APAC ResourcesAPPCF 43 Net-Net Working Capital is $0.31 as of Dec. 2025. GuruFocus rates APPCF with a GF Score™ of 43/100 and a GF Value™ of $0.14 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 291 Capital Markets companies, APAC Resources ranks better than 94.5% on this metric.
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.
APAC Resources's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $0.31.
The industry rank for APAC Resources's Net-Net Working Capital or its related term are showing as below:
APPCF's Price-to-Net-Net-Working-Capital is ranked better than 94.5% of 291
companies
in the Capital Markets industry
Industry Median: 5.14
vs APPCF: 0.63
APAC Resources (OTCPK:APPCF) 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.
APAC Resources Net-Net Working Capital Related Terms
APAC Resources Net-Net Working Capital Historical Data
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The historical data trend for APAC Resources'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.
APPCF vs MS, GS, SCHW: Net-Net Working Capital Comparison
For the Capital Markets subindustry, APAC Resources'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.
APAC Resources Price-to-Net-Net-Working-Capital vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, APAC Resources's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where APAC Resources's Price-to-Net-Net-Working-Capital falls into.
* 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.
What does a Net-Net Working Capital of $0.31 mean?
APAC Resources (APPCF) has a Net-Net Working Capital of $0.31 as of Dec. 2025. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on APAC Resources According to the industry distribution chart, APAC Resources ranks #16 out of 291 companies in the Capital Markets industry, placing it in the top 5.5%.
Is APAC Resources' Net-Net Working Capital too high?
APAC Resources' current Net-Net Working Capital is $0.31. The Capital Markets industry median Net-Net Working Capital is 5.14. APAC Resources' value of $0.31 is 94% below this industry median. Based on the distribution chart, APAC Resources ranks #16 out of 291 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, APAC Resources has a GF Score™ of 43/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does APAC Resources' Net-Net Working Capital compare to MS and GS?
According to the Capital Markets industry distribution chart, APAC Resources ranks #16 out of 291 companies for Net-Net Working Capital. This places APAC Resources in the top 6% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 5.14. APAC Resources' value of $0.31 is 94% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Capital Markets company?
The median Net-Net Working Capital among Capital Markets companies is 5.14, based on 291 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. APAC Resources's current Net-Net Working Capital of $0.31 is 94% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on APAC Resources For the Capital Markets industry, the median Net-Net Working Capital is 5.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. APAC Resources's current Net-Net Working Capital is $0.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is APAC Resources stock overvalued right now?
Based on GuruFocus' analysis, APAC Resources (APPCF) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.14, compared to a current price of $0.19 — trading 35% above its estimated fair value. The current Net-Net Working Capital is $0.31 and 94% below the Capital Markets industry median of 5.14. APAC Resources' overall GF Score™ is 43/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For APAC Resources (APPCF), the current Net-Net Working Capital is $0.31 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is APAC Resources (APPCF) Overvalued in 2026?
Based on GuruFocus' analysis, APAC Resources stock appears to be overvalued.
The current stock price of $0.19 is trading 35% above its estimated GF Value™ of $0.14.
GuruFocus considers APAC Resources to be Significantly Overvalued.
Key valuation signals for APPCF:
Net-Net Working Capital: $0.31
GF Value™: $0.14 vs. price of $0.19 (35% above fair value)
Industry Position: 94% below the Capital Markets median (#16 of 291)
No single metric tells the full story. See the APPCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
APAC Resources Ltd is an investment holding company principally engaged in the commodity trading business and resource investment business. The company operates through three business segments, namely Commodity Business, which includes trading of commodities; Resource investment, which is engaged in the trading of and investment in listed and unlisted securities; and Principal investment and financial services, which engages in the provision of loan financing and investments in loan notes, convertible notes, and other financial assets. The company generates maximum revenue from the Commodity Business segment. It operates in Hong Kong, the PRC, Australia, and the Philippines, with the majority of its revenue coming from the PRC.
43GF Score
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