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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.
Lynas Rare Earths's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $0.39.
The industry rank for Lynas Rare Earths's Net-Net Working Capital or its related term are showing as below:
LYSCF's Price-to-Net-Net-Working-Capital is ranked worse than 87.65% of 1142
companies
in the Metals & Mining industry
Industry Median: 7.5
vs LYSCF: 28.80
Lynas Rare Earths (OTCPK:LYSCF) 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.
Lynas Rare Earths Net-Net Working Capital Related Terms
Lynas Rare Earths Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Lynas Rare Earths'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.
Lynas Rare Earths Net-Net Working Capital Competitor Comparison
For the Other Industrial Metals & Mining subindustry, Lynas Rare Earths'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.
Lynas Rare Earths Price-to-Net-Net-Working-Capital vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Lynas Rare Earths's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Lynas Rare Earths'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 $0.39 mean?
Lynas Rare Earths (LYSCF) has a Net-Net Working Capital of $0.39 as of Dec. 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 Lynas Rare Earths According to the industry distribution chart, Lynas Rare Earths ranks #1001 out of 1142 companies in the Metals & Mining industry, placing it in the top 87.7%.
Is Lynas Rare Earths' Net-Net Working Capital too high?
Lynas Rare Earths' current Net-Net Working Capital is $0.39. The Metals & Mining industry median Net-Net Working Capital is 7.50. Lynas Rare Earths' value of $0.39 is 94.8% below this industry median. Based on the distribution chart, Lynas Rare Earths ranks #1001 out of 1142 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Lynas Rare Earths has a GF Score™ of 78/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Lynas Rare Earths' Net-Net Working Capital compare to competitors?
According to the Metals & Mining industry distribution chart, Lynas Rare Earths ranks #1001 out of 1142 companies for Net-Net Working Capital. This places Lynas Rare Earths in the lower half of its industry. The industry median Net-Net Working Capital is 7.50. Lynas Rare Earths' value of $0.39 is 94.8% 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 Metals & Mining company?
The median Net-Net Working Capital among Metals & Mining companies is 7.50, based on 1,142 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. Lynas Rare Earths's current Net-Net Working Capital of $0.39 is 94.8% 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 Lynas Rare Earths For the Metals & Mining industry, the median Net-Net Working Capital is 7.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lynas Rare Earths's current Net-Net Working Capital is $0.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lynas Rare Earths stock overvalued right now?
Based on GuruFocus' analysis, Lynas Rare Earths (LYSCF) is currently considered Modestly Overvalued. The stock's GF Value™ is $9.63, compared to a current price of $11.81 — trading 22.6% above its estimated fair value. The current Net-Net Working Capital is $0.39 and 94.8% below the Metals & Mining industry median of 7.50. Lynas Rare Earths' overall GF Score™ is 78/100 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 Lynas Rare Earths (LYSCF), the current Net-Net Working Capital is $0.39 as of Dec. 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.
Is Lynas Rare Earths (LYSCF) Overvalued in 2026?
Based on GuruFocus' analysis, Lynas Rare Earths stock appears to be overvalued.
The current stock price of $11.81 is trading 22.6% above its estimated GF Value™ of $9.63.
GuruFocus considers Lynas Rare Earths to be Modestly Overvalued.
Key valuation signals for LYSCF:
Net-Net Working Capital: $0.39
GF Value™: $9.63 vs. price of $11.81 (22.6% above fair value)
Industry Position: 94.8% below the Metals & Mining median (#1001 of 1142)
No single metric tells the full story. See the LYSCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lynas is the largest rare-earth producer outside China. It owns the high-grade Mount Weld deposit in Western Australia and rare-earth processing facilities in Kalgoorlie and Malaysia. We estimate that Mount Weld is the world's lowest-cost producer of separated neodymium and praseodymium, light rare-earth materials, which are sold to customers in the form of neodymium-praseodymium oxide with a mine life exceeding 20 years. As of December 2025, Lynas is also the only producer of separated heavy rare-earth dysprosium and terbium outside China. The company is further expanding NdPr capacity while diversifying into producing additional separated rare-earth materials, including samarium. It also intends to move downstream into rare-earth metal and magnet production.
78GF Score
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