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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.
Oil-Dri of America's Net-Net Working Capital for the quarter that ended in Apr. 2026 was $1.55.
The industry rank for Oil-Dri of America's Net-Net Working Capital or its related term are showing as below:
ODC's Price-to-Net-Net-Working-Capital is ranked worse than 90.86% of 580
companies
in the Chemicals industry
Industry Median: 8.34
vs ODC: 58.03
Oil-Dri of America (NYSE:ODC) 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.
Oil-Dri of America Net-Net Working Capital Related Terms
Oil-Dri of America Net-Net Working Capital Historical Data
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The historical data trend for Oil-Dri of America'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.
ODC vs ECVT, STDN, SCL: Net-Net Working Capital Comparison
For the Specialty Chemicals subindustry, Oil-Dri of America'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.
Oil-Dri of America Price-to-Net-Net-Working-Capital vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Oil-Dri of America's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Oil-Dri of America'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 $1.55 mean?
Oil-Dri of America (ODC) has a Net-Net Working Capital of $1.55 as of Apr. 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 Oil-Dri of America According to the industry distribution chart, Oil-Dri of America ranks #527 out of 580 companies in the Chemicals industry, placing it in the top 90.9%.
Is Oil-Dri of America's Net-Net Working Capital too high?
Oil-Dri of America's current Net-Net Working Capital is $1.55. The Chemicals industry median Net-Net Working Capital is 8.34. Oil-Dri of America's value of $1.55 is 81.4% below this industry median. Based on the distribution chart, Oil-Dri of America ranks #527 out of 580 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Oil-Dri of America has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Oil-Dri of America's Net-Net Working Capital compare to ECVT and STDN?
According to the Chemicals industry distribution chart, Oil-Dri of America ranks #527 out of 580 companies for Net-Net Working Capital. This places Oil-Dri of America in the lower half of its industry. The industry median Net-Net Working Capital is 8.34. Oil-Dri of America's value of $1.55 is 81.4% 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 Chemicals company?
The median Net-Net Working Capital among Chemicals companies is 8.34, based on 580 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. Oil-Dri of America's current Net-Net Working Capital of $1.55 is 81.4% 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 Oil-Dri of America For the Chemicals industry, the median Net-Net Working Capital is 8.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Oil-Dri of America's current Net-Net Working Capital is $1.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Oil-Dri of America stock overvalued right now?
Based on GuruFocus' analysis, Oil-Dri of America (ODC) is currently considered Significantly Overvalued. The stock's GF Value™ is $44.32, compared to a current price of $89.94 — trading 102.9% above its estimated fair value. The current Net-Net Working Capital is $1.55 and 81.4% below the Chemicals industry median of 8.34. Oil-Dri of America's overall GF Score™ is 65/100. 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 Oil-Dri of America (ODC), the current Net-Net Working Capital is $1.55 as of Apr. 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 Oil-Dri of America (ODC) Overvalued in 2026?
Based on GuruFocus' analysis, Oil-Dri of America stock appears to be overvalued.
The current stock price of $89.94 is trading 102.9% above its estimated GF Value™ of $44.32.
GuruFocus considers Oil-Dri of America to be Significantly Overvalued.
Key valuation signals for ODC:
Net-Net Working Capital: $1.55
GF Value™: $44.32 vs. price of $89.94 (102.9% above fair value)
Industry Position: 81.4% below the Chemicals median (#527 of 580)
No single metric tells the full story. See the ODC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Oil-Dri Corp of America develops, manufactures, and markets sorbent products made predominantly from clay. Its absorbent offerings, which draw liquid up, include cat litter, floor products, toxin control substances for livestock, and agricultural chemical carriers. The company has two segments based on the different characteristics of two primary customer groups, namely the Retail and Wholesale Products Group, which derives maximum revenue, and the Business-to-Business Products Group. The company's products are sold under various brands such as Cat's Pride, Jonny Cat, Amlan, Agsorb, Verge, Pure-Flo, and Ultra-Clear.
65GF Score
Get the complete analysis for ODC
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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