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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.
CBRL's Price-to-Net-Net-Working-Capital is not ranked *
in the Restaurants industry.
Industry Median: 14.885 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Cracker Barrel Old Country Store (NAS:CBRL) 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.
Cracker Barrel Old Country Store Net-Net Working Capital Related Terms
Cracker Barrel Old Country Store 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.
Cracker Barrel Old Country Store Net-Net Working Capital Chart
CBRL vs PZZA, BJRI, BH: Net-Net Working Capital Comparison
For the Restaurants subindustry, Cracker Barrel Old Country Store'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.
Cracker Barrel Old Country Store Price-to-Net-Net-Working-Capital vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Cracker Barrel Old Country Store's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Cracker Barrel Old Country Store'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 $-66.23 mean?
Cracker Barrel Old Country Store (CBRL) has a Net-Net Working Capital of $-66.23 as of Apr. 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 Cracker Barrel Old Country Store According to the industry distribution chart, Cracker Barrel Old Country Store ranks #999999 out of 50 companies in the Restaurants industry.
Is Cracker Barrel Old Country Store's Net-Net Working Capital too high?
Cracker Barrel Old Country Store's current Net-Net Working Capital is $-66.23. Based on the distribution chart, Cracker Barrel Old Country Store ranks #999999 out of 50 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, Cracker Barrel Old Country Store has a GF Score™ of 64/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cracker Barrel Old Country Store's Net-Net Working Capital compare to PZZA and BJRI?
According to the Restaurants industry distribution chart, Cracker Barrel Old Country Store ranks #999999 out of 50 companies for Net-Net Working Capital. This places Cracker Barrel Old Country Store in the lower half of its industry. The industry median Net-Net Working Capital is 14.89. 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 Restaurants company?
The median Net-Net Working Capital among Restaurants companies is 14.89, based on 50 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 Cracker Barrel Old Country Store For the Restaurants industry, the median Net-Net Working Capital is 14.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cracker Barrel Old Country Store's current Net-Net Working Capital is $-66.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cracker Barrel Old Country Store stock overvalued right now?
Based on GuruFocus' analysis, Cracker Barrel Old Country Store (CBRL) is currently considered Modestly Overvalued. The stock's GF Value™ is $46.64, compared to a current price of $53.61 — trading 14.9% above its estimated fair value. The current Net-Net Working Capital is $-66.23. Cracker Barrel Old Country Store's overall GF Score™ is 64/100 with 10 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 Cracker Barrel Old Country Store (CBRL), the current Net-Net Working Capital is $-66.23 as of Apr. 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 Cracker Barrel Old Country Store (CBRL) Overvalued in 2026?
Based on GuruFocus' analysis, Cracker Barrel Old Country Store stock appears to be overvalued.
The current stock price of $53.61 is trading 14.9% above its estimated GF Value™ of $46.64.
GuruFocus considers Cracker Barrel Old Country Store to be Modestly Overvalued.
Key valuation signals for CBRL:
Net-Net Working Capital: $-66.23
GF Value™: $46.64 vs. price of $53.61 (14.9% above fair value)
No single metric tells the full story. See the CBRL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cracker Barrel Old Country Store Business Description
Cracker Barrel Old Country Store Inc operates hundreds of full-service restaurants throughout the United States. The Cracker Barrel stores consists of a restaurant with a gift shop. The restaurants serve breakfast, lunch and dinner. The gift shop offers a variety of decorative and functional items specializing in rocking chairs, holiday gifts, toys, apparel and foods.
64GF Score
Get the complete analysis for CBRL
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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