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Silver Bay Realty Trust (Silver Bay Realty Trust) Net-Net Working Capital : $-18.74 (As of Dec. 2016)


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What is Silver Bay Realty Trust 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.

Silver Bay Realty Trust's Net-Net Working Capital for the quarter that ended in Dec. 2016 was $-18.74.

The industry rank for Silver Bay Realty Trust's Net-Net Working Capital or its related term are showing as below:

SBY's Price-to-Net-Net-Working-Capital is not ranked *
in the REITs industry.
Industry Median: 13.22
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Silver Bay Realty Trust Net-Net Working Capital Historical Data

The historical data trend for Silver Bay Realty Trust'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.

Silver Bay Realty Trust Net-Net Working Capital Chart

Silver Bay Realty Trust Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16
Net-Net Working Capital
5.62 -3.74 -10.52 -18.25 -18.74

Silver Bay Realty Trust Quarterly Data
Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16
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 -18.25 -18.60 -18.66 -19.65 -18.74

Competitive Comparison of Silver Bay Realty Trust's Net-Net Working Capital

For the REIT - Residential subindustry, Silver Bay Realty Trust'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.


Silver Bay Realty Trust's Price-to-Net-Net-Working-Capital Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Silver Bay Realty Trust's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Silver Bay Realty Trust's Price-to-Net-Net-Working-Capital falls into.



Silver Bay Realty Trust Net-Net Working Capital Calculation

Silver Bay Realty Trust's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2016 is calculated as

Net-Net Working Capital(A: Dec. 2016 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(52.279+0.75 * 0+0.5 * 0-683.68
-0-31.734)/35.38
=-18.74

Silver Bay Realty Trust's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2016 is calculated as

Net-Net Working Capital(Q: Dec. 2016 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(52.279+0.75 * 0+0.5 * 0-683.68
-0-31.734)/35.38
=-18.74

* 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.


Silver Bay Realty Trust  (NYSE:SBY) 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.


Silver Bay Realty Trust Net-Net Working Capital Related Terms

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Silver Bay Realty Trust (Silver Bay Realty Trust) Business Description

Traded in Other Exchanges
N/A
Address
Silver Bay Realty Trust Corp was incorporated in Maryland in June 2012. The Company is engaged in acquisition, renovation, leasing, and management of single-family properties in select markets in the United States. As of December 31, 2013, the company owned 5,642 single-family properties in Arizona, California, Florida, Georgia, Nevada, North Carolina, Ohio, and Texas, excluding properties held for sale. The Company conducts its business and owns all of its properties through Silver Bay Operating Partnership L.P., or the Operating Partnership, a Delaware limited partnership. acquire single-family properties through a variety of acquisition channels, including brokers, multiple listing services, short sales, foreclosure auctions, online auctions, and bulk purchases from institutions or investor groups. The Company face competition from individual investors, private pools of capital and other institutional buyers which may increase the prices for properties that they would like to purchase and reduce its ability to achieve its desired portfolio size or expected yields. They also compete for desirable residents against the same entities as well as multifamily lessors. The Company's properties are subject to various covenants, laws, and ordinances, and certain of its properties are also subject to the rules of the various homeowners' associations where such properties are located.
Executives
Tanuja M Dehne director C/O SILVER BAY REALTY TRUST CORP., 601 CARLSON PARKWAY, SUITE 250, MINNETONKA MN 55305
William Reid Sanders director C/O TWO HARBORS INVESTMENT CORP., 1601 UTICA AVENUE SOUTH, SUITE 900, ST. LOUIS PARK MN 55416
Thomas W Brock director, officer: Chief Executive Officer 1290 BROADWAY, SUITE 1100, DENVER CO 80203
Stephen G Kasnet director 1601 UTICA AVENUE SOUTH, SUITE 900, ST. LOUIS PARK MN 55416
Thomas Siering director TWO HARBORS INVESTMENT CORP., 601 CARLSON PARKWAY, SUITE 1400, MINNETONKA MN 55305
Daryl J Carter director CAPRI CAPITAL LP, 18301 VON KARMAN AVE STE 750, IRVIN CA 92612
Christine Battist officer: Chief Financial Officer 601 CARLSON PARKWAY, SUITE 250, MINNETONKA MN 55305
Brian Taylor director C/O PINE RIVER CAPITAL MANAGEMENT, 601 CARLSON PARKWAY, 7TH FLOOR, MINNETONKA MN 55305
Obrien Timothy W J officer: Secretary TWO HARBORS INVESTMENT CORP., 601 CARLSON PARKWAY, SUITE 330, MINNETONKA MN 55305
William W Johnson director TWO HARBORS INVESTMENT CORP., 601 CARLSON PARKWAY, SUITE 1400, MINNETONKA MN 55305
Two Harbors Investment Corp. 10 percent owner 1601 UTICA AVENUE SOUTH, SUITE 900, ST. LOUIS PARK MN 55416
Two Harbors Operating Co Llc 10 percent owner 601 CARLSON PARKWAY, SUITE 1400, MINNETONKA MN 55305
Pine River Capital Management Llc 10 percent owner 601 CARLSON PARKWAY, 7TH FLOOR, MINNETONKA MN 55305

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