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NeurogeneNGNE -1.80%12 Net-Net Working Capital is $13.95 as of Mar. 2026. GuruFocus rates NGNE with a GF Score™ of 12/100. The stock has 3 warning signs investors should review. Among 857 Biotechnology companies, Neurogene ranks better than 73.51% 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.
Neurogene's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $13.95.
The industry rank for Neurogene's Net-Net Working Capital or its related term are showing as below:
NGNE's Price-to-Net-Net-Working-Capital is ranked better than 73.51% of 857
companies
in the Biotechnology industry
Industry Median: 5.29
vs NGNE: 2.50
Neurogene (NAS:NGNE) 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.
Neurogene Net-Net Working Capital Related Terms
Neurogene Net-Net Working Capital Historical Data
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The historical data trend for Neurogene'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.
NGNE vs STRO, OCGN, CBIO: Net-Net Working Capital Comparison
For the Biotechnology subindustry, Neurogene'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.
Neurogene Price-to-Net-Net-Working-Capital vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Neurogene's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Neurogene'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 $13.95 mean?
Neurogene (NGNE) has a Net-Net Working Capital of $13.95 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 Neurogene According to the industry distribution chart, Neurogene ranks #227 out of 857 companies in the Biotechnology industry, placing it in the top 26.5%.
Is Neurogene's Net-Net Working Capital too high?
Neurogene's current Net-Net Working Capital is $13.95. The Biotechnology industry median Net-Net Working Capital is 5.29. Neurogene's value of $13.95 is 163.7% above this industry median. Based on the distribution chart, Neurogene ranks #227 out of 857 companies in the Biotechnology industry, which is above the industry midpoint. Overall, Neurogene has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Neurogene's Net-Net Working Capital compare to STRO and OCGN?
According to the Biotechnology industry distribution chart, Neurogene ranks #227 out of 857 companies for Net-Net Working Capital. This puts Neurogene in the upper half of its industry. The industry median Net-Net Working Capital is 5.29. Neurogene's value of $13.95 is 163.7% above this benchmark. 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 Biotechnology company?
The median Net-Net Working Capital among Biotechnology companies is 5.29, based on 857 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. Neurogene's current Net-Net Working Capital of $13.95 is 163.7% above the industry median. 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 Neurogene For the Biotechnology industry, the median Net-Net Working Capital is 5.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Neurogene's current Net-Net Working Capital is $13.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Neurogene stock overvalued right now?
Neurogene (NGNE) has a current Net-Net Working Capital of $13.95. The current Net-Net Working Capital is $13.95 and 163.7% above the Biotechnology industry median of 5.29. Neurogene's overall GF Score™ is 12/100 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 Neurogene (NGNE), the current Net-Net Working Capital is $13.95 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.
Neurogene Inc is a clinical-stage biotechnology company committed to overcoming the limitations of neurological diseases into treatable conditions, by harnessing its proprietary transgene regulation technology, EXACT(Expression Attenuation via Construct Tuning). It is building a differentiated product portfolio of genetic medicines for rare neurological diseases with high unmet needs. The drug candidates in the company's product pipeline include NGN-401, which is in development for the treatment of Rett syndrome, using its EXACT platform, and NGN-101, a non-EXACT, conventional gene therapy development candidate for the treatment of CLN5 Batten disease, designed to deliver the CLN5 gene and packaged in an AAV9 capsid.
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