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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.
Sto SE KGaA's Net-Net Working Capital for the quarter that ended in Dec. 2025 was €10.36.
The industry rank for Sto SE KGaA's Net-Net Working Capital or its related term are showing as below:
WBO:STOG's Price-to-Net-Net-Working-Capital is ranked worse than 65.63% of 483
companies
in the Construction industry
Industry Median: 6.09
vs WBO:STOG: 9.22
Sto SE KGaA (WBO:STOG) 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.
Sto SE KGaA Net-Net Working Capital Related Terms
Sto SE KGaA Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Sto SE KGaA'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.
WBO:STOG vs TT, JCI, CARR: Net-Net Working Capital Comparison
For the Building Products & Equipment subindustry, Sto SE KGaA'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.
Sto SE KGaA Price-to-Net-Net-Working-Capital vs Construction Industry
For the Construction industry and Industrials sector, Sto SE KGaA's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Sto SE KGaA'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 €10.36 mean?
Sto SE KGaA (WBO:STOG) has a Net-Net Working Capital of €10.36 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 Sto SE KGaA According to the industry distribution chart, Sto SE KGaA ranks #317 out of 483 companies in the Construction industry, placing it in the top 65.6%.
Is Sto SE KGaA's Net-Net Working Capital too high?
Sto SE KGaA's current Net-Net Working Capital is €10.36. Based on the distribution chart, Sto SE KGaA ranks #317 out of 483 companies in the Construction industry, which is below the industry midpoint. Overall, Sto SE KGaA has a GF Score™ of 70/100, reflecting its overall financial health beyond just this single metric.
How does Sto SE KGaA's Net-Net Working Capital compare to TT and JCI?
According to the Construction industry distribution chart, Sto SE KGaA ranks #317 out of 483 companies for Net-Net Working Capital. This places Sto SE KGaA in the lower half of its industry. The industry median Net-Net Working Capital is 6.09. 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 Construction company?
The median Net-Net Working Capital among Construction companies is 6.09, based on 483 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 Sto SE KGaA For the Construction industry, the median Net-Net Working Capital is 6.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sto SE KGaA's current Net-Net Working Capital is €10.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sto SE KGaA stock overvalued right now?
Sto SE KGaA (WBO:STOG) has a current Net-Net Working Capital of €10.36. The stock's GF Value™ is €133.52, compared to a current price of €95.50 — trading 28.5% below its estimated fair value. The current Net-Net Working Capital is €10.36. Sto SE KGaA's overall GF Score™ is 70/100 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 Sto SE KGaA (WBO:STOG), the current Net-Net Working Capital is €10.36 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 Sto SE KGaA (WBO:STOG) Overvalued in 2026?
Based on GuruFocus' analysis, Sto SE KGaA stock appears to be undervalued.
The current stock price of €95.50 is trading 28.5% below its estimated GF Value™ of €133.52.
Key valuation signals for WBO:STOG:
Net-Net Working Capital: €10.36
GF Value™: €133.52 vs. price of €95.50 (28.5% below fair value)
No single metric tells the full story. See the WBO:STOG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sto SE & Co KGaA is a manufacturer of products and systems for building coatings. The company operates in the geographical segments: Western Europe, Northern/Eastern Europe, and America/Asia/Pacific. It derives maximum revenue from Western Europe. The products of the company include facade systems & surface finishes, Acoustic systems, StoColor systems, Interior, Floor coatings, Concrete Restoration, and others.
70GF Score
Get the complete analysis for WBO:STOG
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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