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Groupe AirwellFRA:Z20 -2.51%67 Net-Net Working Capital is €-2.54 as of Dec. 2025. GuruFocus rates FRA:Z20 with a GF Score™ of 67/100 and a GF Value™ of €2.73 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 172 Furnishings, Fixtures & Appliances companies, Groupe Airwell ranks worse than 581394.77% 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.
Groupe Airwell's Net-Net Working Capital for the quarter that ended in Dec. 2025 was €-2.54.
The industry rank for Groupe Airwell's Net-Net Working Capital or its related term are showing as below:
FRA:Z20's Price-to-Net-Net-Working-Capital is not ranked *
in the Furnishings, Fixtures & Appliances industry.
Industry Median: 7.065 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Groupe Airwell (FRA:Z20) 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.
Groupe Airwell Net-Net Working Capital Related Terms
Groupe Airwell Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Groupe Airwell'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:Z20 vs SN, SGI, MHK: Net-Net Working Capital Comparison
For the Furnishings, Fixtures & Appliances subindustry, Groupe Airwell'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.
Groupe Airwell Price-to-Net-Net-Working-Capital vs Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Groupe Airwell's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Groupe Airwell'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 €-2.54 mean?
Groupe Airwell (FRA:Z20) has a Net-Net Working Capital of €-2.54 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 Groupe Airwell According to the industry distribution chart, Groupe Airwell ranks #999999 out of 172 companies in the Furnishings, Fixtures & Appliances industry.
Is Groupe Airwell's Net-Net Working Capital too high?
Groupe Airwell's current Net-Net Working Capital is €-2.54. Based on the distribution chart, Groupe Airwell ranks #999999 out of 172 companies in the Furnishings, Fixtures & Appliances industry, which is in the bottom quartile relative to peers. Overall, Groupe Airwell has a GF Score™ of 67/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Groupe Airwell's Net-Net Working Capital compare to SN and SGI?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Groupe Airwell ranks #999999 out of 172 companies for Net-Net Working Capital. This places Groupe Airwell in the lower half of its industry. The industry median Net-Net Working Capital is 7.07. 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 Furnishings, Fixtures & Appliances company?
The median Net-Net Working Capital among Furnishings, Fixtures & Appliances companies is 7.07, based on 172 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 Groupe Airwell For the Furnishings, Fixtures & Appliances industry, the median Net-Net Working Capital is 7.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Groupe Airwell's current Net-Net Working Capital is €-2.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Groupe Airwell stock overvalued right now?
Based on GuruFocus' analysis, Groupe Airwell (FRA:Z20) is currently considered Possible Value Trap. The stock's GF Value™ is €2.73, compared to a current price of €1.17 — trading 57.3% below its estimated fair value. The current Net-Net Working Capital is €-2.54. Groupe Airwell's overall GF Score™ is 67/100 with 6 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 Groupe Airwell (FRA:Z20), the current Net-Net Working Capital is €-2.54 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 Groupe Airwell (FRA:Z20) Overvalued in 2026?
Based on GuruFocus' analysis, Groupe Airwell stock appears to be undervalued.
The current stock price of €1.17 is trading 57.3% below its estimated GF Value™ of €2.73.
GuruFocus considers Groupe Airwell to be Possible Value Trap.
Key valuation signals for FRA:Z20:
Net-Net Working Capital: €-2.54
GF Value™: €2.73 vs. price of €1.17 (57.3% below fair value)
No single metric tells the full story. See the FRA:Z20 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Groupe Airwell is a French air-conditioning brand. It specializes in the distribution of air-conditioning, heating, and ventilation equipment and systems for the residential and tertiary markets. The group offers small, medium, and large power products to ensure the thermal comfort of homes, office spaces, shopping malls, public buildings, etc. The products are marketed to wholesalers/distributors and installers. Geographically, the company generates a majority of its revenue from France.
67GF Score
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