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Robert Half (Robert Half) Net-Net Working Capital : $-0.43 (As of Dec. 2023)


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What is Robert Half 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.

Robert Half's Net-Net Working Capital for the quarter that ended in Dec. 2023 was $-0.43.

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

RHI's Price-to-Net-Net-Working-Capital is not ranked *
in the Business Services industry.
Industry Median: 6.25
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Robert Half Net-Net Working Capital Historical Data

The historical data trend for Robert Half'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.

Robert Half Net-Net Working Capital Chart

Robert Half Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.37 -2.14 -1.93 0.25 -0.43

Robert Half Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 0.25 -0.08 0.10 -0.05 -0.43

Competitive Comparison of Robert Half's Net-Net Working Capital

For the Staffing & Employment Services subindustry, Robert Half'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.


Robert Half's Price-to-Net-Net-Working-Capital Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Robert Half's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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



Robert Half Net-Net Working Capital Calculation

Robert Half's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2023 is calculated as

Net-Net Working Capital(A: Dec. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(731.74+0.75 * 860.872+0.5 * 0-1422.438
-0-0)/105.209
=-0.43

Robert Half's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2023 is calculated as

Net-Net Working Capital(Q: Dec. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(731.74+0.75 * 860.872+0.5 * 0-1422.438
-0-0)/105.209
=-0.43

* 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.


Robert Half  (NYSE:RHI) 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.


Robert Half Net-Net Working Capital Related Terms

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Robert Half (Robert Half) Business Description

Traded in Other Exchanges
Address
2884 Sand Hill Road, Suite 200, Menlo Park, CA, USA, 94025
Founded in 1948, Robert Half provides temporary, permanent, and outcome-based staffing for both in-person and remote positions in the finance and accounting, technology, legal, marketing, and administrative fields. Its subsidiary consulting arm, Protiviti, specializes in technology, risk, auditing, and compliance matters. The firm generates most of its sales inside the U.S. and stands as one of the largest specialized firms in the highly fragmented U.S. staffing industry. The firm generates annual revenue of around $7 billion.
Executives
Robert W Glass officer: Executive Vice President
Marc Morial director 142 IRVING AVENUE, S. ORANGE NJ 07079
Dirk A Kempthorne director 1735 MARKET STREET, PHILADELPHIA PA 19103
Joseph A Tarantino officer: President and CEO, Protiviti 2884 SAND HILL ROAD, SUITE 200, MENLO PARK CA 94025
Marnie Huss Wilking director 5611 E HILLERY DR, SCOTTSDALE AZ 85254
Paul F Gentzkow officer: President & CEO Staffing 2884 SAND HILL ROAD, SUITE 200, MENLO PARK CA 94025
Messmer Harold M Jr director, officer: Executive Chairman
Barbara J Novogradac director C/O ROBERT HALF INTERNATIONAL INC., 2884 SAND HILL ROAD, MENLO PARK CA 94025
Robert J Pace director C/O ROBERT HALF INTERNATIONAL INC., 2884 SAND HILL ROAD, MENLO PARK CA 94025
Julia Lynn Coronado director C/O DYNEX CAPITAL, INC., 4991 LAKE BROOK DRIVE, SUITE 100, GLEN ALLEN VA 23060
Frederick A Richman director C/O ROBERT HALF INTERNATIONAL INC., 2884 SAND HILL ROAD, MENLO PARK CA 94025
M Keith Waddell director, officer: Chief Executive Officer
Michael C Buckley officer: Executive Vice President & CFO C/O ROBERT HALF INTERNATIONAL INC, 5720 STONERIDGE DR STE 3, PLEASANTON CA 94588
Steven Karel officer: Vice President and Secretary 2884 SAND HILL ROAD, SUITE 200, MENLO PARK CA 94025
Edward W Gibbons director C/O JACK IN THE BOX INC, 9330 BALVOA AVE, SAN DIEGO CA 92123