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Bhagwan MarineASX:BWN 18 Net-Net Working Capital is A$-0.24 as of Dec. 2025. GuruFocus rates ASX:BWN with a GF Score™ of 18/100. The stock has 4 warning signs investors should review. Among 218 Transportation companies, Bhagwan Marine ranks worse than 458715.14% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Bhagwan Marine's Net-Net Working Capital for the quarter that ended in Dec. 2025 was A$-0.24.
The industry rank for Bhagwan Marine's Net-Net Working Capital or its related term are showing as below:
ASX:BWN's Price-to-Net-Net-Working-Capital is not ranked *
in the Transportation industry.
Industry Median: 6.025 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Bhagwan Marine (ASX:BWN) 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.
Bhagwan Marine Net-Net Working Capital Related Terms
Bhagwan Marine Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Bhagwan Marine'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.
Bhagwan Marine Net-Net Working Capital Competitor Comparison
For the Marine Shipping subindustry, Bhagwan Marine'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.
Bhagwan Marine Price-to-Net-Net-Working-Capital vs Transportation Industry
For the Transportation industry and Industrials sector, Bhagwan Marine's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Bhagwan Marine'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$-0.24 mean?
Bhagwan Marine (ASX:BWN) has a Net-Net Working Capital of A$-0.24 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 Bhagwan Marine According to the industry distribution chart, Bhagwan Marine ranks #999999 out of 218 companies in the Transportation industry.
Is Bhagwan Marine's Net-Net Working Capital too high?
Bhagwan Marine's current Net-Net Working Capital is A$-0.24. Based on the distribution chart, Bhagwan Marine ranks #999999 out of 218 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Bhagwan Marine has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Bhagwan Marine's Net-Net Working Capital compare to competitors?
According to the Transportation industry distribution chart, Bhagwan Marine ranks #999999 out of 218 companies for Net-Net Working Capital. This places Bhagwan Marine in the lower half of its industry. The industry median Net-Net Working Capital is 6.03. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Transportation company?
The median Net-Net Working Capital among Transportation companies is 6.03, based on 218 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Bhagwan Marine For the Transportation industry, the median Net-Net Working Capital is 6.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bhagwan Marine's current Net-Net Working Capital is A$-0.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bhagwan Marine stock overvalued right now?
Bhagwan Marine (ASX:BWN) has a current Net-Net Working Capital of A$-0.24. The current Net-Net Working Capital is A$-0.24. Bhagwan Marine's overall GF Score™ is 18/100 with 4 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 Bhagwan Marine (ASX:BWN), the current Net-Net Working Capital is A$-0.24 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.
Bhagwan Marine Ltd is a marine vessel operator and service provider. It is engaged in operating a diverse range of vessels providing marine solutions across the offshore energy, subsea, ports and inshore, and defence sectors. The group has a diverse fleet of purpose-built charter vessels and marine assets available for hire, including ASD harbour tugs, coastal towage tugs, anchor handling tug supply, multicats, dive support vessels, landing craft, crew transfer vessels, and utility vessels, among others. In addition, it provides various marine services such as ROV support, coastal freight, transshipping, vessel line handling, general underwater construction, oil field support services, etc. Geographically, the group derives a majority of its revenue from Australia.
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