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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 Swedish Orphan Biovitrum AB's Net-Net Working Capital or its related term are showing as below:
SWOBY's Price-to-Net-Net-Working-Capital is not ranked *
in the Drug Manufacturers industry.
Industry Median: 7.85 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Swedish Orphan Biovitrum AB (OTCPK:SWOBY) 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.
Swedish Orphan Biovitrum AB Net-Net Working Capital Related Terms
Swedish Orphan Biovitrum AB 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.
Swedish Orphan Biovitrum AB Net-Net Working Capital Chart
For the Drug Manufacturers - Specialty & Generic subindustry, Swedish Orphan Biovitrum AB'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.
Swedish Orphan Biovitrum AB Price-to-Net-Net-Working-Capital vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Swedish Orphan Biovitrum AB's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Swedish Orphan Biovitrum AB'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 $-4.65 mean?
Swedish Orphan Biovitrum AB (SWOBY) has a Net-Net Working Capital of $-4.65 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 Swedish Orphan Biovitrum AB According to the industry distribution chart, Swedish Orphan Biovitrum AB ranks #999999 out of 413 companies in the Drug Manufacturers industry.
Is Swedish Orphan Biovitrum AB's Net-Net Working Capital too high?
Swedish Orphan Biovitrum AB's current Net-Net Working Capital is $-4.65. Based on the distribution chart, Swedish Orphan Biovitrum AB ranks #999999 out of 413 companies in the Drug Manufacturers industry, which is in the bottom quartile relative to peers. Overall, Swedish Orphan Biovitrum AB has a GF Score™ of 67/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Swedish Orphan Biovitrum AB's Net-Net Working Capital compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Swedish Orphan Biovitrum AB ranks #999999 out of 413 companies for Net-Net Working Capital. This places Swedish Orphan Biovitrum AB in the lower half of its industry. The industry median Net-Net Working Capital is 7.85. 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 Drug Manufacturers company?
The median Net-Net Working Capital among Drug Manufacturers companies is 7.85, based on 413 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 Swedish Orphan Biovitrum AB For the Drug Manufacturers industry, the median Net-Net Working Capital is 7.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Swedish Orphan Biovitrum AB's current Net-Net Working Capital is $-4.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Swedish Orphan Biovitrum AB stock overvalued right now?
Based on GuruFocus' analysis, Swedish Orphan Biovitrum AB (SWOBY) is currently considered Modestly Overvalued. The stock's GF Value™ is $18.40, compared to a current price of $23.50 — trading 27.7% above its estimated fair value. The current Net-Net Working Capital is $-4.65. Swedish Orphan Biovitrum AB's overall GF Score™ is 67/100 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 Swedish Orphan Biovitrum AB (SWOBY), the current Net-Net Working Capital is $-4.65 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 Swedish Orphan Biovitrum AB (SWOBY) Overvalued in 2026?
Based on GuruFocus' analysis, Swedish Orphan Biovitrum AB stock appears to be overvalued.
The current stock price of $23.50 is trading 27.7% above its estimated GF Value™ of $18.40.
GuruFocus considers Swedish Orphan Biovitrum AB to be Modestly Overvalued.
Key valuation signals for SWOBY:
Net-Net Working Capital: $-4.65
GF Value™: $18.40 vs. price of $23.50 (27.7% above fair value)
No single metric tells the full story. See the SWOBY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Swedish Orphan Biovitrum, or Sobi, focuses on rare diseases, primarily in hematology and immunology. Biovitrum started with experience in studying recombinant proteins such as hemophilia factors, and partnered with Syntonix (now part of Sanofi) in 2006 on long-acting hemophilia factor replacement programs. Biovitrum acquired Orfadin and a partnered product business with the acquisition of Swedish Orphan. Sobi launched hemophilia products Alprolix and Eloctate in Europe in 2016, and Altuvoct in 2024. Sobi has been building its immunology pipeline (rare-disease drug Gamifant, US rights to RSV antibodies Synagis and Beyfortus, gout drugs, complement drug Aspaveli) and a broader hematology pipeline (thrombocytopenia drug Doptelet, blood cancer drug Zynlonta, myelofibrosis drug Vonjo).
67GF Score
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