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Associated Air-Pak Industries BhdXKLS:03067 Net-Net Working Capital is RM-0.16 as of Dec. 2025. The stock has 3 warning signs investors should review. Among 129 Packaging & Containers companies, Associated Air-Pak Industries Bhd ranks worse than 775193.02% on this metric.
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.
XKLS:03067's Price-to-Net-Net-Working-Capital is not ranked *
in the Packaging & Containers industry.
Industry Median: 6.07 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Associated Air-Pak Industries Bhd (XKLS:03067) 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.
Associated Air-Pak Industries Bhd Net-Net Working Capital Related Terms
Associated Air-Pak Industries Bhd 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.
Associated Air-Pak Industries Bhd Net-Net Working Capital Chart
Associated Air-Pak Industries Bhd Annual Data
Trend
Dec23
Dec24
Dec25
Net-Net Working Capital
-0.16
-0.14
-0.16
Associated Air-Pak Industries Bhd Quarterly Data
Dec23
Dec24
Sep25
Dec25
Net-Net Working Capital
-0.16
-0.14
-0.15
-0.16
XKLS:03067 vs SW, AMCR, PKG: Net-Net Working Capital Comparison
For the Packaging & Containers subindustry, Associated Air-Pak Industries Bhd'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.
Associated Air-Pak Industries Bhd Price-to-Net-Net-Working-Capital vs Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, Associated Air-Pak Industries Bhd's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Associated Air-Pak Industries Bhd'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 RM-0.16 mean?
Associated Air-Pak Industries Bhd (XKLS:03067) has a Net-Net Working Capital of RM-0.16 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 Associated Air-Pak Industries Bhd According to the industry distribution chart, Associated Air-Pak Industries Bhd ranks #999999 out of 129 companies in the Packaging & Containers industry.
Is Associated Air-Pak Industries Bhd's Net-Net Working Capital too high?
Associated Air-Pak Industries Bhd's current Net-Net Working Capital is RM-0.16. Based on the distribution chart, Associated Air-Pak Industries Bhd ranks #999999 out of 129 companies in the Packaging & Containers industry, which is in the bottom quartile relative to peers.
How does Associated Air-Pak Industries Bhd's Net-Net Working Capital compare to SW and AMCR?
According to the Packaging & Containers industry distribution chart, Associated Air-Pak Industries Bhd ranks #999999 out of 129 companies for Net-Net Working Capital. This places Associated Air-Pak Industries Bhd in the lower half of its industry. The industry median Net-Net Working Capital is 6.07. 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 Packaging & Containers company?
The median Net-Net Working Capital among Packaging & Containers companies is 6.07, based on 129 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 Associated Air-Pak Industries Bhd For the Packaging & Containers industry, the median Net-Net Working Capital is 6.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Associated Air-Pak Industries Bhd's current Net-Net Working Capital is RM-0.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Associated Air-Pak Industries Bhd stock overvalued right now?
Associated Air-Pak Industries Bhd (XKLS:03067) has a current Net-Net Working Capital of RM-0.16. The current Net-Net Working Capital is RM-0.16. 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 Associated Air-Pak Industries Bhd (XKLS:03067), the current Net-Net Working Capital is RM-0.16 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.
Associated Air-Pak Industries Bhd is a manufacturer of Expanded Polyethylene Foam and Expanded Polystyrene Foam sheet. It provides range of packaging products such as Bubblepak, Expanded PE Foam, Polyethylene Films, Multi-laminated Structures, and Rolls/Sheets/Trays.
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