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.
Exasol AG's Net-Net Working Capital for the quarter that ended in Dec. 2025 was €0.14.
The industry rank for Exasol AG's Net-Net Working Capital or its related term are showing as below:
CHIX:EXLd's Price-to-Net-Net-Working-Capital is ranked worse than 73.75% of 1257
companies
in the Software industry
Industry Median: 6.8
vs CHIX:EXLd: 15.07
Exasol AG (CHIX:EXLd) 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.
Exasol AG Net-Net Working Capital Related Terms
Exasol AG Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Exasol AG'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.
CHIX:EXLD vs MSFT, ORCL, PLTR: Net-Net Working Capital Comparison
For the Software - Infrastructure subindustry, Exasol AG'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.
Exasol AG Price-to-Net-Net-Working-Capital vs Software Industry
For the Software industry and Technology sector, Exasol AG's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Exasol AG'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 €0.14 mean?
Exasol AG (CHIX:EXLD) has a Net-Net Working Capital of €0.14 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 Exasol AG According to the industry distribution chart, Exasol AG ranks #927 out of 1257 companies in the Software industry, placing it in the top 73.7%.
Is Exasol AG's Net-Net Working Capital too high?
Exasol AG's current Net-Net Working Capital is €0.14. Based on the distribution chart, Exasol AG ranks #927 out of 1257 companies in the Software industry, which is below the industry midpoint. Overall, Exasol AG has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does Exasol AG's Net-Net Working Capital compare to MSFT and ORCL?
According to the Software industry distribution chart, Exasol AG ranks #927 out of 1257 companies for Net-Net Working Capital. This places Exasol AG in the lower half of its industry. The industry median Net-Net Working Capital is 6.80. 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 Software company?
The median Net-Net Working Capital among Software companies is 6.80, based on 1,257 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 Exasol AG For the Software industry, the median Net-Net Working Capital is 6.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Exasol AG's current Net-Net Working Capital is €0.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Exasol AG stock overvalued right now?
Exasol AG (CHIX:EXLD) has a current Net-Net Working Capital of €0.14. The stock's GF Value™ is €10.11, compared to a current price of €3.87 — trading 61.7% below its estimated fair value. The current Net-Net Working Capital is €0.14. Exasol AG's overall GF Score™ is 14/100 with 2 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 Exasol AG (CHIX:EXLD), the current Net-Net Working Capital is €0.14 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 Exasol AG (CHIX:EXLD) Overvalued in 2026?
Based on GuruFocus' analysis, Exasol AG stock appears to be undervalued.
The current stock price of €3.87 is trading 61.7% below its estimated GF Value™ of €10.11.
Key valuation signals for CHIX:EXLD:
Net-Net Working Capital: €0.14
GF Value™: €10.11 vs. price of €3.87 (61.7% below fair value)
No single metric tells the full story. See the CHIX:EXLD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Exasol AG is a technology company providing a next-generation in-memory analytical database that enables customers to access and analyse data at high speed and scale. The company's technology is used to simplify complex analytics with in-memory computing, massively parallel processing (MPP), self-tuning functionality, and AI capabilities.
14GF Score
Get the complete analysis for CHIX:EXLD
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:EXLD has been successfully added to your 
