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Xcorporeal (Xcorporeal) Net-Net Working Capital : $-0.25 (As of Sep. 2009)


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What is Xcorporeal 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.

Xcorporeal's Net-Net Working Capital for the quarter that ended in Sep. 2009 was $-0.25.

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

XCRP's Price-to-Net-Net-Working-Capital is not ranked *
in the Medical Devices & Instruments industry.
Industry Median: 6.32
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Xcorporeal Net-Net Working Capital Historical Data

The historical data trend for Xcorporeal'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.

Xcorporeal Net-Net Working Capital Chart

Xcorporeal Annual Data
Trend Feb99 Feb00 Dec01 Dec02 Dec03 Dec04 Dec05 Dec06 Dec07 Dec08
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -5.15 -5.53 24.21 1.01 -0.21

Xcorporeal Quarterly Data
Dec04 Mar05 Jun05 Sep05 Dec05 Mar06 Jun06 Sep06 Dec06 Mar07 Jun07 Sep07 Dec07 Mar08 Jun08 Sep08 Dec08 Mar09 Jun09 Sep09
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 -0.24 -0.21 -0.19 -0.21 -0.25

Competitive Comparison of Xcorporeal's Net-Net Working Capital

For the Medical Devices subindustry, Xcorporeal'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.


Xcorporeal's Price-to-Net-Net-Working-Capital Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Xcorporeal's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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



Xcorporeal Net-Net Working Capital Calculation

Xcorporeal's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2008 is calculated as

Net-Net Working Capital(A: Dec. 2008 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(3.363+0.75 * 0+0.5 * 0-6.388
-0-0)/14.7547
=-0.21

Xcorporeal's Net-Net Working Capital (NNWC) per share for the quarter that ended in Sep. 2009 is calculated as

Net-Net Working Capital(Q: Sep. 2009 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(0.324+0.75 * 0+0.5 * 0-4.127
-0-0)/15.1547
=-0.25

* 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.


Xcorporeal  (GREY:XCRP) 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.


Xcorporeal Net-Net Working Capital Related Terms

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Xcorporeal (Xcorporeal) Business Description

Traded in Other Exchanges
N/A
Address
80 Empire Drive, Lake Forest, CA, USA, 92630
Website
Xcorporeal Inc is a medical device company, developing an innovative extra-corporeal platform technology to be used in devices to replace the function of various human organs.
Executives
Kelly J. Mccrann director, officer: Chairman and CEO 11150 SANTA MONICA BLVD #1500, LOS ANGELES CA 90025
Daniel S Goldberger officer: Chief Executive Officer 24 CARPENTER ROAD, CHESTER NY 10918
Marc G Cummins director C/O PRIME LOGIC CAPITAL, LLC, 135 EAST 57TH STREET, 11TH FLOOR, NEW YORK NY 10022
Prime Logic Capital, Llc 10 percent owner 135 EAST 57TH STREET, 11TH FLOOR, NEW YORK NY 10022
Robert Weinstein officer: Chief Financial Officer 3960 HOWARD HUGHES PARKWAY, SUITE 500, LAS VEGAS NV 89169
Terren S Peizer director, 10 percent owner, officer: Executive Chairman 11111 SANTA MONICABLVD STE.500, LOS ANGELES CA 90025
Jay Wolf director 981 LINDA FLORA DRIVE, LOS ANGELES, CA 90049
Herve De Kergrohen director 22 CHEMIN DU NANTET, COLLONGE-BELLERIVE V8 CH1245
Nicholas Sheridan Lewin director 3 WEST 57TH ST., 8TH FLOOR, NEW YORK NY 10019
Lawrence Lacerte 10 percent owner C/O TERAGLOBAL COMMUNICATIONS CORP, 9171 TOWNE CENTRE DRIVE SUITE 600, SAN DIEGO CA 92122

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