Viva Energy Group (ASX:VEA) Net-Net Working Capital : A$-3.08 (As of Dec. 2023)

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What is Viva Energy 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.

Viva Energy Group's Net-Net Working Capital for the quarter that ended in Dec. 2023 was A$-3.08.

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

ASX:VEA's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Oil & Gas industry.
Industry Median: 5.51
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Viva Energy Group Net-Net Working Capital Historical Data

The historical data trend for Viva Energy 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.

Viva Energy Group Net-Net Working Capital Chart

Viva Energy Group Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Net-Net Working Capital

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-2.36

-2.22

-2.35

-2.52

-3.08

Viva Energy Group Semi-Annual Data
	Dec17	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Net-Net Working Capital	Get a 7-Day Free Trial							-2.35	-2.46	-2.52	-2.74	-3.08

Competitive Comparison of Viva Energy Group's Net-Net Working Capital

For the Oil & Gas Refining & Marketing subindustry, Viva Energy 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.

Viva Energy Group's Price-to-Net-Net-Working-Capital Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Viva Energy Group's Price-to-Net-Net-Working-Capital distribution charts can be found below:

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

Viva Energy Group Net-Net Working Capital Calculation

Viva Energy Group'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)
=	(215.5	+	0.75 * 1605.9	+	0.5 * 1798	-	7071.7
-	0	-	0)	/	1544.17
=	-3.08

Viva Energy Group'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)
=	(215.5	+	0.75 * 1605.9	+	0.5 * 1798	-	7071.7
-	0	-	0)	/	1544.17
=	-3.08

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.

Viva Energy Group (ASX:VEA) 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.

Viva Energy Group Net-Net Working Capital Related Terms

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Viva Energy Group (ASX:VEA) Business Description

Industry

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2AH:Germany

Address

720 Bourke Street, Level 16, Docklands, Melbourne, VIC, AUS, 3008

Website

https://www.vivaenergy.com.au

Viva is Australia's second-largest vertically integrated refined transport fuel supplier. We rate Viva as the second-most-significant pipeline owner, and at approximately 1,155 locations, Viva supplies the third-largest number of retail sites in Australia behind Ampol at approximately 1,985 and BP at 1,400.Vitol bought Shell's Australian downstream operations in 2014, and renamed them Viva Energy. Viva subsequently bought Shell's Australian aviation operations and a 50% investment in Liberty Oil. In 2016, Viva sold (and leased back) a portfolio of its retail sites to Viva Energy REIT and listed Viva Energy REIT on the ASX. It has since sold its entire REIT stake for AUD 734 million.