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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.
Charoen Pokphand Foods PCL's Net-Net Working Capital for the quarter that ended in Mar. 2026 was €-1.85.
The industry rank for Charoen Pokphand Foods PCL's Net-Net Working Capital or its related term are showing as below:
FRA:CPOF's Price-to-Net-Net-Working-Capital is not ranked *
in the Consumer Packaged Goods industry.
Industry Median: 6.53 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Charoen Pokphand Foods PCL (FRA:CPOF) 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.
Charoen Pokphand Foods PCL Net-Net Working Capital Related Terms
Charoen Pokphand Foods PCL 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.
Charoen Pokphand Foods PCL Net-Net Working Capital Chart
FRA:CPOF vs ADM, BG, TSN: Net-Net Working Capital Comparison
For the Farm Products subindustry, Charoen Pokphand Foods PCL'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.
Charoen Pokphand Foods PCL Price-to-Net-Net-Working-Capital vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Charoen Pokphand Foods PCL's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Charoen Pokphand Foods PCL'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 €-1.85 mean?
Charoen Pokphand Foods PCL (FRA:CPOF) has a Net-Net Working Capital of €-1.85 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 Charoen Pokphand Foods PCL According to the industry distribution chart, Charoen Pokphand Foods PCL ranks #999999 out of 664 companies in the Consumer Packaged Goods industry.
Is Charoen Pokphand Foods PCL's Net-Net Working Capital too high?
Charoen Pokphand Foods PCL's current Net-Net Working Capital is €-1.85. Based on the distribution chart, Charoen Pokphand Foods PCL ranks #999999 out of 664 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Charoen Pokphand Foods PCL has a GF Score™ of 47/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Charoen Pokphand Foods PCL's Net-Net Working Capital compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Charoen Pokphand Foods PCL ranks #999999 out of 664 companies for Net-Net Working Capital. This places Charoen Pokphand Foods PCL in the lower half of its industry. The industry median Net-Net Working Capital is 6.53. 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 Consumer Packaged Goods company?
The median Net-Net Working Capital among Consumer Packaged Goods companies is 6.53, based on 664 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 Charoen Pokphand Foods PCL For the Consumer Packaged Goods industry, the median Net-Net Working Capital is 6.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Charoen Pokphand Foods PCL's current Net-Net Working Capital is €-1.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Charoen Pokphand Foods PCL stock overvalued right now?
Based on GuruFocus' analysis, Charoen Pokphand Foods PCL (FRA:CPOF) is currently considered Fairly Valued. The stock's GF Value™ is €0.54, compared to a current price of €0.56 — trading 2.8% above its estimated fair value. The current Net-Net Working Capital is €-1.85. Charoen Pokphand Foods PCL's overall GF Score™ is 47/100 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 Charoen Pokphand Foods PCL (FRA:CPOF), the current Net-Net Working Capital is €-1.85 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 Charoen Pokphand Foods PCL (FRA:CPOF) Overvalued in 2026?
Based on GuruFocus' analysis, Charoen Pokphand Foods PCL stock appears to be overvalued.
The current stock price of €0.56 is trading 2.8% above its estimated GF Value™ of €0.54.
GuruFocus considers Charoen Pokphand Foods PCL to be Fairly Valued.
Key valuation signals for FRA:CPOF:
Net-Net Working Capital: €-1.85
GF Value™: €0.54 vs. price of €0.56 (2.8% above fair value)
No single metric tells the full story. See the FRA:CPOF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Charoen Pokphand Foods PCL operates in agro-industrial and integrated food businesses. The group's business operations are located throughout Thailand and overseas. The businesses are divided into two main segments, namely the livestock business, which comprises chicken, duck, and pigs, and the aquaculture business, which comprises shrimp and fish. The two main businesses are vertically integrated, starting from sourcing raw materials for animal feed production, manufacturing animal feed, breeding animals, farming animals for commercial purposes, primary processing meat, producing ready-to-eat food products, and operating food retail outlets and restaurants.
47GF Score
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