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.
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.
Hanking Gold International's Net-Net Working Capital for the quarter that ended in Jun. 2026 was €-0.01.
The industry rank for Hanking Gold International's Net-Net Working Capital or its related term are showing as below:
FRA:6CH's Price-to-Net-Net-Working-Capital is not ranked *
in the Steel industry.
Industry Median: 4.53 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Hanking Gold International (FRA:6CH) 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.
Hanking Gold International Net-Net Working Capital Related Terms
Hanking Gold International 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.
Hanking Gold International Net-Net Working Capital Chart
Hanking Gold International Net-Net Working Capital Competitor Comparison
For the Steel subindustry, Hanking Gold International'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.
Hanking Gold International Price-to-Net-Net-Working-Capital vs Steel Industry
For the Steel industry and Basic Materials sector, Hanking Gold International's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Hanking Gold International'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?
Hanking Gold International (FRA:6CH) has a Net-Net Working Capital of €-0.01 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 Hanking Gold International According to the industry distribution chart, Hanking Gold International ranks #999999 out of 169 companies in the Steel industry.
Is Hanking Gold International's Net-Net Working Capital too high?
Hanking Gold International's current Net-Net Working Capital is €-0.01. Based on the distribution chart, Hanking Gold International ranks #999999 out of 169 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Hanking Gold International has a GF Score™ of 55/100, reflecting its overall financial health beyond just this single metric.
How does Hanking Gold International's Net-Net Working Capital compare to competitors?
According to the Steel industry distribution chart, Hanking Gold International ranks #999999 out of 169 companies for Net-Net Working Capital. This places Hanking Gold International in the lower half of its industry. The industry median Net-Net Working Capital is 4.53. 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 Steel company?
The median Net-Net Working Capital among Steel companies is 4.53, based on 169 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 Hanking Gold International For the Steel industry, the median Net-Net Working Capital is 4.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hanking Gold International'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 Hanking Gold International stock overvalued right now?
Hanking Gold International (FRA:6CH) has a current Net-Net Working Capital of €-0.01. The stock's GF Value™ is €0.07, compared to a current price of €0.32 — trading 360% above its estimated fair value. The current Net-Net Working Capital is €-0.01. Hanking Gold International's overall GF Score™ is 55/100 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 Hanking Gold International (FRA:6CH), the current Net-Net Working Capital is €-0.01 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 Hanking Gold International (FRA:6CH) Overvalued in 2026?
Based on GuruFocus' analysis, Hanking Gold International stock appears to be overvalued.
The current stock price of €0.32 is trading 360% above its estimated GF Value™ of €0.07.
Key valuation signals for FRA:6CH:
Net-Net Working Capital: €-0.01
GF Value™: €0.07 vs. price of €0.32 (360% above fair value)
No single metric tells the full story. See the FRA:6CH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hanking Gold International Ltd is a Hong Kong-listed mining company. It specializes in exploration, mining, processing, smelting, and sales of iron ore, high-purity iron, and gold. Geographically, the company operates in Mainland China, Hong Kong and Australia generating majority revenue from Mainland China region.
55GF Score
Get the complete analysis for FRA:6CH
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:6CH has been successfully added to your 
