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Exact Holding NV (XAMS:EXACT) Net-Net Working Capital : €0.22 (As of Dec. 2014)


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What is Exact Holding NV 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.

Exact Holding NV's Net-Net Working Capital for the quarter that ended in Dec. 2014 was €0.22.

The industry rank for Exact Holding NV's Net-Net Working Capital or its related term are showing as below:

XAMS:EXACT's Price-to-Net-Net-Working-Capital is not ranked *
in the Software industry.
Industry Median: 7.21
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Exact Holding NV Net-Net Working Capital Historical Data

The historical data trend for Exact Holding NV'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.

Exact Holding NV Net-Net Working Capital Chart

Exact Holding NV Annual Data
Trend Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -0.45 -0.83 -0.95 -0.73 0.22

Exact Holding NV Semi-Annual Data
Dec01 Dec02 Dec05 Dec06 Dec07 Dec08 Jun09 Dec09 Jun10 Dec10 Jun11 Dec11 Jun12 Dec12 Jun13 Dec13 Jun14 Dec14
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 -0.95 -0.88 -0.73 -1.02 0.22

Competitive Comparison of Exact Holding NV's Net-Net Working Capital

For the Software - Infrastructure subindustry, Exact Holding NV'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.


Exact Holding NV's Price-to-Net-Net-Working-Capital Distribution in the Software Industry

For the Software industry and Technology sector, Exact Holding NV's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Exact Holding NV's Price-to-Net-Net-Working-Capital falls into.



Exact Holding NV Net-Net Working Capital Calculation

Exact Holding NV's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2014 is calculated as

Net-Net Working Capital(A: Dec. 2014 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(89.895+0.75 * 23.667+0.5 * 0.082-102.562
-0-0)/22.863
=0.22

Exact Holding NV's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2014 is calculated as

Net-Net Working Capital(Q: Dec. 2014 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(89.895+0.75 * 23.667+0.5 * 0.082-102.562
-0-0)/22.887
=0.22

* 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.


Exact Holding NV  (XAMS:EXACT) 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.


Exact Holding NV Net-Net Working Capital Related Terms

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Exact Holding NV (XAMS:EXACT) Business Description

Traded in Other Exchanges
N/A
Address
Exact Holding NV was founded in 1984. The Company is a supplier of enterprise resource planning and accounting software for small and medium sized businesses. It develops industry-specific software and offer these as on-premises, software-as-a-service and true cloud solutions. Its products include Exact Globe Next, an ERP software that structures business processes on a single platform and consolidates information flows; Exact Synergy, a Web-based solution, which unites processes, and connects information in the areas of employees, customers, and financial transactions; Exact Financials; and Exact Online, a business software that provides possibilities for collaboration and advice between accountants and their customers. The Company's solutions also include Exact JobBOSS, shop management software for job shops, and custom, contract and high-tech manufacturers in the Americas; Exact Dimoni, ERP solution engaged in financial, commercial and industrial management in Spain; Exact Macola, an integrated ERP solution designed for the manufacturing and distribution sectors in the Americas; Exact ProAcc, an ERP solution for the Belgian SMB market running on MS Windows, MacOS and via internet; Exact Business Analytics, analytical software that empowers people to intelligently interpret and analyze business data to make better decisions; and Exact Event Manager, a business activity monitoring, alerting, and automation tool, among others.

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