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.
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.
Xerox Holdings's Net-Net Working Capital for the quarter that ended in Jun. 2026 was MXN-992.59.
The industry rank for Xerox Holdings's Net-Net Working Capital or its related term are showing as below:
MEX:XRX's Price-to-Net-Net-Working-Capital is not ranked *
in the Industrial Products industry.
Industry Median: 8.4 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Xerox Holdings (MEX:XRX) 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.
Xerox Holdings Net-Net Working Capital Related Terms
Xerox Holdings Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Xerox Holdings'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:XRX vs ACCO, ACTG, EBF: Net-Net Working Capital Comparison
For the Business Equipment & Supplies subindustry, Xerox Holdings'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.
Xerox Holdings Price-to-Net-Net-Working-Capital vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Xerox Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Xerox Holdings'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-992.59 mean?
Xerox Holdings (MEX:XRX) has a Net-Net Working Capital of MXN-992.59 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 Xerox Holdings According to the industry distribution chart, Xerox Holdings ranks #999999 out of 1355 companies in the Industrial Products industry.
Is Xerox Holdings' Net-Net Working Capital too high?
Xerox Holdings' current Net-Net Working Capital is MXN-992.59. Based on the distribution chart, Xerox Holdings ranks #999999 out of 1355 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Xerox Holdings has a GF Score™ of 57/100, reflecting its overall financial health beyond just this single metric.
How does Xerox Holdings' Net-Net Working Capital compare to ACCO and ACTG?
According to the Industrial Products industry distribution chart, Xerox Holdings ranks #999999 out of 1355 companies for Net-Net Working Capital. This places Xerox Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 8.40. 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 an Industrial Products company?
The median Net-Net Working Capital among Industrial Products companies is 8.40, based on 1,355 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 Xerox Holdings For the Industrial Products industry, the median Net-Net Working Capital is 8.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Xerox Holdings's current Net-Net Working Capital is MXN-992.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Xerox Holdings stock overvalued right now?
Xerox Holdings (MEX:XRX) has a current Net-Net Working Capital of MXN-992.59. The stock's GF Value™ is MXN104.56, compared to a current price of MXN34.50 — trading 67% below its estimated fair value. The current Net-Net Working Capital is MXN-992.59. Xerox Holdings' overall GF Score™ is 57/100 with 7 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 Xerox Holdings (MEX:XRX), the current Net-Net Working Capital is MXN-992.59 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.
Is Xerox Holdings (MEX:XRX) Overvalued in 2026?
Based on GuruFocus' analysis, Xerox Holdings stock appears to be undervalued.
The current stock price of MXN34.50 is trading 67% below its estimated GF Value™ of MXN104.56.
Key valuation signals for MEX:XRX:
Net-Net Working Capital: MXN-992.59
GF Value™: MXN104.56 vs. price of MXN34.50 (67% below fair value)
No single metric tells the full story. See the MEX:XRX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Xerox Holdings Corp is a workplace technology company, building and integrating services-led, software-enabled, workplace solutions for enterprises large and small. It provide advance document technology, services, software, and integrated IT infrastructure solutions for a range of customers including small and mid-sized businesses, large enterprises, governments and graphic communications providers, and for partners who serve them. Xerox serves customers globally in North America, Europe, Latin America, Brazil, Asia Pacific (APAC), the Middle East, Africa, and India.
57GF Score
Get the complete analysis for MEX:XRX
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
MEX:XRX has been successfully added to your 
