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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.
Pioneer Power Solutions's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $1.16.
The industry rank for Pioneer Power Solutions's Net-Net Working Capital or its related term are showing as below:
PPSI's Price-to-Net-Net-Working-Capital is ranked better than 84.42% of 1361
companies
in the Industrial Products industry
Industry Median: 7.74
vs PPSI: 2.56
Pioneer Power Solutions (NAS:PPSI) 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.
Pioneer Power Solutions Net-Net Working Capital Related Terms
Pioneer Power Solutions Net-Net Working Capital Historical Data
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The historical data trend for Pioneer Power Solutions'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.
Pioneer Power Solutions Net-Net Working Capital Chart
PPSI vs OESX, GWH, EPOW: Net-Net Working Capital Comparison
For the Electrical Equipment & Parts subindustry, Pioneer Power Solutions'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.
Pioneer Power Solutions Price-to-Net-Net-Working-Capital vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Pioneer Power Solutions's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Pioneer Power Solutions'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 $1.16 mean?
Pioneer Power Solutions (PPSI) has a Net-Net Working Capital of $1.16 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 Pioneer Power Solutions According to the industry distribution chart, Pioneer Power Solutions ranks #212 out of 1361 companies in the Industrial Products industry, placing it in the top 15.6%.
Is Pioneer Power Solutions' Net-Net Working Capital too high?
Pioneer Power Solutions' current Net-Net Working Capital is $1.16. The Industrial Products industry median Net-Net Working Capital is 7.74. Pioneer Power Solutions' value of $1.16 is 85% below this industry median. Based on the distribution chart, Pioneer Power Solutions ranks #212 out of 1361 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Pioneer Power Solutions has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Pioneer Power Solutions' Net-Net Working Capital compare to OESX and GWH?
According to the Industrial Products industry distribution chart, Pioneer Power Solutions ranks #212 out of 1361 companies for Net-Net Working Capital. This places Pioneer Power Solutions in the top 16% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 7.74. Pioneer Power Solutions' value of $1.16 is 85% 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 an Industrial Products company?
The median Net-Net Working Capital among Industrial Products companies is 7.74, based on 1,361 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. Pioneer Power Solutions's current Net-Net Working Capital of $1.16 is 85% 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 Pioneer Power Solutions For the Industrial Products industry, the median Net-Net Working Capital is 7.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pioneer Power Solutions's current Net-Net Working Capital is $1.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pioneer Power Solutions stock overvalued right now?
Based on GuruFocus' analysis, Pioneer Power Solutions (PPSI) is currently considered Modestly Undervalued. The stock's GF Value™ is $3.57, compared to a current price of $2.97 — trading 16.9% below its estimated fair value. The current Net-Net Working Capital is $1.16 and 85% below the Industrial Products industry median of 7.74. Pioneer Power Solutions' overall GF Score™ is 73/100 with 3 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 Pioneer Power Solutions (PPSI), the current Net-Net Working Capital is $1.16 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 Pioneer Power Solutions (PPSI) Overvalued in 2026?
Based on GuruFocus' analysis, Pioneer Power Solutions stock appears to be undervalued.
The current stock price of $2.97 is trading 16.9% below its estimated GF Value™ of $3.57.
GuruFocus considers Pioneer Power Solutions to be Modestly Undervalued.
Key valuation signals for PPSI:
Net-Net Working Capital: $1.16
GF Value™: $3.57 vs. price of $2.97 (16.9% below fair value)
Industry Position: 85% below the Industrial Products median (#212 of 1361)
No single metric tells the full story. See the PPSI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pioneer Power Solutions Inc designs, manufactures, integrates, services, and sells distributed energy resources, on-site and mobile power generation equipment, and a platform of mobile electric vehicle (EV) charging solutions. Its principal products and services include custom-engineered electrical transformers, switchgear and engine-generator sets and controls, complemented by a national field-service network to maintain and repair power generation assets. The Company launched two new product platforms namely, PRYMUS, a new, mobile on-site power system concentrating on customers with requirements of 1-10 megawatts of mobile power and PowerCore, a residential and small commercial based primary generator system integrating a DC fast charger into one solution.
73GF Score
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