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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.
Lightspeed Commerce's Net-Net Working Capital for the quarter that ended in Jun. 2026 was $1.58.
The industry rank for Lightspeed Commerce's Net-Net Working Capital or its related term are showing as below:
LSPD's Price-to-Net-Net-Working-Capital is ranked better than 53.03% of 1256
companies
in the Software industry
Industry Median: 7.1
vs LSPD: 6.46
Lightspeed Commerce (NYSE:LSPD) 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.
Lightspeed Commerce Net-Net Working Capital Related Terms
Lightspeed Commerce Net-Net Working Capital Historical Data
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The historical data trend for Lightspeed Commerce'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.
LSPD vs QH, SHOP, UBER: Net-Net Working Capital Comparison
For the Software - Application subindustry, Lightspeed Commerce'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.
Lightspeed Commerce Price-to-Net-Net-Working-Capital vs Software Industry
For the Software industry and Technology sector, Lightspeed Commerce's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Lightspeed Commerce'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 $1.58 mean?
Lightspeed Commerce (LSPD) has a Net-Net Working Capital of $1.58 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 Lightspeed Commerce According to the industry distribution chart, Lightspeed Commerce ranks #590 out of 1256 companies in the Software industry, placing it in the top 47%.
Is Lightspeed Commerce's Net-Net Working Capital too high?
Lightspeed Commerce's current Net-Net Working Capital is $1.58. The Software industry median Net-Net Working Capital is 7.10. Lightspeed Commerce's value of $1.58 is 77.7% below this industry median. Based on the distribution chart, Lightspeed Commerce ranks #590 out of 1256 companies in the Software industry, which is above the industry midpoint. Overall, Lightspeed Commerce has a GF Score™ of 76/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Lightspeed Commerce's Net-Net Working Capital compare to QH and SHOP?
According to the Software industry distribution chart, Lightspeed Commerce ranks #590 out of 1256 companies for Net-Net Working Capital. This puts Lightspeed Commerce in the upper half of its industry. The industry median Net-Net Working Capital is 7.10. Lightspeed Commerce's value of $1.58 is 77.7% 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 Software company?
The median Net-Net Working Capital among Software companies is 7.10, based on 1,256 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. Lightspeed Commerce's current Net-Net Working Capital of $1.58 is 77.7% 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 Lightspeed Commerce For the Software industry, the median Net-Net Working Capital is 7.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lightspeed Commerce's current Net-Net Working Capital is $1.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lightspeed Commerce stock overvalued right now?
Based on GuruFocus' analysis, Lightspeed Commerce (LSPD) is currently considered Significantly Undervalued. The stock's GF Value™ is $17.97, compared to a current price of $10.27 — trading 42.8% below its estimated fair value. The current Net-Net Working Capital is $1.58 and 77.7% below the Software industry median of 7.10. Lightspeed Commerce's overall GF Score™ is 76/100 with 2 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 Lightspeed Commerce (LSPD), the current Net-Net Working Capital is $1.58 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 Lightspeed Commerce (LSPD) Overvalued in 2026?
Based on GuruFocus' analysis, Lightspeed Commerce stock appears to be undervalued.
The current stock price of $10.27 is trading 42.8% below its estimated GF Value™ of $17.97.
GuruFocus considers Lightspeed Commerce to be Significantly Undervalued.
Key valuation signals for LSPD:
Net-Net Working Capital: $1.58
GF Value™: $17.97 vs. price of $10.27 (42.8% below fair value)
Industry Position: 77.7% below the Software median (#590 of 1256)
No single metric tells the full story. See the LSPD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lightspeed Commerce Inc is a one-stop commerce platform providing its customers with the critical functionalities needed to engage with consumers, manage their operations, order their inventory, accept payments, and run their business. It has customers globally in over 100 countries, empowering single- and multi-location small and medium-sized businesses to compete in an omni-channel market environment by engaging with consumers across online, mobile, social, and physical channels. Its products are divided into retail, restaurant, and golf categories. Geographically, it operates in Canada, the United States, the United Kingdom, Switzerland, Germany, and Others with the majority of revenue deriving from Canada.
76GF Score
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