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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.
CIG Shanghai Co's Net-Net Working Capital for the quarter that ended in Mar. 2026 was €7.06.
The industry rank for CIG Shanghai Co's Net-Net Working Capital or its related term are showing as below:
FRA:35P's Price-to-Net-Net-Working-Capital is ranked worse than 73.09% of 1204
companies
in the Hardware industry
Industry Median: 8.465
vs FRA:35P: 19.76
CIG Shanghai Co (FRA:35P) 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.
CIG Shanghai Co Net-Net Working Capital Related Terms
CIG Shanghai Co Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for CIG Shanghai Co'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.
For the Communication Equipment subindustry, CIG Shanghai 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.
CIG Shanghai Co Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, CIG Shanghai Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where CIG Shanghai 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 €7.06 mean?
CIG Shanghai Co (FRA:35P) has a Net-Net Working Capital of €7.06 as of Mar. 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 CIG Shanghai Co According to the industry distribution chart, CIG Shanghai Co ranks #880 out of 1204 companies in the Hardware industry, placing it in the top 73.1%.
Is CIG Shanghai Co's Net-Net Working Capital too high?
CIG Shanghai Co's current Net-Net Working Capital is €7.06. Based on the distribution chart, CIG Shanghai Co ranks #880 out of 1204 companies in the Hardware industry, which is below the industry midpoint. Overall, CIG Shanghai Co has a GF Score™ of 61/100, reflecting its overall financial health beyond just this single metric.
How does CIG Shanghai Co's Net-Net Working Capital compare to ?
According to the Hardware industry distribution chart, CIG Shanghai Co ranks #880 out of 1204 companies for Net-Net Working Capital. This places CIG Shanghai Co in the lower half of its industry. The industry median Net-Net Working Capital is 8.47. 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 a Hardware company?
The median Net-Net Working Capital among Hardware companies is 8.47, based on 1,204 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 CIG Shanghai Co For the Hardware industry, the median Net-Net Working Capital is 8.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CIG Shanghai Co's current Net-Net Working Capital is €7.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CIG Shanghai Co stock overvalued right now?
CIG Shanghai Co (FRA:35P) has a current Net-Net Working Capital of €7.06. The stock's GF Value™ is €3.18, compared to a current price of €7.11 — trading 123.7% above its estimated fair value. The current Net-Net Working Capital is €7.06. CIG Shanghai Co's overall GF Score™ is 61/100 with 7 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 CIG Shanghai Co (FRA:35P), the current Net-Net Working Capital is €7.06 as of Mar. 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 CIG Shanghai Co (FRA:35P) Overvalued in 2026?
Based on GuruFocus' analysis, CIG Shanghai Co stock appears to be overvalued.
The current stock price of €7.11 is trading 123.7% above its estimated GF Value™ of €3.18.
Key valuation signals for FRA:35P:
Net-Net Working Capital: €7.06
GF Value™: €3.18 vs. price of €7.11 (123.7% above fair value)
No single metric tells the full story. See the FRA:35P stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CIG Shanghai Co Ltd operates in the communications industry, and is engaged in the research and development, production, and sales of terminal equipment for telecommunications, data communication, and enterprise networks (including telecommunications broadband, wireless networks, small cells, switches, and basic hardware for industrial IoT), as well as high-speed optical module products.
61GF Score
Get the complete analysis for FRA:35P
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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