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Light Science Technologies HoldingsLSE:LST +8.82% Net-Net Working Capital is £-0.01 as of Nov. 2025. The stock has 2 warning signs investors should review. Among 1,204 Hardware companies, Light Science Technologies Holdings ranks worse than 83056.4% 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.
LSE:LST's Price-to-Net-Net-Working-Capital is not ranked *
in the Hardware industry.
Industry Median: 8.465 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Light Science Technologies Holdings (LSE:LST) 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.
Light Science Technologies Holdings Net-Net Working Capital Related Terms
Light Science Technologies Holdings 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.
Light Science Technologies Holdings Net-Net Working Capital Chart
LSE:LST vs APH, GLW, TEL: Net-Net Working Capital Comparison
For the Electronic Components subindustry, Light Science Technologies Holdings'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.
Light Science Technologies Holdings Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, Light Science Technologies Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Light Science Technologies Holdings'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 £-0.01 mean?
Light Science Technologies Holdings (LSE:LST) has a Net-Net Working Capital of £-0.01 as of Nov. 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 Light Science Technologies Holdings According to the industry distribution chart, Light Science Technologies Holdings ranks #999999 out of 1204 companies in the Hardware industry.
Is Light Science Technologies Holdings' Net-Net Working Capital too high?
Light Science Technologies Holdings' current Net-Net Working Capital is £-0.01. Based on the distribution chart, Light Science Technologies Holdings ranks #999999 out of 1204 companies in the Hardware industry, which is in the bottom quartile relative to peers.
How does Light Science Technologies Holdings' Net-Net Working Capital compare to APH and GLW?
According to the Hardware industry distribution chart, Light Science Technologies Holdings ranks #999999 out of 1204 companies for Net-Net Working Capital. This places Light Science Technologies Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 8.47. 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 Hardware company?
The median Net-Net Working Capital among Hardware companies is 8.47, based on 1,204 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 Light Science Technologies Holdings For the Hardware industry, the median Net-Net Working Capital is 8.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Light Science Technologies Holdings's current Net-Net Working Capital is £-0.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Light Science Technologies Holdings stock overvalued right now?
Based on GuruFocus' analysis, Light Science Technologies Holdings (LSE:LST) is currently considered Fairly Valued. The stock's GF Value™ is £0.02, compared to a current price of £0.02 — trading 7.5% below its estimated fair value. The current Net-Net Working Capital is £-0.01. 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 Light Science Technologies Holdings (LSE:LST), the current Net-Net Working Capital is £-0.01 as of Nov. 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.
Light Science Technologies Holdings PLC focuses on the development and manufacturing of Contract electronic boards and lighting and technology products for the Controlled Environment Agriculture (CEA) sector. The company operates in Contract Electronics Manufacturing, Agtech, and Passive fire protection. The company generates maximum revenue from the Contract electronics manufacturing segment. Geographically, the company operates in United Kingdom, Europe and Rest of the World, of which it derives maximum revenue from United Kingdom.
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