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James Hardie IndustriesFRA:JHA +0.76%70 Net-Net Working Capital is €-8.95 as of Jun. 2026. GuruFocus rates FRA:JHA with a GF Score™ of 70/100. The stock has 9 warning signs investors should review. Among 103 Building Materials companies, James Hardie Industries ranks worse than 970872.82% 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.
James Hardie Industries's Net-Net Working Capital for the quarter that ended in Jun. 2026 was €-8.95.
The industry rank for James Hardie Industries's Net-Net Working Capital or its related term are showing as below:
FRA:JHA's Price-to-Net-Net-Working-Capital is not ranked *
in the Building Materials industry.
Industry Median: 7.06 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
James Hardie Industries (FRA:JHA) 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.
James Hardie Industries Net-Net Working Capital Related Terms
James Hardie Industries Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for James Hardie Industries'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.
James Hardie Industries Net-Net Working Capital Chart
FRA:JHA vs EXP, KNF, USLM: Net-Net Working Capital Comparison
For the Building Materials subindustry, James Hardie Industries'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.
James Hardie Industries Price-to-Net-Net-Working-Capital vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, James Hardie Industries's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where James Hardie Industries'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 €-8.95 mean?
James Hardie Industries (FRA:JHA) has a Net-Net Working Capital of €-8.95 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 James Hardie Industries According to the industry distribution chart, James Hardie Industries ranks #999999 out of 103 companies in the Building Materials industry.
Is James Hardie Industries' Net-Net Working Capital too high?
James Hardie Industries' current Net-Net Working Capital is €-8.95. Based on the distribution chart, James Hardie Industries ranks #999999 out of 103 companies in the Building Materials industry, which is in the bottom quartile relative to peers. Overall, James Hardie Industries has a GF Score™ of 70/100, reflecting its overall financial health beyond just this single metric.
How does James Hardie Industries' Net-Net Working Capital compare to EXP and KNF?
According to the Building Materials industry distribution chart, James Hardie Industries ranks #999999 out of 103 companies for Net-Net Working Capital. This places James Hardie Industries in the lower half of its industry. The industry median Net-Net Working Capital is 7.06. 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 Building Materials company?
The median Net-Net Working Capital among Building Materials companies is 7.06, based on 103 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 James Hardie Industries For the Building Materials industry, the median Net-Net Working Capital is 7.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. James Hardie Industries's current Net-Net Working Capital is €-8.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is James Hardie Industries stock overvalued right now?
James Hardie Industries (FRA:JHA) has a current Net-Net Working Capital of €-8.95. The current Net-Net Working Capital is €-8.95. James Hardie Industries' overall GF Score™ is 70/100 with 9 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 James Hardie Industries (FRA:JHA), the current Net-Net Working Capital is €-8.95 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.
James Hardie is a manufacturer of fiber cement-based building products, selling primarily to the residential construction industry. North America is the primary geography, generating about 80% of group earnings. Here, it is the largest manufacturer of fiber cement, which is mainly used for exterior siding on houses. Following the Azek acquisition in 2025, it also produces wooden composite decking materials, siding trims, and accessories for outdoor areas including stair and deck railing. Businesses in Australia, New Zealand, and Europe, make up the rest of earnings.
70GF Score
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