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Country Garden Services Holdings Co (HKSE:06098) Net-Net Working Capital : HK$-2.22 (As of Dec. 2023)


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What is Country Garden Services Holdings Co 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.

Country Garden Services Holdings Co's Net-Net Working Capital for the quarter that ended in Dec. 2023 was HK$-2.22.

The industry rank for Country Garden Services Holdings Co's Net-Net Working Capital or its related term are showing as below:

HKSE:06098's Price-to-Net-Net-Working-Capital is not ranked *
in the Real Estate industry.
Industry Median: 4.36
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Country Garden Services Holdings Co Net-Net Working Capital Historical Data

The historical data trend for Country Garden Services Holdings Co'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.

Country Garden Services Holdings Co Net-Net Working Capital Chart

Country Garden Services Holdings Co Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only 1.03 1.83 -2.69 -2.89 -2.22

Country Garden Services Holdings Co Semi-Annual Data
Dec15 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 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 -2.69 -2.56 -2.89 -2.53 -2.22

Competitive Comparison of Country Garden Services Holdings Co's Net-Net Working Capital

For the Real Estate Services subindustry, Country Garden Services Holdings Co'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.


Country Garden Services Holdings Co's Price-to-Net-Net-Working-Capital Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Country Garden Services Holdings Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Country Garden Services Holdings Co's Price-to-Net-Net-Working-Capital falls into.



Country Garden Services Holdings Co Net-Net Working Capital Calculation

Country Garden Services Holdings Co'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)
=(15036.179+0.75 * 17914.46+0.5 * 564.68-33318.689
-0-2872.486)/3343.02
=-2.22

Country Garden Services Holdings Co'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)
=(15036.179+0.75 * 17914.46+0.5 * 564.68-33318.689
-0-2872.486)/3343.02
=-2.22

* 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.


Country Garden Services Holdings Co  (HKSE:06098) 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.


Country Garden Services Holdings Co Net-Net Working Capital Related Terms

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Country Garden Services Holdings Co (HKSE:06098) Business Description

Traded in Other Exchanges
Address
West Building of Country Garden Office, Beijiao Town, Shunde District, Guangdong Province, Foshan, CHN, 528312
Country Garden Services was listed on the Hong Kong Stock Exchange in June 2018 as a spinoff via introduction by sister developer Country Garden Holdings. As of June 2022, Yang Huiyan, chairperson of CGH, was also the largest shareholder of CGS with 43% ownership. CGS was the top residential property management firm in China in revenue and gross floor area under management for 2022. This is mainly ascribed to scalable projects contributed by CGH and rising acquisitions of third-party property management peers. In addition, CGS provides value-added services to developers and homeowners, and city services on public space sanitation and greening.
Executives
Concrete Win Limited 2501 Other
Guoqiang Public Welfare Foundation (hong Kong) Limited 2101 Beneficial owner
Yang Huiyan 2501 Other
Yang Ziying 2201 Interest of corporation controlled by you
Jpmorgan Chase & Co.
Chen Chong 2202 Interest of your spouse
Ubs Group Ag 2201 Interest of corporation controlled by you
China Ping An Insurance Overseas (holdings) Limited 2201 Interest of corporation controlled by you
Ping An Of China Asset Management (hong Kong) Company Limited 2102 Investment manager

Country Garden Services Holdings Co (HKSE:06098) Headlines

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