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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.
Jewett-Cameron Trading Co's Net-Net Working Capital for the quarter that ended in May. 2026 was $1.23.
The industry rank for Jewett-Cameron Trading Co's Net-Net Working Capital or its related term are showing as below:
JCTC's Price-to-Net-Net-Working-Capital is ranked better than 68.06% of 72
companies
in the Forest Products industry
Industry Median: 4.12
vs JCTC: 2.27
Jewett-Cameron Trading Co (NAS:JCTC) 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.
Jewett-Cameron Trading Co Net-Net Working Capital Related Terms
Jewett-Cameron Trading Co Net-Net Working Capital Historical Data
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The historical data trend for Jewett-Cameron Trading Co'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.
Jewett-Cameron Trading Co Net-Net Working Capital Chart
JCTC vs ITP, MERC, SSD: Net-Net Working Capital Comparison
For the Lumber & Wood Production subindustry, Jewett-Cameron Trading Co'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.
Jewett-Cameron Trading Co Price-to-Net-Net-Working-Capital vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Jewett-Cameron Trading Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Jewett-Cameron Trading Co'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 $1.23 mean?
Jewett-Cameron Trading Co (JCTC) has a Net-Net Working Capital of $1.23 as of May. 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 Jewett-Cameron Trading Co According to the industry distribution chart, Jewett-Cameron Trading Co ranks #23 out of 72 companies in the Forest Products industry, placing it in the top 31.9%.
Is Jewett-Cameron Trading Co's Net-Net Working Capital too high?
Jewett-Cameron Trading Co's current Net-Net Working Capital is $1.23. The Forest Products industry median Net-Net Working Capital is 4.12. Jewett-Cameron Trading Co's value of $1.23 is 70.1% below this industry median. Based on the distribution chart, Jewett-Cameron Trading Co ranks #23 out of 72 companies in the Forest Products industry, which is above the industry midpoint. Overall, Jewett-Cameron Trading Co has a GF Score™ of 68/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Jewett-Cameron Trading Co's Net-Net Working Capital compare to ITP and MERC?
According to the Forest Products industry distribution chart, Jewett-Cameron Trading Co ranks #23 out of 72 companies for Net-Net Working Capital. This puts Jewett-Cameron Trading Co in the upper half of its industry. The industry median Net-Net Working Capital is 4.12. Jewett-Cameron Trading Co's value of $1.23 is 70.1% 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 Forest Products company?
The median Net-Net Working Capital among Forest Products companies is 4.12, based on 72 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. Jewett-Cameron Trading Co's current Net-Net Working Capital of $1.23 is 70.1% 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 Jewett-Cameron Trading Co For the Forest Products industry, the median Net-Net Working Capital is 4.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Jewett-Cameron Trading Co's current Net-Net Working Capital is $1.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jewett-Cameron Trading Co stock overvalued right now?
Based on GuruFocus' analysis, Jewett-Cameron Trading Co (JCTC) is currently considered Modestly Undervalued. The stock's GF Value™ is $3.29, compared to a current price of $2.79 — trading 15.2% below its estimated fair value. The current Net-Net Working Capital is $1.23 and 70.1% below the Forest Products industry median of 4.12. Jewett-Cameron Trading Co's overall GF Score™ is 68/100 with 3 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 Jewett-Cameron Trading Co (JCTC), the current Net-Net Working Capital is $1.23 as of May. 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 Jewett-Cameron Trading Co (JCTC) Overvalued in 2026?
Based on GuruFocus' analysis, Jewett-Cameron Trading Co stock appears to be undervalued.
The current stock price of $2.79 is trading 15.2% below its estimated GF Value™ of $3.29.
GuruFocus considers Jewett-Cameron Trading Co to be Modestly Undervalued.
Key valuation signals for JCTC:
Net-Net Working Capital: $1.23
GF Value™: $3.29 vs. price of $2.79 (15.2% below fair value)
Industry Position: 70.1% below the Forest Products median (#23 of 72)
No single metric tells the full story. See the JCTC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Jewett-Cameron Trading Co Ltd through its subsidiaries engages in the wholesale distribution of a variety of specialty wood products. Its operating segments include, The Industrial wood products segment is engaged in the processing and distribution of industrial wood products. The Pet Fencing and Other segment, which is the key revenue driver, operates as a wholesaler of wood products and a manufacturer and distributor of specialty metal products. The Seed processing and sales segment processes and distributes agricultural seed and Corporate and administrative. The company predominantly operates in the United States and also has a presence in Canada, Latin America, Europe and Asia Pacific, and other regions.
68GF Score
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