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Noble Roman'sNROM +6.86%31 Net-Net Working Capital is $-0.43 as of Jun. 2026. GuruFocus rates NROM with a GF Score™ of 31/100 and a GF Value™ of $0.35 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 47 Restaurants companies, Noble Roman's ranks worse than 2127657.45% 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.
Noble Roman's's Net-Net Working Capital for the quarter that ended in Jun. 2026 was $-0.43.
The industry rank for Noble Roman's's Net-Net Working Capital or its related term are showing as below:
NROM's Price-to-Net-Net-Working-Capital is not ranked *
in the Restaurants industry.
Industry Median: 13.72 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Noble Roman's (OTCPK:NROM) 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.
Noble Roman's Net-Net Working Capital Related Terms
Noble Roman's Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Noble Roman's'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.
NROM vs GTIM, HWH, MHGU: Net-Net Working Capital Comparison
For the Restaurants subindustry, Noble Roman's'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.
Noble Roman's Price-to-Net-Net-Working-Capital vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Noble Roman's's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Noble Roman's'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 $-0.43 mean?
Noble Roman's (NROM) has a Net-Net Working Capital of $-0.43 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 Noble Roman's According to the industry distribution chart, Noble Roman's ranks #999999 out of 47 companies in the Restaurants industry.
Is Noble Roman's' Net-Net Working Capital too high?
Noble Roman's' current Net-Net Working Capital is $-0.43. Based on the distribution chart, Noble Roman's ranks #999999 out of 47 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, Noble Roman's has a GF Score™ of 31/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Noble Roman's' Net-Net Working Capital compare to GTIM and HWH?
According to the Restaurants industry distribution chart, Noble Roman's ranks #999999 out of 47 companies for Net-Net Working Capital. This places Noble Roman's in the lower half of its industry. The industry median Net-Net Working Capital is 13.72. 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 Restaurants company?
The median Net-Net Working Capital among Restaurants companies is 13.72, based on 47 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 Noble Roman's For the Restaurants industry, the median Net-Net Working Capital is 13.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Noble Roman's's current Net-Net Working Capital is $-0.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Noble Roman's stock overvalued right now?
Based on GuruFocus' analysis, Noble Roman's (NROM) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.35, compared to a current price of $0.59 — trading 68.6% above its estimated fair value. The current Net-Net Working Capital is $-0.43. Noble Roman's' overall GF Score™ is 31/100 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 Noble Roman's (NROM), the current Net-Net Working Capital is $-0.43 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 Noble Roman's (NROM) Overvalued in 2026?
Based on GuruFocus' analysis, Noble Roman's stock appears to be overvalued.
The current stock price of $0.59 is trading 68.6% above its estimated GF Value™ of $0.35.
GuruFocus considers Noble Roman's to be Significantly Overvalued.
Key valuation signals for NROM:
Net-Net Working Capital: $-0.43
GF Value™: $0.35 vs. price of $0.59 (68.6% above fair value)
No single metric tells the full story. See the NROM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Noble Roman's Inc is a restaurant operator. It sells and services franchises and licenses and operates Company-owned stand-alone restaurants and non-traditional foodservice operations under the trade names Noble Roman's Craft Pizza & Pub, Noble Roman's Pizza, Noble Roman's Take-N-Bake, and Tuscano's Italian Style Subs. The Company has two reportable operating segments: Franchising - Consists of franchise royalties, franchise fee revenue, manufacturer and distributor allowances, equipment commissions, and related support activities; and Company-Owned Restaurants - Consists of the operations of Company-owned Craft Pizza & Pub locations and Company-operated non-traditional restaurant locations.
31GF Score
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