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Australian Bond Exchange HoldingsASX:ABE +15.38% Net-Net Working Capital is A$-0.05 as of Dec. 2025. The stock has 3 warning signs investors should review. Among 280 Capital Markets companies, Australian Bond Exchange Holdings ranks worse than 357142.5% 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.
ASX:ABE's Price-to-Net-Net-Working-Capital is not ranked *
in the Capital Markets industry.
Industry Median: 4.615 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Australian Bond Exchange Holdings (ASX:ABE) 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.
Australian Bond Exchange Holdings Net-Net Working Capital Related Terms
Australian Bond Exchange Holdings Net-Net Working Capital Historical Data
* 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.
Australian Bond Exchange Holdings Net-Net Working Capital Chart
Australian Bond Exchange Holdings Annual Data
Trend
Jun21
Jun22
Jun23
Jun24
Jun25
Net-Net Working Capital
0.22
0.09
0.02
-0.02
-0.04
Australian Bond Exchange Holdings Semi-Annual Data
ASX:ABE vs MS, GS, SCHW: Net-Net Working Capital Comparison
For the Capital Markets subindustry, Australian Bond Exchange Holdings'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.
Australian Bond Exchange Holdings Price-to-Net-Net-Working-Capital vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Australian Bond Exchange Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Australian Bond Exchange Holdings'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 A$-0.05 mean?
Australian Bond Exchange Holdings (ASX:ABE) has a Net-Net Working Capital of A$-0.05 as of Dec. 2025. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Australian Bond Exchange Holdings According to the industry distribution chart, Australian Bond Exchange Holdings ranks #999999 out of 280 companies in the Capital Markets industry.
Is Australian Bond Exchange Holdings' Net-Net Working Capital too high?
Australian Bond Exchange Holdings' current Net-Net Working Capital is A$-0.05. Based on the distribution chart, Australian Bond Exchange Holdings ranks #999999 out of 280 companies in the Capital Markets industry, which is in the bottom quartile relative to peers.
How does Australian Bond Exchange Holdings' Net-Net Working Capital compare to MS and GS?
According to the Capital Markets industry distribution chart, Australian Bond Exchange Holdings ranks #999999 out of 280 companies for Net-Net Working Capital. This places Australian Bond Exchange Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 4.62. 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 4.62, based on 280 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. 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 Australian Bond Exchange Holdings For the Capital Markets industry, the median Net-Net Working Capital is 4.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Australian Bond Exchange Holdings's current Net-Net Working Capital is A$-0.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Australian Bond Exchange Holdings stock overvalued right now?
Based on GuruFocus' analysis, Australian Bond Exchange Holdings (ASX:ABE) is currently considered Possible Value Trap. The stock's GF Value™ is A$0.03, compared to a current price of A$0.02 — trading 50% below its estimated fair value. The current Net-Net Working Capital is A$-0.05. 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 Australian Bond Exchange Holdings (ASX:ABE), the current Net-Net Working Capital is A$-0.05 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.
Australian Bond Exchange Holdings Ltd is engaged in provision of financial advice and dealing services in the OTC bond market to funds, ADIs and individuals and advisory services to Australian companies. The company generates revenue from Securities trading; Management fees for managing ACOF, Brokerage on transactions as part of financial advice and dealing services division; and Origination and arranging fees.
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