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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.
BSE:EFO's Price-to-Net-Net-Working-Capital is not ranked *
in the Travel & Leisure industry.
Industry Median: 6.045 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Turism Hoteluri Restaurante Marea Neagra (BSE:EFO) 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.
Turism Hoteluri Restaurante Marea Neagra Net-Net Working Capital Related Terms
Turism Hoteluri Restaurante Marea Neagra 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.
Turism Hoteluri Restaurante Marea Neagra Net-Net Working Capital Chart
Turism Hoteluri Restaurante Marea Neagra Annual Data
BSE:EFO vs LVS, MGM, WYNN: Net-Net Working Capital Comparison
For the Resorts & Casinos subindustry, Turism Hoteluri Restaurante Marea Neagra'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.
Turism Hoteluri Restaurante Marea Neagra Price-to-Net-Net-Working-Capital vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Turism Hoteluri Restaurante Marea Neagra's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Turism Hoteluri Restaurante Marea Neagra'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 lei-0.01 mean?
Turism Hoteluri Restaurante Marea Neagra (BSE:EFO) has a Net-Net Working Capital of lei-0.01 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 Turism Hoteluri Restaurante Marea Neagra According to the industry distribution chart, Turism Hoteluri Restaurante Marea Neagra ranks #999999 out of 206 companies in the Travel & Leisure industry.
Is Turism Hoteluri Restaurante Marea Neagra's Net-Net Working Capital too high?
Turism Hoteluri Restaurante Marea Neagra's current Net-Net Working Capital is lei-0.01. Based on the distribution chart, Turism Hoteluri Restaurante Marea Neagra ranks #999999 out of 206 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Turism Hoteluri Restaurante Marea Neagra has a GF Score™ of 48/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Turism Hoteluri Restaurante Marea Neagra's Net-Net Working Capital compare to LVS and MGM?
According to the Travel & Leisure industry distribution chart, Turism Hoteluri Restaurante Marea Neagra ranks #999999 out of 206 companies for Net-Net Working Capital. This places Turism Hoteluri Restaurante Marea Neagra in the lower half of its industry. The industry median Net-Net Working Capital is 6.05. 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 Travel & Leisure company?
The median Net-Net Working Capital among Travel & Leisure companies is 6.05, based on 206 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 Turism Hoteluri Restaurante Marea Neagra For the Travel & Leisure industry, the median Net-Net Working Capital is 6.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Turism Hoteluri Restaurante Marea Neagra's current Net-Net Working Capital is lei-0.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Turism Hoteluri Restaurante Marea Neagra stock overvalued right now?
Based on GuruFocus' analysis, Turism Hoteluri Restaurante Marea Neagra (BSE:EFO) is currently considered Modestly Overvalued. The stock's GF Value™ is lei0.66, compared to a current price of lei0.85 — trading 28.8% above its estimated fair value. The current Net-Net Working Capital is lei-0.01. Turism Hoteluri Restaurante Marea Neagra's overall GF Score™ is 48/100 with 6 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 Turism Hoteluri Restaurante Marea Neagra (BSE:EFO), the current Net-Net Working Capital is lei-0.01 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 Turism Hoteluri Restaurante Marea Neagra (BSE:EFO) Overvalued in 2026?
Based on GuruFocus' analysis, Turism Hoteluri Restaurante Marea Neagra stock appears to be overvalued.
The current stock price of lei0.85 is trading 28.8% above its estimated GF Value™ of lei0.66.
GuruFocus considers Turism Hoteluri Restaurante Marea Neagra to be Modestly Overvalued.
Key valuation signals for BSE:EFO:
Net-Net Working Capital: lei-0.01
GF Value™: lei0.66 vs. price of lei0.85 (28.8% above fair value)
No single metric tells the full story. See the BSE:EFO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Turism Hoteluri Restaurante Marea Neagra SA is engaged in providing tourist services. It provides resort and various types of accommodation and food services in the resorts and hotels of Black Sea resorts of Eforie Nord, Eforie Sud, Venus and Saturn. The services provided by the company are completed by the health and treatment offers in spa units situated in Bran-Brad-Bega, Balada, Hora, and Sirena. Geographically the operations are carried out through the region of Romania.
48GF Score
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