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Tokyu Reit (TSE:8957) Net-Net Working Capital : 円-115,522.14 (As of Jul. 2023)


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What is Tokyu Reit 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.

Tokyu Reit's Net-Net Working Capital for the quarter that ended in Jul. 2023 was 円-115,522.14.

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

TSE:8957's Price-to-Net-Net-Working-Capital is not ranked *
in the REITs industry.
Industry Median: 15.305
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Tokyu Reit Net-Net Working Capital Historical Data

The historical data trend for Tokyu Reit'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.

Tokyu Reit Net-Net Working Capital Chart

Tokyu Reit Annual Data
Trend Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -106,420.11 -104,195.08 -121,114.46 -104,250.23 -115,522.14

Tokyu Reit Semi-Annual Data
Jul14 Jan15 Jul15 Jan16 Jul16 Jan17 Jul17 Jan18 Jul18 Jan19 Jul19 Jan20 Jul20 Jan21 Jul21 Jan22 Jul22 Jan23 Jul23 Jan24
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 -104,488.31 -104,250.23 -117,602.21 -115,522.14 -

Competitive Comparison of Tokyu Reit's Net-Net Working Capital

For the REIT - Diversified subindustry, Tokyu Reit'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.


Tokyu Reit's Price-to-Net-Net-Working-Capital Distribution in the REITs Industry

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

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



Tokyu Reit Net-Net Working Capital Calculation

Tokyu Reit's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jul. 2023 is calculated as

Net-Net Working Capital(A: Jul. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(5564.045+0.75 * 183.312+0.5 * 0-118635.977
-0-0)/0.9776
=-115,522.14

Tokyu Reit's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jul. 2023 is calculated as

Net-Net Working Capital(Q: Jul. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(5564.045+0.75 * 183.312+0.5 * 0-118635.977
-0-0)/0.9776
=-115,522.14

* 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.


Tokyu Reit  (TSE:8957) 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.


Tokyu Reit Net-Net Working Capital Related Terms

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Tokyu Reit (TSE:8957) Business Description

Industry
Traded in Other Exchanges
N/A
Address
1-12-1, Dogenzaka, Tokyo, JPN
Tokyu Reit Inc is a Japanese real estate company. It is engaged in asset investment and management based on principles of growth, stability, and transparency. The company invests predominantly in retail and office properties located in Chiyoda, Chuo, Minato, Shinjuku and Shibuya wards. It also conducts replacement of properties and other measures as needed in order to maintain and improve the portfolio quality, aiming to enhance its asset value and increase net income per unit.

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