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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.
CMGHF's Price-to-Net-Net-Working-Capital is ranked better than 96.89% of 644
companies
in the Consumer Packaged Goods industry
Industry Median: 6.82
vs CMGHF: 0.67
Chaoda Modern Agriculture (Holdings) (OTCPK:CMGHF) 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.
Chaoda Modern Agriculture (Holdings) Net-Net Working Capital Related Terms
Chaoda Modern Agriculture (Holdings) 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.
Chaoda Modern Agriculture (Holdings) Net-Net Working Capital Chart
CMGHF vs ADM, BG, TSN: Net-Net Working Capital Comparison
For the Farm Products subindustry, Chaoda Modern Agriculture (Holdings)'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.
Chaoda Modern Agriculture (Holdings) Price-to-Net-Net-Working-Capital vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Chaoda Modern Agriculture (Holdings)'s Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Chaoda Modern Agriculture (Holdings)'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 $0.04 mean?
Chaoda Modern Agriculture (Holdings) (CMGHF) has a Net-Net Working Capital of $0.04 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 Chaoda Modern Agriculture (Holdings) According to the industry distribution chart, Chaoda Modern Agriculture (Holdings) ranks #20 out of 644 companies in the Consumer Packaged Goods industry, placing it in the top 3.1%.
Is Chaoda Modern Agriculture (Holdings)'s Net-Net Working Capital too high?
Chaoda Modern Agriculture (Holdings)'s current Net-Net Working Capital is $0.04. The Consumer Packaged Goods industry median Net-Net Working Capital is 6.82. Chaoda Modern Agriculture (Holdings)'s value of $0.04 is 99.4% below this industry median. Based on the distribution chart, Chaoda Modern Agriculture (Holdings) ranks #20 out of 644 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Chaoda Modern Agriculture (Holdings) has a GF Score™ of 37/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Chaoda Modern Agriculture (Holdings)'s Net-Net Working Capital compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Chaoda Modern Agriculture (Holdings) ranks #20 out of 644 companies for Net-Net Working Capital. This places Chaoda Modern Agriculture (Holdings) in the top 3% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 6.82. Chaoda Modern Agriculture (Holdings)'s value of $0.04 is 99.4% below this benchmark. 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 Consumer Packaged Goods company?
The median Net-Net Working Capital among Consumer Packaged Goods companies is 6.82, based on 644 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. Chaoda Modern Agriculture (Holdings)'s current Net-Net Working Capital of $0.04 is 99.4% below the industry median. 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 Chaoda Modern Agriculture (Holdings) For the Consumer Packaged Goods industry, the median Net-Net Working Capital is 6.82 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chaoda Modern Agriculture (Holdings)'s current Net-Net Working Capital is $0.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chaoda Modern Agriculture (Holdings) stock overvalued right now?
Based on GuruFocus' analysis, Chaoda Modern Agriculture (Holdings) (CMGHF) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.01, compared to a current price of $0.02 — trading 100% above its estimated fair value. The current Net-Net Working Capital is $0.04 and 99.4% below the Consumer Packaged Goods industry median of 6.82. Chaoda Modern Agriculture (Holdings)'s overall GF Score™ is 37/100 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 Chaoda Modern Agriculture (Holdings) (CMGHF), the current Net-Net Working Capital is $0.04 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 Chaoda Modern Agriculture (Holdings) (CMGHF) Overvalued in 2026?
Based on GuruFocus' analysis, Chaoda Modern Agriculture (Holdings) stock appears to be overvalued.
The current stock price of $0.02 is trading 100% above its estimated GF Value™ of $0.01.
GuruFocus considers Chaoda Modern Agriculture (Holdings) to be Significantly Overvalued.
Key valuation signals for CMGHF:
Net-Net Working Capital: $0.04
GF Value™: $0.01 vs. price of $0.02 (100% above fair value)
Industry Position: 99.4% below the Consumer Packaged Goods median (#20 of 644)
No single metric tells the full story. See the CMGHF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chaoda Modern Agriculture (Holdings) Ltd operates as an investment holding company. Along with its subsidiaries, it engages in the production and sale of agricultural products. The company's main businesses include the growing and sales of crops, as well as the breeding and sales of livestock. Its product offerings include various vegetables and fruits such as broccoli, sweet corn, cabbage, pumpkin, lettuce, and tangerine, among others, which are sold under the Chaoda brand. The firm earns a majority of its revenue from the sales of crops in Hong Kong.
37GF Score
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