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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.
The industry rank for Greenland Hong Kong Holdings's Net-Net Working Capital or its related term are showing as below:
FRA:QFRA's Price-to-Net-Net-Working-Capital is not ranked *
in the Real Estate industry.
Industry Median: 4.815 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Greenland Hong Kong Holdings (FRA:QFRA) 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.
Greenland Hong Kong Holdings Net-Net Working Capital Related Terms
Greenland Hong Kong 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.
Greenland Hong Kong Holdings Net-Net Working Capital Chart
Greenland Hong Kong Holdings Net-Net Working Capital Competitor Comparison
For the Real Estate - Development subindustry, Greenland Hong Kong 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.
Greenland Hong Kong Holdings Price-to-Net-Net-Working-Capital vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Greenland Hong Kong Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Greenland Hong Kong 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 €-2.94 mean?
Greenland Hong Kong Holdings (FRA:QFRA) has a Net-Net Working Capital of €-2.94 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 Greenland Hong Kong Holdings According to the industry distribution chart, Greenland Hong Kong Holdings ranks #999999 out of 328 companies in the Real Estate industry.
Is Greenland Hong Kong Holdings' Net-Net Working Capital too high?
Greenland Hong Kong Holdings' current Net-Net Working Capital is €-2.94. Based on the distribution chart, Greenland Hong Kong Holdings ranks #999999 out of 328 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Greenland Hong Kong Holdings has a GF Score™ of 36/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Greenland Hong Kong Holdings' Net-Net Working Capital compare to competitors?
According to the Real Estate industry distribution chart, Greenland Hong Kong Holdings ranks #999999 out of 328 companies for Net-Net Working Capital. This places Greenland Hong Kong Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 4.82. 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 Real Estate company?
The median Net-Net Working Capital among Real Estate companies is 4.82, based on 328 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 Greenland Hong Kong Holdings For the Real Estate industry, the median Net-Net Working Capital is 4.82 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Greenland Hong Kong Holdings's current Net-Net Working Capital is €-2.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Greenland Hong Kong Holdings stock overvalued right now?
Based on GuruFocus' analysis, Greenland Hong Kong Holdings (FRA:QFRA) 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 €-2.94. Greenland Hong Kong Holdings' overall GF Score™ is 36/100 with 5 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 Greenland Hong Kong Holdings (FRA:QFRA), the current Net-Net Working Capital is €-2.94 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.
Is Greenland Hong Kong Holdings (FRA:QFRA) Overvalued in 2026?
Based on GuruFocus' analysis, Greenland Hong Kong Holdings stock appears to be undervalued.
The current stock price of €0.01 is trading 40% below its estimated GF Value™ of €0.01.
GuruFocus considers Greenland Hong Kong Holdings to be Possible Value Trap.
Key valuation signals for FRA:QFRA:
Net-Net Working Capital: €-2.94
GF Value™: €0.01 vs. price of €0.01 (40% below fair value)
No single metric tells the full story. See the FRA:QFRA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Greenland Hong Kong Holdings Ltd is an investment holding company. The principal activities of its subsidiaries are the development, sale, and rental of properties and related services and the operation of hotels in the People's Republic of China. The Group has four reportable segments: Sales of properties, Lease of properties, Hotel and related services, and Property management and other services. The majority is from the Sales of properties segment, which includes the development and sales of residential properties. Geographically, the Group mainly operates in the PRC.
36GF Score
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