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EvoNext HoldingsELVAF -2.65%52 Net-Net Working Capital is $0.89 as of Dec. 2025. GuruFocus rates ELVAF with a GF Score™ of 52/100 and a GF Value™ of $1.28 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 177 Diversified Financial Services companies, EvoNext Holdings ranks worse than 54.24% on this metric.
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.
EvoNext Holdings's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $0.89.
The industry rank for EvoNext Holdings's Net-Net Working Capital or its related term are showing as below:
ELVAF's Price-to-Net-Net-Working-Capital is ranked worse than 54.24% of 177
companies
in the Diversified Financial Services industry
Industry Median: 2.33
vs ELVAF: 3.14
EvoNext Holdings (OTCPK:ELVAF) 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.
EvoNext Holdings Net-Net Working Capital Related Terms
EvoNext Holdings Net-Net Working Capital Historical Data
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The historical data trend for EvoNext Holdings'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.
ELVAF vs XXI, CCXI, DMII: Net-Net Working Capital Comparison
For the Shell Companies subindustry, EvoNext 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.
EvoNext Holdings Price-to-Net-Net-Working-Capital vs Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, EvoNext Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where EvoNext 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 $0.89 mean?
EvoNext Holdings (ELVAF) has a Net-Net Working Capital of $0.89 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 EvoNext Holdings According to the industry distribution chart, EvoNext Holdings ranks #96 out of 177 companies in the Diversified Financial Services industry, placing it in the top 54.2%.
Is EvoNext Holdings' Net-Net Working Capital too high?
EvoNext Holdings' current Net-Net Working Capital is $0.89. The Diversified Financial Services industry median Net-Net Working Capital is 2.33. EvoNext Holdings' value of $0.89 is 61.8% below this industry median. Based on the distribution chart, EvoNext Holdings ranks #96 out of 177 companies in the Diversified Financial Services industry, which is below the industry midpoint. Overall, EvoNext Holdings has a GF Score™ of 52/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does EvoNext Holdings' Net-Net Working Capital compare to XXI and CCXI?
According to the Diversified Financial Services industry distribution chart, EvoNext Holdings ranks #96 out of 177 companies for Net-Net Working Capital. This places EvoNext Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 2.33. EvoNext Holdings' value of $0.89 is 61.8% 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 Diversified Financial Services company?
The median Net-Net Working Capital among Diversified Financial Services companies is 2.33, based on 177 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. EvoNext Holdings's current Net-Net Working Capital of $0.89 is 61.8% 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 EvoNext Holdings For the Diversified Financial Services industry, the median Net-Net Working Capital is 2.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. EvoNext Holdings's current Net-Net Working Capital is $0.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is EvoNext Holdings stock overvalued right now?
Based on GuruFocus' analysis, EvoNext Holdings (ELVAF) is currently considered Modestly Undervalued. The stock's GF Value™ is $1.28, compared to a current price of $1.10 — trading 14.1% below its estimated fair value. The current Net-Net Working Capital is $0.89 and 61.8% below the Diversified Financial Services industry median of 2.33. EvoNext Holdings' overall GF Score™ is 52/100 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 EvoNext Holdings (ELVAF), the current Net-Net Working Capital is $0.89 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 EvoNext Holdings (ELVAF) Overvalued in 2026?
Based on GuruFocus' analysis, EvoNext Holdings stock appears to be undervalued.
The current stock price of $1.10 is trading 14.1% below its estimated GF Value™ of $1.28.
GuruFocus considers EvoNext Holdings to be Modestly Undervalued.
Key valuation signals for ELVAF:
Net-Net Working Capital: $0.89
GF Value™: $1.28 vs. price of $1.10 (14.1% below fair value)
Industry Position: 61.8% below the Diversified Financial Services median (#96 of 177)
No single metric tells the full story. See the ELVAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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