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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.
Borgestad ASA's Net-Net Working Capital for the quarter that ended in Mar. 2026 was kr-12.20.
The industry rank for Borgestad ASA's Net-Net Working Capital or its related term are showing as below:
OSL:BOR's Price-to-Net-Net-Working-Capital is not ranked *
in the Building Materials industry.
Industry Median: 7.29 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Borgestad ASA (OSL:BOR) 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.
Borgestad ASA Net-Net Working Capital Related Terms
Borgestad ASA Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Borgestad ASA'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.
OSL:BOR vs CRH, VMC, MLM: Net-Net Working Capital Comparison
For the Building Materials subindustry, Borgestad ASA'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.
Borgestad ASA Price-to-Net-Net-Working-Capital vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Borgestad ASA's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Borgestad ASA'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 kr-12.20 mean?
Borgestad ASA (OSL:BOR) has a Net-Net Working Capital of kr-12.20 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 Borgestad ASA According to the industry distribution chart, Borgestad ASA ranks #999999 out of 103 companies in the Building Materials industry.
Is Borgestad ASA's Net-Net Working Capital too high?
Borgestad ASA's current Net-Net Working Capital is kr-12.20. Based on the distribution chart, Borgestad ASA ranks #999999 out of 103 companies in the Building Materials industry, which is in the bottom quartile relative to peers. Overall, Borgestad ASA has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Borgestad ASA's Net-Net Working Capital compare to CRH and VMC?
According to the Building Materials industry distribution chart, Borgestad ASA ranks #999999 out of 103 companies for Net-Net Working Capital. This places Borgestad ASA in the lower half of its industry. The industry median Net-Net Working Capital is 7.29. 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 Building Materials company?
The median Net-Net Working Capital among Building Materials companies is 7.29, based on 103 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 Borgestad ASA For the Building Materials industry, the median Net-Net Working Capital is 7.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Borgestad ASA's current Net-Net Working Capital is kr-12.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Borgestad ASA stock overvalued right now?
Based on GuruFocus' analysis, Borgestad ASA (OSL:BOR) is currently considered Fairly Valued. The stock's GF Value™ is kr16.24, compared to a current price of kr15.90 — trading 2.1% below its estimated fair value. The current Net-Net Working Capital is kr-12.20. Borgestad ASA's overall GF Score™ is 63/100 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 Borgestad ASA (OSL:BOR), the current Net-Net Working Capital is kr-12.20 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 Borgestad ASA (OSL:BOR) Overvalued in 2026?
Based on GuruFocus' analysis, Borgestad ASA stock appears to be undervalued.
The current stock price of kr15.90 is trading 2.1% below its estimated GF Value™ of kr16.24.
GuruFocus considers Borgestad ASA to be Fairly Valued.
Key valuation signals for OSL:BOR:
Net-Net Working Capital: kr-12.20
GF Value™: kr16.24 vs. price of kr15.90 (2.1% below fair value)
No single metric tells the full story. See the OSL:BOR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Borgestad ASA is an investment company engaged in the real estate and refractory businesses. The Group has three operating segments: Real Estate, Refractory, and Other Activities. The Real Estate segment consists mainly of the Agora Bytom shopping center in Bytom, Poland. The Refractory segment develops, manufactures, and delivers refractory products, installations, and concept solutions to industrial customers through the Hoganas Borgestad Group. Its refractory materials are used to protect industrial production equipment exposed to high temperatures. The Other Activities segment includes operations in Borgestad ASA and its holding companies. Geographically, the company derives key revenue from Sweden, followed by Norway, Finland, and other regions.
63GF Score
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