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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.
Mammoth Energy Services's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $1.47.
The industry rank for Mammoth Energy Services's Net-Net Working Capital or its related term are showing as below:
TUSK's Price-to-Net-Net-Working-Capital is ranked better than 80.53% of 113
companies
in the Conglomerates industry
Industry Median: 6
vs TUSK: 1.94
Mammoth Energy Services (NAS:TUSK) 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.
Mammoth Energy Services Net-Net Working Capital Related Terms
Mammoth Energy Services Net-Net Working Capital Historical Data
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The historical data trend for Mammoth Energy Services'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.
Mammoth Energy Services Net-Net Working Capital Chart
TUSK vs BOOM, AIRT, RCMT: Net-Net Working Capital Comparison
For the Conglomerates subindustry, Mammoth Energy Services'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.
Mammoth Energy Services Price-to-Net-Net-Working-Capital vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Mammoth Energy Services's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Mammoth Energy Services'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 $1.47 mean?
Mammoth Energy Services (TUSK) has a Net-Net Working Capital of $1.47 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 Mammoth Energy Services According to the industry distribution chart, Mammoth Energy Services ranks #22 out of 113 companies in the Conglomerates industry, placing it in the top 19.5%.
Is Mammoth Energy Services' Net-Net Working Capital too high?
Mammoth Energy Services' current Net-Net Working Capital is $1.47. The Conglomerates industry median Net-Net Working Capital is 6.00. Mammoth Energy Services' value of $1.47 is 75.5% below this industry median. Based on the distribution chart, Mammoth Energy Services ranks #22 out of 113 companies in the Conglomerates industry, which is in the top quartile — a strong position relative to peers. Overall, Mammoth Energy Services has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mammoth Energy Services' Net-Net Working Capital compare to BOOM and AIRT?
According to the Conglomerates industry distribution chart, Mammoth Energy Services ranks #22 out of 113 companies for Net-Net Working Capital. This places Mammoth Energy Services in the top 20% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 6.00. Mammoth Energy Services' value of $1.47 is 75.5% 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 Conglomerates company?
The median Net-Net Working Capital among Conglomerates companies is 6.00, based on 113 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. Mammoth Energy Services's current Net-Net Working Capital of $1.47 is 75.5% 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 Mammoth Energy Services For the Conglomerates industry, the median Net-Net Working Capital is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mammoth Energy Services's current Net-Net Working Capital is $1.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mammoth Energy Services stock overvalued right now?
Based on GuruFocus' analysis, Mammoth Energy Services (TUSK) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.09, compared to a current price of $2.85 — trading 161.5% above its estimated fair value. The current Net-Net Working Capital is $1.47 and 75.5% below the Conglomerates industry median of 6.00. Mammoth Energy Services' overall GF Score™ is 50/100 with 5 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 Mammoth Energy Services (TUSK), the current Net-Net Working Capital is $1.47 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 Mammoth Energy Services (TUSK) Overvalued in 2026?
Based on GuruFocus' analysis, Mammoth Energy Services stock appears to be overvalued.
The current stock price of $2.85 is trading 161.5% above its estimated GF Value™ of $1.09.
GuruFocus considers Mammoth Energy Services to be Significantly Overvalued.
Key valuation signals for TUSK:
Net-Net Working Capital: $1.47
GF Value™: $1.09 vs. price of $2.85 (161.5% above fair value)
Industry Position: 75.5% below the Conglomerates median (#22 of 113)
No single metric tells the full story. See the TUSK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mammoth Energy Services Inc is an integrated energy services company engaged in providing products and services to enable the exploration and development of North American onshore unconventional oil and natural gas reserves as well as the construction and repair of the electric grid for private utilities, public investor-owned utilities, and co-operative utilities through infrastructure services businesses. The company had three reportable segments, which includes rental services, infrastructure services, natural sand proppant services, accommodation services, and drilling services.
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