On the other hand under a liquidation scenario wouldn't you take
current assets + rig value less total liabilities.
Not exact matches
Net
Current Asset Value = (
Current Assets --(Total Liabilities
+ Preferred Stock)-RRB- / Total Shares Outstanding
Net
Current Asset Value (NCAV) = Cash and Short - Term Investments
+ (0.75 * Accounts Receivable)
+ (0.5 * Inventory)-- Total Liabilities
(Borrowings
+ Financial Derivative Liabilities
+ (Convertible / Preference Liabilities
+ Pension / Employee Liabilities
+ Government Loans / Repayable Grants etc.) * 50 % — Cash / Marketable Securities — Derivative Financial
Assets) / (
Current / Non -
Current / Held - for - Sale Property)
(GBP 25.30 p P / E Val
+ GBP 22.25 p P / S Val
+ GBP 30.10 p
Asset Val) / 3 = GBP 25.9 p Fair Value per share, for an Upside Potential of 130 % (from
current GBP 11.25 p market price)
Net
Current Asset Value (NCAV) = cash and short - term investments
+ (0.75 * accounts receivable)
+ (0.5 * inventory)-- total liabilities — preferred stock The resulting value can then be divided by the number of common shares outstanding to find the NCAV per share.
the formula is (CA - CL) / TA * 1.2
+3.3 * EBIT / TA
+0.6 * EQ / (D
+CL)
+ Aturn > 3 where CA =
current assets CL =
current liabilities TA = total
assets EQ = total equity D = long term debt Aturn =
asset turnover
Based on my own evaluation of Russian economic & property fundamentals at the time, and reading management's commentary on Raven's
current & future prospects, I believed it was highly unlikely
assets would ever decline 46 %, let alone a catastrophic 64 %
+... This, of course, presumes the
assets are fairly valued in the first place...
We look at an overview of the
current financial crisis and the reasons for it — Toxic
assets and why the banks lent so much to people with so little — The Role of The Bank of England and whether reduction in interest rates is working — The possibility of Deflation — Short selling of bank shares — The World shedding 70,000
+ jobs a day — Madoff — How long the recession is likely to last.
NAV is calculated as Market value of investments held by the fund
+ Value of
current assets — value of
current liabilities) / number of units existing on valuation date.