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Mapletree Pan Asia Commercial Trust (SGX:N2IU) Net-Net Working Capital : S$-1.35 (As of Dec. 2023)


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What is Mapletree Pan Asia Commercial 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.

Mapletree Pan Asia Commercial Trust's Net-Net Working Capital for the quarter that ended in Dec. 2023 was S$-1.35.

The industry rank for Mapletree Pan Asia Commercial Trust's Net-Net Working Capital or its related term are showing as below:

SGX:N2IU's Price-to-Net-Net-Working-Capital is not ranked *
in the REITs industry.
Industry Median: 13.89
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Mapletree Pan Asia Commercial Trust Net-Net Working Capital Historical Data

The historical data trend for Mapletree Pan Asia Commercial 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.

Mapletree Pan Asia Commercial Trust Net-Net Working Capital Chart

Mapletree Pan Asia Commercial Trust Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -0.84 -0.95 -0.92 -0.92 -1.36

Mapletree Pan Asia Commercial Trust Quarterly Data
Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Sep20 Mar21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 -1.37 -1.36 -1.35 -1.35 -1.35

Competitive Comparison of Mapletree Pan Asia Commercial Trust's Net-Net Working Capital

For the REIT - Office subindustry, Mapletree Pan Asia Commercial 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.


Mapletree Pan Asia Commercial Trust's Price-to-Net-Net-Working-Capital Distribution in the REITs Industry

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

* The bar in red indicates where Mapletree Pan Asia Commercial Trust's Price-to-Net-Net-Working-Capital falls into.



Mapletree Pan Asia Commercial Trust Net-Net Working Capital Calculation

Mapletree Pan Asia Commercial Trust's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Mar. 2023 is calculated as

Net-Net Working Capital(A: Mar. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(216.147+0.75 * 1.652+0.5 * 0.41-7346.44
-0-12.686)/5239.33
=-1.36

Mapletree Pan Asia Commercial Trust'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)
=(160.987+0.75 * 14.88+0.5 * 0.427-7229.898
-0-13.154)/5249.76
=-1.35

* 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.


Mapletree Pan Asia Commercial Trust  (SGX:N2IU) 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.


Mapletree Pan Asia Commercial Trust Net-Net Working Capital Related Terms

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Mapletree Pan Asia Commercial Trust (SGX:N2IU) Business Description

Traded in Other Exchanges
Address
10-80 Pasir Panjang Road, No. 13-01, Mapletree Business City, Singapore, SGP, 117438
Mapletree Pan Asia Commercial Trust was established in July 2022 as a result of the merger between Mapletree Commercial Trust and Mapletree North Asia Commercial Trust. The trust has a diversified portfolio of 18 properties, which includes business parks, offices and retail malls across Singapore, Hong Kong, China, Japan, and South Korea. The trust is externally managed by MPACT Management, a subsidiary of its sponsor, which owns around a 56% stake in the trust.

Mapletree Pan Asia Commercial Trust (SGX:N2IU) Headlines

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