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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.
Garanti Faktoring AS's Net-Net Working Capital for the quarter that ended in Jun. 2026 was ₺-97.52.
The industry rank for Garanti Faktoring AS's Net-Net Working Capital or its related term are showing as below:
IST:GARFA's Price-to-Net-Net-Working-Capital is not ranked *
in the Credit Services industry.
Industry Median: 6.215 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Garanti Faktoring AS (IST:GARFA) 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.
Garanti Faktoring AS Net-Net Working Capital Related Terms
Garanti Faktoring AS Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Garanti Faktoring AS'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.
Garanti Faktoring AS Net-Net Working Capital Chart
IST:GARFA vs V, MA, AXP: Net-Net Working Capital Comparison
For the Credit Services subindustry, Garanti Faktoring AS'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.
Garanti Faktoring AS Price-to-Net-Net-Working-Capital vs Credit Services Industry
For the Credit Services industry and Financial Services sector, Garanti Faktoring AS's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Garanti Faktoring AS'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 ₺-97.52 mean?
Garanti Faktoring AS (IST:GARFA) has a Net-Net Working Capital of ₺-97.52 as of Jun. 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 Garanti Faktoring AS According to the industry distribution chart, Garanti Faktoring AS ranks #999999 out of 80 companies in the Credit Services industry.
Is Garanti Faktoring AS's Net-Net Working Capital too high?
Garanti Faktoring AS's current Net-Net Working Capital is ₺-97.52. Based on the distribution chart, Garanti Faktoring AS ranks #999999 out of 80 companies in the Credit Services industry, which is in the bottom quartile relative to peers. Overall, Garanti Faktoring AS has a GF Score™ of 25/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Garanti Faktoring AS's Net-Net Working Capital compare to V and MA?
According to the Credit Services industry distribution chart, Garanti Faktoring AS ranks #999999 out of 80 companies for Net-Net Working Capital. This places Garanti Faktoring AS in the lower half of its industry. The industry median Net-Net Working Capital is 6.22. 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 Credit Services company?
The median Net-Net Working Capital among Credit Services companies is 6.22, based on 80 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 Garanti Faktoring AS For the Credit Services industry, the median Net-Net Working Capital is 6.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Garanti Faktoring AS's current Net-Net Working Capital is ₺-97.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Garanti Faktoring AS stock overvalued right now?
Based on GuruFocus' analysis, Garanti Faktoring AS (IST:GARFA) is currently considered Significantly Undervalued. The stock's GF Value™ is ₺43.93, compared to a current price of ₺27.08 — trading 38.4% below its estimated fair value. The current Net-Net Working Capital is ₺-97.52. Garanti Faktoring AS's overall GF Score™ is 25/100 with 1 warning sign 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 Garanti Faktoring AS (IST:GARFA), the current Net-Net Working Capital is ₺-97.52 as of Jun. 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 Garanti Faktoring AS (IST:GARFA) Overvalued in 2026?
Based on GuruFocus' analysis, Garanti Faktoring AS stock appears to be undervalued.
The current stock price of ₺27.08 is trading 38.4% below its estimated GF Value™ of ₺43.93.
GuruFocus considers Garanti Faktoring AS to be Significantly Undervalued.
Key valuation signals for IST:GARFA:
Net-Net Working Capital: ₺-97.52
GF Value™: ₺43.93 vs. price of ₺27.08 (38.4% below fair value)
No single metric tells the full story. See the IST:GARFA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Garanti Faktoring AS is a Turkish company which offers factoring services where time receivables of companies arising out of their domestic and overseas service sales are taken over by Garanti to offer one or more of financing, guarantee and collection services. The company focuses on trade financing and receivable-based financing and provides financing, guarantee and collection products. It offers financing service to customers whose goods/services sales are realized on the account and as check account sales and delivers regular cash flow. The company also affords supplier financing to supplier companies the benefit of payment of their receivables without waiting for maturity, and to buyer companies the benefit of payment due date extension.
25GF Score
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