Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Black Swan GrapheneTSXV:SWAN 41 Net-Net Working Capital is C$0.13 as of Mar. 2026. GuruFocus rates TSXV:SWAN with a GF Score™ of 41/100. The stock has 1 warning sign investors should review. Among 588 Chemicals companies, Black Swan Graphene ranks better than 53.23% 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.
Black Swan Graphene's Net-Net Working Capital for the quarter that ended in Mar. 2026 was C$0.13.
The industry rank for Black Swan Graphene's Net-Net Working Capital or its related term are showing as below:
TSXV:SWAN's Price-to-Net-Net-Working-Capital is ranked better than 53.23% of 588
companies
in the Chemicals industry
Industry Median: 7.46
vs TSXV:SWAN: 6.85
Black Swan Graphene (TSXV:SWAN) 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.
Black Swan Graphene Net-Net Working Capital Related Terms
Black Swan Graphene Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Black Swan Graphene'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.
TSXV:SWAN vs DOW: Net-Net Working Capital Comparison
For the Chemicals subindustry, Black Swan Graphene'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.
Black Swan Graphene Price-to-Net-Net-Working-Capital vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Black Swan Graphene's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Black Swan Graphene'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 C$0.13 mean?
Black Swan Graphene (TSXV:SWAN) has a Net-Net Working Capital of C$0.13 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 Black Swan Graphene According to the industry distribution chart, Black Swan Graphene ranks #275 out of 588 companies in the Chemicals industry, placing it in the top 46.8%.
Is Black Swan Graphene's Net-Net Working Capital too high?
Black Swan Graphene's current Net-Net Working Capital is C$0.13. Based on the distribution chart, Black Swan Graphene ranks #275 out of 588 companies in the Chemicals industry, which is above the industry midpoint. Overall, Black Swan Graphene has a GF Score™ of 41/100, reflecting its overall financial health beyond just this single metric.
How does Black Swan Graphene's Net-Net Working Capital compare to DOW?
According to the Chemicals industry distribution chart, Black Swan Graphene ranks #275 out of 588 companies for Net-Net Working Capital. This puts Black Swan Graphene in the upper half of its industry. The industry median Net-Net Working Capital is 7.46. 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 Chemicals company?
The median Net-Net Working Capital among Chemicals companies is 7.46, based on 588 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 Black Swan Graphene For the Chemicals industry, the median Net-Net Working Capital is 7.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Black Swan Graphene's current Net-Net Working Capital is C$0.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Black Swan Graphene stock overvalued right now?
Black Swan Graphene (TSXV:SWAN) has a current Net-Net Working Capital of C$0.13. The current Net-Net Working Capital is C$0.13. Black Swan Graphene's overall GF Score™ is 41/100 with 1 warning sign 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 Black Swan Graphene (TSXV:SWAN), the current Net-Net Working Capital is C$0.13 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.
Black Swan Graphene Inc is focused on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymer, Li-ion batteries, and others, which are expected to require large volumes of graphene and, in turn, require large volumes of graphite.
41GF Score
Get the complete analysis for TSXV:SWAN
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSXV:SWAN has been successfully added to your 
