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Aqua MetalsAQMS +3.44%21 Net-Net Working Capital is $0.88 as of Mar. 2026. GuruFocus rates AQMS with a GF Score™ of 21/100. The stock has 3 warning signs investors should review. Among 60 Waste Management companies, Aqua Metals ranks better than 76.67% 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.
Aqua Metals's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $0.88.
The industry rank for Aqua Metals's Net-Net Working Capital or its related term are showing as below:
AQMS's Price-to-Net-Net-Working-Capital is ranked better than 76.67% of 60
companies
in the Waste Management industry
Industry Median: 6.345
vs AQMS: 3.08
Aqua Metals (NAS:AQMS) 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.
Aqua Metals Net-Net Working Capital Related Terms
Aqua Metals Net-Net Working Capital Historical Data
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The historical data trend for Aqua Metals'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.
AQMS vs AWX, OCLN, CDTG: Net-Net Working Capital Comparison
For the Waste Management subindustry, Aqua Metals'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.
Aqua Metals Price-to-Net-Net-Working-Capital vs Waste Management Industry
For the Waste Management industry and Industrials sector, Aqua Metals's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Aqua Metals'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 $0.88 mean?
Aqua Metals (AQMS) has a Net-Net Working Capital of $0.88 as of Mar. 2026. 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 Aqua Metals According to the industry distribution chart, Aqua Metals ranks #14 out of 60 companies in the Waste Management industry, placing it in the top 23.3%.
Is Aqua Metals' Net-Net Working Capital too high?
Aqua Metals' current Net-Net Working Capital is $0.88. The Waste Management industry median Net-Net Working Capital is 6.35. Aqua Metals' value of $0.88 is 86.1% below this industry median. Based on the distribution chart, Aqua Metals ranks #14 out of 60 companies in the Waste Management industry, which is in the top quartile — a strong position relative to peers. Overall, Aqua Metals has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Aqua Metals' Net-Net Working Capital compare to AWX and OCLN?
According to the Waste Management industry distribution chart, Aqua Metals ranks #14 out of 60 companies for Net-Net Working Capital. This places Aqua Metals in the top 23% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 6.35. Aqua Metals' value of $0.88 is 86.1% 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 Waste Management company?
The median Net-Net Working Capital among Waste Management companies is 6.35, based on 60 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. Aqua Metals's current Net-Net Working Capital of $0.88 is 86.1% 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 Aqua Metals For the Waste Management industry, the median Net-Net Working Capital is 6.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aqua Metals's current Net-Net Working Capital is $0.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aqua Metals stock overvalued right now?
Aqua Metals (AQMS) has a current Net-Net Working Capital of $0.88. The current Net-Net Working Capital is $0.88 and 86.1% below the Waste Management industry median of 6.35. Aqua Metals' overall GF Score™ is 21/100 with 3 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 Aqua Metals (AQMS), the current Net-Net Working Capital is $0.88 as of Mar. 2026. 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.
Aqua Metals Inc is developing and seeking to commercialize proprietary recycling and refining technologies for the recovery of critical minerals and metals. Its patented and patent-pending AquaRefining process is an electro-hydrometallurgical method designed to recover high-purity materials from battery and other metal-bearing feedstocks using a closed-loop system powered by electricity. Its idea is to reduce CAPEX and OPEX costs, reduce emissions, hazardous waste, and reliance on conventional smelting and chemical-intensive refining processes. It has one operating segment: sustainable metals recycling. It focused on the development and commercialization of AquaRefining technology for the clean and efficient recovery of valuable metals from lead-acid and lithium-ion batteries.
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