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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.
Spectra Products's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $0.08.
The industry rank for Spectra Products's Net-Net Working Capital or its related term are showing as below:
SPKTF's Price-to-Net-Net-Working-Capital is ranked better than 86.2% of 384
companies
in the Vehicles & Parts industry
Industry Median: 7.6
vs SPKTF: 2.00
Spectra Products (OTCPK:SPKTF) 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.
Spectra Products Net-Net Working Capital Related Terms
Spectra Products Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Spectra Products'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.
SPKTF vs ORLY, AZO, GPC: Net-Net Working Capital Comparison
For the Auto Parts subindustry, Spectra Products'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.
Spectra Products Price-to-Net-Net-Working-Capital vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Spectra Products's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Spectra Products'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 $0.08 mean?
Spectra Products (SPKTF) has a Net-Net Working Capital of $0.08 as of Dec. 2025. 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 Spectra Products According to the industry distribution chart, Spectra Products ranks #53 out of 384 companies in the Vehicles & Parts industry, placing it in the top 13.8%.
Is Spectra Products' Net-Net Working Capital too high?
Spectra Products' current Net-Net Working Capital is $0.08. The Vehicles & Parts industry median Net-Net Working Capital is 7.60. Spectra Products' value of $0.08 is 98.9% below this industry median. Based on the distribution chart, Spectra Products ranks #53 out of 384 companies in the Vehicles & Parts industry, which is in the top quartile — a strong position relative to peers. Overall, Spectra Products has a GF Score™ of 49/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Spectra Products' Net-Net Working Capital compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Spectra Products ranks #53 out of 384 companies for Net-Net Working Capital. This places Spectra Products in the top 14% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 7.60. Spectra Products' value of $0.08 is 98.9% 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 Vehicles & Parts company?
The median Net-Net Working Capital among Vehicles & Parts companies is 7.60, based on 384 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. Spectra Products's current Net-Net Working Capital of $0.08 is 98.9% 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 Spectra Products For the Vehicles & Parts industry, the median Net-Net Working Capital is 7.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spectra Products's current Net-Net Working Capital is $0.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spectra Products stock overvalued right now?
Based on GuruFocus' analysis, Spectra Products (SPKTF) is currently considered Fairly Valued. The stock's GF Value™ is $0.02, compared to a current price of $0.02 — trading right at its estimated fair value. The current Net-Net Working Capital is $0.08 and 98.9% below the Vehicles & Parts industry median of 7.60. Spectra Products' overall GF Score™ is 49/100 with 2 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 Spectra Products (SPKTF), the current Net-Net Working Capital is $0.08 as of Dec. 2025. 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 Spectra Products (SPKTF) Overvalued in 2026?
Based on GuruFocus' analysis, Spectra Products stock appears to be undervalued.
The current stock price of $0.02 is trading 0% below its estimated GF Value™ of $0.02.
GuruFocus considers Spectra Products to be Fairly Valued.
Key valuation signals for SPKTF:
Net-Net Working Capital: $0.08
GF Value™: $0.02 vs. price of $0.02 (0% below fair value)
Industry Position: 98.9% below the Vehicles & Parts median (#53 of 384)
No single metric tells the full story. See the SPKTF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spectra Products Inc is a company engaged in manufacturing and supplying safety and productivity enhancement products to the bus and truck transportation industry. The operating segment of the company is Bus and Truck Transportation Safety Equipment. It manufactures and markets brake and wheel-end monitoring equipment as an after-market product through transportation dealers, distributors and direct sales to fleet operators. Geographically, it generates the majority of its revenue from the United States.
49GF Score
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