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Marisa LojasBSP:AMAR3 +1.75%26 Net-Net Working Capital is R$-3.39 as of Mar. 2026. GuruFocus rates BSP:AMAR3 with a GF Score™ of 26/100 and a GF Value™ of R$0.34 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 330 Retail - Cyclical companies, Marisa Lojas ranks worse than 303030% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Marisa Lojas's Net-Net Working Capital for the quarter that ended in Mar. 2026 was R$-3.39.
The industry rank for Marisa Lojas's Net-Net Working Capital or its related term are showing as below:
BSP:AMAR3's Price-to-Net-Net-Working-Capital is not ranked *
in the Retail - Cyclical industry.
Industry Median: 6.125 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Marisa Lojas (BSP:AMAR3) 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.
Marisa Lojas Net-Net Working Capital Related Terms
Marisa Lojas Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Marisa Lojas'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.
BSP:AMAR3 vs TJX, ROST, BURL: Net-Net Working Capital Comparison
For the Apparel Retail subindustry, Marisa Lojas'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.
Marisa Lojas Price-to-Net-Net-Working-Capital vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Marisa Lojas's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Marisa Lojas'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 R$-3.39 mean?
Marisa Lojas (BSP:AMAR3) has a Net-Net Working Capital of R$-3.39 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 Marisa Lojas According to the industry distribution chart, Marisa Lojas ranks #999999 out of 330 companies in the Retail - Cyclical industry.
Is Marisa Lojas' Net-Net Working Capital too high?
Marisa Lojas' current Net-Net Working Capital is R$-3.39. Based on the distribution chart, Marisa Lojas ranks #999999 out of 330 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Marisa Lojas has a GF Score™ of 26/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Marisa Lojas' Net-Net Working Capital compare to TJX and ROST?
According to the Retail - Cyclical industry distribution chart, Marisa Lojas ranks #999999 out of 330 companies for Net-Net Working Capital. This places Marisa Lojas in the lower half of its industry. The industry median Net-Net Working Capital is 6.13. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Retail - Cyclical company?
The median Net-Net Working Capital among Retail - Cyclical companies is 6.13, based on 330 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Marisa Lojas For the Retail - Cyclical industry, the median Net-Net Working Capital is 6.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Marisa Lojas's current Net-Net Working Capital is R$-3.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Marisa Lojas stock overvalued right now?
Based on GuruFocus' analysis, Marisa Lojas (BSP:AMAR3) is currently considered Significantly Overvalued. The stock's GF Value™ is R$0.34, compared to a current price of R$0.58 — trading 70.6% above its estimated fair value. The current Net-Net Working Capital is R$-3.39. Marisa Lojas' overall GF Score™ is 26/100 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 Marisa Lojas (BSP:AMAR3), the current Net-Net Working Capital is R$-3.39 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 Marisa Lojas (BSP:AMAR3) Overvalued in 2026?
Based on GuruFocus' analysis, Marisa Lojas stock appears to be overvalued.
The current stock price of R$0.58 is trading 70.6% above its estimated GF Value™ of R$0.34.
GuruFocus considers Marisa Lojas to be Significantly Overvalued.
Key valuation signals for BSP:AMAR3:
Net-Net Working Capital: R$-3.39
GF Value™: R$0.34 vs. price of R$0.58 (70.6% above fair value)
No single metric tells the full story. See the BSP:AMAR3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Marisa Lojas SA is a retail store operator in Brazil. Its stores offer products related to fashion, underwear, footwear, and accessories for women, men, and children. Its products also include beds, tablecloths, children's bathrobes, and towels for home use. The company's income derives from three operating segments. The retail segment, which is the key revenue generator, includes the sale of clothing items, perfumes, beauty products, and watches, in physical stores and e-commerce. The credit card transactions segment is managed by the subsidiary and offered to the company's clients for the credit purchase of products, insurance, and payment of bills. The consumer credit segment offers personal loans to the company's consumers.
26GF Score
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