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.
The industry rank for Western Bulk Chartering AS's Net-Net Working Capital or its related term are showing as below:
WSSTF's Price-to-Net-Net-Working-Capital is ranked worse than 53.21% of 218
companies
in the Transportation industry
Industry Median: 6.16
vs WSSTF: 6.88
Western Bulk Chartering AS (OTCPK:WSSTF) 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.
Western Bulk Chartering AS Net-Net Working Capital Related Terms
Western Bulk Chartering AS 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.
Western Bulk Chartering AS Net-Net Working Capital Chart
Western Bulk Chartering AS Net-Net Working Capital Competitor Comparison
For the Marine Shipping subindustry, Western Bulk Chartering AS'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.
Western Bulk Chartering AS Price-to-Net-Net-Working-Capital vs Transportation Industry
For the Transportation industry and Industrials sector, Western Bulk Chartering AS's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Western Bulk Chartering AS'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 $0.31 mean?
Western Bulk Chartering AS (WSSTF) has a Net-Net Working Capital of $0.31 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 Western Bulk Chartering AS According to the industry distribution chart, Western Bulk Chartering AS ranks #116 out of 218 companies in the Transportation industry, placing it in the top 53.2%.
Is Western Bulk Chartering AS's Net-Net Working Capital too high?
Western Bulk Chartering AS's current Net-Net Working Capital is $0.31. The Transportation industry median Net-Net Working Capital is 6.16. Western Bulk Chartering AS's value of $0.31 is 95% below this industry median. Based on the distribution chart, Western Bulk Chartering AS ranks #116 out of 218 companies in the Transportation industry, which is below the industry midpoint. Overall, Western Bulk Chartering AS has a GF Score™ of 55/100, reflecting its overall financial health beyond just this single metric.
How does Western Bulk Chartering AS's Net-Net Working Capital compare to competitors?
According to the Transportation industry distribution chart, Western Bulk Chartering AS ranks #116 out of 218 companies for Net-Net Working Capital. This places Western Bulk Chartering AS in the lower half of its industry. The industry median Net-Net Working Capital is 6.16. Western Bulk Chartering AS's value of $0.31 is 95% 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 Transportation company?
The median Net-Net Working Capital among Transportation companies is 6.16, based on 218 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. Western Bulk Chartering AS's current Net-Net Working Capital of $0.31 is 95% 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 Western Bulk Chartering AS For the Transportation industry, the median Net-Net Working Capital is 6.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Western Bulk Chartering AS's current Net-Net Working Capital is $0.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Western Bulk Chartering AS stock overvalued right now?
Western Bulk Chartering AS (WSSTF) has a current Net-Net Working Capital of $0.31. The stock's GF Value™ is $1.73, compared to a current price of $2.20 — trading 27.2% above its estimated fair value. The current Net-Net Working Capital is $0.31 and 95% below the Transportation industry median of 6.16. Western Bulk Chartering AS's overall GF Score™ is 55/100 with 7 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 Western Bulk Chartering AS (WSSTF), the current Net-Net Working Capital is $0.31 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 Western Bulk Chartering AS (WSSTF) Overvalued in 2026?
Based on GuruFocus' analysis, Western Bulk Chartering AS stock appears to be overvalued.
The current stock price of $2.20 is trading 27.2% above its estimated GF Value™ of $1.73.
Key valuation signals for WSSTF:
Net-Net Working Capital: $0.31
GF Value™: $1.73 vs. price of $2.20 (27.2% above fair value)
Industry Position: 95% below the Transportation median (#116 of 218)
No single metric tells the full story. See the WSSTF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Western Bulk Chartering AS is a transporter of dry bulk commodities. Its commodities include coal, minerals, steel products, cement, agriculture or grains, ferrous ores, and fertilizers, among others. It operates in dry bulk vessels in the Panamax to Handysize segment. Geographic diversification is the Far East, Europe, India, North America, Africa, South America, and the Middle East. The majority of revenue is from the Far East.
55GF Score
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