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.
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 Combined Group Contracting K C's Net-Net Working Capital or its related term are showing as below:
KUW:CGC's Price-to-Net-Net-Working-Capital is not ranked *
in the Construction industry.
Industry Median: 6.54 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Combined Group Contracting K C (KUW:CGC) 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.
Combined Group Contracting K C Net-Net Working Capital Related Terms
Combined Group Contracting K C 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.
Combined Group Contracting K C Net-Net Working Capital Chart
KUW:CGC vs PWR, FIX, EME: Net-Net Working Capital Comparison
For the Engineering & Construction subindustry, Combined Group Contracting K C'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.
Combined Group Contracting K C Price-to-Net-Net-Working-Capital vs Construction Industry
For the Construction industry and Industrials sector, Combined Group Contracting K C's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Combined Group Contracting K C'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 KWD-0.88 mean?
Combined Group Contracting K C (KUW:CGC) has a Net-Net Working Capital of KWD-0.88 as of Jun. 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 Combined Group Contracting K C According to the industry distribution chart, Combined Group Contracting K C ranks #999999 out of 475 companies in the Construction industry.
Is Combined Group Contracting K C's Net-Net Working Capital too high?
Combined Group Contracting K C's current Net-Net Working Capital is KWD-0.88. Based on the distribution chart, Combined Group Contracting K C ranks #999999 out of 475 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Combined Group Contracting K C has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Combined Group Contracting K C's Net-Net Working Capital compare to PWR and FIX?
According to the Construction industry distribution chart, Combined Group Contracting K C ranks #999999 out of 475 companies for Net-Net Working Capital. This places Combined Group Contracting K C in the lower half of its industry. The industry median Net-Net Working Capital is 6.54. 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 Construction company?
The median Net-Net Working Capital among Construction companies is 6.54, based on 475 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 Combined Group Contracting K C For the Construction industry, the median Net-Net Working Capital is 6.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Combined Group Contracting K C's current Net-Net Working Capital is KWD-0.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Combined Group Contracting K C stock overvalued right now?
Based on GuruFocus' analysis, Combined Group Contracting K C (KUW:CGC) is currently considered Modestly Undervalued. The stock's GF Value™ is KWD1.11, compared to a current price of KWD0.86 — trading 22.6% below its estimated fair value. The current Net-Net Working Capital is KWD-0.88. Combined Group Contracting K C's overall GF Score™ is 77/100 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 Combined Group Contracting K C (KUW:CGC), the current Net-Net Working Capital is KWD-0.88 as of Jun. 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 Combined Group Contracting K C (KUW:CGC) Overvalued in 2026?
Based on GuruFocus' analysis, Combined Group Contracting K C stock appears to be undervalued.
The current stock price of KWD0.86 is trading 22.6% below its estimated GF Value™ of KWD1.11.
GuruFocus considers Combined Group Contracting K C to be Modestly Undervalued.
Key valuation signals for KUW:CGC:
Net-Net Working Capital: KWD-0.88
GF Value™: KWD1.11 vs. price of KWD0.86 (22.6% below fair value)
No single metric tells the full story. See the KUW:CGC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Combined Group Contracting SA K C is a Kuwait-based company engaged in the construction of residential, commercial, and governmental buildings, roads, and infrastructure, and oil and gas-related development projects. Its service centers are Ready Mix plant, Asphalt Factories, Heavy Equipment, and Service Centers. The Group is divided into functional divisions to manage its various lines of business. The Group operates mainly in the State of Kuwait and other Gulf countries. The Group's segments are: the State of Kuwait segment and the Gulf Countries segment. It generates the majority of its revenue from the State of Kuwait segment.
77GF Score
Get the complete analysis for KUW:CGC
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
KUW:CGC has been successfully added to your 
