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.
Wereldhave Belgium's Net-Net Working Capital for the quarter that ended in Jun. 2026 was €-38.50.
The industry rank for Wereldhave Belgium's Net-Net Working Capital or its related term are showing as below:
LTS:0N2C's Price-to-Net-Net-Working-Capital is not ranked *
in the REITs industry.
Industry Median: 16.375 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Wereldhave Belgium (LTS:0N2C) 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.
Wereldhave Belgium Net-Net Working Capital Related Terms
Wereldhave Belgium Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Wereldhave Belgium'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.
LTS:0N2C vs SPG, O, KIM: Net-Net Working Capital Comparison
For the REIT - Retail subindustry, Wereldhave Belgium'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.
Wereldhave Belgium Price-to-Net-Net-Working-Capital vs REITs Industry
For the REITs industry and Real Estate sector, Wereldhave Belgium's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Wereldhave Belgium'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 €-38.50 mean?
Wereldhave Belgium (LTS:0N2C) has a Net-Net Working Capital of €-38.50 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 Wereldhave Belgium According to the industry distribution chart, Wereldhave Belgium ranks #999999 out of 110 companies in the REITs industry.
Is Wereldhave Belgium's Net-Net Working Capital too high?
Wereldhave Belgium's current Net-Net Working Capital is €-38.50. Based on the distribution chart, Wereldhave Belgium ranks #999999 out of 110 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Wereldhave Belgium has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Wereldhave Belgium's Net-Net Working Capital compare to SPG and O?
According to the REITs industry distribution chart, Wereldhave Belgium ranks #999999 out of 110 companies for Net-Net Working Capital. This places Wereldhave Belgium in the lower half of its industry. The industry median Net-Net Working Capital is 16.38. 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 REITs company?
The median Net-Net Working Capital among REITs companies is 16.38, based on 110 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 Wereldhave Belgium For the REITs industry, the median Net-Net Working Capital is 16.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Wereldhave Belgium's current Net-Net Working Capital is €-38.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wereldhave Belgium stock overvalued right now?
Based on GuruFocus' analysis, Wereldhave Belgium (LTS:0N2C) is currently considered Fairly Valued. The stock's GF Value™ is €48.28, compared to a current price of €52.00 — trading 7.7% above its estimated fair value. The current Net-Net Working Capital is €-38.50. Wereldhave Belgium's overall GF Score™ is 78/100 with 11 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 Wereldhave Belgium (LTS:0N2C), the current Net-Net Working Capital is €-38.50 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 Wereldhave Belgium (LTS:0N2C) Overvalued in 2026?
Based on GuruFocus' analysis, Wereldhave Belgium stock appears to be overvalued.
The current stock price of €52.00 is trading 7.7% above its estimated GF Value™ of €48.28.
GuruFocus considers Wereldhave Belgium to be Fairly Valued.
Key valuation signals for LTS:0N2C:
Net-Net Working Capital: €-38.50
GF Value™: €48.28 vs. price of €52.00 (7.7% above fair value)
No single metric tells the full story. See the LTS:0N2C stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Wereldhave Belgium is a publicly-regulated real estate company with a focus on commercial property and operating in Belgium. Wereldhave Belgium targets shopping centers as new investments. Its operational shopping center portfolio includes locations in Liege, Nivelles, Tournai, Ghent, Genk, Waterloo, and Kortrijk. The company also owns office properties in Brussels, Vilvoorde, and Antwerp. The company's focus is to create value through both active management and redevelopment, with tactics that include maintaining contact with lessees to acquire up-to-date market information. The company has two segments: offices and retail.
78GF Score
Get the complete analysis for LTS:0N2C
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
LTS:0N2C has been successfully added to your 
