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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.
The industry rank for APM Terminals Bahrain BSC (c)'s Net-Net Working Capital or its related term are showing as below:
BAH:APMTB's Price-to-Net-Net-Working-Capital is not ranked *
in the Construction industry.
Industry Median: 6.33 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
APM Terminals Bahrain BSC (c) (BAH:APMTB) 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.
APM Terminals Bahrain BSC (c) Net-Net Working Capital Related Terms
APM Terminals Bahrain BSC (c) 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.
APM Terminals Bahrain BSC (c) Net-Net Working Capital Chart
APM Terminals Bahrain BSC (c) Net-Net Working Capital Competitor Comparison
For the Infrastructure Operations subindustry, APM Terminals Bahrain BSC (c)'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.
APM Terminals Bahrain BSC (c) Price-to-Net-Net-Working-Capital vs Construction Industry
For the Construction industry and Industrials sector, APM Terminals Bahrain BSC (c)'s Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where APM Terminals Bahrain BSC (c)'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 BHD-0.35 mean?
APM Terminals Bahrain BSC (c) (BAH:APMTB) has a Net-Net Working Capital of BHD-0.35 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 APM Terminals Bahrain BSC (c) According to the industry distribution chart, APM Terminals Bahrain BSC (c) ranks #999999 out of 479 companies in the Construction industry.
Is APM Terminals Bahrain BSC (c)'s Net-Net Working Capital too high?
APM Terminals Bahrain BSC (c)'s current Net-Net Working Capital is BHD-0.35. Based on the distribution chart, APM Terminals Bahrain BSC (c) ranks #999999 out of 479 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, APM Terminals Bahrain BSC (c) has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does APM Terminals Bahrain BSC (c)'s Net-Net Working Capital compare to competitors?
According to the Construction industry distribution chart, APM Terminals Bahrain BSC (c) ranks #999999 out of 479 companies for Net-Net Working Capital. This places APM Terminals Bahrain BSC (c) in the lower half of its industry. The industry median Net-Net Working Capital is 6.33. 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 Construction company?
The median Net-Net Working Capital among Construction companies is 6.33, based on 479 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 APM Terminals Bahrain BSC (c) For the Construction industry, the median Net-Net Working Capital is 6.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. APM Terminals Bahrain BSC (c)'s current Net-Net Working Capital is BHD-0.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is APM Terminals Bahrain BSC (c) stock overvalued right now?
Based on GuruFocus' analysis, APM Terminals Bahrain BSC (c) (BAH:APMTB) is currently considered Modestly Undervalued. The stock's GF Value™ is BHD1.11, compared to a current price of BHD0.89 — trading 19.7% below its estimated fair value. The current Net-Net Working Capital is BHD-0.35. APM Terminals Bahrain BSC (c)'s overall GF Score™ is 82/100 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 APM Terminals Bahrain BSC (c) (BAH:APMTB), the current Net-Net Working Capital is BHD-0.35 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 APM Terminals Bahrain BSC (c) (BAH:APMTB) Overvalued in 2026?
Based on GuruFocus' analysis, APM Terminals Bahrain BSC (c) stock appears to be undervalued.
The current stock price of BHD0.89 is trading 19.7% below its estimated GF Value™ of BHD1.11.
GuruFocus considers APM Terminals Bahrain BSC (c) to be Modestly Undervalued.
Key valuation signals for BAH:APMTB:
Net-Net Working Capital: BHD-0.35
GF Value™: BHD1.11 vs. price of BHD0.89 (19.7% below fair value)
No single metric tells the full story. See the BAH:APMTB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
APM Terminals Bahrain BSC (c) operates Khalifa Bin Salman Port and is a multi-purpose facility for domestic cargo, cruise traffic, and a trans-shipment hub for the growing Gulf shipping market. Services offered by the company include the provision of container operations, general cargo, marine, logistical services, online services, container terminal, general cargo, and cruise terminal. In addition, it also offers marine services including Full Container Loads, Less-than Container Loads, livestock, domestic export/import, transhipment, pilotage, towage, and mooring. The Company operates only in one Business Segment, i.e., Port Services, which includes services such as Container services, General Cargo services, and Marine services, and the activities incidental thereto within Bahrain.
82GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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