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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.
Almacenes Exito's Net-Net Working Capital for the quarter that ended in Mar. 2026 was COP-5,275.73.
The industry rank for Almacenes Exito's Net-Net Working Capital or its related term are showing as below:
BOG:EXITO's Price-to-Net-Net-Working-Capital is not ranked *
in the Retail - Cyclical industry.
Industry Median: 6.11 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Almacenes Exito (BOG:EXITO) 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.
Almacenes Exito Net-Net Working Capital Related Terms
Almacenes Exito Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Almacenes Exito'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.
BOG:EXITO vs DDS, M: Net-Net Working Capital Comparison
For the Department Stores subindustry, Almacenes Exito'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.
Almacenes Exito Price-to-Net-Net-Working-Capital vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Almacenes Exito's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Almacenes Exito'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 COP-5,275.73 mean?
Almacenes Exito (BOG:EXITO) has a Net-Net Working Capital of COP-5,275.73 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 Almacenes Exito According to the industry distribution chart, Almacenes Exito ranks #999999 out of 329 companies in the Retail - Cyclical industry.
Is Almacenes Exito's Net-Net Working Capital too high?
Almacenes Exito's current Net-Net Working Capital is COP-5,275.73. Based on the distribution chart, Almacenes Exito ranks #999999 out of 329 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Almacenes Exito has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Almacenes Exito's Net-Net Working Capital compare to DDS and M?
According to the Retail - Cyclical industry distribution chart, Almacenes Exito ranks #999999 out of 329 companies for Net-Net Working Capital. This places Almacenes Exito in the lower half of its industry. The industry median Net-Net Working Capital is 6.11. 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 Retail - Cyclical company?
The median Net-Net Working Capital among Retail - Cyclical companies is 6.11, based on 329 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 Almacenes Exito For the Retail - Cyclical industry, the median Net-Net Working Capital is 6.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Almacenes Exito's current Net-Net Working Capital is COP-5,275.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Almacenes Exito stock overvalued right now?
Based on GuruFocus' analysis, Almacenes Exito (BOG:EXITO) is currently considered Significantly Overvalued. The stock's GF Value™ is COP2,860.13, compared to a current price of COP4,550.00 — trading 59.1% above its estimated fair value. The current Net-Net Working Capital is COP-5,275.73. Almacenes Exito's overall GF Score™ is 76/100 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 Almacenes Exito (BOG:EXITO), the current Net-Net Working Capital is COP-5,275.73 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 Almacenes Exito (BOG:EXITO) Overvalued in 2026?
Based on GuruFocus' analysis, Almacenes Exito stock appears to be overvalued.
The current stock price of COP4,550.00 is trading 59.1% above its estimated GF Value™ of COP2,860.13.
GuruFocus considers Almacenes Exito to be Significantly Overvalued.
Key valuation signals for BOG:EXITO:
Net-Net Working Capital: COP-5,275.73
GF Value™: COP2,860.13 vs. price of COP4,550.00 (59.1% above fair value)
No single metric tells the full story. See the BOG:EXITO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Almacenes Exito SA is a Colombian retailer that operates in its homeland and overseas. The company operates under three reportable segments Grupo Exito, Carulla, Low cost, and others in Colombia; Libertad in Argentina; and Disco, Devoto, and Geant chains in Uruguay. Exito has an omnichannel, multiformat, and multibrand model. Its store offerings include groceries and food, clothing, home appliances, oil-based liquid fuels, biofuels, personal care products, and home entertainment electronic and digital products.
76GF Score
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