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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.
The industry rank for NAPCO Security Technologies's Net-Net Working Capital or its related term are showing as below:
NSSC's Price-to-Net-Net-Working-Capital is ranked worse than 71.4% of 444
companies
in the Business Services industry
Industry Median: 5.525
vs NSSC: 11.44
NAPCO Security Technologies (NAS:NSSC) 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.
NAPCO Security Technologies Net-Net Working Capital Related Terms
NAPCO Security Technologies 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.
NAPCO Security Technologies Net-Net Working Capital Chart
NSSC vs EVLV, MG, CIX: Net-Net Working Capital Comparison
For the Security & Protection Services subindustry, NAPCO Security Technologies'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.
NAPCO Security Technologies Price-to-Net-Net-Working-Capital vs Business Services Industry
For the Business Services industry and Industrials sector, NAPCO Security Technologies's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where NAPCO Security Technologies'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 $3.33 mean?
NAPCO Security Technologies (NSSC) has a Net-Net Working Capital of $3.33 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 NAPCO Security Technologies According to the industry distribution chart, NAPCO Security Technologies ranks #317 out of 444 companies in the Business Services industry, placing it in the top 71.4%.
Is NAPCO Security Technologies' Net-Net Working Capital too high?
NAPCO Security Technologies' current Net-Net Working Capital is $3.33. The Business Services industry median Net-Net Working Capital is 5.53. NAPCO Security Technologies' value of $3.33 is 39.7% below this industry median. Based on the distribution chart, NAPCO Security Technologies ranks #317 out of 444 companies in the Business Services industry, which is below the industry midpoint. Overall, NAPCO Security Technologies has a GF Score™ of 99/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does NAPCO Security Technologies' Net-Net Working Capital compare to EVLV and MG?
According to the Business Services industry distribution chart, NAPCO Security Technologies ranks #317 out of 444 companies for Net-Net Working Capital. This places NAPCO Security Technologies in the lower half of its industry. The industry median Net-Net Working Capital is 5.53. NAPCO Security Technologies' value of $3.33 is 39.7% below 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 Business Services company?
The median Net-Net Working Capital among Business Services companies is 5.53, based on 444 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. NAPCO Security Technologies's current Net-Net Working Capital of $3.33 is 39.7% below 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 NAPCO Security Technologies For the Business Services industry, the median Net-Net Working Capital is 5.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NAPCO Security Technologies's current Net-Net Working Capital is $3.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NAPCO Security Technologies stock overvalued right now?
Based on GuruFocus' analysis, NAPCO Security Technologies (NSSC) is currently considered Modestly Undervalued. The stock's GF Value™ is $43.03, compared to a current price of $38.09 — trading 11.5% below its estimated fair value. The current Net-Net Working Capital is $3.33 and 39.7% below the Business Services industry median of 5.53. NAPCO Security Technologies' overall GF Score™ is 99/100. 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 NAPCO Security Technologies (NSSC), the current Net-Net Working Capital is $3.33 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 NAPCO Security Technologies (NSSC) Overvalued in 2026?
Based on GuruFocus' analysis, NAPCO Security Technologies stock appears to be undervalued.
The current stock price of $38.09 is trading 11.5% below its estimated GF Value™ of $43.03.
GuruFocus considers NAPCO Security Technologies to be Modestly Undervalued.
Key valuation signals for NSSC:
Net-Net Working Capital: $3.33
GF Value™: $43.03 vs. price of $38.09 (11.5% below fair value)
Industry Position: 39.7% below the Business Services median (#317 of 444)
No single metric tells the full story. See the NSSC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NAPCO Security Technologies Inc manufactures security products, encompassing access control systems, door-locking products, intrusion and fire alarm systems and video surveillance products. Its products are used for various applications which includes alarm systems like automatic communicators, combination control panels/digital communicators and digital keypad systems, fire alarm control panel and area detectors mainly used for commercial, residential, institutional, industrial and governmental uses. Geographically, the company derives a majority of its revenue from the United States.
99GF Score
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