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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:27K's Price-to-Net-Net-Working-Capital is not ranked *
in the Utilities - Regulated industry.
Industry Median: 4.47 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Kangda International Environmental Co (FRA:27K) 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.
Kangda International Environmental Co Net-Net Working Capital Related Terms
Kangda International Environmental 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.
Kangda International Environmental Co Net-Net Working Capital Chart
FRA:27K vs AWK, WTRG, AWR: Net-Net Working Capital Comparison
For the Utilities - Regulated Water subindustry, Kangda International Environmental 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.
Kangda International Environmental Co Price-to-Net-Net-Working-Capital vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Kangda International Environmental Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Kangda International Environmental 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 €-0.52 mean?
Kangda International Environmental Co (FRA:27K) has a Net-Net Working Capital of €-0.52 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 Kangda International Environmental Co According to the industry distribution chart, Kangda International Environmental Co ranks #999999 out of 57 companies in the Utilities - Regulated industry.
Is Kangda International Environmental Co's Net-Net Working Capital too high?
Kangda International Environmental Co's current Net-Net Working Capital is €-0.52. Based on the distribution chart, Kangda International Environmental Co ranks #999999 out of 57 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Kangda International Environmental Co has a GF Score™ of 38/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kangda International Environmental Co's Net-Net Working Capital compare to AWK and WTRG?
According to the Utilities - Regulated industry distribution chart, Kangda International Environmental Co ranks #999999 out of 57 companies for Net-Net Working Capital. This places Kangda International Environmental Co in the lower half of its industry. The industry median Net-Net Working Capital is 4.47. 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 an Utilities - Regulated company?
The median Net-Net Working Capital among Utilities - Regulated companies is 4.47, based on 57 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 Kangda International Environmental Co For the Utilities - Regulated industry, the median Net-Net Working Capital is 4.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kangda International Environmental Co's current Net-Net Working Capital is €-0.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kangda International Environmental Co stock overvalued right now?
Based on GuruFocus' analysis, Kangda International Environmental Co (FRA:27K) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.03, compared to a current price of €0.08 — trading 178.3% above its estimated fair value. The current Net-Net Working Capital is €-0.52. Kangda International Environmental Co's overall GF Score™ is 38/100 with 5 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 Kangda International Environmental Co (FRA:27K), the current Net-Net Working Capital is €-0.52 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 Kangda International Environmental Co (FRA:27K) Overvalued in 2026?
Based on GuruFocus' analysis, Kangda International Environmental Co stock appears to be overvalued.
The current stock price of €0.08 is trading 178.3% above its estimated GF Value™ of €0.03.
GuruFocus considers Kangda International Environmental Co to be Significantly Overvalued.
Key valuation signals for FRA:27K:
Net-Net Working Capital: €-0.52
GF Value™: €0.03 vs. price of €0.08 (178.3% above fair value)
No single metric tells the full story. See the FRA:27K stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kangda International Environmental Co Ltd provides water and waste treatment, new energy development, and environmental protection equipment. The company has three reportable segments namely Urban Water Treatment, Water Environment Comprehensive Remediation and Rural Water Improvement. It generates maximum revenue from the Urban Water Treatment segment, which engages in the design, construction, upgrade and operation of WTPs, RWTPs, STPs and WDPs, and in the operation and maintenance of waste water treatment facilities entrusted by governments (O&M). Geographically, it derives revenue from Mainland China. It serves various sectors of the water industry such as integrated watershed management, sponge cities, reclaimed water, sludge, heat pump, and photovoltaic.
38GF Score
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