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Image Scan HoldingsFRA:LWN Net-Net Working Capital is €0.01 as of Mar. 2026. The stock has 6 warning signs investors should review. Among 446 Business Services companies, Image Scan Holdings ranks better than 82.96% 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.
Image Scan Holdings's Net-Net Working Capital for the quarter that ended in Mar. 2026 was €0.01.
The industry rank for Image Scan Holdings's Net-Net Working Capital or its related term are showing as below:
FRA:LWN's Price-to-Net-Net-Working-Capital is ranked better than 82.96% of 446
companies
in the Business Services industry
Industry Median: 5.455
vs FRA:LWN: 1.25
Image Scan Holdings (FRA:LWN) 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.
Image Scan Holdings Net-Net Working Capital Related Terms
Image Scan Holdings Net-Net Working Capital Historical Data
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The historical data trend for Image Scan Holdings'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:LWN vs ALLE, MSA, ADT: Net-Net Working Capital Comparison
For the Security & Protection Services subindustry, Image Scan 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.
Image Scan Holdings Price-to-Net-Net-Working-Capital vs Business Services Industry
For the Business Services industry and Industrials sector, Image Scan Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Image Scan 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 €0.01 mean?
Image Scan Holdings (FRA:LWN) has a Net-Net Working Capital of €0.01 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 Image Scan Holdings According to the industry distribution chart, Image Scan Holdings ranks #76 out of 446 companies in the Business Services industry, placing it in the top 17%.
Is Image Scan Holdings' Net-Net Working Capital too high?
Image Scan Holdings' current Net-Net Working Capital is €0.01. Based on the distribution chart, Image Scan Holdings ranks #76 out of 446 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers.
How does Image Scan Holdings' Net-Net Working Capital compare to ALLE and MSA?
According to the Business Services industry distribution chart, Image Scan Holdings ranks #76 out of 446 companies for Net-Net Working Capital. This places Image Scan Holdings in the top 17% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 5.46. 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 Business Services company?
The median Net-Net Working Capital among Business Services companies is 5.46, based on 446 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 Image Scan Holdings For the Business Services industry, the median Net-Net Working Capital is 5.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Image Scan Holdings's current Net-Net Working Capital is €0.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Image Scan Holdings stock overvalued right now?
Image Scan Holdings (FRA:LWN) has a current Net-Net Working Capital of €0.01. The current Net-Net Working Capital is €0.01. 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 Image Scan Holdings (FRA:LWN), the current Net-Net Working Capital is €0.01 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.
Image Scan Holdings PLC is principally engaged in the development and sale of portable X-ray systems for security and counter-terrorism applications. Additionally, it also manufactures industrial X-ray inspection systems. The company offers a range of portable, rapid deployment, and static security solutions to several security sectors, including government and private security organisations. It serves police, military, security services, bomb disposal teams, prisons, ports, airports, cargo handlers, freight forwarders, corporate headquarters, mail rooms, and operators of stadiums and events. The company derives revenue from the sale of its equipment. Geographically, it generates the majority of revenue from the United Kingdom.
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