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Alpha Divisions PCLBKK:ALPHAX 23 Net-Net Working Capital is ฿0.25 as of Jun. 2026. GuruFocus rates BKK:ALPHAX with a GF Score™ of 23/100 and a GF Value™ of ฿0.65 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 60 Utilities - Independent Power Producers companies, Alpha Divisions PCL ranks better than 91.67% 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.
Alpha Divisions PCL's Net-Net Working Capital for the quarter that ended in Jun. 2026 was ฿0.25.
The industry rank for Alpha Divisions PCL's Net-Net Working Capital or its related term are showing as below:
BKK:ALPHAX's Price-to-Net-Net-Working-Capital is ranked better than 91.67% of 60
companies
in the Utilities - Independent Power Producers industry
Industry Median: 5.405
vs BKK:ALPHAX: 1.05
Alpha Divisions PCL (BKK:ALPHAX) 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.
Alpha Divisions PCL Net-Net Working Capital Related Terms
Alpha Divisions PCL Net-Net Working Capital Historical Data
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The historical data trend for Alpha Divisions PCL'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.
Alpha Divisions PCL Net-Net Working Capital Competitor Comparison
For the Utilities - Renewable subindustry, Alpha Divisions PCL'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.
Alpha Divisions PCL Price-to-Net-Net-Working-Capital vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Alpha Divisions PCL's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Alpha Divisions PCL'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 ฿0.25 mean?
Alpha Divisions PCL (BKK:ALPHAX) has a Net-Net Working Capital of ฿0.25 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 Alpha Divisions PCL According to the industry distribution chart, Alpha Divisions PCL ranks #5 out of 60 companies in the Utilities - Independent Power Producers industry, placing it in the top 8.3%.
Is Alpha Divisions PCL's Net-Net Working Capital too high?
Alpha Divisions PCL's current Net-Net Working Capital is ฿0.25. Based on the distribution chart, Alpha Divisions PCL ranks #5 out of 60 companies in the Utilities - Independent Power Producers industry, which is in the top quartile — a strong position relative to peers. Overall, Alpha Divisions PCL has a GF Score™ of 23/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Alpha Divisions PCL's Net-Net Working Capital compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Alpha Divisions PCL ranks #5 out of 60 companies for Net-Net Working Capital. This places Alpha Divisions PCL in the top 8% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 5.41. 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 Utilities - Independent Power Producers company?
The median Net-Net Working Capital among Utilities - Independent Power Producers companies is 5.41, based on 60 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 Alpha Divisions PCL For the Utilities - Independent Power Producers industry, the median Net-Net Working Capital is 5.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Alpha Divisions PCL's current Net-Net Working Capital is ฿0.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Alpha Divisions PCL stock overvalued right now?
Based on GuruFocus' analysis, Alpha Divisions PCL (BKK:ALPHAX) is currently considered Possible Value Trap. The stock's GF Value™ is ฿0.65, compared to a current price of ฿0.23 — trading 64.6% below its estimated fair value. The current Net-Net Working Capital is ฿0.25. Alpha Divisions PCL's overall GF Score™ is 23/100 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 Alpha Divisions PCL (BKK:ALPHAX), the current Net-Net Working Capital is ฿0.25 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 Alpha Divisions PCL (BKK:ALPHAX) Overvalued in 2026?
Based on GuruFocus' analysis, Alpha Divisions PCL stock appears to be undervalued.
The current stock price of ฿0.23 is trading 64.6% below its estimated GF Value™ of ฿0.65.
GuruFocus considers Alpha Divisions PCL to be Possible Value Trap.
Key valuation signals for BKK:ALPHAX:
Net-Net Working Capital: ฿0.25
GF Value™: ฿0.65 vs. price of ฿0.23 (64.6% below fair value)
No single metric tells the full story. See the BKK:ALPHAX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Alpha Divisions PCL and its subsidiary (the Group) is engaged in 2 principal businesses as follows:- Energy business is a producer, distributor, agent for selling electricity from solar energy, wind, water, or others, and other business includes motorcycles, cars, gold, agricultural equipment hire purchase business, and microfinance business in the Lao People's Democratic Republic (Lao PDR). The majority of its revenue is generated from the Energy business. The Group operates the business carried out in the geographic area in domestic and foreign markets.
23GF Score
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