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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.
Ebang International Holdings (NAS:EBON) 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.
Ebang International Holdings Net-Net Working Capital Related Terms
Ebang International 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.
Ebang International Holdings Net-Net Working Capital Chart
EBON vs BTCT, SCKT, AGMH: Net-Net Working Capital Comparison
For the Computer Hardware subindustry, Ebang International 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.
Ebang International Holdings Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, Ebang International Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Ebang International 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 $30.68 mean?
Ebang International Holdings (EBON) has a Net-Net Working Capital of $30.68 as of Jun. 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 Ebang International Holdings According to the industry distribution chart, Ebang International Holdings ranks #2 out of 1181 companies in the Hardware industry, placing it in the top 0.2%.
Is Ebang International Holdings' Net-Net Working Capital too high?
Ebang International Holdings' current Net-Net Working Capital is $30.68. The Hardware industry median Net-Net Working Capital is 8.93. Ebang International Holdings' value of $30.68 is 243.6% above this industry median. Based on the distribution chart, Ebang International Holdings ranks #2 out of 1181 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Ebang International Holdings has a GF Score™ of 48/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Ebang International Holdings' Net-Net Working Capital compare to BTCT and SCKT?
According to the Hardware industry distribution chart, Ebang International Holdings ranks #2 out of 1181 companies for Net-Net Working Capital. This places Ebang International Holdings in the top 0% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 8.93. Ebang International Holdings' value of $30.68 is 243.6% above 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 Hardware company?
The median Net-Net Working Capital among Hardware companies is 8.93, based on 1,181 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. Ebang International Holdings's current Net-Net Working Capital of $30.68 is 243.6% above 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 Ebang International Holdings For the Hardware industry, the median Net-Net Working Capital is 8.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ebang International Holdings's current Net-Net Working Capital is $30.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ebang International Holdings stock overvalued right now?
Based on GuruFocus' analysis, Ebang International Holdings (EBON) is currently considered Possible Value Trap. The stock's GF Value™ is $4.05, compared to a current price of $2.08 — trading 48.6% below its estimated fair value. The current Net-Net Working Capital is $30.68 and 243.6% above the Hardware industry median of 8.93. Ebang International Holdings' overall GF Score™ is 48/100 with 3 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 Ebang International Holdings (EBON), the current Net-Net Working Capital is $30.68 as of Jun. 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 Ebang International Holdings (EBON) Overvalued in 2026?
Based on GuruFocus' analysis, Ebang International Holdings stock appears to be undervalued.
The current stock price of $2.08 is trading 48.6% below its estimated GF Value™ of $4.05.
GuruFocus considers Ebang International Holdings to be Possible Value Trap.
Key valuation signals for EBON:
Net-Net Working Capital: $30.68
GF Value™: $4.05 vs. price of $2.08 (48.6% below fair value)
Industry Position: 243.6% above the Hardware median (#2 of 1181)
No single metric tells the full story. See the EBON stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ebang International Holdings Inc is engaged in blockchain technology and fintech, with activities also extending to the solar industry, supported by its application-specific integrated circuit (ASIC) chip designs. The Company's business mainly includes the sale of bitcoin mining machines and related accessories, telecommunication products, solar and battery storage products, cryptocurrency exchange services, cross-border payment and foreign exchange services, SaaS data visualization and analytics solutions, and rental services. It generates the majority of its revenue from cross-border payment and foreign exchange services, with its operations mainly in mainland China and Australia, which contribute the maximum revenue.
48GF Score
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