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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.
Valens Semiconductor's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $0.67.
The industry rank for Valens Semiconductor's Net-Net Working Capital or its related term are showing as below:
VLN's Price-to-Net-Net-Working-Capital is ranked better than 89.91% of 535
companies
in the Semiconductors industry
Industry Median: 11.89
vs VLN: 2.43
Valens Semiconductor (NYSE:VLN) 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.
Valens Semiconductor Net-Net Working Capital Related Terms
Valens Semiconductor Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Valens Semiconductor'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.
Valens Semiconductor Net-Net Working Capital Chart
VLN vs GCTS, MX, GSIT: Net-Net Working Capital Comparison
For the Semiconductors subindustry, Valens Semiconductor'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.
Valens Semiconductor Price-to-Net-Net-Working-Capital vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Valens Semiconductor's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Valens Semiconductor'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 $0.67 mean?
Valens Semiconductor (VLN) has a Net-Net Working Capital of $0.67 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 Valens Semiconductor According to the industry distribution chart, Valens Semiconductor ranks #54 out of 535 companies in the Semiconductors industry, placing it in the top 10.1%.
Is Valens Semiconductor's Net-Net Working Capital too high?
Valens Semiconductor's current Net-Net Working Capital is $0.67. The Semiconductors industry median Net-Net Working Capital is 11.89. Valens Semiconductor's value of $0.67 is 94.4% below this industry median. Based on the distribution chart, Valens Semiconductor ranks #54 out of 535 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Valens Semiconductor has a GF Score™ of 69/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Valens Semiconductor's Net-Net Working Capital compare to GCTS and MX?
According to the Semiconductors industry distribution chart, Valens Semiconductor ranks #54 out of 535 companies for Net-Net Working Capital. This places Valens Semiconductor in the top 10% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 11.89. Valens Semiconductor's value of $0.67 is 94.4% 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 Semiconductors company?
The median Net-Net Working Capital among Semiconductors companies is 11.89, based on 535 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. Valens Semiconductor's current Net-Net Working Capital of $0.67 is 94.4% 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 Valens Semiconductor For the Semiconductors industry, the median Net-Net Working Capital is 11.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Valens Semiconductor's current Net-Net Working Capital is $0.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Valens Semiconductor stock overvalued right now?
Based on GuruFocus' analysis, Valens Semiconductor (VLN) is currently considered Modestly Undervalued. The stock's GF Value™ is $2.09, compared to a current price of $1.63 — trading 22% below its estimated fair value. The current Net-Net Working Capital is $0.67 and 94.4% below the Semiconductors industry median of 11.89. Valens Semiconductor's overall GF Score™ is 69/100 with 6 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 Valens Semiconductor (VLN), the current Net-Net Working Capital is $0.67 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 Valens Semiconductor (VLN) Overvalued in 2026?
Based on GuruFocus' analysis, Valens Semiconductor stock appears to be undervalued.
The current stock price of $1.63 is trading 22% below its estimated GF Value™ of $2.09.
GuruFocus considers Valens Semiconductor to be Modestly Undervalued.
Key valuation signals for VLN:
Net-Net Working Capital: $0.67
GF Value™: $2.09 vs. price of $1.63 (22% below fair value)
Industry Position: 94.4% below the Semiconductors median (#54 of 535)
No single metric tells the full story. See the VLN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Valens Semiconductor Ltd is a provider of semiconductor products, pushing the boundaries of connectivity by enabling long-reach, high-speed video, and data transmission for the audio-video and automotive industries. It operates in two segments: Cross Industry Business, which includes solutions for the non-automotive verticals, including audio-video, industrial, machine vision and medical markets, that deliver superior, plug-and-play convergence and distribution of different interfaces, through a single long-distance category cable; and Automotive segment products enable safe and resilient high-speed in-vehicle connectivity for car architectures, realizing the vision of connected and autonomous cars. The company's geographical revenue is derived from Hungary.
69GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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