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Argo Defence Group ABNGM:ARGO +1.32%11 Net-Net Working Capital is kr0.02 as of Dec. 2025. GuruFocus rates NGM:ARGO with a GF Score™ of 11/100. Among 114 Aerospace & Defense companies, Argo Defence Group AB ranks worse than 100% 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.
Argo Defence Group AB's Net-Net Working Capital for the quarter that ended in Dec. 2025 was kr0.02.
The industry rank for Argo Defence Group AB's Net-Net Working Capital or its related term are showing as below:
NGM:ARGO's Price-to-Net-Net-Working-Capital is ranked worse than 100% of 114
companies
in the Aerospace & Defense industry
Industry Median: 9.98
vs NGM:ARGO: 765.00
Argo Defence Group AB (NGM:ARGO) 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.
Argo Defence Group AB Net-Net Working Capital Related Terms
Argo Defence Group AB Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Argo Defence Group AB'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.
Argo Defence Group AB Net-Net Working Capital Chart
Argo Defence Group AB Annual Data
Trend
Dec23
Dec24
Dec25
Net-Net Working Capital
-0.86
-1.30
0.02
Argo Defence Group AB Semi-Annual Data
Dec23
Dec24
Dec25
Net-Net Working Capital
-0.86
-1.30
0.02
NGM:ARGO vs SPCX, GE, RTX: Net-Net Working Capital Comparison
For the Aerospace & Defense subindustry, Argo Defence Group AB'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.
Argo Defence Group AB Price-to-Net-Net-Working-Capital vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Argo Defence Group AB's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Argo Defence Group AB'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 kr0.02 mean?
Argo Defence Group AB (NGM:ARGO) has a Net-Net Working Capital of kr0.02 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 Argo Defence Group AB According to the industry distribution chart, Argo Defence Group AB ranks #114 out of 114 companies in the Aerospace & Defense industry.
Is Argo Defence Group AB's Net-Net Working Capital too high?
Argo Defence Group AB's current Net-Net Working Capital is kr0.02. Based on the distribution chart, Argo Defence Group AB ranks #114 out of 114 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Argo Defence Group AB has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.
How does Argo Defence Group AB's Net-Net Working Capital compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Argo Defence Group AB ranks #114 out of 114 companies for Net-Net Working Capital. This places Argo Defence Group AB in the lower half of its industry. The industry median Net-Net Working Capital is 9.98. 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 Aerospace & Defense company?
The median Net-Net Working Capital among Aerospace & Defense companies is 9.98, based on 114 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 Argo Defence Group AB For the Aerospace & Defense industry, the median Net-Net Working Capital is 9.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Argo Defence Group AB's current Net-Net Working Capital is kr0.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Argo Defence Group AB stock overvalued right now?
Argo Defence Group AB (NGM:ARGO) has a current Net-Net Working Capital of kr0.02. The current Net-Net Working Capital is kr0.02. Argo Defence Group AB's overall GF Score™ is 11/100. 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 Argo Defence Group AB (NGM:ARGO), the current Net-Net Working Capital is kr0.02 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.
Argo Defence Group AB is a defence company. The company is focused on providing materiel, technology, and system solutions to strengthen military and civil defence sectors. The company operates in three areas namely, Defence Materiel, Counter-Explosive Risk Solutions, and Airfield Operations. The Defence Materiel develops equipment and systems for national defence and civil protection; Counter-Explosive Risk Solutions handles mine clearance, risk management, and safe munitions destruction; and Airfield Operations builds technical systems for airports and high-security sites.
11GF Score
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