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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.
The industry rank for Heidelberger Druckmaschinen AG's Net-Net Working Capital or its related term are showing as below:
LTS:0OC2's Price-to-Net-Net-Working-Capital is not ranked *
in the Industrial Products industry.
Industry Median: 8.23 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Heidelberger Druckmaschinen AG (LTS:0OC2) 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.
Heidelberger Druckmaschinen AG Net-Net Working Capital Related Terms
Heidelberger Druckmaschinen AG 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.
Heidelberger Druckmaschinen AG Net-Net Working Capital Chart
LTS:0OC2 vs GEV, ETN, PH: Net-Net Working Capital Comparison
For the Specialty Industrial Machinery subindustry, Heidelberger Druckmaschinen AG'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.
Heidelberger Druckmaschinen AG Price-to-Net-Net-Working-Capital vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Heidelberger Druckmaschinen AG's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Heidelberger Druckmaschinen AG'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 €-3.25 mean?
Heidelberger Druckmaschinen AG (LTS:0OC2) has a Net-Net Working Capital of €-3.25 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 Heidelberger Druckmaschinen AG According to the industry distribution chart, Heidelberger Druckmaschinen AG ranks #999999 out of 1358 companies in the Industrial Products industry.
Is Heidelberger Druckmaschinen AG's Net-Net Working Capital too high?
Heidelberger Druckmaschinen AG's current Net-Net Working Capital is €-3.25. Based on the distribution chart, Heidelberger Druckmaschinen AG ranks #999999 out of 1358 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Heidelberger Druckmaschinen AG has a GF Score™ of 67/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Heidelberger Druckmaschinen AG's Net-Net Working Capital compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Heidelberger Druckmaschinen AG ranks #999999 out of 1358 companies for Net-Net Working Capital. This places Heidelberger Druckmaschinen AG in the lower half of its industry. The industry median Net-Net Working Capital is 8.23. 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 an Industrial Products company?
The median Net-Net Working Capital among Industrial Products companies is 8.23, based on 1,358 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 Heidelberger Druckmaschinen AG For the Industrial Products industry, the median Net-Net Working Capital is 8.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heidelberger Druckmaschinen AG's current Net-Net Working Capital is €-3.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heidelberger Druckmaschinen AG stock overvalued right now?
Based on GuruFocus' analysis, Heidelberger Druckmaschinen AG (LTS:0OC2) is currently considered Modestly Overvalued. The stock's GF Value™ is €1.13, compared to a current price of €1.42 — trading 25.3% above its estimated fair value. The current Net-Net Working Capital is €-3.25. Heidelberger Druckmaschinen AG's overall GF Score™ is 67/100 with 3 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 Heidelberger Druckmaschinen AG (LTS:0OC2), the current Net-Net Working Capital is €-3.25 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 Heidelberger Druckmaschinen AG (LTS:0OC2) Overvalued in 2026?
Based on GuruFocus' analysis, Heidelberger Druckmaschinen AG stock appears to be overvalued.
The current stock price of €1.42 is trading 25.3% above its estimated GF Value™ of €1.13.
GuruFocus considers Heidelberger Druckmaschinen AG to be Modestly Overvalued.
Key valuation signals for LTS:0OC2:
Net-Net Working Capital: €-3.25
GF Value™: €1.13 vs. price of €1.42 (25.3% above fair value)
No single metric tells the full story. See the LTS:0OC2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heidelberger Druckmaschinen AG is a technology company with a position in the printing industry and an increasing focus on other high-tech sectors. The Company leverages its expertise in high-precision plants, integrated control systems, software, power electronics, automation technology, and robotics, supported by a sales and service network. Its operations are organized into the Print & Packaging Equipment, Digital Solutions & Lifecycle, and HEIDELBERG Technology segments, with the Print & Packaging Equipment segment generating maximum revenue through offset, flexographic, and postpress solutions for the packaging and commercial printing sectors. The Company operates across the EMEA, Asia Pacific, and Americas regions.
67GF Score
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