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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:NAVT11's Price-to-Net-Net-Working-Capital is ranked better than 88.36% of 481
companies
in the Asset Management industry
Industry Median: 6.14
vs BSP:NAVT11: 0.93
Navi Imobiliario Total Return Fundos DE Investimento Imobiliario (BSP:NAVT11) 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.
Navi Imobiliario Total Return Fundos DE Investimento Imobiliario Net-Net Working Capital Related Terms
Navi Imobiliario Total Return Fundos 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.
Navi Imobiliario Total Return Fundos DE Investimento Imobiliario Net-Net Working Capital Chart
Navi Imobiliario Total Return Fundos DE Investimento Imobiliario Annual Data
Trend
Jun21
Jun22
Jun23
Jun24
Jun25
Net-Net Working Capital
75.94
87.28
96.16
85.89
77.53
Navi Imobiliario Total Return Fundos DE Investimento Imobiliario Semi-Annual Data
Jun21
Jun22
Jun23
Jun24
Jun25
Net-Net Working Capital
75.94
87.28
96.16
85.89
77.53
BSP:NAVT11 vs BLK, BX, KKR: 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.
Navi Imobiliario Total Return Fundos DE Investimento Imobiliario Price-to-Net-Net-Working-Capital vs Asset Management 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$77.53 mean?
Navi Imobiliario Total Return Fundos DE Investimento Imobiliario (BSP:NAVT11) has a Net-Net Working Capital of R$77.53 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 Navi Imobiliario Total Return Fundos DE Investimento Imobiliario According to the industry distribution chart, Navi Imobiliario Total Return Fundos DE Investimento Imobiliario ranks #56 out of 481 companies in the Asset Management industry, placing it in the top 11.6%.
Is Navi Imobiliario Total Return Fundos DE Investimento Imobiliario's Net-Net Working Capital too high?
Navi Imobiliario Total Return Fundos DE Investimento Imobiliario's current Net-Net Working Capital is R$77.53. Based on the distribution chart, Navi Imobiliario Total Return Fundos DE Investimento Imobiliario ranks #56 out of 481 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Navi Imobiliario Total Return Fundos DE Investimento Imobiliario has a GF Score™ of 63/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Navi Imobiliario Total Return Fundos DE Investimento Imobiliario's Net-Net Working Capital compare to BLK and BX?
According to the Asset Management industry distribution chart, Navi Imobiliario Total Return Fundos DE Investimento Imobiliario ranks #56 out of 481 companies for Net-Net Working Capital. This places Navi Imobiliario Total Return Fundos DE Investimento Imobiliario in the top 12% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 6.14. 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 an Asset Management company?
The median Net-Net Working Capital among Asset Management companies is 6.14, based on 481 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 Navi Imobiliario Total Return Fundos DE Investimento Imobiliario For the Asset Management industry, the median Net-Net Working Capital is 6.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Navi Imobiliario Total Return Fundos DE Investimento Imobiliario's current Net-Net Working Capital is R$77.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Navi Imobiliario Total Return Fundos DE Investimento Imobiliario stock overvalued right now?
Based on GuruFocus' analysis, Navi Imobiliario Total Return Fundos DE Investimento Imobiliario (BSP:NAVT11) is currently considered Modestly Undervalued. The stock's GF Value™ is R$80.81, compared to a current price of R$72.21 — trading 10.6% below its estimated fair value. The current Net-Net Working Capital is R$77.53. Navi Imobiliario Total Return Fundos DE Investimento Imobiliario's overall GF Score™ is 63/100 with 3 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 Navi Imobiliario Total Return Fundos DE Investimento Imobiliario (BSP:NAVT11), the current Net-Net Working Capital is R$77.53 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 Navi Imobiliario Total Return Fundos DE Investimento Imobiliario (BSP:NAVT11) Overvalued in 2026?
Based on GuruFocus' analysis, Navi Imobiliario Total Return Fundos DE Investimento Imobiliario stock appears to be undervalued.
The current stock price of R$72.21 is trading 10.6% below its estimated GF Value™ of R$80.81.
GuruFocus considers Navi Imobiliario Total Return Fundos DE Investimento Imobiliario to be Modestly Undervalued.
Key valuation signals for BSP:NAVT11:
Net-Net Working Capital: R$77.53
GF Value™: R$80.81 vs. price of R$72.21 (10.6% below fair value)
No single metric tells the full story. See the BSP:NAVT11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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