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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.
Nanoform Finland's Net-Net Working Capital for the quarter that ended in Jun. 2026 was €0.09.
The industry rank for Nanoform Finland's Net-Net Working Capital or its related term are showing as below:
FRA:4YL's Price-to-Net-Net-Working-Capital is ranked worse than 72.32% of 813
companies
in the Biotechnology industry
Industry Median: 5.5
vs FRA:4YL: 11.68
Nanoform Finland (FRA:4YL) 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.
Nanoform Finland Net-Net Working Capital Related Terms
Nanoform Finland Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Nanoform Finland'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:4YL vs VRTX, REGN, RVMD: Net-Net Working Capital Comparison
For the Biotechnology subindustry, Nanoform Finland'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.
Nanoform Finland Price-to-Net-Net-Working-Capital vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Nanoform Finland's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Nanoform Finland'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 €0.09 mean?
Nanoform Finland (FRA:4YL) has a Net-Net Working Capital of €0.09 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 Nanoform Finland According to the industry distribution chart, Nanoform Finland ranks #588 out of 813 companies in the Biotechnology industry, placing it in the top 72.3%.
Is Nanoform Finland's Net-Net Working Capital too high?
Nanoform Finland's current Net-Net Working Capital is €0.09. Based on the distribution chart, Nanoform Finland ranks #588 out of 813 companies in the Biotechnology industry, which is below the industry midpoint. Overall, Nanoform Finland has a GF Score™ of 75/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Nanoform Finland's Net-Net Working Capital compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Nanoform Finland ranks #588 out of 813 companies for Net-Net Working Capital. This places Nanoform Finland in the lower half of its industry. The industry median Net-Net Working Capital is 5.50. 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 Biotechnology company?
The median Net-Net Working Capital among Biotechnology companies is 5.50, based on 813 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 Nanoform Finland For the Biotechnology industry, the median Net-Net Working Capital is 5.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nanoform Finland's current Net-Net Working Capital is €0.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nanoform Finland stock overvalued right now?
Based on GuruFocus' analysis, Nanoform Finland (FRA:4YL) is currently considered Possible Value Trap. The stock's GF Value™ is €1.64, compared to a current price of €0.93 — trading 43% below its estimated fair value. The current Net-Net Working Capital is €0.09. Nanoform Finland's overall GF Score™ is 75/100 with 4 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 Nanoform Finland (FRA:4YL), the current Net-Net Working Capital is €0.09 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 Nanoform Finland (FRA:4YL) Overvalued in 2026?
Based on GuruFocus' analysis, Nanoform Finland stock appears to be undervalued.
The current stock price of €0.93 is trading 43% below its estimated GF Value™ of €1.64.
GuruFocus considers Nanoform Finland to be Possible Value Trap.
Key valuation signals for FRA:4YL:
Net-Net Working Capital: €0.09
GF Value™: €1.64 vs. price of €0.93 (43% below fair value)
No single metric tells the full story. See the FRA:4YL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nanoform Finland PLC is a nanoparticle medicine-enabling company. The company works together with pharma and biotech partners to reduce attrition in clinical trials and enhance their molecules' formulation performance through its nano-forming services. Its patented and scalable Controlled Expansion of Supercritical Solutions (CESS) technology produces nano-formed API particles as small as 10nm. This enables poorly soluble molecules in the pharmaceutical pipeline to progress into clinical development by increasing their rate of dissolution and improving their bioavailability. Its technology provides novel opportunities in many value-enhancing drug delivery applications. Geographically, the company generates maximum revenue from Europe, followed by the United States and other regions.
75GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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