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Thai BeverageTBVPF 60 Net-Net Working Capital is $-0.35 as of Mar. 2026. GuruFocus rates TBVPF with a GF Score™ of 60/100 and a GF Value™ of $0.38 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 67 Beverages - Alcoholic companies, Thai Beverage ranks worse than 1492535.82% on this metric.
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.
Thai Beverage's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $-0.35.
The industry rank for Thai Beverage's Net-Net Working Capital or its related term are showing as below:
TBVPF's Price-to-Net-Net-Working-Capital is not ranked *
in the Beverages - Alcoholic industry.
Industry Median: 7.63 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Thai Beverage (OTCPK:TBVPF) 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.
Thai Beverage Net-Net Working Capital Related Terms
Thai Beverage Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Thai Beverage'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.
For the Beverages - Wineries & Distilleries subindustry, Thai Beverage'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.
Thai Beverage Price-to-Net-Net-Working-Capital vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Thai Beverage's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Thai Beverage'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 $-0.35 mean?
Thai Beverage (TBVPF) has a Net-Net Working Capital of $-0.35 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 Thai Beverage According to the industry distribution chart, Thai Beverage ranks #999999 out of 67 companies in the Beverages - Alcoholic industry.
Is Thai Beverage's Net-Net Working Capital too high?
Thai Beverage's current Net-Net Working Capital is $-0.35. Based on the distribution chart, Thai Beverage ranks #999999 out of 67 companies in the Beverages - Alcoholic industry, which is in the bottom quartile relative to peers. Overall, Thai Beverage has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thai Beverage's Net-Net Working Capital compare to BF.B?
According to the Beverages - Alcoholic industry distribution chart, Thai Beverage ranks #999999 out of 67 companies for Net-Net Working Capital. This places Thai Beverage in the lower half of its industry. The industry median Net-Net Working Capital is 7.63. 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 Beverages - Alcoholic company?
The median Net-Net Working Capital among Beverages - Alcoholic companies is 7.63, based on 67 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 Thai Beverage For the Beverages - Alcoholic industry, the median Net-Net Working Capital is 7.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Beverage's current Net-Net Working Capital is $-0.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Beverage stock overvalued right now?
Based on GuruFocus' analysis, Thai Beverage (TBVPF) is currently considered Modestly Undervalued. The stock's GF Value™ is $0.38, compared to a current price of $0.34 — trading 9.4% below its estimated fair value. The current Net-Net Working Capital is $-0.35. Thai Beverage's overall GF Score™ is 60/100 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 Thai Beverage (TBVPF), the current Net-Net Working Capital is $-0.35 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 Thai Beverage (TBVPF) Overvalued in 2026?
Based on GuruFocus' analysis, Thai Beverage stock appears to be undervalued.
The current stock price of $0.34 is trading 9.4% below its estimated GF Value™ of $0.38.
GuruFocus considers Thai Beverage to be Modestly Undervalued.
Key valuation signals for TBVPF:
Net-Net Working Capital: $-0.35
GF Value™: $0.38 vs. price of $0.34 (9.4% below fair value)
No single metric tells the full story. See the TBVPF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thai Beverage PLC is a Thailand-based company engaged in producing and distributing alcoholic and non-alcoholic beverages and food. The company's operating segments include Spirits; production and sales of branded spirits products and soda. Beer: production and sales of raw materials, branded beer products, Chang soda and Chang water. Non-alcoholic beverages: production and sales of branded water, ready-to-drink coffee, energy drink, green tea, fruit flavored drinks and dairy products. Food: restaurants and distribution of food and beverages; and Others: publishing and printing. Key revenue is generated from Beer. It operates in Thailand, which generates the majority of revenue, Vietnam, Malaysia, Myanmar, Singapore and others.
60GF Score
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