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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.
Maanshan Iron And Steel Co's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $-0.75.
The industry rank for Maanshan Iron And Steel Co's Net-Net Working Capital or its related term are showing as below:
MAANF's Price-to-Net-Net-Working-Capital is not ranked *
in the Steel industry.
Industry Median: 4.59 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Maanshan Iron And Steel Co (OTCPK:MAANF) 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.
Maanshan Iron And Steel Co Net-Net Working Capital Related Terms
Maanshan Iron And Steel Co 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.
Maanshan Iron And Steel Co Net-Net Working Capital Chart
MAANF vs NUE, STLD, RS: Net-Net Working Capital Comparison
For the Steel subindustry, Maanshan Iron And Steel Co'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.
Maanshan Iron And Steel Co Price-to-Net-Net-Working-Capital vs Steel Industry
For the Steel industry and Basic Materials sector, Maanshan Iron And Steel Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Maanshan Iron And Steel Co'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 $-0.75 mean?
Maanshan Iron And Steel Co (MAANF) has a Net-Net Working Capital of $-0.75 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 Maanshan Iron And Steel Co According to the industry distribution chart, Maanshan Iron And Steel Co ranks #999999 out of 175 companies in the Steel industry.
Is Maanshan Iron And Steel Co's Net-Net Working Capital too high?
Maanshan Iron And Steel Co's current Net-Net Working Capital is $-0.75. Based on the distribution chart, Maanshan Iron And Steel Co ranks #999999 out of 175 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Maanshan Iron And Steel Co has a GF Score™ of 42/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Maanshan Iron And Steel Co's Net-Net Working Capital compare to NUE and STLD?
According to the Steel industry distribution chart, Maanshan Iron And Steel Co ranks #999999 out of 175 companies for Net-Net Working Capital. This places Maanshan Iron And Steel Co in the lower half of its industry. The industry median Net-Net Working Capital is 4.59. 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 Steel company?
The median Net-Net Working Capital among Steel companies is 4.59, based on 175 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 Maanshan Iron And Steel Co For the Steel industry, the median Net-Net Working Capital is 4.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Maanshan Iron And Steel Co's current Net-Net Working Capital is $-0.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maanshan Iron And Steel Co stock overvalued right now?
Based on GuruFocus' analysis, Maanshan Iron And Steel Co (MAANF) is currently considered Modestly Undervalued. The stock's GF Value™ is $0.29, compared to a current price of $0.24 — trading 18% below its estimated fair value. The current Net-Net Working Capital is $-0.75. Maanshan Iron And Steel Co's overall GF Score™ is 42/100 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 Maanshan Iron And Steel Co (MAANF), the current Net-Net Working Capital is $-0.75 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 Maanshan Iron And Steel Co (MAANF) Overvalued in 2026?
Based on GuruFocus' analysis, Maanshan Iron And Steel Co stock appears to be undervalued.
The current stock price of $0.24 is trading 18% below its estimated GF Value™ of $0.29.
GuruFocus considers Maanshan Iron And Steel Co to be Modestly Undervalued.
Key valuation signals for MAANF:
Net-Net Working Capital: $-0.75
GF Value™: $0.29 vs. price of $0.24 (18% below fair value)
No single metric tells the full story. See the MAANF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Maanshan Iron And Steel Co Ltd produces and sells iron and steel products. Its main production processes include iron making, steel making, steel rolling, etc. The Group's key product is steel, which includes four product series of special steel, wheels and axles, long products, and plates. It offers casting round billet, special steel bar, train wheels, axles, wheelsets, section steel, wire rods, hot-rolled plate and cold-rolled plate coils, galvanized plates, color-coated plates, and other products, which are widely used in aviation, railway, ocean, automobile, household appliance, shipbuilding, construction, machinery manufacturing, and other fields. Geographically, the Group generates maximum revenue from the Chinese Mainland, and the rest from Hong Kong and other overseas markets.
42GF Score
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