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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:RPMG3's Price-to-Net-Net-Working-Capital is not ranked *
in the Oil & Gas industry.
Industry Median: 6.19 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Refinaria De Petroleos Manguinhos (BSP:RPMG3) 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.
Refinaria De Petroleos Manguinhos Net-Net Working Capital Related Terms
Refinaria De Petroleos Manguinhos 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.
Refinaria De Petroleos Manguinhos Net-Net Working Capital Chart
BSP:RPMG3 vs VLO, MPC, PSX: Net-Net Working Capital Comparison
For the Oil & Gas Refining & Marketing subindustry, Refinaria De Petroleos Manguinhos'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.
Refinaria De Petroleos Manguinhos Price-to-Net-Net-Working-Capital vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Refinaria De Petroleos Manguinhos's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Refinaria De Petroleos Manguinhos'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$-205.77 mean?
Refinaria De Petroleos Manguinhos (BSP:RPMG3) has a Net-Net Working Capital of R$-205.77 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 Refinaria De Petroleos Manguinhos
Is Refinaria De Petroleos Manguinhos' Net-Net Working Capital too high?
Refinaria De Petroleos Manguinhos' current Net-Net Working Capital is R$-205.77. Overall, Refinaria De Petroleos Manguinhos has a GF Score™ of 50/100, reflecting its overall financial health beyond just this single metric.
How does Refinaria De Petroleos Manguinhos' Net-Net Working Capital compare to VLO and MPC?
Refinaria De Petroleos Manguinhos' Net-Net Working Capital of R$-205.77 can be compared against companies in the Oil & Gas industry. The industry median Net-Net Working Capital is 6.19. 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 Oil & Gas company?
The median Net-Net Working Capital among Oil & Gas companies is 6.19, based on 196 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 Refinaria De Petroleos Manguinhos For the Oil & Gas industry, the median Net-Net Working Capital is 6.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Refinaria De Petroleos Manguinhos's current Net-Net Working Capital is R$-205.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Refinaria De Petroleos Manguinhos stock overvalued right now?
Refinaria De Petroleos Manguinhos (BSP:RPMG3) has a current Net-Net Working Capital of R$-205.77. The current Net-Net Working Capital is R$-205.77. Refinaria De Petroleos Manguinhos' overall GF Score™ is 50/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Refinaria De Petroleos Manguinhos (BSP:RPMG3), the current Net-Net Working Capital is R$-205.77 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.
Refinaria De Petroleos Manguinhos SA is engaged in the operation of the oil refinery, import, sale and export of crude oil and its derivatives, and provision of services related to the refining activity, among others.
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