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.
Madison Air SolutionsMAIR +1.22%15 Net-Net Working Capital is $-7.48 as of Jun. 2026. GuruFocus rates MAIR with a GF Score™ of 15/100. The stock has 3 warning signs investors should review. Among 476 Construction companies, Madison Air Solutions ranks worse than 210083.82% on this metric.
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.
Madison Air Solutions's Net-Net Working Capital for the quarter that ended in Jun. 2026 was $-7.48.
The industry rank for Madison Air Solutions's Net-Net Working Capital or its related term are showing as below:
MAIR's Price-to-Net-Net-Working-Capital is not ranked *
in the Construction industry.
Industry Median: 6.78 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Madison Air Solutions (NYSE:MAIR) 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.
Madison Air Solutions Net-Net Working Capital Related Terms
Madison Air Solutions Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Madison Air Solutions'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.
Madison Air Solutions Net-Net Working Capital Chart
Madison Air Solutions Annual Data
Trend
Dec23
Dec24
Dec25
Net-Net Working Capital
-
-9.29
-14.85
Madison Air Solutions Quarterly Data
Mar25
Jun25
Mar26
Jun26
Net-Net Working Capital
-
-
-14.81
-7.48
MAIR vs LII, CSL, MAS: Net-Net Working Capital Comparison
For the Building Products & Equipment subindustry, Madison Air Solutions'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.
Madison Air Solutions Price-to-Net-Net-Working-Capital vs Construction Industry
For the Construction industry and Industrials sector, Madison Air Solutions's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Madison Air Solutions'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 $-7.48 mean?
Madison Air Solutions (MAIR) has a Net-Net Working Capital of $-7.48 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 Madison Air Solutions According to the industry distribution chart, Madison Air Solutions ranks #999999 out of 476 companies in the Construction industry.
Is Madison Air Solutions' Net-Net Working Capital too high?
Madison Air Solutions' current Net-Net Working Capital is $-7.48. Based on the distribution chart, Madison Air Solutions ranks #999999 out of 476 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Madison Air Solutions has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.
How does Madison Air Solutions' Net-Net Working Capital compare to LII and CSL?
According to the Construction industry distribution chart, Madison Air Solutions ranks #999999 out of 476 companies for Net-Net Working Capital. This places Madison Air Solutions in the lower half of its industry. The industry median Net-Net Working Capital is 6.78. 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 Construction company?
The median Net-Net Working Capital among Construction companies is 6.78, based on 476 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 Madison Air Solutions For the Construction industry, the median Net-Net Working Capital is 6.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Madison Air Solutions's current Net-Net Working Capital is $-7.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Madison Air Solutions stock overvalued right now?
Madison Air Solutions (MAIR) has a current Net-Net Working Capital of $-7.48. The current Net-Net Working Capital is $-7.48. Madison Air Solutions' overall GF Score™ is 15/100 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 Madison Air Solutions (MAIR), the current Net-Net Working Capital is $-7.48 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.
Madison Air Solutions Corp is an HVAC and indoor air-quality technology company. Its segments are Commercial and Residential. It generates the majority of its revenue from the Commercial segment, which includes Commercial businesses that deliver well-engineered, custom, and semi-custom air quality systems to support process control, regulatory compliance, energy efficiency, and productivity in mission-critical environments; and the Residential segment, anchored by trusted brands like AprilAire, Broan-NuTone, Zephyr, and Others. Its geographic areas are the U.S, the Americas, Europe, and Other. The group generates the majority of its revenue from the U.S market.
15GF Score
Get the complete analysis for MAIR
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
MAIR has been successfully added to your 
