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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.
The industry rank for Century Paper & Board Mills's Net-Net Working Capital or its related term are showing as below:
KAR:CEPB's Price-to-Net-Net-Working-Capital is not ranked *
in the Forest Products industry.
Industry Median: 4.34 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Century Paper & Board Mills (KAR:CEPB) 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.
Century Paper & Board Mills Net-Net Working Capital Related Terms
Century Paper & Board Mills 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.
Century Paper & Board Mills Net-Net Working Capital Chart
KAR:CEPB vs SLVM: Net-Net Working Capital Comparison
For the Paper & Paper Products subindustry, Century Paper & Board Mills'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.
Century Paper & Board Mills Price-to-Net-Net-Working-Capital vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Century Paper & Board Mills's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Century Paper & Board Mills'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 ₨-22.03 mean?
Century Paper & Board Mills (KAR:CEPB) has a Net-Net Working Capital of ₨-22.03 as of Mar. 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 Century Paper & Board Mills According to the industry distribution chart, Century Paper & Board Mills ranks #999999 out of 72 companies in the Forest Products industry.
Is Century Paper & Board Mills' Net-Net Working Capital too high?
Century Paper & Board Mills' current Net-Net Working Capital is ₨-22.03. Based on the distribution chart, Century Paper & Board Mills ranks #999999 out of 72 companies in the Forest Products industry, which is in the bottom quartile relative to peers. Overall, Century Paper & Board Mills has a GF Score™ of 61/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Century Paper & Board Mills' Net-Net Working Capital compare to SLVM?
According to the Forest Products industry distribution chart, Century Paper & Board Mills ranks #999999 out of 72 companies for Net-Net Working Capital. This places Century Paper & Board Mills in the lower half of its industry. The industry median Net-Net Working Capital is 4.34. 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 4.34, 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. 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 Century Paper & Board Mills For the Forest Products industry, the median Net-Net Working Capital is 4.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Century Paper & Board Mills's current Net-Net Working Capital is ₨-22.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Century Paper & Board Mills stock overvalued right now?
Based on GuruFocus' analysis, Century Paper & Board Mills (KAR:CEPB) is currently considered Fairly Valued. The stock's GF Value™ is ₨26.82, compared to a current price of ₨28.73 — trading 7.1% above its estimated fair value. The current Net-Net Working Capital is ₨-22.03. Century Paper & Board Mills' overall GF Score™ is 61/100 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 Century Paper & Board Mills (KAR:CEPB), the current Net-Net Working Capital is ₨-22.03 as of Mar. 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 Century Paper & Board Mills (KAR:CEPB) Overvalued in 2026?
Based on GuruFocus' analysis, Century Paper & Board Mills stock appears to be overvalued.
The current stock price of ₨28.73 is trading 7.1% above its estimated GF Value™ of ₨26.82.
GuruFocus considers Century Paper & Board Mills to be Fairly Valued.
Key valuation signals for KAR:CEPB:
Net-Net Working Capital: ₨-22.03
GF Value™: ₨26.82 vs. price of ₨28.73 (7.1% above fair value)
No single metric tells the full story. See the KAR:CEPB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Century Paper & Board Mills Ltd is a Pakistan-based company engaged in the manufacturing and marketing of paper, board, and related products. Its product portfolio consists of Coated Brand, Uncoated Brand, MF Paper, MG Paper, Corrugated Boxes, and others.
61GF 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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