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.
Les Eaux Minerales d'Oulmes's Net-Net Working Capital for the quarter that ended in Dec. 2025 was MAD-1,167.30.
The industry rank for Les Eaux Minerales d'Oulmes's Net-Net Working Capital or its related term are showing as below:
CAS:OUL's Price-to-Net-Net-Working-Capital is not ranked *
in the Beverages - Non-Alcoholic industry.
Industry Median: 10.07 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Les Eaux Minerales d'Oulmes (CAS:OUL) 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.
Les Eaux Minerales d'Oulmes Net-Net Working Capital Related Terms
Les Eaux Minerales d'Oulmes 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.
Les Eaux Minerales d'Oulmes Net-Net Working Capital Chart
CAS:OUL vs KO, PEP, MNST: Net-Net Working Capital Comparison
For the Beverages - Non-Alcoholic subindustry, Les Eaux Minerales d'Oulmes'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.
Les Eaux Minerales d'Oulmes Price-to-Net-Net-Working-Capital vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Les Eaux Minerales d'Oulmes's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Les Eaux Minerales d'Oulmes'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 MAD-1,167.30 mean?
Les Eaux Minerales d'Oulmes (CAS:OUL) has a Net-Net Working Capital of MAD-1,167.30 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 Les Eaux Minerales d'Oulmes According to the industry distribution chart, Les Eaux Minerales d'Oulmes ranks #999999 out of 47 companies in the Beverages - Non-Alcoholic industry.
Is Les Eaux Minerales d'Oulmes' Net-Net Working Capital too high?
Les Eaux Minerales d'Oulmes' current Net-Net Working Capital is MAD-1,167.30. Based on the distribution chart, Les Eaux Minerales d'Oulmes ranks #999999 out of 47 companies in the Beverages - Non-Alcoholic industry, which is in the bottom quartile relative to peers. Overall, Les Eaux Minerales d'Oulmes has a GF Score™ of 29/100, reflecting its overall financial health beyond just this single metric.
How does Les Eaux Minerales d'Oulmes' Net-Net Working Capital compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, Les Eaux Minerales d'Oulmes ranks #999999 out of 47 companies for Net-Net Working Capital. This places Les Eaux Minerales d'Oulmes in the lower half of its industry. The industry median Net-Net Working Capital is 10.07. 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 Beverages - Non-Alcoholic company?
The median Net-Net Working Capital among Beverages - Non-Alcoholic companies is 10.07, based on 47 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 Les Eaux Minerales d'Oulmes For the Beverages - Non-Alcoholic industry, the median Net-Net Working Capital is 10.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Les Eaux Minerales d'Oulmes's current Net-Net Working Capital is MAD-1,167.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Les Eaux Minerales d'Oulmes stock overvalued right now?
Les Eaux Minerales d'Oulmes (CAS:OUL) has a current Net-Net Working Capital of MAD-1,167.30. The stock's GF Value™ is MAD1,682.34, compared to a current price of MAD1,154.00 — trading 31.4% below its estimated fair value. The current Net-Net Working Capital is MAD-1,167.30. Les Eaux Minerales d'Oulmes' overall GF Score™ is 29/100 with 5 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 Les Eaux Minerales d'Oulmes (CAS:OUL), the current Net-Net Working Capital is MAD-1,167.30 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 Les Eaux Minerales d'Oulmes (CAS:OUL) Overvalued in 2026?
Based on GuruFocus' analysis, Les Eaux Minerales d'Oulmes stock appears to be undervalued.
The current stock price of MAD1,154.00 is trading 31.4% below its estimated GF Value™ of MAD1,682.34.
Key valuation signals for CAS:OUL:
Net-Net Working Capital: MAD-1,167.30
GF Value™: MAD1,682.34 vs. price of MAD1,154.00 (31.4% below fair value)
No single metric tells the full story. See the CAS:OUL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Les Eaux Minerales d'Oulmes SA is engaged in production and distribution of mineral water. Its products include natural mineral water under the brands Sidi Ali and Ain Atlas; natural sparkling mineral water under the brands Oulmes and Oulmes fruity bubbles; and table water under the brand Bahia.
29GF Score
Get the complete analysis for CAS:OUL
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