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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.
Columbia Financial's Net-Net Working Capital for the quarter that ended in Mar. 2026 was €-72.08.
The industry rank for Columbia Financial's Net-Net Working Capital or its related term are showing as below:
FRA:Z2T's Price-to-Net-Net-Working-Capital is not ranked *
in the Banks industry.
Industry Median: 1.81 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Columbia Financial (FRA:Z2T) 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.
Columbia Financial Net-Net Working Capital Related Terms
Columbia Financial Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Columbia Financial'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:Z2T vs MCB, AMTB, NBN: Net-Net Working Capital Comparison
For the Banks - Regional subindustry, Columbia Financial'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.
Columbia Financial Price-to-Net-Net-Working-Capital vs Banks Industry
For the Banks industry and Financial Services sector, Columbia Financial's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Columbia Financial'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 €-72.08 mean?
Columbia Financial (FRA:Z2T) has a Net-Net Working Capital of €-72.08 as of Mar. 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 Columbia Financial According to the industry distribution chart, Columbia Financial ranks #999999 out of 8 companies in the Banks industry.
Is Columbia Financial's Net-Net Working Capital too high?
Columbia Financial's current Net-Net Working Capital is €-72.08. Based on the distribution chart, Columbia Financial ranks #999999 out of 8 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Columbia Financial has a GF Score™ of 18/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Columbia Financial's Net-Net Working Capital compare to MCB and AMTB?
According to the Banks industry distribution chart, Columbia Financial ranks #999999 out of 8 companies for Net-Net Working Capital. This places Columbia Financial in the lower half of its industry. The industry median Net-Net Working Capital is 1.81. 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 Banks company?
The median Net-Net Working Capital among Banks companies is 1.81, based on 8 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 Columbia Financial For the Banks industry, the median Net-Net Working Capital is 1.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Columbia Financial's current Net-Net Working Capital is €-72.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Columbia Financial stock overvalued right now?
Based on GuruFocus' analysis, Columbia Financial (FRA:Z2T) is currently considered Significantly Undervalued. The stock's GF Value™ is €16.01, compared to a current price of €8.94 — trading 44.2% below its estimated fair value. The current Net-Net Working Capital is €-72.08. Columbia Financial's overall GF Score™ is 18/100 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 Columbia Financial (FRA:Z2T), the current Net-Net Working Capital is €-72.08 as of Mar. 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 Columbia Financial (FRA:Z2T) Overvalued in 2026?
Based on GuruFocus' analysis, Columbia Financial stock appears to be undervalued.
The current stock price of €8.94 is trading 44.2% below its estimated GF Value™ of €16.01.
GuruFocus considers Columbia Financial to be Significantly Undervalued.
Key valuation signals for FRA:Z2T:
Net-Net Working Capital: €-72.08
GF Value™: €16.01 vs. price of €8.94 (44.2% below fair value)
No single metric tells the full story. See the FRA:Z2T stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Columbia Financial Inc is a federally chartered savings bank that serves the financial needs of depositors and the local community as a customer service-focused institution. The company offers traditional financial services to businesses and consumers in its market areas. It attracts deposits from the general public and uses those funds to originate various loans, including multifamily and commercial real estate loans, commercial business loans, one-to-four family real estate loans, construction loans, home equity loans and advances, and other consumer loans. The company also offers title insurance through its wholly owned subsidiary and provides a broad range of insurance products, including personal and business lines of insurance, mainly to customers and New Jersey residents.
18GF 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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