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Vulcan Energy ResourcesVULNF 53 Net-Net Working Capital is $1.03 as of Dec. 2025. GuruFocus rates VULNF with a GF Score™ of 53/100 and a GF Value™ of $2.57 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,134 Metals & Mining companies, Vulcan Energy Resources ranks better than 92.42% 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.
Vulcan Energy Resources's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $1.03.
The industry rank for Vulcan Energy Resources's Net-Net Working Capital or its related term are showing as below:
VULNF's Price-to-Net-Net-Working-Capital is ranked better than 92.42% of 1134
companies
in the Metals & Mining industry
Industry Median: 6.88
vs VULNF: 1.66
Vulcan Energy Resources (OTCPK:VULNF) 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.
Vulcan Energy Resources Net-Net Working Capital Related Terms
Vulcan Energy Resources Net-Net Working Capital Historical Data
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The historical data trend for Vulcan Energy Resources'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.
Vulcan Energy Resources Net-Net Working Capital Chart
Vulcan Energy Resources Net-Net Working Capital Competitor Comparison
For the Other Industrial Metals & Mining subindustry, Vulcan Energy Resources'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.
Vulcan Energy Resources Price-to-Net-Net-Working-Capital vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Vulcan Energy Resources's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Vulcan Energy Resources'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 $1.03 mean?
Vulcan Energy Resources (VULNF) has a Net-Net Working Capital of $1.03 as of Dec. 2025. 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 Vulcan Energy Resources According to the industry distribution chart, Vulcan Energy Resources ranks #86 out of 1134 companies in the Metals & Mining industry, placing it in the top 7.6%.
Is Vulcan Energy Resources' Net-Net Working Capital too high?
Vulcan Energy Resources' current Net-Net Working Capital is $1.03. The Metals & Mining industry median Net-Net Working Capital is 6.88. Vulcan Energy Resources' value of $1.03 is 85% below this industry median. Based on the distribution chart, Vulcan Energy Resources ranks #86 out of 1134 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Vulcan Energy Resources has a GF Score™ of 53/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vulcan Energy Resources' Net-Net Working Capital compare to competitors?
According to the Metals & Mining industry distribution chart, Vulcan Energy Resources ranks #86 out of 1134 companies for Net-Net Working Capital. This places Vulcan Energy Resources in the top 8% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 6.88. Vulcan Energy Resources' value of $1.03 is 85% 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 Metals & Mining company?
The median Net-Net Working Capital among Metals & Mining companies is 6.88, based on 1,134 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. Vulcan Energy Resources's current Net-Net Working Capital of $1.03 is 85% 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 Vulcan Energy Resources For the Metals & Mining industry, the median Net-Net Working Capital is 6.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vulcan Energy Resources's current Net-Net Working Capital is $1.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vulcan Energy Resources stock overvalued right now?
Based on GuruFocus' analysis, Vulcan Energy Resources (VULNF) is currently considered Modestly Undervalued. The stock's GF Value™ is $2.57, compared to a current price of $1.85 — trading 27.8% below its estimated fair value. The current Net-Net Working Capital is $1.03 and 85% below the Metals & Mining industry median of 6.88. Vulcan Energy Resources' overall GF Score™ is 53/100 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 Vulcan Energy Resources (VULNF), the current Net-Net Working Capital is $1.03 as of Dec. 2025. 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 Vulcan Energy Resources (VULNF) Overvalued in 2026?
Based on GuruFocus' analysis, Vulcan Energy Resources stock appears to be undervalued.
The current stock price of $1.85 is trading 27.8% below its estimated GF Value™ of $2.57.
GuruFocus considers Vulcan Energy Resources to be Modestly Undervalued.
Key valuation signals for VULNF:
Net-Net Working Capital: $1.03
GF Value™: $2.57 vs. price of $1.85 (27.8% below fair value)
Industry Position: 85% below the Metals & Mining median (#86 of 1134)
No single metric tells the full story. See the VULNF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vulcan Energy Resources Ltd is engaged in geothermal energy and lithium exploration and production. The company's Lionheart Project is an integrated lithium and renewable energy project that produces battery-quality lithium from naturally heated subsurface brine in the Upper Rhine Valley, to deliver a local source of sustainable lithium for the European battery industry, with a co-product of renewable energy for local heating needs. It has developed an aluminate-based sorbent, VULSORB, to produce lithium from subsurface brine and harnesses geothermal energy from its operations in the Upper Rhine Valley. The company has three operating segments based on geographical location: Germany, which derives the maximum revenue, other European countries, and Australia.
53GF Score
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