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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.
Track & Field Co's Net-Net Working Capital for the quarter that ended in Jun. 2026 was R$0.20.
The industry rank for Track & Field Co's Net-Net Working Capital or its related term are showing as below:
BSP:TFCO4's Price-to-Net-Net-Working-Capital is ranked worse than 94.7% of 321
companies
in the Retail - Cyclical industry
Industry Median: 6.24
vs BSP:TFCO4: 63.75
Track & Field Co (BSP:TFCO4) 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.
Track & Field Co Net-Net Working Capital Related Terms
Track & Field Co Net-Net Working Capital Historical Data
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The historical data trend for Track & Field Co'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:TFCO4 vs TJX, ROST, BURL: Net-Net Working Capital Comparison
For the Apparel Retail subindustry, Track & Field Co'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.
Track & Field Co Price-to-Net-Net-Working-Capital vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Track & Field Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Track & Field Co'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$0.20 mean?
Track & Field Co (BSP:TFCO4) has a Net-Net Working Capital of R$0.20 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 Track & Field Co According to the industry distribution chart, Track & Field Co ranks #304 out of 321 companies in the Retail - Cyclical industry, placing it in the top 94.7%.
Is Track & Field Co's Net-Net Working Capital too high?
Track & Field Co's current Net-Net Working Capital is R$0.20. Based on the distribution chart, Track & Field Co ranks #304 out of 321 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Track & Field Co has a GF Score™ of 96/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Track & Field Co's Net-Net Working Capital compare to TJX and ROST?
According to the Retail - Cyclical industry distribution chart, Track & Field Co ranks #304 out of 321 companies for Net-Net Working Capital. This places Track & Field Co in the lower half of its industry. The industry median Net-Net Working Capital is 6.24. 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 6.24, based on 321 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 Track & Field Co For the Retail - Cyclical industry, the median Net-Net Working Capital is 6.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Track & Field Co's current Net-Net Working Capital is R$0.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Track & Field Co stock overvalued right now?
Based on GuruFocus' analysis, Track & Field Co (BSP:TFCO4) is currently considered Significantly Undervalued. The stock's GF Value™ is R$19.11, compared to a current price of R$12.75 — trading 33.3% below its estimated fair value. The current Net-Net Working Capital is R$0.20. Track & Field Co's overall GF Score™ is 96/100. 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 Track & Field Co (BSP:TFCO4), the current Net-Net Working Capital is R$0.20 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 Track & Field Co (BSP:TFCO4) Overvalued in 2026?
Based on GuruFocus' analysis, Track & Field Co stock appears to be undervalued.
The current stock price of R$12.75 is trading 33.3% below its estimated GF Value™ of R$19.11.
GuruFocus considers Track & Field Co to be Significantly Undervalued.
Key valuation signals for BSP:TFCO4:
Net-Net Working Capital: R$0.20
GF Value™: R$19.11 vs. price of R$12.75 (33.3% below fair value)
No single metric tells the full story. See the BSP:TFCO4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Track & Field Co SA is a sports apparel retailer. The company is engaged in the development and sale of sports and general leisure products (footwear, apparel, equipment, and accessories) originating from the domestic and foreign markets, and holding interests in other entities, conducting business franchise management, franchising, and promoting and organizing sporting events, and operating in the food industry. It operates in single segment, i.e., the retail industry, which comprises the development and sale of clothing, accessories and sporting experiences aimed at reinforcing the brand positioning and boosting the flow of customers to the stores.
96GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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