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.
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.
Auto Partner's Net-Net Working Capital for the quarter that ended in Mar. 2026 was zł1.15.
The industry rank for Auto Partner's Net-Net Working Capital or its related term are showing as below:
WAR:APR's Price-to-Net-Net-Working-Capital is ranked worse than 79.43% of 384
companies
in the Vehicles & Parts industry
Industry Median: 7.465
vs WAR:APR: 24.52
Auto Partner (WAR:APR) 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.
Auto Partner Net-Net Working Capital Related Terms
Auto Partner Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Auto Partner'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.
WAR:APR vs ORLY, AZO: Net-Net Working Capital Comparison
For the Auto Parts subindustry, Auto Partner'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.
Auto Partner Price-to-Net-Net-Working-Capital vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Auto Partner's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Auto Partner'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 zł1.15 mean?
Auto Partner (WAR:APR) has a Net-Net Working Capital of zł1.15 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 Auto Partner According to the industry distribution chart, Auto Partner ranks #305 out of 384 companies in the Vehicles & Parts industry, placing it in the top 79.4%.
Is Auto Partner's Net-Net Working Capital too high?
Auto Partner's current Net-Net Working Capital is zł1.15. Based on the distribution chart, Auto Partner ranks #305 out of 384 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, Auto Partner has a GF Score™ of 95/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Auto Partner's Net-Net Working Capital compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Auto Partner ranks #305 out of 384 companies for Net-Net Working Capital. This places Auto Partner in the lower half of its industry. The industry median Net-Net Working Capital is 7.47. 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 Vehicles & Parts company?
The median Net-Net Working Capital among Vehicles & Parts companies is 7.47, based on 384 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 Auto Partner For the Vehicles & Parts industry, the median Net-Net Working Capital is 7.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Auto Partner's current Net-Net Working Capital is zł1.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Auto Partner stock overvalued right now?
Based on GuruFocus' analysis, Auto Partner (WAR:APR) is currently considered Modestly Overvalued. The stock's GF Value™ is zł25.22, compared to a current price of zł28.20 — trading 11.8% above its estimated fair value. The current Net-Net Working Capital is zł1.15. Auto Partner's overall GF Score™ is 95/100 with 8 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 Auto Partner (WAR:APR), the current Net-Net Working Capital is zł1.15 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 Auto Partner (WAR:APR) Overvalued in 2026?
Based on GuruFocus' analysis, Auto Partner stock appears to be overvalued.
The current stock price of zł28.20 is trading 11.8% above its estimated GF Value™ of zł25.22.
GuruFocus considers Auto Partner to be Modestly Overvalued.
Key valuation signals for WAR:APR:
Net-Net Working Capital: zł1.15
GF Value™: zł25.22 vs. price of zł28.20 (11.8% above fair value)
No single metric tells the full story. See the WAR:APR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Auto Partner SA principal activity is the sale of spare parts and accessories for motor vehicles. The group consists in the organisation of distribution of vehicle spare parts directly from manufacturers to end users. The Group is an importer and distributor of parts for passenger cars and delivery vehicles in the market for spare parts. The company has presence in Poland, EU, and Others. The company generates majority of revenue from Poland.
95GF Score
Get the complete analysis for WAR:APR
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
WAR:APR has been successfully added to your 
