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PolynovoCALZF 74 Net-Net Working Capital is $0.01 as of Dec. 2025. GuruFocus rates CALZF with a GF Score™ of 74/100 and a GF Value™ of $2.17 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 421 Medical Devices & Instruments companies, Polynovo ranks worse than 90.74% on this metric.
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.
Polynovo's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $0.01.
The industry rank for Polynovo's Net-Net Working Capital or its related term are showing as below:
CALZF's Price-to-Net-Net-Working-Capital is ranked worse than 90.74% of 421
companies
in the Medical Devices & Instruments industry
Industry Median: 6.5
vs CALZF: 56.00
Polynovo (OTCPK:CALZF) 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.
Polynovo Net-Net Working Capital Related Terms
Polynovo Net-Net Working Capital Historical Data
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The historical data trend for Polynovo'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.
CALZF vs ABT, SYK, MDT: Net-Net Working Capital Comparison
For the Medical Devices subindustry, Polynovo'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.
Polynovo Price-to-Net-Net-Working-Capital vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Polynovo's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Polynovo'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 $0.01 mean?
Polynovo (CALZF) has a Net-Net Working Capital of $0.01 as of Dec. 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 Polynovo According to the industry distribution chart, Polynovo ranks #382 out of 421 companies in the Medical Devices & Instruments industry, placing it in the top 90.7%.
Is Polynovo's Net-Net Working Capital too high?
Polynovo's current Net-Net Working Capital is $0.01. The Medical Devices & Instruments industry median Net-Net Working Capital is 6.50. Polynovo's value of $0.01 is 99.8% below this industry median. Based on the distribution chart, Polynovo ranks #382 out of 421 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Polynovo has a GF Score™ of 74/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Polynovo's Net-Net Working Capital compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, Polynovo ranks #382 out of 421 companies for Net-Net Working Capital. This places Polynovo in the lower half of its industry. The industry median Net-Net Working Capital is 6.50. Polynovo's value of $0.01 is 99.8% 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 Medical Devices & Instruments company?
The median Net-Net Working Capital among Medical Devices & Instruments companies is 6.50, based on 421 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. Polynovo's current Net-Net Working Capital of $0.01 is 99.8% 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 Polynovo For the Medical Devices & Instruments industry, the median Net-Net Working Capital is 6.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Polynovo's current Net-Net Working Capital is $0.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Polynovo stock overvalued right now?
Based on GuruFocus' analysis, Polynovo (CALZF) is currently considered Significantly Undervalued. The stock's GF Value™ is $2.17, compared to a current price of $0.56 — trading 74.2% below its estimated fair value. The current Net-Net Working Capital is $0.01 and 99.8% below the Medical Devices & Instruments industry median of 6.50. Polynovo's overall GF Score™ is 74/100 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 Polynovo (CALZF), the current Net-Net Working Capital is $0.01 as of Dec. 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 Polynovo (CALZF) Overvalued in 2026?
Based on GuruFocus' analysis, Polynovo stock appears to be undervalued.
The current stock price of $0.56 is trading 74.2% below its estimated GF Value™ of $2.17.
GuruFocus considers Polynovo to be Significantly Undervalued.
Key valuation signals for CALZF:
Net-Net Working Capital: $0.01
GF Value™: $2.17 vs. price of $0.56 (74.2% below fair value)
Industry Position: 99.8% below the Medical Devices & Instruments median (#382 of 421)
No single metric tells the full story. See the CALZF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Polynovo earns most of its revenue from US sales of its NovoSorb Biodegradable Temporizing Matrix, or NovoSorb BTM. The product is a patented biodegradable synthetic scaffold to support the regeneration of the dermis when lost through surgery, trauma, burns, or other causes of tissue loss. Once the product is applied to a wound, it takes a few weeks for the dermal layer to fully integrate within the polymer scaffold before a clinician can delaminate the outer layer. A small wound would then close either naturally or with a dressing, while a larger wound would close through a split-skin graft or alternative product such as Avita's RECELL. NovoSorb BTM then slowly degrades to harmless byproducts which are fully absorbed in roughly 18 months.
74GF Score
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