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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.
abrdn Healthcare Investors's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $-0.05.
The industry rank for abrdn Healthcare Investors's Net-Net Working Capital or its related term are showing as below:
HQH's Price-to-Net-Net-Working-Capital is not ranked *
in the Asset Management industry.
Industry Median: 6.725 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
abrdn Healthcare Investors (NYSE:HQH) 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.
abrdn Healthcare Investors Net-Net Working Capital Related Terms
abrdn Healthcare Investors 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.
abrdn Healthcare Investors Net-Net Working Capital Chart
HQH vs MSDL, HYT, JFR: Net-Net Working Capital Comparison
For the Asset Management subindustry, abrdn Healthcare Investors'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.
abrdn Healthcare Investors Price-to-Net-Net-Working-Capital vs Asset Management Industry
For the Asset Management industry and Financial Services sector, abrdn Healthcare Investors's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where abrdn Healthcare Investors'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 $-0.05 mean?
abrdn Healthcare Investors (HQH) has a Net-Net Working Capital of $-0.05 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 abrdn Healthcare Investors According to the industry distribution chart, abrdn Healthcare Investors ranks #999999 out of 476 companies in the Asset Management industry.
Is abrdn Healthcare Investors' Net-Net Working Capital too high?
abrdn Healthcare Investors' current Net-Net Working Capital is $-0.05. Based on the distribution chart, abrdn Healthcare Investors ranks #999999 out of 476 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, abrdn Healthcare Investors has a GF Score™ of 49/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does abrdn Healthcare Investors' Net-Net Working Capital compare to MSDL and HYT?
According to the Asset Management industry distribution chart, abrdn Healthcare Investors ranks #999999 out of 476 companies for Net-Net Working Capital. This places abrdn Healthcare Investors 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 an Asset Management company?
The median Net-Net Working Capital among Asset Management companies is 6.73, based on 476 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 abrdn Healthcare Investors For the Asset Management 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. abrdn Healthcare Investors's current Net-Net Working Capital is $-0.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is abrdn Healthcare Investors stock overvalued right now?
Based on GuruFocus' analysis, abrdn Healthcare Investors (HQH) is currently considered Possible Value Trap. The stock's GF Value™ is $50.26, compared to a current price of $22.56 — trading 55.1% below its estimated fair value. The current Net-Net Working Capital is $-0.05. abrdn Healthcare Investors' overall GF Score™ is 49/100 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 abrdn Healthcare Investors (HQH), the current Net-Net Working Capital is $-0.05 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 abrdn Healthcare Investors (HQH) Overvalued in 2026?
Based on GuruFocus' analysis, abrdn Healthcare Investors stock appears to be undervalued.
The current stock price of $22.56 is trading 55.1% below its estimated GF Value™ of $50.26.
GuruFocus considers abrdn Healthcare Investors to be Possible Value Trap.
Key valuation signals for HQH:
Net-Net Working Capital: $-0.05
GF Value™: $50.26 vs. price of $22.56 (55.1% below fair value)
No single metric tells the full story. See the HQH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
abrdn Healthcare Investors Formerly Tekla Healthcare Investors is the United States based non-diversified closed-end management investment company. Its objective is to seek long-term capital appreciation by investing in securities of healthcare companies. In addition, the fund seeks to provide regular distribution of realized capital gains. The fund invests in the securities of public and private companies.
49GF Score
Get the complete analysis for HQH
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