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NOVONIXFRA:GC3 -8.06%37 Net-Net Working Capital is €-0.04 as of Dec. 2025. GuruFocus rates FRA:GC3 with a GF Score™ of 37/100. The stock has 4 warning signs investors should review. Among 1,361 Industrial Products companies, NOVONIX ranks worse than 73475.31% on this metric.
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.
NOVONIX's Net-Net Working Capital for the quarter that ended in Dec. 2025 was €-0.04.
The industry rank for NOVONIX's Net-Net Working Capital or its related term are showing as below:
FRA:GC3's Price-to-Net-Net-Working-Capital is not ranked *
in the Industrial Products industry.
Industry Median: 7.81 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
NOVONIX (FRA:GC3) 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.
NOVONIX Net-Net Working Capital Related Terms
NOVONIX Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for NOVONIX'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:GC3 vs VRT, BE: Net-Net Working Capital Comparison
For the Electrical Equipment & Parts subindustry, NOVONIX'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.
NOVONIX Price-to-Net-Net-Working-Capital vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, NOVONIX's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where NOVONIX'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 €-0.04 mean?
NOVONIX (FRA:GC3) has a Net-Net Working Capital of €-0.04 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 NOVONIX According to the industry distribution chart, NOVONIX ranks #999999 out of 1361 companies in the Industrial Products industry.
Is NOVONIX's Net-Net Working Capital too high?
NOVONIX's current Net-Net Working Capital is €-0.04. Based on the distribution chart, NOVONIX ranks #999999 out of 1361 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, NOVONIX has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does NOVONIX's Net-Net Working Capital compare to VRT and BE?
According to the Industrial Products industry distribution chart, NOVONIX ranks #999999 out of 1361 companies for Net-Net Working Capital. This places NOVONIX in the lower half of its industry. The industry median Net-Net Working Capital is 7.81. 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 an Industrial Products company?
The median Net-Net Working Capital among Industrial Products companies is 7.81, based on 1,361 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 NOVONIX For the Industrial Products industry, the median Net-Net Working Capital is 7.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NOVONIX's current Net-Net Working Capital is €-0.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NOVONIX stock overvalued right now?
NOVONIX (FRA:GC3) has a current Net-Net Working Capital of €-0.04. The current Net-Net Working Capital is €-0.04. NOVONIX's overall GF Score™ is 37/100 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 NOVONIX (FRA:GC3), the current Net-Net Working Capital is €-0.04 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.
NOVONIX Ltd is a battery technology company developing and scaling materials and equipment critical to the lithium-ion battery supply chain. The company has three operating segments: Battery Materials: It develops and manufactures battery anode materials, ii) Battery Technology: It develops and manufactures battery cell testing equipment, performs consulting services and carries out research and development in battery development, and Graphite Exploration: It manages the maintenance and future development of Mount Dromedary natural graphite deposit. The majority of the company's revenue is derived from the Battery Technology segment. Geographically, the maximum revenue is derived from North America, followed by Asia, and Europe.
37GF Score
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