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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.
FRA:0Q7's Price-to-Net-Net-Working-Capital is not ranked *
in the REITs industry.
Industry Median: 16.69 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Noval Property Real Estate Investment Co (FRA:0Q7) 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.
Noval Property Real Estate Investment Co Net-Net Working Capital Related Terms
Noval Property Real Estate Investment 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.
Noval Property Real Estate Investment Co Net-Net Working Capital Chart
Noval Property Real Estate Investment Co Annual Data
Trend
Dec21
Dec22
Dec23
Dec24
Dec25
Net-Net Working Capital
-0.98
-1.14
-1.34
-1.22
-1.28
Noval Property Real Estate Investment Co Semi-Annual Data
FRA:0Q7 vs VICI, WPC, BNL: Net-Net Working Capital Comparison
For the REIT - Diversified subindustry, Noval Property Real Estate Investment 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.
Noval Property Real Estate Investment Co Price-to-Net-Net-Working-Capital vs REITs Industry
For the REITs industry and Real Estate sector, Noval Property Real Estate Investment Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Noval Property Real Estate Investment 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 €-1.28 mean?
Noval Property Real Estate Investment Co (FRA:0Q7) has a Net-Net Working Capital of €-1.28 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 Noval Property Real Estate Investment Co According to the industry distribution chart, Noval Property Real Estate Investment Co ranks #999999 out of 110 companies in the REITs industry.
Is Noval Property Real Estate Investment Co's Net-Net Working Capital too high?
Noval Property Real Estate Investment Co's current Net-Net Working Capital is €-1.28. Based on the distribution chart, Noval Property Real Estate Investment Co ranks #999999 out of 110 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Noval Property Real Estate Investment Co has a GF Score™ of 26/100, reflecting its overall financial health beyond just this single metric.
How does Noval Property Real Estate Investment Co's Net-Net Working Capital compare to VICI and WPC?
According to the REITs industry distribution chart, Noval Property Real Estate Investment Co ranks #999999 out of 110 companies for Net-Net Working Capital. This places Noval Property Real Estate Investment Co in the lower half of its industry. The industry median Net-Net Working Capital is 16.69. 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 REITs company?
The median Net-Net Working Capital among REITs companies is 16.69, based on 110 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 Noval Property Real Estate Investment Co For the REITs industry, the median Net-Net Working Capital is 16.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Noval Property Real Estate Investment Co's current Net-Net Working Capital is €-1.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Noval Property Real Estate Investment Co stock overvalued right now?
Noval Property Real Estate Investment Co (FRA:0Q7) has a current Net-Net Working Capital of €-1.28. The current Net-Net Working Capital is €-1.28. Noval Property Real Estate Investment Co's overall GF Score™ is 26/100 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 Noval Property Real Estate Investment Co (FRA:0Q7), the current Net-Net Working Capital is €-1.28 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.
Noval Property Real Estate Investment Co is a well-diversified Real Estate Investment Company (REIC) engaged in sourcing, evaluating, and acquiring attractive investment opportunities mainly in the Greek real estate market. The company's investment portfolio includes various real estate properties comprising office buildings, commercial spaces, retail stores, hospitality properties, logistics, industrial buildings, and warehouses, as well as land and buildings for future development. Its operating segments are Retail, which derives maximum revenue, Offices, Industrial properties, Hospitality, and Other. Geographically, the company derives a majority of its revenue from Greece in the form of rental income, and the rest from Bulgaria.
26GF Score
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