and production and mid-stream areas. There are two segments which include Oil and Natural gas and Contract Drilling. The oil and natural gas segment is engaged in the development, acquisition, and production of oil, NGLs, and natural gas properties. The contract drilling segment contracts to drill onshore oil and natural gas wells for a wide range of other oil and natural gas companies. Majority of the revenue is generated from the Contract Drilling segment.
Executives
Micheal L Hicks officer: President, Superior Pipeline 8200 S. UNIT DRIVE, TULSA OK 74132
Peyton G Bailey Iv director 8200 S. UNIT DRIVE, TULSA OK 74132
George L Austin officer: Sr. VP and CFO C/O CYPRESS ENERGY PARTNERS, L.P., 5727 S LEWIS AVENUE, SUITE 500, TULSA OK 74105
David P Dunham officer: Sr VP Business Development 8200 S. UNIT DRIVE, TULSA OK 74132
Frank Q Young officer: Executive Vice President, UPC 8200 S. UNIT DRIVE, TULSA OK 74132
Carla S Mashinski director 8200 S. UNIT DRIVE, TULSA OK 74132
Larry C Payne director 8200 S. UNIT DRIVE, TULSA OK 74132
Don A Hayes officer: Controller 8200 S. UNIT DRIVE, TULSA OK 74132
Steven B Hildebrand director 8200 S. UNIT DRIVE, TULSA OK 74132
Brad Guidry officer: Senior Vice President, UPC 8200 S. UNIT DRIVE, TULSA OK 74132
John Cromling officer: Executive Vice President, UDC 8200 S. UNIT DRIVE, TULSA OK 74132
Robert Parks officer: Manager, Superior Pipeline 8200 S. UNIT DRIVE, TULSA OK 74132
Sullivan Robert J Jr director 8200 S. UNIT DRIVE, TULSA OK 74132
Gary R Christopher director 8200 S. UNIT DRIVE, TULSA OK 74132
George Kaiser Family Foundation 10 percent owner 7030 SOUTH YALE AVENUE, SUITE 600, TULSA OK 74136