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Tsingtao Brewery CoTSGTY 77 Net-Net Working Capital is $1.76 as of Mar. 2026. GuruFocus rates TSGTY with a GF Score™ of 77/100 and a GF Value™ of $36.79 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 67 Beverages - Alcoholic companies, Tsingtao Brewery Co ranks worse than 76.12% 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.
Tsingtao Brewery Co's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $1.76.
The industry rank for Tsingtao Brewery Co's Net-Net Working Capital or its related term are showing as below:
TSGTY's Price-to-Net-Net-Working-Capital is ranked worse than 76.12% of 67
companies
in the Beverages - Alcoholic industry
Industry Median: 7.88
vs TSGTY: 22.73
Tsingtao Brewery Co (OTCPK:TSGTY) 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.
Tsingtao Brewery Co Net-Net Working Capital Related Terms
Tsingtao Brewery Co Net-Net Working Capital Historical Data
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The historical data trend for Tsingtao Brewery Co'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.
TSGTY vs BUD, STZ: Net-Net Working Capital Comparison
For the Beverages - Brewers subindustry, Tsingtao Brewery 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.
Tsingtao Brewery Co Price-to-Net-Net-Working-Capital vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Tsingtao Brewery Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Tsingtao Brewery 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 $1.76 mean?
Tsingtao Brewery Co (TSGTY) has a Net-Net Working Capital of $1.76 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 Tsingtao Brewery Co According to the industry distribution chart, Tsingtao Brewery Co ranks #51 out of 67 companies in the Beverages - Alcoholic industry, placing it in the top 76.1%.
Is Tsingtao Brewery Co's Net-Net Working Capital too high?
Tsingtao Brewery Co's current Net-Net Working Capital is $1.76. The Beverages - Alcoholic industry median Net-Net Working Capital is 7.88. Tsingtao Brewery Co's value of $1.76 is 77.7% below this industry median. Based on the distribution chart, Tsingtao Brewery Co ranks #51 out of 67 companies in the Beverages - Alcoholic industry, which is in the bottom quartile relative to peers. Overall, Tsingtao Brewery Co has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tsingtao Brewery Co's Net-Net Working Capital compare to BUD and STZ?
According to the Beverages - Alcoholic industry distribution chart, Tsingtao Brewery Co ranks #51 out of 67 companies for Net-Net Working Capital. This places Tsingtao Brewery Co in the lower half of its industry. The industry median Net-Net Working Capital is 7.88. Tsingtao Brewery Co's value of $1.76 is 77.7% 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 Beverages - Alcoholic company?
The median Net-Net Working Capital among Beverages - Alcoholic companies is 7.88, 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. Tsingtao Brewery Co's current Net-Net Working Capital of $1.76 is 77.7% 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 Tsingtao Brewery Co For the Beverages - Alcoholic industry, the median Net-Net Working Capital is 7.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tsingtao Brewery Co's current Net-Net Working Capital is $1.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tsingtao Brewery Co stock overvalued right now?
Based on GuruFocus' analysis, Tsingtao Brewery Co (TSGTY) is currently considered Modestly Undervalued. The stock's GF Value™ is $36.79, compared to a current price of $28.41 — trading 22.8% below its estimated fair value. The current Net-Net Working Capital is $1.76 and 77.7% below the Beverages - Alcoholic industry median of 7.88. Tsingtao Brewery Co's overall GF Score™ is 77/100 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 Tsingtao Brewery Co (TSGTY), the current Net-Net Working Capital is $1.76 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 Tsingtao Brewery Co (TSGTY) Overvalued in 2026?
Based on GuruFocus' analysis, Tsingtao Brewery Co stock appears to be undervalued.
The current stock price of $28.41 is trading 22.8% below its estimated GF Value™ of $36.79.
GuruFocus considers Tsingtao Brewery Co to be Modestly Undervalued.
Key valuation signals for TSGTY:
Net-Net Working Capital: $1.76
GF Value™: $36.79 vs. price of $28.41 (22.8% below fair value)
Industry Position: 77.7% below the Beverages - Alcoholic median (#51 of 67)
No single metric tells the full story. See the TSGTY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
With over 100 years of history, Tsingtao Brewery has become one of the leading brewers in China with its core Tsingtao brand. The company commands a dominant position in its core market, Shandong province, which contributed close to 60% of its revenue and net profit in 2024. Unlike other major brewers, Tsingtao Brewery's brand umbrellas consist entirely of domestic brands. The Tsingtao brand has a mid-range to high-end market positioning and contributed over half of its volume whereas the mass market Laoshan brand targets the mainstream segment, with a declining volume mix as the company sought to premiumize its portfolio.
77GF Score
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