Marley Spoon Group SEFSESF 12 Net-Net Working Capital is $-9.13 as of Dec. 2025. GuruFocus rates FSESF with a GF Score™ of 12/100. The stock has 3 warning signs investors should review. Among 662 Consumer Packaged Goods companies, Marley Spoon Group SE ranks worse than 151057.25% 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.
Marley Spoon Group SE's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $-9.13.
The industry rank for Marley Spoon Group SE's Net-Net Working Capital or its related term are showing as below:
FSESF's Price-to-Net-Net-Working-Capital is not ranked *
in the Consumer Packaged Goods industry.
Industry Median: 6.395 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Marley Spoon Group SE (OTCPK:FSESF) 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.
Marley Spoon Group SE Net-Net Working Capital Related Terms
Marley Spoon Group SE Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Marley Spoon Group SE'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.
Marley Spoon Group SE Net-Net Working Capital Chart
FSESF vs KHC, GIS, JBS: Net-Net Working Capital Comparison
For the Packaged Foods subindustry, Marley Spoon Group SE'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.
Marley Spoon Group SE Price-to-Net-Net-Working-Capital vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Marley Spoon Group SE's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Marley Spoon Group SE'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 $-9.13 mean?
Marley Spoon Group SE (FSESF) has a Net-Net Working Capital of $-9.13 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 Marley Spoon Group SE According to the industry distribution chart, Marley Spoon Group SE ranks #999999 out of 662 companies in the Consumer Packaged Goods industry.
Is Marley Spoon Group SE's Net-Net Working Capital too high?
Marley Spoon Group SE's current Net-Net Working Capital is $-9.13. Based on the distribution chart, Marley Spoon Group SE ranks #999999 out of 662 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Marley Spoon Group SE has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Marley Spoon Group SE's Net-Net Working Capital compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Marley Spoon Group SE ranks #999999 out of 662 companies for Net-Net Working Capital. This places Marley Spoon Group SE in the lower half of its industry. The industry median Net-Net Working Capital is 6.40. 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 6.40, based on 662 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 Marley Spoon Group SE For the Consumer Packaged Goods industry, the median Net-Net Working Capital is 6.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Marley Spoon Group SE's current Net-Net Working Capital is $-9.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Marley Spoon Group SE stock overvalued right now?
Marley Spoon Group SE (FSESF) has a current Net-Net Working Capital of $-9.13. The current Net-Net Working Capital is $-9.13. Marley Spoon Group SE's overall GF Score™ is 12/100 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 Marley Spoon Group SE (FSESF), the current Net-Net Working Capital is $-9.13 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.
Marley Spoon Group SE Formerly 468 SPAC II SE, is a direct-to-consumer (DTC) food-tech company. It provides subscription-based meal kits and ready-to-heat meals directly to customers' doorsteps in Australia, the United States, and Europe, saving them the hassle of grocery shopping and reducing food waste. The company provides Meal kits and ready to heat packages which includes fresh, pre-portioned ingredients alongside chef-designed recipes for home cooking.
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