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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.
Ops eCom SpA's Net-Net Working Capital for the quarter that ended in Jun. 2025 was €-0.77.
The industry rank for Ops eCom SpA's Net-Net Working Capital or its related term are showing as below:
CHIX:OECm's Price-to-Net-Net-Working-Capital is not ranked *
in the Retail - Cyclical industry.
Industry Median: 6.495 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Ops eCom SpA (CHIX:OECm) 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.
Ops eCom SpA Net-Net Working Capital Related Terms
Ops eCom SpA Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Ops eCom SpA'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:OECM vs AMZN, BABA, PDD: Net-Net Working Capital Comparison
For the Internet Retail subindustry, Ops eCom SpA'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.
Ops eCom SpA Price-to-Net-Net-Working-Capital vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Ops eCom SpA's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Ops eCom SpA'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 €-0.77 mean?
Ops eCom SpA (CHIX:OECM) has a Net-Net Working Capital of €-0.77 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 Ops eCom SpA According to the industry distribution chart, Ops eCom SpA ranks #999999 out of 328 companies in the Retail - Cyclical industry.
Is Ops eCom SpA's Net-Net Working Capital too high?
Ops eCom SpA's current Net-Net Working Capital is €-0.77. Based on the distribution chart, Ops eCom SpA ranks #999999 out of 328 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Ops eCom SpA has a GF Score™ of 13/100, reflecting its overall financial health beyond just this single metric.
How does Ops eCom SpA's Net-Net Working Capital compare to AMZN and BABA?
According to the Retail - Cyclical industry distribution chart, Ops eCom SpA ranks #999999 out of 328 companies for Net-Net Working Capital. This places Ops eCom SpA in the lower half of its industry. The industry median Net-Net Working Capital is 6.50. 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 Retail - Cyclical company?
The median Net-Net Working Capital among Retail - Cyclical companies is 6.50, based on 328 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 Ops eCom SpA For the Retail - Cyclical 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. Ops eCom SpA's current Net-Net Working Capital is €-0.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ops eCom SpA stock overvalued right now?
Ops eCom SpA (CHIX:OECM) has a current Net-Net Working Capital of €-0.77. The stock's GF Value™ is €13.08, compared to a current price of €2.36 — trading 82% below its estimated fair value. The current Net-Net Working Capital is €-0.77. Ops eCom SpA's overall GF Score™ is 13/100 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 Ops eCom SpA (CHIX:OECM), the current Net-Net Working Capital is €-0.77 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 Ops eCom SpA (CHIX:OECM) Overvalued in 2026?
Based on GuruFocus' analysis, Ops eCom SpA stock appears to be undervalued.
The current stock price of €2.36 is trading 82% below its estimated GF Value™ of €13.08.
Key valuation signals for CHIX:OECM:
Net-Net Working Capital: €-0.77
GF Value™: €13.08 vs. price of €2.36 (82% below fair value)
No single metric tells the full story. See the CHIX:OECM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ops eCom SpA Formerly Giglio Group SpA is engaged in the e-commerce of high-end fashion products, in the design products' sector and in the food segment.. It offers tailor-made B2B and B2C services to the Luxury Fashion industry as well as other industries, mainly with "Made in Italy" brands. It operates through the below segments: B2B e-commerce, B2C e-commerce and Corporate. It generates majority revenue from the B2B e-commerce.
13GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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