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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.
Atour Lifestyle Holdings's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $1.27.
The industry rank for Atour Lifestyle Holdings's Net-Net Working Capital or its related term are showing as below:
ATAT's Price-to-Net-Net-Working-Capital is ranked worse than 81.4% of 215
companies
in the Travel & Leisure industry
Industry Median: 6.66
vs ATAT: 26.91
Atour Lifestyle Holdings (NAS:ATAT) 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.
Atour Lifestyle Holdings Net-Net Working Capital Related Terms
Atour Lifestyle Holdings Net-Net Working Capital Historical Data
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The historical data trend for Atour Lifestyle Holdings'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.
Atour Lifestyle Holdings Net-Net Working Capital Chart
ATAT vs CHH, WH, CVEO: Net-Net Working Capital Comparison
For the Lodging subindustry, Atour Lifestyle 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.
Atour Lifestyle Holdings Price-to-Net-Net-Working-Capital vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Atour Lifestyle Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Atour Lifestyle 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 $1.27 mean?
Atour Lifestyle Holdings (ATAT) has a Net-Net Working Capital of $1.27 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 Atour Lifestyle Holdings According to the industry distribution chart, Atour Lifestyle Holdings ranks #175 out of 215 companies in the Travel & Leisure industry, placing it in the top 81.4%.
Is Atour Lifestyle Holdings' Net-Net Working Capital too high?
Atour Lifestyle Holdings' current Net-Net Working Capital is $1.27. The Travel & Leisure industry median Net-Net Working Capital is 6.66. Atour Lifestyle Holdings' value of $1.27 is 80.9% below this industry median. Based on the distribution chart, Atour Lifestyle Holdings ranks #175 out of 215 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Atour Lifestyle Holdings has a GF Score™ of 82/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Atour Lifestyle Holdings' Net-Net Working Capital compare to CHH and WH?
According to the Travel & Leisure industry distribution chart, Atour Lifestyle Holdings ranks #175 out of 215 companies for Net-Net Working Capital. This places Atour Lifestyle Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 6.66. Atour Lifestyle Holdings' value of $1.27 is 80.9% 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 Travel & Leisure company?
The median Net-Net Working Capital among Travel & Leisure companies is 6.66, based on 215 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. Atour Lifestyle Holdings's current Net-Net Working Capital of $1.27 is 80.9% 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 Atour Lifestyle Holdings For the Travel & Leisure industry, the median Net-Net Working Capital is 6.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Atour Lifestyle Holdings's current Net-Net Working Capital is $1.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Atour Lifestyle Holdings stock overvalued right now?
Based on GuruFocus' analysis, Atour Lifestyle Holdings (ATAT) is currently considered Significantly Undervalued. The stock's GF Value™ is $51.50, compared to a current price of $34.18 — trading 33.6% below its estimated fair value. The current Net-Net Working Capital is $1.27 and 80.9% below the Travel & Leisure industry median of 6.66. Atour Lifestyle Holdings' overall GF Score™ is 82/100. 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 Atour Lifestyle Holdings (ATAT), the current Net-Net Working Capital is $1.27 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 Atour Lifestyle Holdings (ATAT) Overvalued in 2026?
Based on GuruFocus' analysis, Atour Lifestyle Holdings stock appears to be undervalued.
The current stock price of $34.18 is trading 33.6% below its estimated GF Value™ of $51.50.
GuruFocus considers Atour Lifestyle Holdings to be Significantly Undervalued.
Key valuation signals for ATAT:
Net-Net Working Capital: $1.27
GF Value™: $51.50 vs. price of $34.18 (33.6% below fair value)
Industry Position: 80.9% below the Travel & Leisure median (#175 of 215)
No single metric tells the full story. See the ATAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Atour Lifestyle Holdings Ltd is an upper-midscale hotel chain in China. The company derives revenues from franchise and management fees from its manachised hotels and sales of hotel supplies to manachised hotels, Operations of leased hotels, and sales of retail products. The company has one operating segment, which is the Atour Group.
82GF Score
Get the complete analysis for ATAT
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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