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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.
VIGO Photonics's Net-Net Working Capital for the quarter that ended in Mar. 2026 was zł-56.42.
The industry rank for VIGO Photonics's Net-Net Working Capital or its related term are showing as below:
LTS:0R4B's Price-to-Net-Net-Working-Capital is not ranked *
in the Hardware industry.
Industry Median: 9.02 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
VIGO Photonics (LTS:0R4B) 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.
VIGO Photonics Net-Net Working Capital Related Terms
VIGO Photonics Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for VIGO Photonics'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:0R4B vs APH, GLW, TEL: Net-Net Working Capital Comparison
For the Electronic Components subindustry, VIGO Photonics'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.
VIGO Photonics Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, VIGO Photonics's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where VIGO Photonics'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 zł-56.42 mean?
VIGO Photonics (LTS:0R4B) has a Net-Net Working Capital of zł-56.42 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 VIGO Photonics According to the industry distribution chart, VIGO Photonics ranks #999999 out of 1129 companies in the Hardware industry.
Is VIGO Photonics' Net-Net Working Capital too high?
VIGO Photonics' current Net-Net Working Capital is zł-56.42. Based on the distribution chart, VIGO Photonics ranks #999999 out of 1129 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, VIGO Photonics has a GF Score™ of 86/100, reflecting its overall financial health beyond just this single metric.
How does VIGO Photonics' Net-Net Working Capital compare to APH and GLW?
According to the Hardware industry distribution chart, VIGO Photonics ranks #999999 out of 1129 companies for Net-Net Working Capital. This places VIGO Photonics in the lower half of its industry. The industry median Net-Net Working Capital is 9.02. 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 9.02, based on 1,129 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 VIGO Photonics For the Hardware industry, the median Net-Net Working Capital is 9.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VIGO Photonics's current Net-Net Working Capital is zł-56.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VIGO Photonics stock overvalued right now?
VIGO Photonics (LTS:0R4B) has a current Net-Net Working Capital of zł-56.42. The stock's GF Value™ is zł944.30, compared to a current price of zł719.52 — trading 23.8% below its estimated fair value. The current Net-Net Working Capital is zł-56.42. VIGO Photonics' overall GF Score™ is 86/100 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 VIGO Photonics (LTS:0R4B), the current Net-Net Working Capital is zł-56.42 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 VIGO Photonics (LTS:0R4B) Overvalued in 2026?
Based on GuruFocus' analysis, VIGO Photonics stock appears to be undervalued.
The current stock price of zł719.52 is trading 23.8% below its estimated GF Value™ of zł944.30.
Key valuation signals for LTS:0R4B:
Net-Net Working Capital: zł-56.42
GF Value™: zł944.30 vs. price of zł719.52 (23.8% below fair value)
No single metric tells the full story. See the LTS:0R4B stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
VIGO Photonics SA is a manufacturer of uncooled infrared photon detectors. The detectors are used in the fields of Industry, Defense and Security, Environmental Protection, Healthcare, Transport, and Research & Development. The company's products include MCT Detectors, InAs Detectors, InAsSb Detectors, and Dedicated electronics. It has two operating segments: the Semiconductor modules segment and the Semiconductor materials segment.
86GF Score
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