Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
CHIX:DOREl's Price-to-Net-Net-Working-Capital is not ranked *
in the Utilities - Independent Power Producers industry.
Industry Median: 6.33 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Downing Renewables & Infrastructure Trust (CHIX:DOREl) 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.
Downing Renewables & Infrastructure Trust Net-Net Working Capital Related Terms
Downing Renewables & Infrastructure Trust 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.
Downing Renewables & Infrastructure Trust Net-Net Working Capital Chart
Downing Renewables & Infrastructure Trust Annual Data
Trend
Dec21
Dec22
Dec23
Dec24
Net-Net Working Capital
0.07
0.12
0.00
0.00
Downing Renewables & Infrastructure Trust Semi-Annual Data
CHIX:DOREL vs CEG: Net-Net Working Capital Comparison
For the Utilities - Renewable subindustry, Downing Renewables & Infrastructure Trust'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.
Downing Renewables & Infrastructure Trust Price-to-Net-Net-Working-Capital vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Downing Renewables & Infrastructure Trust's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Downing Renewables & Infrastructure Trust'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?
Downing Renewables & Infrastructure Trust (CHIX:DOREL) has a Net-Net Working Capital of £-0.01 as of Jun. 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 Downing Renewables & Infrastructure Trust
Is Downing Renewables & Infrastructure Trust's Net-Net Working Capital too high?
Downing Renewables & Infrastructure Trust's current Net-Net Working Capital is £-0.01. Overall, Downing Renewables & Infrastructure Trust has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Downing Renewables & Infrastructure Trust's Net-Net Working Capital compare to CEG?
Downing Renewables & Infrastructure Trust's Net-Net Working Capital of £-0.01 can be compared against companies in the Utilities - Independent Power Producers industry. The industry median Net-Net Working Capital is 6.33. 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 an Utilities - Independent Power Producers company?
The median Net-Net Working Capital among Utilities - Independent Power Producers companies is 6.33, based on 63 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 Downing Renewables & Infrastructure Trust For the Utilities - Independent Power Producers industry, the median Net-Net Working Capital is 6.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Downing Renewables & Infrastructure Trust'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 Downing Renewables & Infrastructure Trust stock overvalued right now?
Downing Renewables & Infrastructure Trust (CHIX:DOREL) has a current Net-Net Working Capital of £-0.01. The stock's GF Value™ is £0.19, compared to a current price of £0.82 — trading 331.6% above its estimated fair value. The current Net-Net Working Capital is £-0.01. Downing Renewables & Infrastructure Trust's overall GF Score™ is 20/100 with 7 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 Downing Renewables & Infrastructure Trust (CHIX:DOREL), the current Net-Net Working Capital is £-0.01 as of Jun. 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 Downing Renewables & Infrastructure Trust (CHIX:DOREL) Overvalued in 2026?
Based on GuruFocus' analysis, Downing Renewables & Infrastructure Trust stock appears to be overvalued.
The current stock price of £0.82 is trading 331.6% above its estimated GF Value™ of £0.19.
Key valuation signals for CHIX:DOREL:
Net-Net Working Capital: £-0.01
GF Value™: £0.19 vs. price of £0.82 (331.6% above fair value)
No single metric tells the full story. See the CHIX:DOREL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Downing Renewables & Infrastructure Trust PLC is a closed-end asset management company. The group is designed to provide investors with an attractive and sustainable level of income, with an element of capital growth, by investing in a diversified portfolio of renewable energy and infrastructure assets in the UK, Ireland, and Northern Europe. It focuses on diversification by geography, technology, revenue, and project stage, and is designed to deliver stability of revenues and consistency of income to shareholders. The sustainable Investment objective of the Company is to accelerate the transition to net zero through its investments, compiling and operating a diversified portfolio of renewable energy and infrastructure assets to help facilitate the transition to a more sustainable future.
20GF Score
Get the complete analysis for CHIX:DOREL
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
CHIX:DOREL has been successfully added to your 
