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Belle International Holdings (Belle International Holdings) Net-Net Working Capital : $0.87 (As of Feb. 2017)


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What is Belle International Holdings 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.

Belle International Holdings's Net-Net Working Capital for the quarter that ended in Feb. 2017 was $0.87.

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

BELLY's Price-to-Net-Net-Working-Capital is not ranked *
in the Manufacturing - Apparel & Accessories industry.
Industry Median: 5.54
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Belle International Holdings Net-Net Working Capital Historical Data

The historical data trend for Belle International Holdings'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.

Belle International Holdings Net-Net Working Capital Chart

Belle International Holdings Annual Data
Trend Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Feb14 Feb15 Feb16 Feb17
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.54 1.79 1.43 1.53 0.87

Belle International Holdings Semi-Annual Data
Dec06 Dec07 Dec08 Jun09 Dec09 Jun10 Dec10 Jun11 Dec11 Jun12 Dec12 Jun13 Dec13 Aug14 Feb15 Aug15 Feb16 Aug16 Feb17
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 1.43 1.34 1.53 1.00 0.87

Competitive Comparison of Belle International Holdings's Net-Net Working Capital

For the Footwear & Accessories subindustry, Belle International Holdings'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.


Belle International Holdings's Price-to-Net-Net-Working-Capital Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Belle International Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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



Belle International Holdings Net-Net Working Capital Calculation

Belle International Holdings's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Feb. 2017 is calculated as

Net-Net Working Capital(A: Feb. 2017 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(522.593+0.75 * 535.622+0.5 * 1146.665-745.626
-0-21.763)/843.423
=0.87

Belle International Holdings's Net-Net Working Capital (NNWC) per share for the quarter that ended in Feb. 2017 is calculated as

Net-Net Working Capital(Q: Feb. 2017 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(522.593+0.75 * 535.622+0.5 * 1146.665-745.626
-0-21.763)/843.423
=0.87

* 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.


Belle International Holdings  (OTCPK:BELLY) 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.


Belle International Holdings Net-Net Working Capital Related Terms

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Belle International Holdings (Belle International Holdings) Business Description

Traded in Other Exchanges
N/A
Address
Belle International is China's largest women's footwear retailer. Founded in 1992, and headquartered in Hong Kong, Belle owns six of China's top 10 women's footwear brands, commanding as much as 25% market share in fiscal 2013. In addition to the manufacturing and distribution of female footwear, Belle also distributes major sportswear products, including Nike and Adidas.

Belle International Holdings (Belle International Holdings) Headlines

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