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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.
AST SpaceMobile's Net-Net Working Capital for the quarter that ended in Mar. 2026 was MXN-55.18.
The industry rank for AST SpaceMobile's Net-Net Working Capital or its related term are showing as below:
MEX:ASTS's Price-to-Net-Net-Working-Capital is not ranked *
in the Hardware industry.
Industry Median: 8.67 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
AST SpaceMobile (MEX:ASTS) 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.
AST SpaceMobile Net-Net Working Capital Related Terms
AST SpaceMobile Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for AST SpaceMobile'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.
MEX:ASTS vs ZBRA, VIAV, AAOI: Net-Net Working Capital Comparison
For the Communication Equipment subindustry, AST SpaceMobile'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.
AST SpaceMobile Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, AST SpaceMobile's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where AST SpaceMobile'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 MXN-55.18 mean?
AST SpaceMobile (MEX:ASTS) has a Net-Net Working Capital of MXN-55.18 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 AST SpaceMobile According to the industry distribution chart, AST SpaceMobile ranks #999999 out of 1217 companies in the Hardware industry.
Is AST SpaceMobile's Net-Net Working Capital too high?
AST SpaceMobile's current Net-Net Working Capital is MXN-55.18. Based on the distribution chart, AST SpaceMobile ranks #999999 out of 1217 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, AST SpaceMobile has a GF Score™ of 23/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does AST SpaceMobile's Net-Net Working Capital compare to ZBRA and VIAV?
According to the Hardware industry distribution chart, AST SpaceMobile ranks #999999 out of 1217 companies for Net-Net Working Capital. This places AST SpaceMobile in the lower half of its industry. The industry median Net-Net Working Capital is 8.67. 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 8.67, based on 1,217 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 AST SpaceMobile For the Hardware industry, the median Net-Net Working Capital is 8.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AST SpaceMobile's current Net-Net Working Capital is MXN-55.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AST SpaceMobile stock overvalued right now?
Based on GuruFocus' analysis, AST SpaceMobile (MEX:ASTS) is currently considered Possible Value Trap. The stock's GF Value™ is MXN8,656.26, compared to a current price of MXN1,016.74 — trading 88.3% below its estimated fair value. The current Net-Net Working Capital is MXN-55.18. AST SpaceMobile's overall GF Score™ is 23/100 with 6 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 AST SpaceMobile (MEX:ASTS), the current Net-Net Working Capital is MXN-55.18 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 AST SpaceMobile (MEX:ASTS) Overvalued in 2026?
Based on GuruFocus' analysis, AST SpaceMobile stock appears to be undervalued.
The current stock price of MXN1,016.74 is trading 88.3% below its estimated GF Value™ of MXN8,656.26.
GuruFocus considers AST SpaceMobile to be Possible Value Trap.
Key valuation signals for MEX:ASTS:
Net-Net Working Capital: MXN-55.18
GF Value™: MXN8,656.26 vs. price of MXN1,016.74 (88.3% below fair value)
No single metric tells the full story. See the MEX:ASTS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AST SpaceMobile Inc is currently designing, developing and manufacturing the constellation of BlueBird (BB) satellites and has begun launching its planned space-based Cellular Broadband network distributed through a constellation of low Earth orbit (LEO) satellites. The company is building a cellular broadband network in space to operate directly with standard, unmodified mobile devices, and off-the-shelf mobile phones based on extensive IP and patent portfolio. It has focused on eliminating the connectivity gaps faced by mobile subscribers. The Company's spaceMobile Service is being designed to provide cost-effective, high-speed Cellular Broadband services to end-users who are out of terrestrial cellular coverage using existing mobile devices.
23GF Score
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