Top Stocks With More Cash Than Market Cap

Wall St. Watchdog generated a stock screen showing companies for which cash and cash equivalents exceed market capitalization.  Cash and cash equivalents include non-cash assets such as receivables that can be readily converted to cash.  In some cases, these companies have low market capitalizations because their business prospects are uncertain, or they carry a large debt load.

The criteria for this screen are as follows:

  • Market capitalization < cash and cash equivalents
  • The company’s stock trades on a US exchange
  • The stock does not trade on the pink sheets
  • Market capitalization > $100 million.  There are a lot of questionable microcap companies, which appear to be shell companies, whose cash on hand is greater than market capitalization.  Setting a lower limit of $100 million in market capitalization eliminates these companies from consideration.
  • Sector is not financial.  Most banks have cash on hand that is greater than their market capitalization simply because all of the financial securities and deposits that they hold (which, for accounting purposes, are essentially cash).  So, in the case of banks, having more cash than one’s market capitalization is neither unusual nor interesting.
  • Earnings per share, excluding extraordinary items, for the trailing twelve months is at least $0.01.  I wanted to eliminate all unprofitable companies.  Extraordinary items are excluded in the EPS calculation because I want companies whose normal business operations generate a positive net income.

The screen resulted in 12 companies.  Following is information about them:

  • United Continental Holdings, Inc. (NYSE:UAL): This company operates in the Transportation sector. The company has $8,680,000,000 in cash and cash equivalents and $15,133,000,000 in debt. The company generated $23,229,000,000 in revenue for the last fiscal year, which is a change of 42.20% for the year over year period. The shares recently traded at $22.33 and its market capitalization is $7,554,323,000. About the company:  United Continental Holdings, Inc. (NYSE:UAL), formerly UAL Corporation, is a holding company and it’s, wholly owned subsidiaries are United Air Lines, Inc. (United) and Continental Airlines, Inc. (Continental). United and Continental transport people and cargo through their mainline operations, which utilize full-sized jet aircraft, and regional operations, which utilize smaller aircraft that are operated under contract by United Express, Continental Express and Continental Connection carriers. Competitors to Watch: Delta Air Lines, Inc. (NYSE:DAL), AMR Corporation (NYSE:AMR), Southwest Airlines Co. (NYSE:LUV), JetBlue Airways Corp. (NASDAQ:JBLU), Alaska Air Group, Inc. (NYSE:ALK), U.S. Airways (NYSE:LCC), Republic Airways Hldgs. Inc. (NASDAQ:RJET), AirTran Holdings, Inc. (NYSE:AAI), Hawaiian Holdings, Inc. (NASDAQ:HA), priceline.com (NASDAQ:PCLN), Expedia (NASDAQ:EXPE), Travelzoo (NASDAQ:TZOO) and Pinnacle Airlines Corp. (NASDAQ:PNCL).
  • Icahn Enterprises, L.P. (NYSE:IEP): This company operates in the Services sector. The company has $5,137,000,000 in cash and cash equivalents and $6,509,000,000 in debt. The company generated $9,119,000,000 in revenue for the last fiscal year, which is a change of 5.97% for the year over year period. The shares recently traded at $45.42 and its market capitalization is $3,848,365,000. About the company:  Icahn Enterprises LP is a diversified holding company involved in a variety of businesses. The Company’s businesses curently include hotel and casino operations; rental real estate; real estate development; hotel and resort operations; home fashion and investments in equity and debt securities.
  • US Airways Group, Inc. (NYSE:LCC): This company operates in the Transportation sector. The company has $1,859,000,000 in cash and cash equivalents and $4,400,000,000 in debt. The company generated $11,908,000,000 in revenue for the last fiscal year, which is a change of 13.86% for the year over year period. The shares recently traded at $8.21 and its market capitalization is $1,330,001,000. About the company:  US Airways Group, Inc. is an air carrier that transports passengers, property, and mail. The Company provides regularly scheduled service at airports in the United States, Canada, Europe, the Caribbean, and Latin America.
  • Standard Pacific Corp. (NYSE:SPF): This company operates in the Capital Goods sector. The company has $731,371,000 in cash and cash equivalents and $1,350,598,000 in debt. The company generated $924,874,000 in revenue for the last fiscal year, which is a change of -21.59% for the year over year period. The shares recently traded at $3.56 and its market capitalization is $702,898,500. About the company:  Standard Pacific Corp. constructs move-up homes within a wide range of price and size. The Company operates throughout the major metropolitan areas in California, Texas, Arizona, and Colorado. Standard Pacific also provides mortgage financing and title services to its homebuyers through its subsidiaries.
  • Mahanagar Telephone Nigam Limited (ADR) (NYSE:MTE): This company operates in the Services sector. The company has $1,108,171,713 in cash and cash equivalents and $0 in debt. The company generated $799,222,469 in revenue for the last fiscal year, which is a change of -15.12% for the year over year period. The shares recently traded at $2.01 and its market capitalization is $629,511,823. About the company:  Mahanagar Telephone Nigam Limited operates a telecommunications company, which provides basic phone, Internet and cellular mobile telephony services in Delhi and Mumbai. The Company upgrades the quality of telecom services, expands the telecom network, introduces new services and raises revenue for the telecom development needs of Delhi and Mumbai.
  • PennyMac Mortgage Investment Trust (NYSE:PMT): This company operates in the Services sector. The company has $533,535,000 in cash and cash equivalents and $0 in debt. The company generated $44,054,000 in revenue for the last fiscal year, which is a change of 0.00% for the year over year period. The shares recently traded at $17.04 and its market capitalization is $473,085,700. About the company:  Pennymac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company’s objective is to provide risk-adjusted returns to its investors over the long-term, primarily through dividends and secondarily through capital appreciation.
  • Genco Shipping + Trading Limited (NYSE:GNK): This company operates in the Transportation sector. The company has $270,877,000 in cash and cash equivalents and $1,746,248,000 in debt. The company generated $448,687,000 in revenue for the last fiscal year, which is a change of 18.22% for the year over year period. The shares recently traded at $7.34 and its market capitalization is $263,881,800. About the company:  Genco Shipping & Trading Ltd. offers shipping services. The Company’s drybulk carrier ships transport iron ore, coal, grain, steel, and other products.
  • Republic Airways Holdings Inc. (NASDAQ:RJET): This company operates in the Transportation sector. The company has $291,150,000 in cash and cash equivalents and $2,577,683,000 in debt. The company generated $2,653,651,000 in revenue for the last fiscal year, which is a change of 61.59% for the year over year period. The shares recently traded at $5.30 and its market capitalization is $255,417,800. About the company:  Republic Airways Holdings Inc., through its subsidiaries, provides passenger services. The company operates as US Airways Express, America West Express, and American Connection. Republic provides US Airways, American and America West with portions of their regional service, including service out of Boston, Columbus, Indianapolis, New York, Philadelphia, Pittsburgh and St Louis.
  • Elbit Imaging Ltd (NASDAQ:EMITF): This company operates in the Services sector. The company has $1,627,454,043 in cash and cash equivalents and $1,255,596,430 in debt. The company generated $433,688,788 in revenue for the last fiscal year, which is a change of 111.50% for the year over year period. The shares recently traded at $6.65 and its market capitalization is $170,792,365. About the company:  Elbit Imaging Ltd. hold investments in high-technology companies. The Company, through its subsidiaries, also develop shopping and entertainment centers in Central Europe and invest in and manage hotels.
  • Xinyuan Real Estate Co., Ltd. (ADR) (NYSE:XIN): This company operates in the Capital Goods sector. The company has $213,325,900 in cash and cash equivalents and $295,862,130 in debt. The company generated $449,971,900 in revenue for the last fiscal year, which is a change of 0.22% for the year over year period. The shares recently traded at $2.19 and its market capitalization is $168,419,300. About the company:  Xinyuan Real Estate Company, Ltd. is a residential real estate developer that focuses on Tier II cities in China. The Company develops large scale residential projects that includes multi-layer buildings, sub-high apartment buildings, hospitals, schools, and others. Xinyuan also develops small scale properties as well.
  • Actions Semiconductor Co., Ltd. (ADR) (NASDAQ:ACTS): This company operates in the Technology sector. The company has $207,777,000 in cash and cash equivalents and $0 in debt. The company generated $37,585,000 in revenue for the last fiscal year, which is a change of -14.85% for the year over year period. The shares recently traded at $2.19 and its market capitalization is $152,591,400. About the company:  Actions Semiconductor Co. Ltd. is an IC design company. The Company provides system-on-a chip solutions for the development and manufacture of personal media or MP3 players.
  • Lentuo International Inc (ADR) (NYSE:LAS): This company operates in the Services sector. The company has $124,705,269 in cash and cash equivalents and $0 in debt. The company generated $520,234,724 in revenue for the last fiscal year, which is a change of 43.66% for the year over year period. The shares recently traded at $3.42 and its market capitalization is $100,782,671. About the company:  Lentuo International Inc. is a non-state-owned automobile retailer in Beijing. The Company operates franchise dealerships throughout Beijing that offer new passenger vehicles, auto parts and accessories for sale, as well as automobile repair and maintenance services, and provide a channel for vehicle manufacturers to gather customer feedback.

(Note: Selected financial data are sourced from screener.co.  All data are assumed to be accurate.)

Get Actionable Investing Insights: Check Out Wall St. Cheat Sheet’s newest Feature Trades of the Month!