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FWD Group HoldingsFRA:O62 +1.11%30 Net-Net Working Capital is €-12.63 as of Jun. 2026. GuruFocus rates FRA:O62 with a GF Score™ of 30/100. The stock has 3 warning signs investors should review. Among 63 Insurance companies, FWD Group Holdings ranks worse than 1587300% 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.
FWD Group Holdings's Net-Net Working Capital for the quarter that ended in Jun. 2026 was €-12.63.
The industry rank for FWD Group Holdings's Net-Net Working Capital or its related term are showing as below:
FRA:O62's Price-to-Net-Net-Working-Capital is not ranked *
in the Insurance industry.
Industry Median: 7.47 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
FWD Group Holdings (FRA:O62) 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.
FWD Group Holdings Net-Net Working Capital Related Terms
FWD Group Holdings Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for FWD Group 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:O62 vs MET, AFL, PRU: Net-Net Working Capital Comparison
For the Insurance - Life subindustry, FWD Group 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.
FWD Group Holdings Price-to-Net-Net-Working-Capital vs Insurance Industry
For the Insurance industry and Financial Services sector, FWD Group Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where FWD Group 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 €-12.63 mean?
FWD Group Holdings (FRA:O62) has a Net-Net Working Capital of €-12.63 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 FWD Group Holdings According to the industry distribution chart, FWD Group Holdings ranks #999999 out of 63 companies in the Insurance industry.
Is FWD Group Holdings' Net-Net Working Capital too high?
FWD Group Holdings' current Net-Net Working Capital is €-12.63. Based on the distribution chart, FWD Group Holdings ranks #999999 out of 63 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, FWD Group Holdings has a GF Score™ of 30/100, reflecting its overall financial health beyond just this single metric.
How does FWD Group Holdings' Net-Net Working Capital compare to MET and AFL?
According to the Insurance industry distribution chart, FWD Group Holdings ranks #999999 out of 63 companies for Net-Net Working Capital. This places FWD Group Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 7.47. 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 an Insurance company?
The median Net-Net Working Capital among Insurance companies is 7.47, based on 63 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 FWD Group Holdings For the Insurance industry, the median Net-Net Working Capital is 7.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FWD Group Holdings's current Net-Net Working Capital is €-12.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FWD Group Holdings stock overvalued right now?
FWD Group Holdings (FRA:O62) has a current Net-Net Working Capital of €-12.63. The current Net-Net Working Capital is €-12.63. FWD Group Holdings' overall GF Score™ is 30/100 with 3 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 FWD Group Holdings (FRA:O62), the current Net-Net Working Capital is €-12.63 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.
FWD Group Holdings Ltd is a holding company. The Company and its subsidiaries are principally engaged in the provision of products and services focusing on life insurance, general insurance, and investment services (the Insurance Business). The operating segments of the company are each of the geographical markets in which the Operating Group operates, which are Hong Kong, Thailand, Japan, Emerging Markets & Corporate, and Others.
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