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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.
Scorpio Tankers's Net-Net Working Capital for the quarter that ended in Jun. 2026 was $20.65.
The industry rank for Scorpio Tankers's Net-Net Working Capital or its related term are showing as below:
STNG's Price-to-Net-Net-Working-Capital is ranked better than 61.78% of 191
companies
in the Oil & Gas industry
Industry Median: 6.26
vs STNG: 3.84
Scorpio Tankers (NYSE:STNG) 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.
Scorpio Tankers Net-Net Working Capital Related Terms
Scorpio Tankers Net-Net Working Capital Historical Data
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The historical data trend for Scorpio Tankers'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.
STNG vs SUNC, KNTK, INSW: Net-Net Working Capital Comparison
For the Oil & Gas Midstream subindustry, Scorpio Tankers'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.
Scorpio Tankers Price-to-Net-Net-Working-Capital vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Scorpio Tankers's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Scorpio Tankers'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 $20.65 mean?
Scorpio Tankers (STNG) has a Net-Net Working Capital of $20.65 as of Jun. 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 Scorpio Tankers According to the industry distribution chart, Scorpio Tankers ranks #73 out of 191 companies in the Oil & Gas industry, placing it in the top 38.2%.
Is Scorpio Tankers' Net-Net Working Capital too high?
Scorpio Tankers' current Net-Net Working Capital is $20.65. The Oil & Gas industry median Net-Net Working Capital is 6.26. Scorpio Tankers' value of $20.65 is 229.9% above this industry median. Based on the distribution chart, Scorpio Tankers ranks #73 out of 191 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Scorpio Tankers has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Scorpio Tankers' Net-Net Working Capital compare to SUNC and KNTK?
According to the Oil & Gas industry distribution chart, Scorpio Tankers ranks #73 out of 191 companies for Net-Net Working Capital. This puts Scorpio Tankers in the upper half of its industry. The industry median Net-Net Working Capital is 6.26. Scorpio Tankers' value of $20.65 is 229.9% above 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 Oil & Gas company?
The median Net-Net Working Capital among Oil & Gas companies is 6.26, based on 191 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. Scorpio Tankers's current Net-Net Working Capital of $20.65 is 229.9% above 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 Scorpio Tankers For the Oil & Gas industry, the median Net-Net Working Capital is 6.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Scorpio Tankers's current Net-Net Working Capital is $20.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Scorpio Tankers stock overvalued right now?
Based on GuruFocus' analysis, Scorpio Tankers (STNG) is currently considered Modestly Overvalued. The stock's GF Value™ is $62.94, compared to a current price of $79.34 — trading 26.1% above its estimated fair value. The current Net-Net Working Capital is $20.65 and 229.9% above the Oil & Gas industry median of 6.26. Scorpio Tankers' overall GF Score™ is 68/100 with 6 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 Scorpio Tankers (STNG), the current Net-Net Working Capital is $20.65 as of Jun. 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 Scorpio Tankers (STNG) Overvalued in 2026?
Based on GuruFocus' analysis, Scorpio Tankers stock appears to be overvalued.
The current stock price of $79.34 is trading 26.1% above its estimated GF Value™ of $62.94.
GuruFocus considers Scorpio Tankers to be Modestly Overvalued.
Key valuation signals for STNG:
Net-Net Working Capital: $20.65
GF Value™: $62.94 vs. price of $79.34 (26.1% above fair value)
Industry Position: 229.9% above the Oil & Gas median (#73 of 191)
No single metric tells the full story. See the STNG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Scorpio Tankers Inc is a provider of marine transportation of petroleum products. It owned, lease financed, or chartered in vessels spanning three different vessel segments Handymax, MR, and LR2. The company's fleet of tankers is the eco-friendly, and newest fleet on the water hauling clean petroleum products. It provides seaborne transportation of crude oil and refined petroleum products. The company generates the majority of its revenue from LR2.
68GF Score
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