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Frasers Hospitality Trust (SGX:ACV) Net-Net Working Capital : S$-0.38 (As of Mar. 2024)


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What is Frasers Hospitality 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.

Frasers Hospitality Trust's Net-Net Working Capital for the quarter that ended in Mar. 2024 was S$-0.38.

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

SGX:ACV's Price-to-Net-Net-Working-Capital is not ranked *
in the REITs industry.
Industry Median: 14.37
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Frasers Hospitality Trust Net-Net Working Capital Historical Data

The historical data trend for Frasers Hospitality 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.

Frasers Hospitality Trust Net-Net Working Capital Chart

Frasers Hospitality Trust Annual Data
Trend Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only -0.46 -0.48 -0.53 -0.37 -0.36

Frasers Hospitality Trust Semi-Annual Data
Dec14 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24
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 -0.46 -0.37 -0.36 -0.36 -0.38

Competitive Comparison of Frasers Hospitality Trust's Net-Net Working Capital

For the REIT - Hotel & Motel subindustry, Frasers Hospitality 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.


Frasers Hospitality Trust's Price-to-Net-Net-Working-Capital Distribution in the REITs Industry

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

* The bar in red indicates where Frasers Hospitality Trust's Price-to-Net-Net-Working-Capital falls into.



Frasers Hospitality Trust Net-Net Working Capital Calculation

Frasers Hospitality Trust's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Sep. 2023 is calculated as

Net-Net Working Capital(A: Sep. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(88.134+0.75 * 6.201+0.5 * 0.026-794.529
-0-0)/1926.07
=-0.36

Frasers Hospitality Trust's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2024 is calculated as

Net-Net Working Capital(Q: Mar. 2024 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(102.53+0.75 * 18.243+0.5 * 0.029-852.199
-0-0)/1926.07
=-0.38

* 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.


Frasers Hospitality Trust  (SGX:ACV) 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.


Frasers Hospitality Trust Net-Net Working Capital Related Terms

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Frasers Hospitality Trust (SGX:ACV) Business Description

Traded in Other Exchanges
N/A
Address
438 Alexandra Road, No.21-00, Alexandra Point, Singapore, SGP, 119958
Frasers Hospitality Trust, or FHT, is a global hotel and serviced residence trust that invests in income-producing real estate and real estate-related assets used mainly for hospitality purposes. Its hotels are luxury, upscale, and midscale properties. FHT's investment properties are across Singapore, Australia, Malaysia, Germany, Japan, and the United Kingdom, in cities such as Singapore, Kuala Lumpur, Kobe, Sydney, London, Edinburgh, and Glasgow. Frasers derives the majority of its revenue from its assets in Singapore and Australia. International hotel chains, such as Accor, and InterContinental manage the company's portfolio; as well as Frasers Hospitality, which is a serviced residence operator. The company business segment consist of master leases and hotel under management contract.