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Puig BrandsXMAD:PUIG 17 Net-Net Working Capital is €-5.01 as of Dec. 2025. GuruFocus rates XMAD:PUIG with a GF Score™ of 17/100. The stock has 3 warning signs investors should review. Among 665 Consumer Packaged Goods companies, Puig Brands ranks worse than 150375.79% 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.
Puig Brands's Net-Net Working Capital for the quarter that ended in Dec. 2025 was €-5.01.
The industry rank for Puig Brands's Net-Net Working Capital or its related term are showing as below:
XMAD:PUIG's Price-to-Net-Net-Working-Capital is not ranked *
in the Consumer Packaged Goods industry.
Industry Median: 6.61 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Puig Brands (XMAD:PUIG) 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.
Puig Brands Net-Net Working Capital Related Terms
Puig Brands Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Puig Brands'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.
XMAD:PUIG vs PG, CL, KVUE: Net-Net Working Capital Comparison
For the Household & Personal Products subindustry, Puig Brands'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.
Puig Brands Price-to-Net-Net-Working-Capital vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Puig Brands's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Puig Brands'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 €-5.01 mean?
Puig Brands (XMAD:PUIG) has a Net-Net Working Capital of €-5.01 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 Puig Brands According to the industry distribution chart, Puig Brands ranks #999999 out of 665 companies in the Consumer Packaged Goods industry.
Is Puig Brands' Net-Net Working Capital too high?
Puig Brands' current Net-Net Working Capital is €-5.01. Based on the distribution chart, Puig Brands ranks #999999 out of 665 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Puig Brands has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Puig Brands' Net-Net Working Capital compare to PG and CL?
According to the Consumer Packaged Goods industry distribution chart, Puig Brands ranks #999999 out of 665 companies for Net-Net Working Capital. This places Puig Brands in the lower half of its industry. The industry median Net-Net Working Capital is 6.61. 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 6.61, based on 665 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 Puig Brands For the Consumer Packaged Goods industry, the median Net-Net Working Capital is 6.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Puig Brands's current Net-Net Working Capital is €-5.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Puig Brands stock overvalued right now?
Puig Brands (XMAD:PUIG) has a current Net-Net Working Capital of €-5.01. The current Net-Net Working Capital is €-5.01. Puig Brands' overall GF Score™ is 17/100 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 Puig Brands (XMAD:PUIG), the current Net-Net Working Capital is €-5.01 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.
Puig is a premium beauty product maker that focuses on fragrances (72% of 2025 sales), with more limited exposure to color cosmetics (17%) and skincare (11%). Through a series of acquisitions, Puig has built a premium portfolio, including brands such as Rabanne, Carolina Herrera, Byredo, L'Artisan Parfumeur, Penhaligon's, Dries Van Noten, and Charlotte Tilbury, which contributes over 90% of total sales. It also has long-term licensing agreements with Christian Louboutin, Adolfo Dominguez, and Antonio Banderas. Puig generates close to 54% of sales from Europe, 35% from the Americas, and 11% from Asia. The Puig family owns over 70% of the economic interests in the company and over 90% of the voting rights via a dual-class share structure.
17GF Score
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