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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.
Grand Parade Investments's Net-Net Working Capital for the quarter that ended in Dec. 2025 was R0.27.
The industry rank for Grand Parade Investments's Net-Net Working Capital or its related term are showing as below:
JSE:GPL's Price-to-Net-Net-Working-Capital is ranked better than 68.09% of 47
companies
in the Restaurants industry
Industry Median: 15.11
vs JSE:GPL: 7.04
Grand Parade Investments (JSE:GPL) 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.
Grand Parade Investments Net-Net Working Capital Related Terms
Grand Parade Investments Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Grand Parade Investments'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.
Grand Parade Investments Net-Net Working Capital Chart
JSE:GPL vs MCD, SBUX, YUM: Net-Net Working Capital Comparison
For the Restaurants subindustry, Grand Parade Investments'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.
Grand Parade Investments Price-to-Net-Net-Working-Capital vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Grand Parade Investments's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Grand Parade Investments'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 R0.27 mean?
Grand Parade Investments (JSE:GPL) has a Net-Net Working Capital of R0.27 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 Grand Parade Investments According to the industry distribution chart, Grand Parade Investments ranks #15 out of 47 companies in the Restaurants industry, placing it in the top 31.9%.
Is Grand Parade Investments' Net-Net Working Capital too high?
Grand Parade Investments' current Net-Net Working Capital is R0.27. Based on the distribution chart, Grand Parade Investments ranks #15 out of 47 companies in the Restaurants industry, which is above the industry midpoint. Overall, Grand Parade Investments has a GF Score™ of 34/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Grand Parade Investments' Net-Net Working Capital compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Grand Parade Investments ranks #15 out of 47 companies for Net-Net Working Capital. This puts Grand Parade Investments in the upper half of its industry. The industry median Net-Net Working Capital is 15.11. 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 Restaurants company?
The median Net-Net Working Capital among Restaurants companies is 15.11, based on 47 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 Grand Parade Investments For the Restaurants industry, the median Net-Net Working Capital is 15.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Grand Parade Investments's current Net-Net Working Capital is R0.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Grand Parade Investments stock overvalued right now?
Based on GuruFocus' analysis, Grand Parade Investments (JSE:GPL) is currently considered Significantly Overvalued. The stock's GF Value™ is R0.79, compared to a current price of R1.90 — trading 140.5% above its estimated fair value. The current Net-Net Working Capital is R0.27. Grand Parade Investments' overall GF Score™ is 34/100 with 6 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 Grand Parade Investments (JSE:GPL), the current Net-Net Working Capital is R0.27 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 Grand Parade Investments (JSE:GPL) Overvalued in 2026?
Based on GuruFocus' analysis, Grand Parade Investments stock appears to be overvalued.
The current stock price of R1.90 is trading 140.5% above its estimated GF Value™ of R0.79.
GuruFocus considers Grand Parade Investments to be Significantly Overvalued.
Key valuation signals for JSE:GPL:
Net-Net Working Capital: R0.27
GF Value™: R0.79 vs. price of R1.90 (140.5% above fair value)
No single metric tells the full story. See the JSE:GPL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Grand Parade Investments Ltd is an empowerment company. The company's operating segments include Food, gaming, and leisure. It generates maximum revenue from the Gaming and Leisure segment. The gaming and leisure segment includes SunWest, Sun Slots, Worcester Casino, and Infinity Gaming Africa.
34GF 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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