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Scottish Re Group (Scottish Re Group) Net-Net Working Capital : $0.00 (As of Jun. 2011)


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What is Scottish Re Group 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.

Scottish Re Group's Net-Net Working Capital for the quarter that ended in Jun. 2011 was $0.00.

The industry rank for Scottish Re Group's Net-Net Working Capital or its related term are showing as below:

SKRUF.PFD's Price-to-Net-Net-Working-Capital is not ranked *
in the Insurance industry.
Industry Median: 4.58
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Scottish Re Group Net-Net Working Capital Historical Data

The historical data trend for Scottish Re Group'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.

Scottish Re Group Net-Net Working Capital Chart

Scottish Re Group Annual Data
Trend Dec01 Dec02 Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10
Net-Net Working Capital
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Scottish Re Group Quarterly Data
Sep06 Dec06 Mar07 Jun07 Sep07 Dec07 Mar08 Jun08 Sep08 Dec08 Mar09 Jun09 Sep09 Dec09 Mar10 Jun10 Sep10 Dec10 Mar11 Jun11
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Competitive Comparison of Scottish Re Group's Net-Net Working Capital

For the Insurance - Life subindustry, Scottish Re Group'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.


Scottish Re Group's Price-to-Net-Net-Working-Capital Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Scottish Re Group's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Scottish Re Group's Price-to-Net-Net-Working-Capital falls into.



Scottish Re Group Net-Net Working Capital Calculation

Scottish Re Group's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2010 is calculated as

Net-Net Working Capital(A: Dec. 2010 )
=(Balance Sheet Cash And Cash Equivalents+Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(417.722+16.459+0.75 * 0+0.5 * 0-5101.726
-120.152-9)/0
=N/A

Scottish Re Group's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jun. 2011 is calculated as

Net-Net Working Capital(Q: Jun. 2011 )
=(Balance Sheet Cash And Cash Equivalents+Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(225.319+0+0.75 * 0+0.5 * 0-4170.427
-120.152-8.419)/0
=N/A

* 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.


Scottish Re Group  (OTCPK:SKRUF.PFD) 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.


Scottish Re Group Net-Net Working Capital Related Terms

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Scottish Re Group (Scottish Re Group) Business Description

Traded in Other Exchanges
N/A
Address
Crown House, First Floor, 4 Par-la-Ville Road, Hamilton, BMU, HM 08
Scottish Re Group is engaged in the reinsurance of life insurance, annuities and annuity-type products. It accepts part of the risk of insurance policies for a portion of the income earned by the policies. The company uses its headquarters in the tax-friendly Cayman Islands to provide wealth management and estate planning services to high net worth clients. It has operations in Bermuda, the Cayman Islands, Ireland, the United Kingdom, and the United States.
Executives
Richard M Rieder 10 percent owner 55 EAST 52ND STREET, NEW YORK NY 10055
Lehman Brothers Holdings Inc 10 percent owner 1271 AVENUE OF THE AMERICAS, NEW YORK NY 10020
Seth Gardner director CERBERUS CAPITAL MANAGEMENT, L.P., 299 PARK AVENUE, NEW YORK NY 10171
George Robert Zippel director, officer: President & CEO 700 MAIN STREET, LYNCHBURG VA 24505
Terry Eleftheriou officer: CFO 10375 PROFESSIONAL CIRCLE, RENO NV 89521
Jeffrey Hughes director 811 HANSEN WAY, PALO ALTO CA 94303
Lenard Tessler director C/O ALBERTSONS COMPANIES, INC., 250 E. PARKCENTER BLVD., BOISE ID 83706
Robert Eugene Joyal director 352 WARDNER ROAD, WEST WINDSOR VT 05089
James N Chapman director 14 ALPINE ROAD, GREENWICH CT 06830
Thomas M Finke director BARINGS LLC, 300 SOUTH TRYON STREET, SUITE 2500, CHARLOTTE NC 28202
Michael Thomas Rollings director 1295 STATE STREET, SPRINGFIELD MA 01111
Larry Port director 230 PARK AVENUE, NEW YORK NY 10169
Stephen Feinberg 10 percent owner 875 THIRD AVENUE, 11TH FLOOR, NEW YORK NY 10022
Massachusetts Mutual Life Insurance Co 10 percent owner 1295 STATE STREET, SPRINGFIELD MA 01111
Glenn S Schafer director 151 DETROIT STREET, DENVER CO 80206

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