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DCT Industrial Trust (DCT Industrial Trust) Net-Net Working Capital : $-21.47 (As of Jun. 2018)


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What is DCT Industrial 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.

DCT Industrial Trust's Net-Net Working Capital for the quarter that ended in Jun. 2018 was $-21.47.

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

DCT's Price-to-Net-Net-Working-Capital is not ranked *
in the REITs industry.
Industry Median: 12.225
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

DCT Industrial Trust Net-Net Working Capital Historical Data

The historical data trend for DCT Industrial 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.

DCT Industrial Trust Net-Net Working Capital Chart

DCT Industrial Trust Annual Data
Trend Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -20.65 -18.58 -20.57 -20.49 -21.22

DCT Industrial Trust Quarterly Data
Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18
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 -20.07 -21.03 -21.22 -21.20 -21.47

Competitive Comparison of DCT Industrial Trust's Net-Net Working Capital

For the REIT - Industrial subindustry, DCT Industrial 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.


DCT Industrial Trust's Price-to-Net-Net-Working-Capital Distribution in the REITs Industry

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

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



DCT Industrial Trust Net-Net Working Capital Calculation

DCT Industrial Trust's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2017 is calculated as

Net-Net Working Capital(A: Dec. 2017 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(10.522+0.75 * 80.544+0.5 * 0-1961.209
-0-97.902)/93.7073
=-21.22

DCT Industrial Trust's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jun. 2018 is calculated as

Net-Net Working Capital(Q: Jun. 2018 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(19.843+0.75 * 82.956+0.5 * 0-2006.962
-0-95.447)/94.1131
=-21.47

* 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.


DCT Industrial Trust  (NYSE:DCT) 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.


DCT Industrial Trust Net-Net Working Capital Related Terms

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DCT Industrial Trust (DCT Industrial Trust) Business Description

Traded in Other Exchanges
N/A
Address
DCT Industrial Trust Inc is a real estate investment trust engaged in the acquiring, leasing, and managing of large distribution and light industrial warehouses near large U.S. urban markets. The company segments its operations into East, Central, and West divisions. DCT's property portfolio is fairly evenly distributed amongst its three regional units both in terms of total square footage and the percent of total revenue derived from each. The largest cities in each region play host to the most buildings. The company generates nearly all of its revenue in the form of rental revenue from its fairly diversified base of tenants. Manufacturing, transportation and warehousing, and wholesale trade companies account for most of DCT's revenue and total occupied square feet.
Executives
Philip L Hawkins director, officer: President and CEO C/O CORPORATE OFFICE PROPERTIES TRUST, 6711 COLUMBIA GATEWAY DRIVE, #300, COLUMBIA MD 21046
Marcus L. Smith director 555 17TH STREET, SUITE 3700, DCT INDUSTRIAL TRUST INC., DENVER CO 80202
Mark Skomal officer: Chief Accounting Officer C/O CYRUSONE INC. 2850 N HARWOOD ST STE 2200 DALLAS TX 75201
Raymond B Greer director 1515 WEST 20TH STREET, P.O. BOX 612787, DFW INTERNATIONAL AIRPORT TX 75261
Thomas F August director 6214 PARK LANE, DALLAS TX 75225
Marilyn A Alexander director 565 DUNNEGAN DRIVE, LAGUNA BEACH CA 92651
Thomas G Wattles director, officer: Chairman ONE INDEPENDENT DRIVE, SUITE 114, JACKSONVILLE FL 32202
Stuart B Brown officer: Chief Financial Officer 518 17TH STREET, SUITE 1700, DENVER CO 80202