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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.
MIND Technology's Net-Net Working Capital for the quarter that ended in Apr. 2026 was €2.47.
The industry rank for MIND Technology's Net-Net Working Capital or its related term are showing as below:
FRA:MI70's Price-to-Net-Net-Working-Capital is ranked better than 92.73% of 1156
companies
in the Hardware industry
Industry Median: 9.01
vs FRA:MI70: 1.51
MIND Technology (FRA:MI70) 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.
MIND Technology Net-Net Working Capital Related Terms
MIND Technology Net-Net Working Capital Historical Data
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The historical data trend for MIND Technology'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:MI70 vs AATC, ACFN, TRCK: Net-Net Working Capital Comparison
For the Scientific & Technical Instruments subindustry, MIND Technology'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.
MIND Technology Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, MIND Technology's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where MIND Technology'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 €2.47 mean?
MIND Technology (FRA:MI70) has a Net-Net Working Capital of €2.47 as of Apr. 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 MIND Technology According to the industry distribution chart, MIND Technology ranks #84 out of 1156 companies in the Hardware industry, placing it in the top 7.3%.
Is MIND Technology's Net-Net Working Capital too high?
MIND Technology's current Net-Net Working Capital is €2.47. Based on the distribution chart, MIND Technology ranks #84 out of 1156 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, MIND Technology has a GF Score™ of 44/100, reflecting its overall financial health beyond just this single metric.
How does MIND Technology's Net-Net Working Capital compare to AATC and ACFN?
According to the Hardware industry distribution chart, MIND Technology ranks #84 out of 1156 companies for Net-Net Working Capital. This places MIND Technology in the top 7% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 9.01. 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 Hardware company?
The median Net-Net Working Capital among Hardware companies is 9.01, based on 1,156 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 MIND Technology For the Hardware industry, the median Net-Net Working Capital is 9.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MIND Technology's current Net-Net Working Capital is €2.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MIND Technology stock overvalued right now?
MIND Technology (FRA:MI70) has a current Net-Net Working Capital of €2.47. The stock's GF Value™ is €1.12, compared to a current price of €3.62 — trading 223.2% above its estimated fair value. The current Net-Net Working Capital is €2.47. MIND Technology's overall GF Score™ is 44/100 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 MIND Technology (FRA:MI70), the current Net-Net Working Capital is €2.47 as of Apr. 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.
Is MIND Technology (FRA:MI70) Overvalued in 2026?
Based on GuruFocus' analysis, MIND Technology stock appears to be overvalued.
The current stock price of €3.62 is trading 223.2% above its estimated GF Value™ of €1.12.
Key valuation signals for FRA:MI70:
Net-Net Working Capital: €2.47
GF Value™: €1.12 vs. price of €3.62 (223.2% above fair value)
No single metric tells the full story. See the FRA:MI70 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MIND Technology Inc provides technology and solutions for exploration, survey, and defense applications in oceanographic, hydrographic, defense, seismic, and security industries. The company operates in single segment namely, Seamap which provides services and products, including engineering, repairs and software licensing, utilized in marine exploration, marine survey and maritime security for marine survey companies, seismic survey contractors, research institutes, non-military government organizations and operators of port facilities and other offshore installations. The company generates more revenue from Seamap Marine Products. The company's geographical segments include the United States; China, Norway; Turkey; Singapore; and Canada & Other.
44GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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