medium · Private Equity value-creation

What does a 'negative' working capital peg imply about a company's business model?

  1. The company is losing money on every single unit of product that it sells
  2. The company collects cash from customers before it has to pay its suppliers.
  3. The company's inventory is fully obsolete and carries no remaining market value
  4. The company simply carries more total debt than it has total assets

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