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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.
WAR:OTM's Price-to-Net-Net-Working-Capital is not ranked *
in the Consumer Packaged Goods industry.
Industry Median: 7 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Zaklady Przemyslu Cukierniczego Otmuchow (WAR:OTM) 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.
Zaklady Przemyslu Cukierniczego Otmuchow Net-Net Working Capital Related Terms
Zaklady Przemyslu Cukierniczego Otmuchow Net-Net Working Capital Historical Data
* 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.
Zaklady Przemyslu Cukierniczego Otmuchow Net-Net Working Capital Chart
Zaklady Przemyslu Cukierniczego Otmuchow Annual Data
WAR:OTM vs KHC, GIS: Net-Net Working Capital Comparison
For the Packaged Foods subindustry, Zaklady Przemyslu Cukierniczego Otmuchow'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.
Zaklady Przemyslu Cukierniczego Otmuchow Price-to-Net-Net-Working-Capital vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Zaklady Przemyslu Cukierniczego Otmuchow's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Zaklady Przemyslu Cukierniczego Otmuchow'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 zł-1.11 mean?
Zaklady Przemyslu Cukierniczego Otmuchow (WAR:OTM) has a Net-Net Working Capital of zł-1.11 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 Zaklady Przemyslu Cukierniczego Otmuchow According to the industry distribution chart, Zaklady Przemyslu Cukierniczego Otmuchow ranks #999999 out of 644 companies in the Consumer Packaged Goods industry.
Is Zaklady Przemyslu Cukierniczego Otmuchow's Net-Net Working Capital too high?
Zaklady Przemyslu Cukierniczego Otmuchow's current Net-Net Working Capital is zł-1.11. Based on the distribution chart, Zaklady Przemyslu Cukierniczego Otmuchow ranks #999999 out of 644 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Zaklady Przemyslu Cukierniczego Otmuchow has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Zaklady Przemyslu Cukierniczego Otmuchow's Net-Net Working Capital compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Zaklady Przemyslu Cukierniczego Otmuchow ranks #999999 out of 644 companies for Net-Net Working Capital. This places Zaklady Przemyslu Cukierniczego Otmuchow in the lower half of its industry. The industry median Net-Net Working Capital is 7.00. 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 Consumer Packaged Goods company?
The median Net-Net Working Capital among Consumer Packaged Goods companies is 7.00, based on 644 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 Zaklady Przemyslu Cukierniczego Otmuchow For the Consumer Packaged Goods industry, the median Net-Net Working Capital is 7.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zaklady Przemyslu Cukierniczego Otmuchow's current Net-Net Working Capital is zł-1.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zaklady Przemyslu Cukierniczego Otmuchow stock overvalued right now?
Based on GuruFocus' analysis, Zaklady Przemyslu Cukierniczego Otmuchow (WAR:OTM) is currently considered Fairly Valued. The stock's GF Value™ is zł4.75, compared to a current price of zł4.75 — trading right at its estimated fair value. The current Net-Net Working Capital is zł-1.11. Zaklady Przemyslu Cukierniczego Otmuchow's overall GF Score™ is 66/100 with 3 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 Zaklady Przemyslu Cukierniczego Otmuchow (WAR:OTM), the current Net-Net Working Capital is zł-1.11 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 Zaklady Przemyslu Cukierniczego Otmuchow (WAR:OTM) Overvalued in 2026?
Based on GuruFocus' analysis, Zaklady Przemyslu Cukierniczego Otmuchow stock appears to be undervalued.
The current stock price of zł4.75 is trading 0% below its estimated GF Value™ of zł4.75.
GuruFocus considers Zaklady Przemyslu Cukierniczego Otmuchow to be Fairly Valued.
Key valuation signals for WAR:OTM:
Net-Net Working Capital: zł-1.11
GF Value™: zł4.75 vs. price of zł4.75 (0% below fair value)
No single metric tells the full story. See the WAR:OTM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zaklady Przemyslu Cukierniczego Otmuchow SA is involved in producing and selling sweets, salty snacks, and breakfast cereal products in Poland and internationally. It offers cakes, created sugar molds, glazed gingerbread hearts and stars, lollipops, chocolate and sugar covered jellies, halvah, filled and hard caramels, and dragees, marshmallows, and other products.
66GF Score
Get the complete analysis for WAR:OTM
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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