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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.
NextCell Pharma AB's Net-Net Working Capital for the quarter that ended in Dec. 2025 was €0.01.
The industry rank for NextCell Pharma AB's Net-Net Working Capital or its related term are showing as below:
FRA:65G's Price-to-Net-Net-Working-Capital is ranked worse than 63.69% of 818
companies
in the Biotechnology industry
Industry Median: 5.3
vs FRA:65G: 10.20
NextCell Pharma AB (FRA:65G) 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.
NextCell Pharma AB Net-Net Working Capital Related Terms
NextCell Pharma AB Net-Net Working Capital Historical Data
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The historical data trend for NextCell Pharma AB'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:65G vs VRTX, REGN, RVMD: Net-Net Working Capital Comparison
For the Biotechnology subindustry, NextCell Pharma AB'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.
NextCell Pharma AB Price-to-Net-Net-Working-Capital vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, NextCell Pharma AB's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where NextCell Pharma AB'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 €0.01 mean?
NextCell Pharma AB (FRA:65G) has a Net-Net Working Capital of €0.01 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 NextCell Pharma AB According to the industry distribution chart, NextCell Pharma AB ranks #521 out of 818 companies in the Biotechnology industry, placing it in the top 63.7%.
Is NextCell Pharma AB's Net-Net Working Capital too high?
NextCell Pharma AB's current Net-Net Working Capital is €0.01. Based on the distribution chart, NextCell Pharma AB ranks #521 out of 818 companies in the Biotechnology industry, which is below the industry midpoint. Overall, NextCell Pharma AB has a GF Score™ of 45/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NextCell Pharma AB's Net-Net Working Capital compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, NextCell Pharma AB ranks #521 out of 818 companies for Net-Net Working Capital. This places NextCell Pharma AB in the lower half of its industry. The industry median Net-Net Working Capital is 5.30. 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 5.30, based on 818 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 NextCell Pharma AB For the Biotechnology industry, the median Net-Net Working Capital is 5.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NextCell Pharma AB's current Net-Net Working Capital is €0.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NextCell Pharma AB stock overvalued right now?
Based on GuruFocus' analysis, NextCell Pharma AB (FRA:65G) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.06, compared to a current price of €0.10 — trading 70% above its estimated fair value. The current Net-Net Working Capital is €0.01. NextCell Pharma AB's overall GF Score™ is 45/100 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 NextCell Pharma AB (FRA:65G), the current Net-Net Working Capital is €0.01 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 NextCell Pharma AB (FRA:65G) Overvalued in 2026?
Based on GuruFocus' analysis, NextCell Pharma AB stock appears to be overvalued.
The current stock price of €0.10 is trading 70% above its estimated GF Value™ of €0.06.
GuruFocus considers NextCell Pharma AB to be Significantly Overvalued.
Key valuation signals for FRA:65G:
Net-Net Working Capital: €0.01
GF Value™: €0.06 vs. price of €0.10 (70% above fair value)
No single metric tells the full story. See the FRA:65G stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NextCell Pharma AB is a healthcare services provider. The company is engaged in the research of stem cell and is developing the candidate drug ProTrans for the treatment of diabetes and immunosuppression in kidney transplants.
45GF Score
Get the complete analysis for FRA:65G
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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