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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:SFK's Price-to-Net-Net-Working-Capital is not ranked *
in the Manufacturing - Apparel & Accessories industry.
Industry Median: 5.305 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Skoczowska Fabryka Kapeluszy Polkap (WAR:SFK) 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.
Skoczowska Fabryka Kapeluszy Polkap Net-Net Working Capital Related Terms
Skoczowska Fabryka Kapeluszy Polkap 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.
Skoczowska Fabryka Kapeluszy Polkap Net-Net Working Capital Chart
WAR:SFK vs NKE, DECK, ONON: Net-Net Working Capital Comparison
For the Footwear & Accessories subindustry, Skoczowska Fabryka Kapeluszy Polkap'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.
Skoczowska Fabryka Kapeluszy Polkap Price-to-Net-Net-Working-Capital vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Skoczowska Fabryka Kapeluszy Polkap's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Skoczowska Fabryka Kapeluszy Polkap'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-0.82 mean?
Skoczowska Fabryka Kapeluszy Polkap (WAR:SFK) has a Net-Net Working Capital of zł-0.82 as of Sep. 2024. 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 Skoczowska Fabryka Kapeluszy Polkap
Is Skoczowska Fabryka Kapeluszy Polkap's Net-Net Working Capital too high?
Skoczowska Fabryka Kapeluszy Polkap's current Net-Net Working Capital is zł-0.82. Overall, Skoczowska Fabryka Kapeluszy Polkap has a GF Score™ of 4/100, reflecting its overall financial health beyond just this single metric.
How does Skoczowska Fabryka Kapeluszy Polkap's Net-Net Working Capital compare to NKE and DECK?
Skoczowska Fabryka Kapeluszy Polkap's Net-Net Working Capital of zł-0.82 can be compared against companies in the Manufacturing - Apparel & Accessories industry. The industry median Net-Net Working Capital is 5.31. 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 Manufacturing - Apparel & Accessories company?
The median Net-Net Working Capital among Manufacturing - Apparel & Accessories companies is 5.31, based on 372 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 Skoczowska Fabryka Kapeluszy Polkap For the Manufacturing - Apparel & Accessories industry, the median Net-Net Working Capital is 5.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Skoczowska Fabryka Kapeluszy Polkap's current Net-Net Working Capital is zł-0.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Skoczowska Fabryka Kapeluszy Polkap stock overvalued right now?
Skoczowska Fabryka Kapeluszy Polkap (WAR:SFK) has a current Net-Net Working Capital of zł-0.82. The current Net-Net Working Capital is zł-0.82. Skoczowska Fabryka Kapeluszy Polkap's overall GF Score™ is 4/100. 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 Skoczowska Fabryka Kapeluszy Polkap (WAR:SFK), the current Net-Net Working Capital is zł-0.82 as of Sep. 2024. 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.
Skoczowska Fabryka Kapeluszy Polkap SA is engaged in the manufacturing of woolen and fur felt hat bodies and hats. It is a licensed manufacturer of pierre cardin hats. The company also produces hunting and highlander hats, top hats, military berets, Hasidic hats and others.
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