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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.
Bowlin Travel Centers's Net-Net Working Capital for the quarter that ended in Jan. 2026 was $0.18.
The industry rank for Bowlin Travel Centers's Net-Net Working Capital or its related term are showing as below:
BWTL's Price-to-Net-Net-Working-Capital is ranked worse than 77.44% of 328
companies
in the Retail - Cyclical industry
Industry Median: 6.005
vs BWTL: 20.56
Bowlin Travel Centers (OTCPK:BWTL) 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.
Bowlin Travel Centers Net-Net Working Capital Related Terms
Bowlin Travel Centers Net-Net Working Capital Historical Data
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The historical data trend for Bowlin Travel Centers'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.
Bowlin Travel Centers Net-Net Working Capital Chart
BWTL vs CGTL, JBDI, RECT: Net-Net Working Capital Comparison
For the Specialty Retail subindustry, Bowlin Travel Centers'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.
Bowlin Travel Centers Price-to-Net-Net-Working-Capital vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Bowlin Travel Centers's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Bowlin Travel Centers'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 $0.18 mean?
Bowlin Travel Centers (BWTL) has a Net-Net Working Capital of $0.18 as of Jan. 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 Bowlin Travel Centers According to the industry distribution chart, Bowlin Travel Centers ranks #254 out of 328 companies in the Retail - Cyclical industry, placing it in the top 77.4%.
Is Bowlin Travel Centers' Net-Net Working Capital too high?
Bowlin Travel Centers' current Net-Net Working Capital is $0.18. The Retail - Cyclical industry median Net-Net Working Capital is 6.01. Bowlin Travel Centers' value of $0.18 is 97% below this industry median. Based on the distribution chart, Bowlin Travel Centers ranks #254 out of 328 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Bowlin Travel Centers has a GF Score™ of 62/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bowlin Travel Centers' Net-Net Working Capital compare to CGTL and JBDI?
According to the Retail - Cyclical industry distribution chart, Bowlin Travel Centers ranks #254 out of 328 companies for Net-Net Working Capital. This places Bowlin Travel Centers in the lower half of its industry. The industry median Net-Net Working Capital is 6.01. Bowlin Travel Centers' value of $0.18 is 97% below this benchmark. 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 6.01, based on 328 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. Bowlin Travel Centers's current Net-Net Working Capital of $0.18 is 97% below the industry median. 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 Bowlin Travel Centers For the Retail - Cyclical industry, the median Net-Net Working Capital is 6.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bowlin Travel Centers's current Net-Net Working Capital is $0.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bowlin Travel Centers stock overvalued right now?
Based on GuruFocus' analysis, Bowlin Travel Centers (BWTL) is currently considered Significantly Undervalued. The stock's GF Value™ is $6.19, compared to a current price of $3.70 — trading 40.2% below its estimated fair value. The current Net-Net Working Capital is $0.18 and 97% below the Retail - Cyclical industry median of 6.01. Bowlin Travel Centers' overall GF Score™ is 62/100 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 Bowlin Travel Centers (BWTL), the current Net-Net Working Capital is $0.18 as of Jan. 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 Bowlin Travel Centers (BWTL) Overvalued in 2026?
Based on GuruFocus' analysis, Bowlin Travel Centers stock appears to be undervalued.
The current stock price of $3.70 is trading 40.2% below its estimated GF Value™ of $6.19.
GuruFocus considers Bowlin Travel Centers to be Significantly Undervalued.
Key valuation signals for BWTL:
Net-Net Working Capital: $0.18
GF Value™: $6.19 vs. price of $3.70 (40.2% below fair value)
Industry Position: 97% below the Retail - Cyclical median (#254 of 328)
No single metric tells the full story. See the BWTL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bowlin Travel Centers Inc is engaged in the operation of ten travel centers and five restaurants located along well-traveled interstate highways in New Mexico and Arizona where there are generally few gas stations, convenience stores or restaurants. Few of the company's travel centers offer fuel, and the company operated five full-service restaurants under the Dairy Queen/Brazier or Dairy Queen trade names. The company's travel centers offer a variety of Southwestern merchandise to the traveling public in the Southwestern United States, New Mexico. It also sells convenience store food such as chips, nuts, cookies, prepackaged sandwiches, and drinks.
62GF Score
Get the complete analysis for BWTL
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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