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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.
BSP:CEDO3's Price-to-Net-Net-Working-Capital is not ranked *
in the Manufacturing - Apparel & Accessories industry.
Industry Median: 5.77 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Cia de Fiacao e Tecidos Cedro e Cachoeira (BSP:CEDO3) 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.
Cia de Fiacao e Tecidos Cedro e Cachoeira Net-Net Working Capital Related Terms
Cia de Fiacao e Tecidos Cedro e Cachoeira 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.
Cia de Fiacao e Tecidos Cedro e Cachoeira Net-Net Working Capital Chart
Cia de Fiacao e Tecidos Cedro e Cachoeira Annual Data
Cia de Fiacao e Tecidos Cedro e Cachoeira Net-Net Working Capital Competitor Comparison
For the Textile Manufacturing subindustry, Cia de Fiacao e Tecidos Cedro e Cachoeira'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.
Cia de Fiacao e Tecidos Cedro e Cachoeira Price-to-Net-Net-Working-Capital vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Cia de Fiacao e Tecidos Cedro e Cachoeira's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Cia de Fiacao e Tecidos Cedro e Cachoeira'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$-41.04 mean?
Cia de Fiacao e Tecidos Cedro e Cachoeira (BSP:CEDO3) has a Net-Net Working Capital of R$-41.04 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 Cia de Fiacao e Tecidos Cedro e Cachoeira According to the industry distribution chart, Cia de Fiacao e Tecidos Cedro e Cachoeira ranks #999999 out of 375 companies in the Manufacturing - Apparel & Accessories industry.
Is Cia de Fiacao e Tecidos Cedro e Cachoeira's Net-Net Working Capital too high?
Cia de Fiacao e Tecidos Cedro e Cachoeira's current Net-Net Working Capital is R$-41.04. Based on the distribution chart, Cia de Fiacao e Tecidos Cedro e Cachoeira ranks #999999 out of 375 companies in the Manufacturing - Apparel & Accessories industry, which is in the bottom quartile relative to peers. Overall, Cia de Fiacao e Tecidos Cedro e Cachoeira has a GF Score™ of 48/100, reflecting its overall financial health beyond just this single metric.
How does Cia de Fiacao e Tecidos Cedro e Cachoeira's Net-Net Working Capital compare to competitors?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Cia de Fiacao e Tecidos Cedro e Cachoeira ranks #999999 out of 375 companies for Net-Net Working Capital. This places Cia de Fiacao e Tecidos Cedro e Cachoeira in the lower half of its industry. The industry median Net-Net Working Capital is 5.77. 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 Manufacturing - Apparel & Accessories company?
The median Net-Net Working Capital among Manufacturing - Apparel & Accessories companies is 5.77, based on 375 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 Cia de Fiacao e Tecidos Cedro e Cachoeira For the Manufacturing - Apparel & Accessories industry, the median Net-Net Working Capital is 5.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cia de Fiacao e Tecidos Cedro e Cachoeira's current Net-Net Working Capital is R$-41.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cia de Fiacao e Tecidos Cedro e Cachoeira stock overvalued right now?
Cia de Fiacao e Tecidos Cedro e Cachoeira (BSP:CEDO3) has a current Net-Net Working Capital of R$-41.04. The stock's GF Value™ is R$16.82, compared to a current price of R$9.00 — trading 46.5% below its estimated fair value. The current Net-Net Working Capital is R$-41.04. Cia de Fiacao e Tecidos Cedro e Cachoeira's overall GF Score™ is 48/100 with 7 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 Cia de Fiacao e Tecidos Cedro e Cachoeira (BSP:CEDO3), the current Net-Net Working Capital is R$-41.04 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 Cia de Fiacao e Tecidos Cedro e Cachoeira (BSP:CEDO3) Overvalued in 2026?
Based on GuruFocus' analysis, Cia de Fiacao e Tecidos Cedro e Cachoeira stock appears to be undervalued.
The current stock price of R$9.00 is trading 46.5% below its estimated GF Value™ of R$16.82.
Key valuation signals for BSP:CEDO3:
Net-Net Working Capital: R$-41.04
GF Value™: R$16.82 vs. price of R$9.00 (46.5% below fair value)
No single metric tells the full story. See the BSP:CEDO3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cia de Fiacao e Tecidos Cedro e Cachoeira is engaged in the textile industry. It produces and markets garment products such as fashionable clothing, professional uniforms, accessories and personal protective equipment, among others.
48GF Score
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