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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.
DHA:BATBC's Price-to-Net-Net-Working-Capital is not ranked *
in the Tobacco Products industry.
Industry Median: 10.13 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
British American Tobacco Bangladesh Co (DHA:BATBC) 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.
British American Tobacco Bangladesh Co Net-Net Working Capital Related Terms
British American Tobacco Bangladesh Co 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.
British American Tobacco Bangladesh Co Net-Net Working Capital Chart
British American Tobacco Bangladesh Co Annual Data
DHA:BATBC vs PM, MO, TPB: Net-Net Working Capital Comparison
For the Tobacco subindustry, British American Tobacco Bangladesh Co'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.
British American Tobacco Bangladesh Co Price-to-Net-Net-Working-Capital vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, British American Tobacco Bangladesh Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where British American Tobacco Bangladesh Co'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 BDT-45.48 mean?
British American Tobacco Bangladesh Co (DHA:BATBC) has a Net-Net Working Capital of BDT-45.48 as of Mar. 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 British American Tobacco Bangladesh Co According to the industry distribution chart, British American Tobacco Bangladesh Co ranks #999999 out of 19 companies in the Tobacco Products industry.
Is British American Tobacco Bangladesh Co's Net-Net Working Capital too high?
British American Tobacco Bangladesh Co's current Net-Net Working Capital is BDT-45.48. Based on the distribution chart, British American Tobacco Bangladesh Co ranks #999999 out of 19 companies in the Tobacco Products industry, which is in the bottom quartile relative to peers. Overall, British American Tobacco Bangladesh Co has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does British American Tobacco Bangladesh Co's Net-Net Working Capital compare to PM and MO?
According to the Tobacco Products industry distribution chart, British American Tobacco Bangladesh Co ranks #999999 out of 19 companies for Net-Net Working Capital. This places British American Tobacco Bangladesh Co in the lower half of its industry. The industry median Net-Net Working Capital is 10.13. 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 Tobacco Products company?
The median Net-Net Working Capital among Tobacco Products companies is 10.13, based on 19 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 British American Tobacco Bangladesh Co For the Tobacco Products industry, the median Net-Net Working Capital is 10.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. British American Tobacco Bangladesh Co's current Net-Net Working Capital is BDT-45.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is British American Tobacco Bangladesh Co stock overvalued right now?
Based on GuruFocus' analysis, British American Tobacco Bangladesh Co (DHA:BATBC) is currently considered Modestly Undervalued. The stock's GF Value™ is BDT312.18, compared to a current price of BDT234.00 — trading 25% below its estimated fair value. The current Net-Net Working Capital is BDT-45.48. British American Tobacco Bangladesh Co's overall GF Score™ is 81/100 with 9 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 British American Tobacco Bangladesh Co (DHA:BATBC), the current Net-Net Working Capital is BDT-45.48 as of Mar. 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 British American Tobacco Bangladesh Co (DHA:BATBC) Overvalued in 2026?
Based on GuruFocus' analysis, British American Tobacco Bangladesh Co stock appears to be undervalued.
The current stock price of BDT234.00 is trading 25% below its estimated GF Value™ of BDT312.18.
GuruFocus considers British American Tobacco Bangladesh Co to be Modestly Undervalued.
Key valuation signals for DHA:BATBC:
Net-Net Working Capital: BDT-45.48
GF Value™: BDT312.18 vs. price of BDT234.00 (25% below fair value)
No single metric tells the full story. See the DHA:BATBC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
British American Tobacco Bangladesh Co Business Description
British American Tobacco Bangladesh Co Ltd is engaged in the manufacturing and marketing of cigarettes in Bangladesh. It manufactures and markets brands including Benson & Hedges, John Player Gold Leaf, John Player Series, Capstan, Lucky Strike, Star, Royals, Derby, Pilot, and Hollywood.
81GF Score
Get the complete analysis for DHA:BATBC
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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