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.
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.
NTIC's Price-to-Net-Net-Working-Capital is not ranked *
in the Chemicals industry.
Industry Median: 7.925 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Northern Technologies International (NAS:NTIC) 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.
Northern Technologies International Net-Net Working Capital Related Terms
Northern Technologies International 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.
Northern Technologies International Net-Net Working Capital Chart
NTIC vs FSI, KBLB, FEAM: Net-Net Working Capital Comparison
For the Specialty Chemicals subindustry, Northern Technologies International'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.
Northern Technologies International Price-to-Net-Net-Working-Capital vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Northern Technologies International's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Northern Technologies International'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 $-0.54 mean?
Northern Technologies International (NTIC) has a Net-Net Working Capital of $-0.54 as of May. 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 Northern Technologies International According to the industry distribution chart, Northern Technologies International ranks #999999 out of 588 companies in the Chemicals industry.
Is Northern Technologies International's Net-Net Working Capital too high?
Northern Technologies International's current Net-Net Working Capital is $-0.54. Based on the distribution chart, Northern Technologies International ranks #999999 out of 588 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Northern Technologies International has a GF Score™ of 69/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Northern Technologies International's Net-Net Working Capital compare to FSI and KBLB?
According to the Chemicals industry distribution chart, Northern Technologies International ranks #999999 out of 588 companies for Net-Net Working Capital. This places Northern Technologies International in the lower half of its industry. The industry median Net-Net Working Capital is 7.93. 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 Chemicals company?
The median Net-Net Working Capital among Chemicals companies is 7.93, based on 588 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 Northern Technologies International For the Chemicals industry, the median Net-Net Working Capital is 7.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northern Technologies International's current Net-Net Working Capital is $-0.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northern Technologies International stock overvalued right now?
Based on GuruFocus' analysis, Northern Technologies International (NTIC) is currently considered Possible Value Trap. The stock's GF Value™ is $13.27, compared to a current price of $8.02 — trading 39.6% below its estimated fair value. The current Net-Net Working Capital is $-0.54. Northern Technologies International's overall GF Score™ is 69/100 with 5 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 Northern Technologies International (NTIC), the current Net-Net Working Capital is $-0.54 as of May. 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 Northern Technologies International (NTIC) Overvalued in 2026?
Based on GuruFocus' analysis, Northern Technologies International stock appears to be undervalued.
The current stock price of $8.02 is trading 39.6% below its estimated GF Value™ of $13.27.
GuruFocus considers Northern Technologies International to be Possible Value Trap.
Key valuation signals for NTIC:
Net-Net Working Capital: $-0.54
GF Value™: $13.27 vs. price of $8.02 (39.6% below fair value)
No single metric tells the full story. See the NTIC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northern Technologies International Corp is a United States-based firm that develops and markets proprietary, environmentally beneficial products and services world wide either directly or through a network of joint ventures, distributors, and agents. It operates through two segments, which include ZERUST products and services and Nature-Tec products. Its main business is providing corrosion prevention solutions that are marketed under the ZERUST brand. The company also sells a portfolio of bio-based and biodegradable (compostable) polymer resin compounds and finished products marketed under the Nature-Tec brand. The ZERUST brand generates a vast majority of the revenue for the company. The company generates the majority of its revenue in the United States.
69GF Score
Get the complete analysis for NTIC
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
NTIC has been successfully added to your 
