Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
FRA:SMB's Price-to-Net-Net-Working-Capital is ranked worse than 99.85% of 660
companies
in the Consumer Packaged Goods industry
Industry Median: 6.73
vs FRA:SMB: 2370.00
Schwalbchen Molkerei Jakob Berz AG (FRA:SMB) 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.
Schwalbchen Molkerei Jakob Berz AG Net-Net Working Capital Related Terms
Schwalbchen Molkerei Jakob Berz AG 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.
Schwalbchen Molkerei Jakob Berz AG Net-Net Working Capital Chart
FRA:SMB vs KHC, GIS, HRL: Net-Net Working Capital Comparison
For the Packaged Foods subindustry, Schwalbchen Molkerei Jakob Berz AG'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.
Schwalbchen Molkerei Jakob Berz AG Price-to-Net-Net-Working-Capital vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Schwalbchen Molkerei Jakob Berz AG's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Schwalbchen Molkerei Jakob Berz AG'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 €0.02 mean?
Schwalbchen Molkerei Jakob Berz AG (FRA:SMB) has a Net-Net Working Capital of €0.02 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 Schwalbchen Molkerei Jakob Berz AG According to the industry distribution chart, Schwalbchen Molkerei Jakob Berz AG ranks #659 out of 660 companies in the Consumer Packaged Goods industry, placing it in the top 99.8%.
Is Schwalbchen Molkerei Jakob Berz AG's Net-Net Working Capital too high?
Schwalbchen Molkerei Jakob Berz AG's current Net-Net Working Capital is €0.02. Based on the distribution chart, Schwalbchen Molkerei Jakob Berz AG ranks #659 out of 660 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Schwalbchen Molkerei Jakob Berz AG has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Schwalbchen Molkerei Jakob Berz AG's Net-Net Working Capital compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Schwalbchen Molkerei Jakob Berz AG ranks #659 out of 660 companies for Net-Net Working Capital. This places Schwalbchen Molkerei Jakob Berz AG in the lower half of its industry. The industry median Net-Net Working Capital is 6.73. 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 Consumer Packaged Goods company?
The median Net-Net Working Capital among Consumer Packaged Goods companies is 6.73, based on 660 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 Schwalbchen Molkerei Jakob Berz AG For the Consumer Packaged Goods industry, the median Net-Net Working Capital is 6.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Schwalbchen Molkerei Jakob Berz AG's current Net-Net Working Capital is €0.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Schwalbchen Molkerei Jakob Berz AG stock overvalued right now?
Based on GuruFocus' analysis, Schwalbchen Molkerei Jakob Berz AG (FRA:SMB) is currently considered Modestly Overvalued. The stock's GF Value™ is €42.68, compared to a current price of €47.40 — trading 11.1% above its estimated fair value. The current Net-Net Working Capital is €0.02. Schwalbchen Molkerei Jakob Berz AG's overall GF Score™ is 76/100 with 2 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 Schwalbchen Molkerei Jakob Berz AG (FRA:SMB), the current Net-Net Working Capital is €0.02 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 Schwalbchen Molkerei Jakob Berz AG (FRA:SMB) Overvalued in 2026?
Based on GuruFocus' analysis, Schwalbchen Molkerei Jakob Berz AG stock appears to be overvalued.
The current stock price of €47.40 is trading 11.1% above its estimated GF Value™ of €42.68.
GuruFocus considers Schwalbchen Molkerei Jakob Berz AG to be Modestly Overvalued.
Key valuation signals for FRA:SMB:
Net-Net Working Capital: €0.02
GF Value™: €42.68 vs. price of €47.40 (11.1% above fair value)
No single metric tells the full story. See the FRA:SMB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Schwalbchen Molkerei Jakob Berz AG is engaged in processing and distribution of milk and milk products, the wholesale of dairy products and related foodstuffs. The company acts as a regional brand supplier of fresh and long-life milk, as well as fresh produce such as yogurt, whipped cream, sour cream, natural and fruit quark, cream, and sponge cake under the name SCHWALBCHEN. Specialties such as the coffee beverage Caffreddo and ethnic items such as Ayran are marketed nationwide. The company is engaged in the wholesale consumer trade segment.
76GF Score
Get the complete analysis for FRA:SMB
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:SMB has been successfully added to your 
