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.
NIONIOIF 73 Net-Net Working Capital is $-4.92 as of Mar. 2026. GuruFocus rates NIOIF with a GF Score™ of 73/100 and a GF Value™ of $7.85 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 385 Vehicles & Parts companies, NIO ranks worse than 259740% 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.
NIO's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $-4.92.
The industry rank for NIO's Net-Net Working Capital or its related term are showing as below:
NIOIF's Price-to-Net-Net-Working-Capital is not ranked *
in the Vehicles & Parts industry.
Industry Median: 7.89 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
NIO (OTCPK:NIOIF) 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.
NIO Net-Net Working Capital Related Terms
NIO Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for NIO'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.
NIOIF vs LI, XPEV, VFS: Net-Net Working Capital Comparison
For the Auto Manufacturers subindustry, NIO'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.
NIO Price-to-Net-Net-Working-Capital vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, NIO's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where NIO'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 $-4.92 mean?
NIO (NIOIF) has a Net-Net Working Capital of $-4.92 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 NIO According to the industry distribution chart, NIO ranks #999999 out of 385 companies in the Vehicles & Parts industry.
Is NIO's Net-Net Working Capital too high?
NIO's current Net-Net Working Capital is $-4.92. Based on the distribution chart, NIO ranks #999999 out of 385 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, NIO has a GF Score™ of 73/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does NIO's Net-Net Working Capital compare to LI and XPEV?
According to the Vehicles & Parts industry distribution chart, NIO ranks #999999 out of 385 companies for Net-Net Working Capital. This places NIO in the lower half of its industry. The industry median Net-Net Working Capital is 7.89. 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 Vehicles & Parts company?
The median Net-Net Working Capital among Vehicles & Parts companies is 7.89, based on 385 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 NIO For the Vehicles & Parts industry, the median Net-Net Working Capital is 7.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NIO's current Net-Net Working Capital is $-4.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NIO stock overvalued right now?
Based on GuruFocus' analysis, NIO (NIOIF) is currently considered Possible Value Trap. The stock's GF Value™ is $7.85, compared to a current price of $5.20 — trading 33.8% below its estimated fair value. The current Net-Net Working Capital is $-4.92. NIO's overall GF Score™ is 73/100 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 NIO (NIOIF), the current Net-Net Working Capital is $-4.92 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 NIO (NIOIF) Overvalued in 2026?
Based on GuruFocus' analysis, NIO stock appears to be undervalued.
The current stock price of $5.20 is trading 33.8% below its estimated GF Value™ of $7.85.
GuruFocus considers NIO to be Possible Value Trap.
Key valuation signals for NIOIF:
Net-Net Working Capital: $-4.92
GF Value™: $7.85 vs. price of $5.20 (33.8% below fair value)
No single metric tells the full story. See the NIOIF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nio is a leading electric vehicle maker, targeting the premium segment. Founded in November 2014, Nio designs, develops, jointly manufactures, and sells premium smart electric vehicles. The company differentiates itself through continuous technological breakthroughs and innovations, such as battery swapping and autonomous driving. Nio launched its first model, its ES8 seven-seater electric SUV, in December 2017, and began deliveries in June 2018. Its current model portfolio includes midsize to large sedans and SUVs. It sold around 326,000 EVs in 2025, accounting for about 2% of China's passenger new energy vehicle market.
73GF Score
Get the complete analysis for NIOIF
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
NIOIF has been successfully added to your 
