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Open LendingLPRO +0.32%70 Net-Net Working Capital is $0.18 as of Mar. 2026. GuruFocus rates LPRO with a GF Score™ of 70/100 and a GF Value™ of $5.79 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 75 Credit Services companies, Open Lending ranks worse than 73.33% on this metric.
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.
Open Lending's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $0.18.
The industry rank for Open Lending's Net-Net Working Capital or its related term are showing as below:
LPRO's Price-to-Net-Net-Working-Capital is ranked worse than 73.33% of 75
companies
in the Credit Services industry
Industry Median: 7.05
vs LPRO: 17.44
Open Lending (NAS:LPRO) 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.
Open Lending Net-Net Working Capital Related Terms
Open Lending Net-Net Working Capital Historical Data
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The historical data trend for Open Lending'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.
LPRO vs RM, HTT, LX: Net-Net Working Capital Comparison
For the Credit Services subindustry, Open Lending'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.
Open Lending Price-to-Net-Net-Working-Capital vs Credit Services Industry
For the Credit Services industry and Financial Services sector, Open Lending's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Open Lending'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 $0.18 mean?
Open Lending (LPRO) has a Net-Net Working Capital of $0.18 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 Open Lending According to the industry distribution chart, Open Lending ranks #55 out of 75 companies in the Credit Services industry, placing it in the top 73.3%.
Is Open Lending's Net-Net Working Capital too high?
Open Lending's current Net-Net Working Capital is $0.18. The Credit Services industry median Net-Net Working Capital is 7.05. Open Lending's value of $0.18 is 97.4% below this industry median. Based on the distribution chart, Open Lending ranks #55 out of 75 companies in the Credit Services industry, which is below the industry midpoint. Overall, Open Lending has a GF Score™ of 70/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Open Lending's Net-Net Working Capital compare to RM and HTT?
According to the Credit Services industry distribution chart, Open Lending ranks #55 out of 75 companies for Net-Net Working Capital. This places Open Lending in the lower half of its industry. The industry median Net-Net Working Capital is 7.05. Open Lending's value of $0.18 is 97.4% below this benchmark. 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 Credit Services company?
The median Net-Net Working Capital among Credit Services companies is 7.05, based on 75 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. Open Lending's current Net-Net Working Capital of $0.18 is 97.4% below the industry median. 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 Open Lending For the Credit Services industry, the median Net-Net Working Capital is 7.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Open Lending's current Net-Net Working Capital is $0.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Open Lending stock overvalued right now?
Based on GuruFocus' analysis, Open Lending (LPRO) is currently considered Possible Value Trap. The stock's GF Value™ is $5.79, compared to a current price of $3.14 — trading 45.8% below its estimated fair value. The current Net-Net Working Capital is $0.18 and 97.4% below the Credit Services industry median of 7.05. Open Lending's overall GF Score™ is 70/100 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 Open Lending (LPRO), the current Net-Net Working Capital is $0.18 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 Open Lending (LPRO) Overvalued in 2026?
Based on GuruFocus' analysis, Open Lending stock appears to be undervalued.
The current stock price of $3.14 is trading 45.8% below its estimated GF Value™ of $5.79.
GuruFocus considers Open Lending to be Possible Value Trap.
Key valuation signals for LPRO:
Net-Net Working Capital: $0.18
GF Value™: $5.79 vs. price of $3.14 (45.8% below fair value)
Industry Position: 97.4% below the Credit Services median (#55 of 75)
No single metric tells the full story. See the LPRO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Open Lending Corp is a provider of lending enablement and risk analytics to credit unions, regional banks, finance companies and the captive finance companies of automakers (OEM captive finance companies). Through its flagship product, LPP, its customers, collectively referred to herein as automotive lenders or lenders, make automotive consumer loans to underserved near-prime and non-prime borrowers by harnessing its risk-based interest rate pricing models, powered by its proprietary data and real-time underwriting of automotive loan default insurance coverage from insurers.
70GF Score
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