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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.
JSE:CAT's Price-to-Net-Net-Working-Capital is ranked better than 82.08% of 385
companies
in the Media - Diversified industry
Industry Median: 4.44
vs JSE:CAT: 1.51
Caxton and CTP Publishers and Printers (JSE:CAT) 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.
Caxton and CTP Publishers and Printers Net-Net Working Capital Related Terms
Caxton and CTP Publishers and Printers 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.
Caxton and CTP Publishers and Printers Net-Net Working Capital Chart
Caxton and CTP Publishers and Printers Annual Data
JSE:CAT vs NYT, WLY: Net-Net Working Capital Comparison
For the Publishing subindustry, Caxton and CTP Publishers and Printers'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.
Caxton and CTP Publishers and Printers Price-to-Net-Net-Working-Capital vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Caxton and CTP Publishers and Printers's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Caxton and CTP Publishers and Printers'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 R8.04 mean?
Caxton and CTP Publishers and Printers (JSE:CAT) has a Net-Net Working Capital of R8.04 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 Caxton and CTP Publishers and Printers According to the industry distribution chart, Caxton and CTP Publishers and Printers ranks #69 out of 385 companies in the Media - Diversified industry, placing it in the top 17.9%.
Is Caxton and CTP Publishers and Printers' Net-Net Working Capital too high?
Caxton and CTP Publishers and Printers' current Net-Net Working Capital is R8.04. Based on the distribution chart, Caxton and CTP Publishers and Printers ranks #69 out of 385 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, Caxton and CTP Publishers and Printers has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Caxton and CTP Publishers and Printers' Net-Net Working Capital compare to NYT and WLY?
According to the Media - Diversified industry distribution chart, Caxton and CTP Publishers and Printers ranks #69 out of 385 companies for Net-Net Working Capital. This places Caxton and CTP Publishers and Printers in the top 18% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 4.44. 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 Media - Diversified company?
The median Net-Net Working Capital among Media - Diversified companies is 4.44, based on 385 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 Caxton and CTP Publishers and Printers For the Media - Diversified industry, the median Net-Net Working Capital is 4.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Caxton and CTP Publishers and Printers's current Net-Net Working Capital is R8.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Caxton and CTP Publishers and Printers stock overvalued right now?
Based on GuruFocus' analysis, Caxton and CTP Publishers and Printers (JSE:CAT) is currently considered Fairly Valued. The stock's GF Value™ is R12.46, compared to a current price of R12.15 — trading 2.5% below its estimated fair value. The current Net-Net Working Capital is R8.04. Caxton and CTP Publishers and Printers' overall GF Score™ is 88/100 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 Caxton and CTP Publishers and Printers (JSE:CAT), the current Net-Net Working Capital is R8.04 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 Caxton and CTP Publishers and Printers (JSE:CAT) Overvalued in 2026?
Based on GuruFocus' analysis, Caxton and CTP Publishers and Printers stock appears to be undervalued.
The current stock price of R12.15 is trading 2.5% below its estimated GF Value™ of R12.46.
GuruFocus considers Caxton and CTP Publishers and Printers to be Fairly Valued.
Key valuation signals for JSE:CAT:
Net-Net Working Capital: R8.04
GF Value™: R12.46 vs. price of R12.15 (2.5% below fair value)
No single metric tells the full story. See the JSE:CAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Caxton and CTP Publishers and Printers Ltd is involved in the publishing and printing of newspapers and magazines, as well as in the manufacturing and distribution of packaging, stationery, and labels. It operates through three reportable segments: Publishing, Printing and Distribution; Packaging and Stationery; and Other. The Publishing, Printing and Distribution segment derives revenue from newspaper publishing and printing, digital assets, web and gravure printing, and book and magazine printing. The Packaging and Stationery segment derives revenue from selling packaging and stationery products. The Other segment derives revenue from dividends, intergroup rent, and interest. The majority of revenue comes from Packaging and Stationery.
88GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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