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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.
The industry rank for Stockholm Nordtech Group AB's Net-Net Working Capital or its related term are showing as below:
FRA:GD2's Price-to-Net-Net-Working-Capital is not ranked *
in the Software industry.
Industry Median: 6.8 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Stockholm Nordtech Group AB (FRA:GD2) 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.
Stockholm Nordtech Group AB Net-Net Working Capital Related Terms
Stockholm Nordtech Group AB 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.
Stockholm Nordtech Group AB Net-Net Working Capital Chart
Stockholm Nordtech Group AB Annual Data
Trend
Dec22
Dec23
Dec24
Dec25
Net-Net Working Capital
0.00
-0.79
-1.07
-1.37
Stockholm Nordtech Group AB Semi-Annual Data
Dec22
Dec23
Dec24
Dec25
Net-Net Working Capital
0.00
-0.79
-1.07
-1.37
FRA:GD2 vs MSFT, ORCL, PLTR: Net-Net Working Capital Comparison
For the Software - Infrastructure subindustry, Stockholm Nordtech Group 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.
Stockholm Nordtech Group AB Price-to-Net-Net-Working-Capital vs Software Industry
For the Software industry and Technology sector, Stockholm Nordtech Group AB's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Stockholm Nordtech Group 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 €-1.37 mean?
Stockholm Nordtech Group AB (FRA:GD2) has a Net-Net Working Capital of €-1.37 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 Stockholm Nordtech Group AB According to the industry distribution chart, Stockholm Nordtech Group AB ranks #999999 out of 1257 companies in the Software industry.
Is Stockholm Nordtech Group AB's Net-Net Working Capital too high?
Stockholm Nordtech Group AB's current Net-Net Working Capital is €-1.37. Based on the distribution chart, Stockholm Nordtech Group AB ranks #999999 out of 1257 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Stockholm Nordtech Group AB has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Stockholm Nordtech Group AB's Net-Net Working Capital compare to MSFT and ORCL?
According to the Software industry distribution chart, Stockholm Nordtech Group AB ranks #999999 out of 1257 companies for Net-Net Working Capital. This places Stockholm Nordtech Group AB in the lower half of its industry. The industry median Net-Net Working Capital is 6.80. 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 Software company?
The median Net-Net Working Capital among Software companies is 6.80, based on 1,257 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 Stockholm Nordtech Group AB For the Software industry, the median Net-Net Working Capital is 6.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Stockholm Nordtech Group AB's current Net-Net Working Capital is €-1.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Stockholm Nordtech Group AB stock overvalued right now?
Stockholm Nordtech Group AB (FRA:GD2) has a current Net-Net Working Capital of €-1.37. The current Net-Net Working Capital is €-1.37. Stockholm Nordtech Group AB's overall GF Score™ is 20/100 with 2 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 Stockholm Nordtech Group AB (FRA:GD2), the current Net-Net Working Capital is €-1.37 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.
Nordtech Group AB develops and acquires small and medium sized companies that provide mission-critical B2B software solutions in resilient niche markets. Its portfolio includes software businesses serving a range of industries across the Business Platforms, Operational Solutions, and Public Infrastructure segments. The majority of revenue is derived from the Operational solutions segment. The company's software products are used in customer operations and include recurring-revenue business models. The company also supports the adoption of artificial intelligence technologies across its portfolio companies. Its operating model combines ownership oversight with decentralized operations, allowing portfolio companies to manage their day-to-day activities independently.
20GF Score
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