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Sinarmas Land (SGX:A26) Net-Net Working Capital : S$-0.56 (As of Dec. 2023)


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What is Sinarmas Land 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.

Sinarmas Land's Net-Net Working Capital for the quarter that ended in Dec. 2023 was S$-0.56.

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

SGX:A26's Price-to-Net-Net-Working-Capital is not ranked *
in the Real Estate industry.
Industry Median: 4.26
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Sinarmas Land Net-Net Working Capital Historical Data

The historical data trend for Sinarmas Land'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.

Sinarmas Land Net-Net Working Capital Chart

Sinarmas Land 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 -0.74 -0.72 -0.64 -0.55 -0.56

Sinarmas Land Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.64 -0.70 -0.55 -0.58 -0.56

Competitive Comparison of Sinarmas Land's Net-Net Working Capital

For the Real Estate - Development subindustry, Sinarmas Land'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.


Sinarmas Land's Price-to-Net-Net-Working-Capital Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Sinarmas Land's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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



Sinarmas Land Net-Net Working Capital Calculation

Sinarmas Land'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)
=(1366.214+0.75 * 27.631+0.5 * 1591.936-2916.215
-0-1650.076)/4255.16
=-0.56

Sinarmas Land'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)
=(1366.214+0.75 * 27.631+0.5 * 1591.936-2916.215
-0-1650.076)/4255.16
=-0.56

* 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.


Sinarmas Land  (SGX:A26) 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.


Sinarmas Land Net-Net Working Capital Related Terms

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Sinarmas Land (SGX:A26) Business Description

Traded in Other Exchanges
N/A
Address
108 Pasir Panjang Road, No. 06-00 Golden Agri Plaza, Singapore, SGP, 118535
Sinarmas Land Ltd develops, leases, and manages properties in Indonesia, China, Malaysia, and Singapore. The company operates in four segments: Indonesia property, international property, United Kingdom property, and other. The Indonesia property segment contributes the majority of the company's revenue, owning around 10,000 hectares of land with projects in city development, residential, commercial, retail, industrial estates, and hospitality properties, as well as property-related services. International property engages in and derives revenue from the investment, development, and management of commercial and residential properties in Malaysia, China, and Singapore. Other operations include the investment holding and corporate office.

Sinarmas Land (SGX:A26) Headlines

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