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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.
CBL International's Net-Net Working Capital for the quarter that ended in Jun. 2026 was $-5.89.
The industry rank for CBL International's Net-Net Working Capital or its related term are showing as below:
BANL's Price-to-Net-Net-Working-Capital is not ranked *
in the Oil & Gas industry.
Industry Median: 6.27 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
CBL International (NAS:BANL) 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.
CBL International Net-Net Working Capital Related Terms
CBL International Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for CBL International'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.
BANL vs MARPS, TOPS, RBNE: Net-Net Working Capital Comparison
For the Oil & Gas Midstream subindustry, CBL International'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.
CBL International Price-to-Net-Net-Working-Capital vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, CBL International's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where CBL International'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 $-5.89 mean?
CBL International (BANL) has a Net-Net Working Capital of $-5.89 as of Jun. 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 CBL International According to the industry distribution chart, CBL International ranks #999999 out of 196 companies in the Oil & Gas industry.
Is CBL International's Net-Net Working Capital too high?
CBL International's current Net-Net Working Capital is $-5.89. Based on the distribution chart, CBL International ranks #999999 out of 196 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, CBL International has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CBL International's Net-Net Working Capital compare to MARPS and TOPS?
According to the Oil & Gas industry distribution chart, CBL International ranks #999999 out of 196 companies for Net-Net Working Capital. This places CBL International in the lower half of its industry. The industry median Net-Net Working Capital is 6.27. 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 Oil & Gas company?
The median Net-Net Working Capital among Oil & Gas companies is 6.27, based on 196 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 CBL International For the Oil & Gas industry, the median Net-Net Working Capital is 6.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CBL International's current Net-Net Working Capital is $-5.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CBL International stock overvalued right now?
Based on GuruFocus' analysis, CBL International (BANL) is currently considered Fairly Valued. The stock's GF Value™ is $14.21, compared to a current price of $13.70 — trading 3.6% below its estimated fair value. The current Net-Net Working Capital is $-5.89. CBL International's overall GF Score™ is 79/100 with 5 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 CBL International (BANL), the current Net-Net Working Capital is $-5.89 as of Jun. 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 CBL International (BANL) Overvalued in 2026?
Based on GuruFocus' analysis, CBL International stock appears to be undervalued.
The current stock price of $13.70 is trading 3.6% below its estimated GF Value™ of $14.21.
GuruFocus considers CBL International to be Fairly Valued.
Key valuation signals for BANL:
Net-Net Working Capital: $-5.89
GF Value™: $14.21 vs. price of $13.70 (3.6% below fair value)
No single metric tells the full story. See the BANL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CBL International Ltd is a marine fuel logistics company that provides a one-stop solution for vessel refueling. In the bunkering industry, it is referred to as a bunkering facilitator. It facilitates vessel refueling between ship operators and local physical distributors/traders by purchasing marine fuel, including fossil fuel and alternative fuel, from its suppliers and arranging for the suppliers to deliver the fuel to the customers. The company's customer base comprises container liners, bulk carriers, and tankers. Geographically, the company generates a majority of its revenue from China, followed by Hong Kong, Malaysia, Singapore, South Korea, and other regions.
79GF Score
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