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LightAir ABNGM:LAIR +8.11%31 Net-Net Working Capital is kr0.04 as of Dec. 2025. GuruFocus rates NGM:LAIR with a GF Score™ of 31/100 and a GF Value™ of kr0.28 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,354 Industrial Products companies, LightAir AB ranks worse than 75.48% 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.
LightAir AB's Net-Net Working Capital for the quarter that ended in Dec. 2025 was kr0.04.
The industry rank for LightAir AB's Net-Net Working Capital or its related term are showing as below:
NGM:LAIR's Price-to-Net-Net-Working-Capital is ranked worse than 75.48% of 1354
companies
in the Industrial Products industry
Industry Median: 8.285
vs NGM:LAIR: 25.00
LightAir AB (NGM:LAIR) 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.
LightAir AB Net-Net Working Capital Related Terms
LightAir AB Net-Net Working Capital Historical Data
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The historical data trend for LightAir 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.
NGM:LAIR vs VLTO, ZWS, CECO: Net-Net Working Capital Comparison
For the Pollution & Treatment Controls subindustry, LightAir 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.
LightAir AB Price-to-Net-Net-Working-Capital vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, LightAir AB's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where LightAir 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 kr0.04 mean?
LightAir AB (NGM:LAIR) has a Net-Net Working Capital of kr0.04 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 LightAir AB According to the industry distribution chart, LightAir AB ranks #1022 out of 1354 companies in the Industrial Products industry, placing it in the top 75.5%.
Is LightAir AB's Net-Net Working Capital too high?
LightAir AB's current Net-Net Working Capital is kr0.04. Based on the distribution chart, LightAir AB ranks #1022 out of 1354 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, LightAir AB has a GF Score™ of 31/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does LightAir AB's Net-Net Working Capital compare to VLTO and ZWS?
According to the Industrial Products industry distribution chart, LightAir AB ranks #1022 out of 1354 companies for Net-Net Working Capital. This places LightAir AB in the lower half of its industry. The industry median Net-Net Working Capital is 8.29. 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 8.29, based on 1,354 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 LightAir AB For the Industrial Products industry, the median Net-Net Working Capital is 8.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. LightAir AB's current Net-Net Working Capital is kr0.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is LightAir AB stock overvalued right now?
Based on GuruFocus' analysis, LightAir AB (NGM:LAIR) is currently considered Significantly Overvalued. The stock's GF Value™ is kr0.28, compared to a current price of kr1.00 — trading 257.1% above its estimated fair value. The current Net-Net Working Capital is kr0.04. LightAir AB's overall GF Score™ is 31/100 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 LightAir AB (NGM:LAIR), the current Net-Net Working Capital is kr0.04 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.
Is LightAir AB (NGM:LAIR) Overvalued in 2026?
Based on GuruFocus' analysis, LightAir AB stock appears to be overvalued.
The current stock price of kr1.00 is trading 257.1% above its estimated GF Value™ of kr0.28.
GuruFocus considers LightAir AB to be Significantly Overvalued.
Key valuation signals for NGM:LAIR:
Net-Net Working Capital: kr0.04
GF Value™: kr0.28 vs. price of kr1.00 (257.1% above fair value)
No single metric tells the full story. See the NGM:LAIR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
LightAir AB is engaged in manufacturing and selling of air purifiers used for different industrial purposes such as traffic pollution, pet allergen, industrial pollution, smoke, and others. Its Air purifiers products include IonFlow Signature, IonFlow Evolution, IonFlow Style, IonFlow Surface, and others. The company distributes its products in Europe, Asia, and North America.
31GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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