Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Intchains GroupICG +0.77%55 Net-Net Working Capital is $1.05 as of Dec. 2025. GuruFocus rates ICG with a GF Score™ of 55/100 and a GF Value™ of $5.79 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 533 Semiconductors companies, Intchains Group ranks better than 99.06% 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.
Intchains Group's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $1.05.
The industry rank for Intchains Group's Net-Net Working Capital or its related term are showing as below:
ICG's Price-to-Net-Net-Working-Capital is ranked better than 99.06% of 533
companies
in the Semiconductors industry
Industry Median: 10.5
vs ICG: 0.78
Intchains Group (NAS:ICG) 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.
Intchains Group Net-Net Working Capital Related Terms
Intchains Group Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Intchains Group'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.
ICG vs NA, PXLW, SQNS: Net-Net Working Capital Comparison
For the Semiconductors subindustry, Intchains Group'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.
Intchains Group Price-to-Net-Net-Working-Capital vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Intchains Group's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Intchains Group'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 $1.05 mean?
Intchains Group (ICG) has a Net-Net Working Capital of $1.05 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 Intchains Group According to the industry distribution chart, Intchains Group ranks #5 out of 533 companies in the Semiconductors industry, placing it in the top 0.90000000000001%.
Is Intchains Group's Net-Net Working Capital too high?
Intchains Group's current Net-Net Working Capital is $1.05. The Semiconductors industry median Net-Net Working Capital is 10.50. Intchains Group's value of $1.05 is 90% below this industry median. Based on the distribution chart, Intchains Group ranks #5 out of 533 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Intchains Group has a GF Score™ of 55/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Intchains Group's Net-Net Working Capital compare to NA and PXLW?
According to the Semiconductors industry distribution chart, Intchains Group ranks #5 out of 533 companies for Net-Net Working Capital. This places Intchains Group in the top 1% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 10.50. Intchains Group's value of $1.05 is 90% below this benchmark. 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 Semiconductors company?
The median Net-Net Working Capital among Semiconductors companies is 10.50, based on 533 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. Intchains Group's current Net-Net Working Capital of $1.05 is 90% below the industry median. 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 Intchains Group For the Semiconductors industry, the median Net-Net Working Capital is 10.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Intchains Group's current Net-Net Working Capital is $1.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Intchains Group stock overvalued right now?
Based on GuruFocus' analysis, Intchains Group (ICG) is currently considered Possible Value Trap. The stock's GF Value™ is $5.79, compared to a current price of $0.82 — trading 85.9% below its estimated fair value. The current Net-Net Working Capital is $1.05 and 90% below the Semiconductors industry median of 10.50. Intchains Group's overall GF Score™ is 55/100 with 5 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 Intchains Group (ICG), the current Net-Net Working Capital is $1.05 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 Intchains Group (ICG) Overvalued in 2026?
Based on GuruFocus' analysis, Intchains Group stock appears to be undervalued.
The current stock price of $0.82 is trading 85.9% below its estimated GF Value™ of $5.79.
GuruFocus considers Intchains Group to be Possible Value Trap.
Key valuation signals for ICG:
Net-Net Working Capital: $1.05
GF Value™: $5.79 vs. price of $0.82 (85.9% below fair value)
Industry Position: 90% below the Semiconductors median (#5 of 533)
No single metric tells the full story. See the ICG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Intchains Group Ltd is an inventive altcoins development company that engages in the provision of altcoin mining products, the strategic acquisition and holding of Ethereum-based cryptocurrencies and the active development of inventive Web3 applications. The company offers high-performance mining products including altcoin mining machines incorporating its ASIC chips that have high computing power and superior power efficiency, ASIC chips and ancillary software and hardware, all of which cater to the evolving needs of the blockchain industry. Geographically, it operates in Mainland China, Hong Kong, and Other countries or regions.
55GF Score
Get the complete analysis for ICG
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ICG has been successfully added to your 
