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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.
NSE:APS's Price-to-Net-Net-Working-Capital is not ranked *
in the Semiconductors industry.
Industry Median: 12.08 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Australian Premium Solar (India) (NSE:APS) 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.
Australian Premium Solar (India) Net-Net Working Capital Related Terms
Australian Premium Solar (India) Net-Net Working Capital Historical Data
* 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.
Australian Premium Solar (India) Net-Net Working Capital Chart
Australian Premium Solar (India) Annual Data
Trend
Mar21
Mar22
Mar23
Mar24
Mar25
Net-Net Working Capital
-9.26
-7.40
-5.12
-0.95
-18.01
Australian Premium Solar (India) Semi-Annual Data
Mar21
Mar22
Mar23
Mar24
Mar25
Net-Net Working Capital
-9.26
-7.40
-5.12
-0.95
-18.01
NSE:APS vs FSLR, NXT, ENPH: Net-Net Working Capital Comparison
For the Solar subindustry, Australian Premium Solar (India)'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.
Australian Premium Solar (India) Price-to-Net-Net-Working-Capital vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Australian Premium Solar (India)'s Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Australian Premium Solar (India)'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 ₹-18.01 mean?
Australian Premium Solar (India) (NSE:APS) has a Net-Net Working Capital of ₹-18.01 as of Mar. 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 Australian Premium Solar (India) According to the industry distribution chart, Australian Premium Solar (India) ranks #999999 out of 512 companies in the Semiconductors industry.
Is Australian Premium Solar (India)'s Net-Net Working Capital too high?
Australian Premium Solar (India)'s current Net-Net Working Capital is ₹-18.01. Based on the distribution chart, Australian Premium Solar (India) ranks #999999 out of 512 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, Australian Premium Solar (India) has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Australian Premium Solar (India)'s Net-Net Working Capital compare to FSLR and NXT?
According to the Semiconductors industry distribution chart, Australian Premium Solar (India) ranks #999999 out of 512 companies for Net-Net Working Capital. This places Australian Premium Solar (India) in the lower half of its industry. The industry median Net-Net Working Capital is 12.08. 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 Semiconductors company?
The median Net-Net Working Capital among Semiconductors companies is 12.08, based on 512 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 Australian Premium Solar (India) For the Semiconductors industry, the median Net-Net Working Capital is 12.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Australian Premium Solar (India)'s current Net-Net Working Capital is ₹-18.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Australian Premium Solar (India) stock overvalued right now?
Australian Premium Solar (India) (NSE:APS) has a current Net-Net Working Capital of ₹-18.01. The current Net-Net Working Capital is ₹-18.01. Australian Premium Solar (India)'s overall GF Score™ is 19/100 with 1 warning sign 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 Australian Premium Solar (India) (NSE:APS), the current Net-Net Working Capital is ₹-18.01 as of Mar. 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.
Australian Premium Solar (India) Ltd is engaged in the manufacturing of solar panels and EPC services for solar systems. It manufactures two types of solar panels: (i) Monocrystalline Solar Panel; and (ii) N-Type TopCon. It also provides installation services for solar panels and solar pumps. The majority of the revenue is generated from the manufacturing of solar panels.
19GF Score
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