Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Georgia CapitalFRA:2IX -3.76%67 Net-Net Working Capital is €0.10 as of Dec. 2025. GuruFocus rates FRA:2IX with a GF Score™ of 67/100 and a GF Value™ of €48.66 (Fairly Valued). The stock has 3 warning signs investors should review. Among 178 Diversified Financial Services companies, Georgia Capital ranks worse than 95.51% 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.
Georgia Capital's Net-Net Working Capital for the quarter that ended in Dec. 2025 was €0.10.
The industry rank for Georgia Capital's Net-Net Working Capital or its related term are showing as below:
FRA:2IX's Price-to-Net-Net-Working-Capital is ranked worse than 95.51% of 178
companies
in the Diversified Financial Services industry
Industry Median: 1.925
vs FRA:2IX: 441.82
Georgia Capital (FRA:2IX) 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.
Georgia Capital Net-Net Working Capital Related Terms
Georgia Capital Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Georgia Capital'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.
FRA:2IX vs VOYA: Net-Net Working Capital Comparison
For the Financial Conglomerates subindustry, Georgia Capital'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.
Georgia Capital Price-to-Net-Net-Working-Capital vs Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, Georgia Capital's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Georgia Capital'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 €0.10 mean?
Georgia Capital (FRA:2IX) has a Net-Net Working Capital of €0.10 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 Georgia Capital According to the industry distribution chart, Georgia Capital ranks #170 out of 178 companies in the Diversified Financial Services industry, placing it in the top 95.5%.
Is Georgia Capital's Net-Net Working Capital too high?
Georgia Capital's current Net-Net Working Capital is €0.10. Based on the distribution chart, Georgia Capital ranks #170 out of 178 companies in the Diversified Financial Services industry, which is in the bottom quartile relative to peers. Overall, Georgia Capital has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Georgia Capital's Net-Net Working Capital compare to VOYA?
According to the Diversified Financial Services industry distribution chart, Georgia Capital ranks #170 out of 178 companies for Net-Net Working Capital. This places Georgia Capital in the lower half of its industry. The industry median Net-Net Working Capital is 1.93. 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 1.93, based on 178 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 Georgia Capital For the Diversified Financial Services industry, the median Net-Net Working Capital is 1.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Georgia Capital's current Net-Net Working Capital is €0.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Georgia Capital stock overvalued right now?
Based on GuruFocus' analysis, Georgia Capital (FRA:2IX) is currently considered Fairly Valued. The stock's GF Value™ is €48.66, compared to a current price of €48.60 — trading 0.1% below its estimated fair value. The current Net-Net Working Capital is €0.10. Georgia Capital's overall GF Score™ is 67/100 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 Georgia Capital (FRA:2IX), the current Net-Net Working Capital is €0.10 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 Georgia Capital (FRA:2IX) Overvalued in 2026?
Based on GuruFocus' analysis, Georgia Capital stock appears to be undervalued.
The current stock price of €48.60 is trading 0.1% below its estimated GF Value™ of €48.66.
GuruFocus considers Georgia Capital to be Fairly Valued.
Key valuation signals for FRA:2IX:
Net-Net Working Capital: €0.10
GF Value™: €48.66 vs. price of €48.60 (0.1% below fair value)
No single metric tells the full story. See the FRA:2IX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Georgia Capital PLC is focused on buying, building and developing businesses in Georgia and monetising investments as it matures. The company currently has the following private large portfolio businesses (i) a retail (pharmacy) business, (ii) an insurance business (P&C and medical insurance), and (iii) a healthcare services business (hospitals and clinics and diagnostics). The company's operating segments are: listed and observable portfolio companies, private large portfolio companies, private emerging and other portfolio companies, and corporate centre.
67GF Score
Get the complete analysis for FRA:2IX
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:2IX has been successfully added to your 
