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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.
KUW:SHIP'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.
Heavy Engineering Industries and Shipbuilding Co KSC (KUW:SHIP) 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.
Heavy Engineering Industries and Shipbuilding Co KSC Net-Net Working Capital Related Terms
Heavy Engineering Industries and Shipbuilding Co KSC 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.
Heavy Engineering Industries and Shipbuilding Co KSC Net-Net Working Capital Chart
Heavy Engineering Industries and Shipbuilding Co KSC Annual Data
KUW:SHIP vs PWR, FIX, EME: Net-Net Working Capital Comparison
For the Engineering & Construction subindustry, Heavy Engineering Industries and Shipbuilding Co KSC'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.
Heavy Engineering Industries and Shipbuilding Co KSC Price-to-Net-Net-Working-Capital vs Construction Industry
* 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-0.70 mean?
Heavy Engineering Industries and Shipbuilding Co KSC (KUW:SHIP) has a Net-Net Working Capital of KWD-0.70 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 Heavy Engineering Industries and Shipbuilding Co KSC According to the industry distribution chart, Heavy Engineering Industries and Shipbuilding Co KSC ranks #999999 out of 475 companies in the Construction industry.
Is Heavy Engineering Industries and Shipbuilding Co KSC's Net-Net Working Capital too high?
Heavy Engineering Industries and Shipbuilding Co KSC's current Net-Net Working Capital is KWD-0.70. Based on the distribution chart, Heavy Engineering Industries and Shipbuilding Co KSC ranks #999999 out of 475 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Heavy Engineering Industries and Shipbuilding Co KSC has a GF Score™ of 82/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Heavy Engineering Industries and Shipbuilding Co KSC's Net-Net Working Capital compare to PWR and FIX?
According to the Construction industry distribution chart, Heavy Engineering Industries and Shipbuilding Co KSC ranks #999999 out of 475 companies for Net-Net Working Capital. This places Heavy Engineering Industries and Shipbuilding Co KSC 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 Heavy Engineering Industries and Shipbuilding Co KSC 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. Heavy Engineering Industries and Shipbuilding Co KSC's current Net-Net Working Capital is KWD-0.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heavy Engineering Industries and Shipbuilding Co KSC stock overvalued right now?
Based on GuruFocus' analysis, Heavy Engineering Industries and Shipbuilding Co KSC (KUW:SHIP) is currently considered Possible Value Trap. The stock's GF Value™ is KWD1.05, compared to a current price of KWD0.62 — trading 40.7% below its estimated fair value. The current Net-Net Working Capital is KWD-0.70. Heavy Engineering Industries and Shipbuilding Co KSC's overall GF Score™ is 82/100 with 4 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 Heavy Engineering Industries and Shipbuilding Co KSC (KUW:SHIP), the current Net-Net Working Capital is KWD-0.70 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 Heavy Engineering Industries and Shipbuilding Co KSC (KUW:SHIP) Overvalued in 2026?
Based on GuruFocus' analysis, Heavy Engineering Industries and Shipbuilding Co KSC stock appears to be undervalued.
The current stock price of KWD0.62 is trading 40.7% below its estimated GF Value™ of KWD1.05.
GuruFocus considers Heavy Engineering Industries and Shipbuilding Co KSC to be Possible Value Trap.
Key valuation signals for KUW:SHIP:
Net-Net Working Capital: KWD-0.70
GF Value™: KWD1.05 vs. price of KWD0.62 (40.7% below fair value)
No single metric tells the full story. See the KUW:SHIP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heavy Engineering Industries and Shipbuilding Co KSC is engaged in engineering, procurement, and construction (EPC) contracting, focusing on the shipping and maritime industry in Kuwait. The Company serves sectors including oil and gas, refineries, petrochemicals, power, water distillation and desalination, shipbuilding, ship repair, dredging, and maritime construction. Its activities include industrial and marine works, installation and maintenance services, trading of equipment and spare parts, and contracting and tendering with international companies. It also provides services such as shipyard operations, fabrication, testing and calibration, quality control, scaffolding, galvanizing, onshore and offshore operations, technical manpower supply, and design and engineering services.
82GF 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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