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.
Avino Silver & Gold Mines's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $0.66.
The industry rank for Avino Silver & Gold Mines's Net-Net Working Capital or its related term are showing as below:
ASM's Price-to-Net-Net-Working-Capital is ranked worse than 60.39% of 1121
companies
in the Metals & Mining industry
Industry Median: 7.17
vs ASM: 9.10
Avino Silver & Gold Mines (AMEX:ASM) 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.
Avino Silver & Gold Mines Net-Net Working Capital Related Terms
Avino Silver & Gold Mines Net-Net Working Capital Historical Data
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The historical data trend for Avino Silver & Gold Mines'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.
Avino Silver & Gold Mines Net-Net Working Capital Chart
For the Other Precious Metals & Mining subindustry, Avino Silver & Gold Mines'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.
Avino Silver & Gold Mines Price-to-Net-Net-Working-Capital vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Avino Silver & Gold Mines's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Avino Silver & Gold Mines'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 $0.66 mean?
Avino Silver & Gold Mines (ASM) has a Net-Net Working Capital of $0.66 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 Avino Silver & Gold Mines According to the industry distribution chart, Avino Silver & Gold Mines ranks #677 out of 1121 companies in the Metals & Mining industry, placing it in the top 60.4%.
Is Avino Silver & Gold Mines' Net-Net Working Capital too high?
Avino Silver & Gold Mines' current Net-Net Working Capital is $0.66. The Metals & Mining industry median Net-Net Working Capital is 7.17. Avino Silver & Gold Mines' value of $0.66 is 90.8% below this industry median. Based on the distribution chart, Avino Silver & Gold Mines ranks #677 out of 1121 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Avino Silver & Gold Mines has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Avino Silver & Gold Mines' Net-Net Working Capital compare to HL?
According to the Metals & Mining industry distribution chart, Avino Silver & Gold Mines ranks #677 out of 1121 companies for Net-Net Working Capital. This places Avino Silver & Gold Mines in the lower half of its industry. The industry median Net-Net Working Capital is 7.17. Avino Silver & Gold Mines' value of $0.66 is 90.8% 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 Metals & Mining company?
The median Net-Net Working Capital among Metals & Mining companies is 7.17, based on 1,121 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. Avino Silver & Gold Mines's current Net-Net Working Capital of $0.66 is 90.8% 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 Avino Silver & Gold Mines For the Metals & Mining industry, the median Net-Net Working Capital is 7.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Avino Silver & Gold Mines's current Net-Net Working Capital is $0.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Avino Silver & Gold Mines stock overvalued right now?
Based on GuruFocus' analysis, Avino Silver & Gold Mines (ASM) is currently considered Significantly Overvalued. The stock's GF Value™ is $2.12, compared to a current price of $5.73 — trading 170.3% above its estimated fair value. The current Net-Net Working Capital is $0.66 and 90.8% below the Metals & Mining industry median of 7.17. Avino Silver & Gold Mines' overall GF Score™ is 78/100 with 1 warning sign 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 Avino Silver & Gold Mines (ASM), the current Net-Net Working Capital is $0.66 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.
Is Avino Silver & Gold Mines (ASM) Overvalued in 2026?
Based on GuruFocus' analysis, Avino Silver & Gold Mines stock appears to be overvalued.
The current stock price of $5.73 is trading 170.3% above its estimated GF Value™ of $2.12.
GuruFocus considers Avino Silver & Gold Mines to be Significantly Overvalued.
Key valuation signals for ASM:
Net-Net Working Capital: $0.66
GF Value™: $2.12 vs. price of $5.73 (170.3% above fair value)
Industry Position: 90.8% below the Metals & Mining median (#677 of 1121)
No single metric tells the full story. See the ASM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Avino Silver & Gold Mines Ltd is a mineral resource company. It is engaged in the exploration, extraction, and processing of silver, gold, and copper and the acquisition, exploration, and advancement of mineral properties. The company generates majority of its revenues through the sale of Copper produced from its mines. Its project portfolio includes Avino; San Gonzalo; Oxide Tailings; Bralorne Gold and others.
78GF Score
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