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Viavi SolutionsVIAV -3.99%45 Net-Net Working Capital is $-3.70 as of Mar. 2026. GuruFocus rates VIAV with a GF Score™ of 45/100 and a GF Value™ of $13.63 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,196 Hardware companies, Viavi Solutions ranks worse than 83611.96% 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.
Viavi Solutions's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $-3.70.
The industry rank for Viavi Solutions's Net-Net Working Capital or its related term are showing as below:
VIAV's Price-to-Net-Net-Working-Capital is not ranked *
in the Hardware industry.
Industry Median: 9.135 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Viavi Solutions (NAS:VIAV) 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.
Viavi Solutions Net-Net Working Capital Related Terms
Viavi Solutions Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Viavi Solutions'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.
VIAV vs VSAT, AAOI, ZBRA: Net-Net Working Capital Comparison
For the Communication Equipment subindustry, Viavi Solutions'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.
Viavi Solutions Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, Viavi Solutions's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Viavi Solutions'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 $-3.70 mean?
Viavi Solutions (VIAV) has a Net-Net Working Capital of $-3.70 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 Viavi Solutions According to the industry distribution chart, Viavi Solutions ranks #999999 out of 1196 companies in the Hardware industry.
Is Viavi Solutions' Net-Net Working Capital too high?
Viavi Solutions' current Net-Net Working Capital is $-3.70. Based on the distribution chart, Viavi Solutions ranks #999999 out of 1196 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Viavi Solutions has a GF Score™ of 45/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Viavi Solutions' Net-Net Working Capital compare to VSAT and AAOI?
According to the Hardware industry distribution chart, Viavi Solutions ranks #999999 out of 1196 companies for Net-Net Working Capital. This places Viavi Solutions in the lower half of its industry. The industry median Net-Net Working Capital is 9.14. 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 Hardware company?
The median Net-Net Working Capital among Hardware companies is 9.14, based on 1,196 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 Viavi Solutions For the Hardware industry, the median Net-Net Working Capital is 9.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Viavi Solutions's current Net-Net Working Capital is $-3.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Viavi Solutions stock overvalued right now?
Based on GuruFocus' analysis, Viavi Solutions (VIAV) is currently considered Significantly Overvalued. The stock's GF Value™ is $13.63, compared to a current price of $38.97 — trading 185.9% above its estimated fair value. The current Net-Net Working Capital is $-3.70. Viavi Solutions' overall GF Score™ is 45/100 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 Viavi Solutions (VIAV), the current Net-Net Working Capital is $-3.70 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 Viavi Solutions (VIAV) Overvalued in 2026?
Based on GuruFocus' analysis, Viavi Solutions stock appears to be overvalued.
The current stock price of $38.97 is trading 185.9% above its estimated GF Value™ of $13.63.
GuruFocus considers Viavi Solutions to be Significantly Overvalued.
Key valuation signals for VIAV:
Net-Net Working Capital: $-3.70
GF Value™: $13.63 vs. price of $38.97 (185.9% above fair value)
No single metric tells the full story. See the VIAV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Viavi Solutions Inc. is an international provider of network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military and avionics customers. The company also offers high-performance thin-film optical coatings, providing light management solutions to anti-counterfeiting, 3D sensing, electronics, automotive, defense, and instrumentation markets. Its operating segments include Network Enablement, Service Enablement, and Optical Security and Performance Products. Geographically, it derives a majority of its revenue from the United States. Additionally, it manufactures and sells optical filters for 3D sensing products that allow facial recognition security authentication for mobile devices.
45GF Score
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