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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:GCRI11's Price-to-Net-Net-Working-Capital is not ranked *
in the REITs industry.
Industry Median: 16.75 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario (BSP:GCRI11) 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.
Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario Net-Net Working Capital Related Terms
Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario 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.
Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario Net-Net Working Capital Chart
Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario Annual Data
Trend
Jun21
Jun22
Jun23
Jun24
Jun25
Net-Net Working Capital
18.46
97.91
95.72
-1.97
-6.76
Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario Semi-Annual Data
Jun21
Jun22
Jun23
Jun24
Jun25
Net-Net Working Capital
18.46
97.91
95.72
-1.97
-6.76
BSP:GCRI11 vs EQIX, AMT, DLR: Net-Net Working Capital Comparison
* 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.
Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario Price-to-Net-Net-Working-Capital vs REITs Industry
* 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$-6.76 mean?
Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario (BSP:GCRI11) has a Net-Net Working Capital of R$-6.76 as of Jun. 2025. 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 Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario According to the industry distribution chart, Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario ranks #999999 out of 112 companies in the REITs industry.
Is Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario's Net-Net Working Capital too high?
Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario's current Net-Net Working Capital is R$-6.76. Based on the distribution chart, Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario ranks #999999 out of 112 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario has a GF Score™ of 52/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario's Net-Net Working Capital compare to EQIX and AMT?
According to the REITs industry distribution chart, Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario ranks #999999 out of 112 companies for Net-Net Working Capital. This places Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario in the lower half of its industry. The industry median Net-Net Working Capital is 16.75. 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 REITs company?
The median Net-Net Working Capital among REITs companies is 16.75, based on 112 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 Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario For the REITs industry, the median Net-Net Working Capital is 16.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario's current Net-Net Working Capital is R$-6.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario stock overvalued right now?
Based on GuruFocus' analysis, Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario (BSP:GCRI11) is currently considered Significantly Undervalued. The stock's GF Value™ is R$120.11, compared to a current price of R$65.98 — trading 45.1% below its estimated fair value. The current Net-Net Working Capital is R$-6.76. Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario's overall GF Score™ is 52/100 with 4 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 Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario (BSP:GCRI11), the current Net-Net Working Capital is R$-6.76 as of Jun. 2025. 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 Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario (BSP:GCRI11) Overvalued in 2026?
Based on GuruFocus' analysis, Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario stock appears to be undervalued.
The current stock price of R$65.98 is trading 45.1% below its estimated GF Value™ of R$120.11.
GuruFocus considers Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario to be Significantly Undervalued.
Key valuation signals for BSP:GCRI11:
Net-Net Working Capital: R$-6.76
GF Value™: R$120.11 vs. price of R$65.98 (45.1% below fair value)
No single metric tells the full story. See the BSP:GCRI11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario Business Description
Galapagos Recebiveis Imobiliarios Fundo DE Investimento Imobiliario aims to make long-term real estate investments, fundamentally aiming at earning income and capital gains from assets, mainly CRI's (Certificates of Real Estate Receivables). The Fund's purpose is to invest in real estate projects, primarily through the acquisition of the following assets which is real estate receivables certificates, mortgage notes, real estate credit letters, guaranteed real estate notes and other assets.
52GF Score
Get the complete analysis for BSP:GCRI11
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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