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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.
SSMR's Price-to-Net-Net-Working-Capital is ranked worse than 97.08% of 1132
companies
in the Metals & Mining industry
Industry Median: 6.9
vs SSMR: 77.88
Sunshine Silver Mining & Refining Co (NYSE:SSMR) 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.
Sunshine Silver Mining & Refining Co Net-Net Working Capital Related Terms
Sunshine Silver Mining & Refining 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.
Sunshine Silver Mining & Refining Co Net-Net Working Capital Chart
Sunshine Silver Mining & Refining Co Annual Data
Trend
Dec24
Dec25
Net-Net Working Capital
-0.31
0.17
Sunshine Silver Mining & Refining Co Semi-Annual Data
Dec24
Dec25
Net-Net Working Capital
-0.31
0.17
SSMR vs TMC, NVA, NEXA: Net-Net Working Capital Comparison
For the Other Industrial Metals & Mining subindustry, Sunshine Silver Mining & Refining 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.
Sunshine Silver Mining & Refining Co Price-to-Net-Net-Working-Capital vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Sunshine Silver Mining & Refining Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Sunshine Silver Mining & Refining 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 $0.17 mean?
Sunshine Silver Mining & Refining Co (SSMR) has a Net-Net Working Capital of $0.17 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 Sunshine Silver Mining & Refining Co According to the industry distribution chart, Sunshine Silver Mining & Refining Co ranks #1099 out of 1132 companies in the Metals & Mining industry, placing it in the top 97.1%.
Is Sunshine Silver Mining & Refining Co's Net-Net Working Capital too high?
Sunshine Silver Mining & Refining Co's current Net-Net Working Capital is $0.17. The Metals & Mining industry median Net-Net Working Capital is 6.90. Sunshine Silver Mining & Refining Co's value of $0.17 is 97.5% below this industry median. Based on the distribution chart, Sunshine Silver Mining & Refining Co ranks #1099 out of 1132 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Sunshine Silver Mining & Refining Co has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.
How does Sunshine Silver Mining & Refining Co's Net-Net Working Capital compare to TMC and NVA?
According to the Metals & Mining industry distribution chart, Sunshine Silver Mining & Refining Co ranks #1099 out of 1132 companies for Net-Net Working Capital. This places Sunshine Silver Mining & Refining Co in the lower half of its industry. The industry median Net-Net Working Capital is 6.90. Sunshine Silver Mining & Refining Co's value of $0.17 is 97.5% 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 Metals & Mining company?
The median Net-Net Working Capital among Metals & Mining companies is 6.90, based on 1,132 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. Sunshine Silver Mining & Refining Co's current Net-Net Working Capital of $0.17 is 97.5% 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 Sunshine Silver Mining & Refining Co For the Metals & Mining industry, the median Net-Net Working Capital is 6.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sunshine Silver Mining & Refining Co's current Net-Net Working Capital is $0.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sunshine Silver Mining & Refining Co stock overvalued right now?
Sunshine Silver Mining & Refining Co (SSMR) has a current Net-Net Working Capital of $0.17. The current Net-Net Working Capital is $0.17 and 97.5% below the Metals & Mining industry median of 6.90. Sunshine Silver Mining & Refining Co's overall GF Score™ is 11/100. 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 Sunshine Silver Mining & Refining Co (SSMR), the current Net-Net Working Capital is $0.17 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.
Sunshine Silver Mining & Refining Co Business Description
Sunshine Silver Mining & Refining Co is a mining exploration and development company. It owns and develops the Sunshine Mine, the Sunshine Silver/Copper Refinery, and related facilities, including the Sunshine Tailings Storage Facility and historical antimony refinery grounds. The Sunshine Mine is a permitted past-producing silver mine in the United States that has historically produced silver, antimony, copper, and lead.
11GF Score
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