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WAM Strategic ValueASX:WAR 56 Net-Net Working Capital is A$1.28 as of Dec. 2025. GuruFocus rates ASX:WAR with a GF Score™ of 56/100 and a GF Value™ of A$1.21 (Fairly Valued). The stock has 3 warning signs investors should review. Among 497 Asset Management companies, WAM Strategic Value ranks better than 90.74% 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.
WAM Strategic Value's Net-Net Working Capital for the quarter that ended in Dec. 2025 was A$1.28.
The industry rank for WAM Strategic Value's Net-Net Working Capital or its related term are showing as below:
ASX:WAR's Price-to-Net-Net-Working-Capital is ranked better than 90.74% of 497
companies
in the Asset Management industry
Industry Median: 6.19
vs ASX:WAR: 0.86
WAM Strategic Value (ASX:WAR) 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.
WAM Strategic Value Net-Net Working Capital Related Terms
WAM Strategic Value Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for WAM Strategic Value'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.
ASX:WAR vs BLK, BX, KKR: Net-Net Working Capital Comparison
For the Asset Management subindustry, WAM Strategic Value'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.
WAM Strategic Value Price-to-Net-Net-Working-Capital vs Asset Management Industry
For the Asset Management industry and Financial Services sector, WAM Strategic Value's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where WAM Strategic Value'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$1.28 mean?
WAM Strategic Value (ASX:WAR) has a Net-Net Working Capital of A$1.28 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 WAM Strategic Value According to the industry distribution chart, WAM Strategic Value ranks #46 out of 497 companies in the Asset Management industry, placing it in the top 9.3%.
Is WAM Strategic Value's Net-Net Working Capital too high?
WAM Strategic Value's current Net-Net Working Capital is A$1.28. Based on the distribution chart, WAM Strategic Value ranks #46 out of 497 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, WAM Strategic Value has a GF Score™ of 56/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does WAM Strategic Value's Net-Net Working Capital compare to BLK and BX?
According to the Asset Management industry distribution chart, WAM Strategic Value ranks #46 out of 497 companies for Net-Net Working Capital. This places WAM Strategic Value in the top 9% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 6.19. 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 an Asset Management company?
The median Net-Net Working Capital among Asset Management companies is 6.19, based on 497 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 WAM Strategic Value For the Asset Management industry, the median Net-Net Working Capital is 6.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WAM Strategic Value's current Net-Net Working Capital is A$1.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WAM Strategic Value stock overvalued right now?
Based on GuruFocus' analysis, WAM Strategic Value (ASX:WAR) is currently considered Fairly Valued. The stock's GF Value™ is A$1.21, compared to a current price of A$1.10 — trading 9.1% below its estimated fair value. The current Net-Net Working Capital is A$1.28. WAM Strategic Value's overall GF Score™ is 56/100 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 WAM Strategic Value (ASX:WAR), the current Net-Net Working Capital is A$1.28 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 WAM Strategic Value (ASX:WAR) Overvalued in 2026?
Based on GuruFocus' analysis, WAM Strategic Value stock appears to be undervalued.
The current stock price of A$1.10 is trading 9.1% below its estimated GF Value™ of A$1.21.
GuruFocus considers WAM Strategic Value to be Fairly Valued.
Key valuation signals for ASX:WAR:
Net-Net Working Capital: A$1.28
GF Value™: A$1.21 vs. price of A$1.10 (9.1% below fair value)
No single metric tells the full story. See the ASX:WAR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WAM Strategic Value Ltd is an investment company. The company is engaged in investing activities, including cash, term deposits, and equity investments. Its investment objectives are to provide capital growth over the medium-to-long term, deliver a stream of dividends, and preserve capital while providing shareholders with exposure to a diversified equities portfolio.
56GF Score
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