Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Butterfly NetworkBFLY +4.14%58 Net-Net Working Capital is $0.33 as of Jun. 2026. GuruFocus rates BFLY with a GF Score™ of 58/100 and a GF Value™ of $2.45 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 408 Medical Devices & Instruments companies, Butterfly Network ranks worse than 85.54% 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.
Butterfly Network's Net-Net Working Capital for the quarter that ended in Jun. 2026 was $0.33.
The industry rank for Butterfly Network's Net-Net Working Capital or its related term are showing as below:
BFLY's Price-to-Net-Net-Working-Capital is ranked worse than 85.54% of 408
companies
in the Medical Devices & Instruments industry
Industry Median: 7.11
vs BFLY: 28.94
Butterfly Network (NYSE:BFLY) 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.
Butterfly Network Net-Net Working Capital Related Terms
Butterfly Network Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Butterfly Network'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.
BFLY vs ALMR, UFPT, ENOV: Net-Net Working Capital Comparison
For the Medical Devices subindustry, Butterfly Network'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.
Butterfly Network Price-to-Net-Net-Working-Capital vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Butterfly Network's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Butterfly Network'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 $0.33 mean?
Butterfly Network (BFLY) has a Net-Net Working Capital of $0.33 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 Butterfly Network According to the industry distribution chart, Butterfly Network ranks #349 out of 408 companies in the Medical Devices & Instruments industry, placing it in the top 85.5%.
Is Butterfly Network's Net-Net Working Capital too high?
Butterfly Network's current Net-Net Working Capital is $0.33. The Medical Devices & Instruments industry median Net-Net Working Capital is 7.11. Butterfly Network's value of $0.33 is 95.4% below this industry median. Based on the distribution chart, Butterfly Network ranks #349 out of 408 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Butterfly Network has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Butterfly Network's Net-Net Working Capital compare to ALMR and UFPT?
According to the Medical Devices & Instruments industry distribution chart, Butterfly Network ranks #349 out of 408 companies for Net-Net Working Capital. This places Butterfly Network in the lower half of its industry. The industry median Net-Net Working Capital is 7.11. Butterfly Network's value of $0.33 is 95.4% 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 Medical Devices & Instruments company?
The median Net-Net Working Capital among Medical Devices & Instruments companies is 7.11, based on 408 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. Butterfly Network's current Net-Net Working Capital of $0.33 is 95.4% 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 Butterfly Network For the Medical Devices & Instruments industry, the median Net-Net Working Capital is 7.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Butterfly Network's current Net-Net Working Capital is $0.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Butterfly Network stock overvalued right now?
Based on GuruFocus' analysis, Butterfly Network (BFLY) is currently considered Significantly Overvalued. The stock's GF Value™ is $2.45, compared to a current price of $9.55 — trading 289.8% above its estimated fair value. The current Net-Net Working Capital is $0.33 and 95.4% below the Medical Devices & Instruments industry median of 7.11. Butterfly Network's overall GF Score™ is 58/100 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 Butterfly Network (BFLY), the current Net-Net Working Capital is $0.33 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 Butterfly Network (BFLY) Overvalued in 2026?
Based on GuruFocus' analysis, Butterfly Network stock appears to be overvalued.
The current stock price of $9.55 is trading 289.8% above its estimated GF Value™ of $2.45.
GuruFocus considers Butterfly Network to be Significantly Overvalued.
Key valuation signals for BFLY:
Net-Net Working Capital: $0.33
GF Value™: $2.45 vs. price of $9.55 (289.8% above fair value)
Industry Position: 95.4% below the Medical Devices & Instruments median (#349 of 408)
No single metric tells the full story. See the BFLY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Butterfly Network Inc is a digital health business transforming care with handheld, whole-body ultrasound. Powered by its proprietary Ultrasound-on-Chip technology, its solution enables the acquisition of imaging information from an affordable, powerful device that fits in a healthcare professional's pocket with a combination of cloud-connected software and hardware technology that is easily accessed through a mobile application. Butterfly iQ+ is an ultrasound device that can perform whole-body imaging in a single handheld probe using semiconductor technology. The company operates in one reportable segment, which includes all activities related to the development, manufacture, and sale of the Company's products, software, and other services.
58GF Score
Get the complete analysis for BFLY
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BFLY has been successfully added to your 
