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Advanced Micro-fabrication Equipment (SHSE:688012) Net-Net Working Capital : ¥11.95 (As of Mar. 2024)


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What is Advanced Micro-fabrication Equipment 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.

Advanced Micro-fabrication Equipment's Net-Net Working Capital for the quarter that ended in Mar. 2024 was ¥11.95.

The industry rank for Advanced Micro-fabrication Equipment's Net-Net Working Capital or its related term are showing as below:

SHSE:688012's Price-to-Net-Net-Working-Capital is ranked worse than
59.75% of 472 companies
in the Semiconductors industry
Industry Median: 8.42 vs SHSE:688012: 11.18

Advanced Micro-fabrication Equipment Net-Net Working Capital Historical Data

The historical data trend for Advanced Micro-fabrication Equipment'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.

Advanced Micro-fabrication Equipment Net-Net Working Capital Chart

Advanced Micro-fabrication Equipment Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net-Net Working Capital
Get a 7-Day Free Trial 3.83 3.62 15.64 12.79 13.34

Advanced Micro-fabrication Equipment Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 12.40 13.57 13.08 13.34 11.95

Competitive Comparison of Advanced Micro-fabrication Equipment's Net-Net Working Capital

For the Semiconductor Equipment & Materials subindustry, Advanced Micro-fabrication Equipment'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.


Advanced Micro-fabrication Equipment's Price-to-Net-Net-Working-Capital Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Advanced Micro-fabrication Equipment's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Advanced Micro-fabrication Equipment's Price-to-Net-Net-Working-Capital falls into.



Advanced Micro-fabrication Equipment Net-Net Working Capital Calculation

Advanced Micro-fabrication Equipment'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)
=(8959.334+0.75 * 1164.908+0.5 * 4260.34-3702.441
-0--3.018)/619.279
=13.34

Advanced Micro-fabrication Equipment's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2024 is calculated as

Net-Net Working Capital(Q: Mar. 2024 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(7805.576+0.75 * 1673.445+0.5 * 5583.649-4447.385
-0--3.203)/620.073
=11.95

* 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.


Advanced Micro-fabrication Equipment  (SHSE:688012) 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.


Advanced Micro-fabrication Equipment Net-Net Working Capital Related Terms

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Advanced Micro-fabrication Equipment (SHSE:688012) Business Description

Traded in Other Exchanges
N/A
Address
No. 188, Taihua Road, Jinqiao Export Processing Zone (South District), Pudong New Area, Shanghai, CHN, 201201
Advanced Micro-fabrication Equipment Inc is engaged in the development, production and sales of equipment such as plasma etching equipment, deep silicon etching equipment and MOCVD equipment for microelectronic devices such as integrated circuits and LED chips.

Advanced Micro-fabrication Equipment (SHSE:688012) Headlines

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