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Power Assets HoldingsHGKGF 78 Net-Net Working Capital is $-0.31 as of Dec. 2025. GuruFocus rates HGKGF with a GF Score™ of 78/100 and a GF Value™ of $3.44. The stock has 8 warning signs investors should review. Among 62 Utilities - Independent Power Producers companies, Power Assets Holdings ranks worse than 1612901.61% 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.
Power Assets Holdings's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $-0.31.
The industry rank for Power Assets Holdings's Net-Net Working Capital or its related term are showing as below:
Power Assets Holdings (OTCPK:HGKGF) 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.
Power Assets Holdings Net-Net Working Capital Related Terms
Power Assets Holdings Net-Net Working Capital Historical Data
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The historical data trend for Power Assets Holdings'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.
Power Assets Holdings Net-Net Working Capital Chart
HGKGF vs CEG, VST, NRG: Net-Net Working Capital Comparison
For the Utilities - Independent Power Producers subindustry, Power Assets 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.
Power Assets Holdings Price-to-Net-Net-Working-Capital vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Power Assets Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Power Assets 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 $-0.31 mean?
Power Assets Holdings (HGKGF) has a Net-Net Working Capital of $-0.31 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 Power Assets Holdings According to the industry distribution chart, Power Assets Holdings ranks #999999 out of 62 companies in the Utilities - Independent Power Producers industry.
Is Power Assets Holdings' Net-Net Working Capital too high?
Power Assets Holdings' current Net-Net Working Capital is $-0.31. Based on the distribution chart, Power Assets Holdings ranks #999999 out of 62 companies in the Utilities - Independent Power Producers industry, which is in the bottom quartile relative to peers. Overall, Power Assets Holdings has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.
How does Power Assets Holdings' Net-Net Working Capital compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, Power Assets Holdings ranks #999999 out of 62 companies for Net-Net Working Capital. This places Power Assets Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 6.37. 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 an Utilities - Independent Power Producers company?
The median Net-Net Working Capital among Utilities - Independent Power Producers companies is 6.37, based on 62 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 Power Assets Holdings For the Utilities - Independent Power Producers industry, the median Net-Net Working Capital is 6.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Power Assets Holdings's current Net-Net Working Capital is $-0.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Power Assets Holdings stock overvalued right now?
Power Assets Holdings (HGKGF) has a current Net-Net Working Capital of $-0.31. The stock's GF Value™ is $3.44, compared to a current price of $8.57 — trading 149.1% above its estimated fair value. The current Net-Net Working Capital is $-0.31. Power Assets Holdings' overall GF Score™ is 78/100 with 8 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 Power Assets Holdings (HGKGF), the current Net-Net Working Capital is $-0.31 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 Power Assets Holdings (HGKGF) Overvalued in 2026?
Based on GuruFocus' analysis, Power Assets Holdings stock appears to be overvalued.
The current stock price of $8.57 is trading 149.1% above its estimated GF Value™ of $3.44.
Key valuation signals for HGKGF:
Net-Net Working Capital: $-0.31
GF Value™: $3.44 vs. price of $8.57 (149.1% above fair value)
No single metric tells the full story. See the HGKGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Power Assets Holdings is an investment holding company with a focus on regulated utility assets. The firm owns a portfolio of regulated electricity and gas assets and similarly stable utilities in Hong Kong, the UK, Australia, Canada, the Netherlands, Thailand, and New Zealand. Profit from its regulated assets contributes around 80% of total income, with earnings from its UK and Australian assets totaling around 65% of group profit. The firm is part of CK Hutchison Holdings, a Hong Kong-based multinational conglomerate, and is currently 36% owned by CKI Holdings.
78GF Score
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