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.
ITEXITEX 72 Net-Net Working Capital is $2.54 as of Jul. 2025. GuruFocus rates ITEX with a GF Score™ of 72/100 and a GF Value™ of $3.76 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 278 Capital Markets companies, ITEX ranks better than 84.89% 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.
ITEX's Net-Net Working Capital for the quarter that ended in Jul. 2025 was $2.54.
The industry rank for ITEX's Net-Net Working Capital or its related term are showing as below:
ITEX's Price-to-Net-Net-Working-Capital is ranked better than 84.89% of 278
companies
in the Capital Markets industry
Industry Median: 4.55
vs ITEX: 1.28
ITEX (OTCPK:ITEX) 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.
ITEX Net-Net Working Capital Related Terms
ITEX Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for ITEX'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.
ITEX vs MEGL, WAI, ABTS: Net-Net Working Capital Comparison
For the Capital Markets subindustry, ITEX'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.
ITEX Price-to-Net-Net-Working-Capital vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, ITEX's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where ITEX'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 $2.54 mean?
ITEX (ITEX) has a Net-Net Working Capital of $2.54 as of Jul. 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 ITEX According to the industry distribution chart, ITEX ranks #42 out of 278 companies in the Capital Markets industry, placing it in the top 15.1%.
Is ITEX's Net-Net Working Capital too high?
ITEX's current Net-Net Working Capital is $2.54. The Capital Markets industry median Net-Net Working Capital is 4.55. ITEX's value of $2.54 is 44.2% below this industry median. Based on the distribution chart, ITEX ranks #42 out of 278 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, ITEX has a GF Score™ of 72/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ITEX's Net-Net Working Capital compare to MEGL and WAI?
According to the Capital Markets industry distribution chart, ITEX ranks #42 out of 278 companies for Net-Net Working Capital. This places ITEX in the top 15% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 4.55. ITEX's value of $2.54 is 44.2% 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 Capital Markets company?
The median Net-Net Working Capital among Capital Markets companies is 4.55, based on 278 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. ITEX's current Net-Net Working Capital of $2.54 is 44.2% 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 ITEX For the Capital Markets industry, the median Net-Net Working Capital is 4.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ITEX's current Net-Net Working Capital is $2.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ITEX stock overvalued right now?
Based on GuruFocus' analysis, ITEX (ITEX) is currently considered Modestly Undervalued. The stock's GF Value™ is $3.76, compared to a current price of $3.25 — trading 13.6% below its estimated fair value. The current Net-Net Working Capital is $2.54 and 44.2% below the Capital Markets industry median of 4.55. ITEX's overall GF Score™ is 72/100 with 4 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 ITEX (ITEX), the current Net-Net Working Capital is $2.54 as of Jul. 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 ITEX (ITEX) Overvalued in 2026?
Based on GuruFocus' analysis, ITEX stock appears to be undervalued.
The current stock price of $3.25 is trading 13.6% below its estimated GF Value™ of $3.76.
GuruFocus considers ITEX to be Modestly Undervalued.
Key valuation signals for ITEX:
Net-Net Working Capital: $2.54
GF Value™: $3.76 vs. price of $3.25 (13.6% below fair value)
Industry Position: 44.2% below the Capital Markets median (#42 of 278)
No single metric tells the full story. See the ITEX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ITEX Corp operates a marketplace in which products and services are exchanged by marketplace members utilizing virtual currency. Its Marketplace provides a forum for members to purchase from and sell their products and services to other members using ITEX dollars instead of the United States dollars and Canadian dollars (USD or cash). It administers the marketplace and provides record-keeping and payment transaction processing services for its members. It generates revenue by charging members percentage-based transaction fees, association fees, and other fees assessed in United States dollars and Canadian dollars.
72GF Score
Get the complete analysis for ITEX
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
ITEX has been successfully added to your 
