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Capital Environment HoldingsFRA:H2Y Net-Net Working Capital is €-0.08 as of Dec. 2025. The stock has 4 warning signs investors should review. Among 59 Waste Management companies, Capital Environment Holdings ranks worse than 1694913.56% 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.
The industry rank for Capital Environment Holdings's Net-Net Working Capital or its related term are showing as below:
FRA:H2Y's Price-to-Net-Net-Working-Capital is not ranked *
in the Waste Management industry.
Industry Median: 6.35 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Capital Environment Holdings (FRA:H2Y) 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.
Capital Environment Holdings Net-Net Working Capital Related Terms
Capital Environment Holdings 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.
Capital Environment Holdings Net-Net Working Capital Chart
FRA:H2Y vs WM, RSG, WCN: Net-Net Working Capital Comparison
For the Waste Management subindustry, Capital Environment Holdings'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.
Capital Environment Holdings Price-to-Net-Net-Working-Capital vs Waste Management Industry
For the Waste Management industry and Industrials sector, Capital Environment Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Capital Environment Holdings'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 €-0.08 mean?
Capital Environment Holdings (FRA:H2Y) has a Net-Net Working Capital of €-0.08 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 Capital Environment Holdings According to the industry distribution chart, Capital Environment Holdings ranks #999999 out of 59 companies in the Waste Management industry.
Is Capital Environment Holdings' Net-Net Working Capital too high?
Capital Environment Holdings' current Net-Net Working Capital is €-0.08. Based on the distribution chart, Capital Environment Holdings ranks #999999 out of 59 companies in the Waste Management industry, which is in the bottom quartile relative to peers.
How does Capital Environment Holdings' Net-Net Working Capital compare to WM and RSG?
According to the Waste Management industry distribution chart, Capital Environment Holdings ranks #999999 out of 59 companies for Net-Net Working Capital. This places Capital Environment Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 6.35. 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 Waste Management company?
The median Net-Net Working Capital among Waste Management companies is 6.35, based on 59 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 Capital Environment Holdings For the Waste Management industry, the median Net-Net Working Capital is 6.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Capital Environment Holdings's current Net-Net Working Capital is €-0.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Capital Environment Holdings stock overvalued right now?
Based on GuruFocus' analysis, Capital Environment Holdings (FRA:H2Y) is currently considered Possible Value Trap. The stock's GF Value™ is €0.01, compared to a current price of €0.01 — trading 40% below its estimated fair value. The current Net-Net Working Capital is €-0.08. 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 Capital Environment Holdings (FRA:H2Y), the current Net-Net Working Capital is €-0.08 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.
Capital Environment Holdings Ltd is an investment holding company engaged in the provision of waste treatment technologies and services, which specializes in technology development, design, system integration, project investment, consultancy, operation, and maintenance of waste treatment facilities, especially waste-to-energy projects. The Group has a single reportable segment which is the Waste treatment & waste-to-energy business.
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