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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 Beijing Gehua CATV Network Co's Net-Net Working Capital or its related term are showing as below:
SHSE:600037's Price-to-Net-Net-Working-Capital is ranked better than 79.73% of 375
companies
in the Media - Diversified industry
Industry Median: 4.42
vs SHSE:600037: 1.70
Beijing Gehua CATV Network Co (SHSE:600037) 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.
Beijing Gehua CATV Network Co Net-Net Working Capital Related Terms
Beijing Gehua CATV Network Co 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.
Beijing Gehua CATV Network Co Net-Net Working Capital Chart
SHSE:600037 vs NXST: Net-Net Working Capital Comparison
For the Broadcasting subindustry, Beijing Gehua CATV Network Co'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.
Beijing Gehua CATV Network Co Price-to-Net-Net-Working-Capital vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Beijing Gehua CATV Network Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Beijing Gehua CATV Network Co'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 ¥4.01 mean?
Beijing Gehua CATV Network Co (SHSE:600037) has a Net-Net Working Capital of ¥4.01 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 Beijing Gehua CATV Network Co According to the industry distribution chart, Beijing Gehua CATV Network Co ranks #76 out of 375 companies in the Media - Diversified industry, placing it in the top 20.3%.
Is Beijing Gehua CATV Network Co's Net-Net Working Capital too high?
Beijing Gehua CATV Network Co's current Net-Net Working Capital is ¥4.01. Based on the distribution chart, Beijing Gehua CATV Network Co ranks #76 out of 375 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, Beijing Gehua CATV Network Co has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Beijing Gehua CATV Network Co's Net-Net Working Capital compare to NXST?
According to the Media - Diversified industry distribution chart, Beijing Gehua CATV Network Co ranks #76 out of 375 companies for Net-Net Working Capital. This places Beijing Gehua CATV Network Co in the top 20% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 4.42. 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 Media - Diversified company?
The median Net-Net Working Capital among Media - Diversified companies is 4.42, based on 375 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 Beijing Gehua CATV Network Co For the Media - Diversified industry, the median Net-Net Working Capital is 4.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Beijing Gehua CATV Network Co's current Net-Net Working Capital is ¥4.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Beijing Gehua CATV Network Co stock overvalued right now?
Based on GuruFocus' analysis, Beijing Gehua CATV Network Co (SHSE:600037) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥7.79, compared to a current price of ¥6.87 — trading 11.8% below its estimated fair value. The current Net-Net Working Capital is ¥4.01. Beijing Gehua CATV Network Co's overall GF Score™ is 64/100 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 Beijing Gehua CATV Network Co (SHSE:600037), the current Net-Net Working Capital is ¥4.01 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 Beijing Gehua CATV Network Co (SHSE:600037) Overvalued in 2026?
Based on GuruFocus' analysis, Beijing Gehua CATV Network Co stock appears to be undervalued.
The current stock price of ¥6.87 is trading 11.8% below its estimated GF Value™ of ¥7.79.
GuruFocus considers Beijing Gehua CATV Network Co to be Modestly Undervalued.
Key valuation signals for SHSE:600037:
Net-Net Working Capital: ¥4.01
GF Value™: ¥7.79 vs. price of ¥6.87 (11.8% below fair value)
No single metric tells the full story. See the SHSE:600037 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Beijing Gehua CATV Network Co Ltd is engaged in the development and maintenance of radio and television networks. It is involved in the transfer and transmission of radio and television programs, video on demand, network information service business, internet access services based on cable television networks, internet data transmission value-added services, domestic IP telephony services, and cable television advertising design, production, and distribution services. The service scope covers cities, districts, streets, communities and other levels, covering education, finance, medical care, environmental protection, transportation, commerce, safety supervision and other fields.
64GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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