XunleiXNET -0.52%70 Net-Net Working Capital is $1.65 as of Mar. 2026. GuruFocus rates XNET with a GF Score™ of 70/100 and a GF Value™ of $3.24 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,251 Software companies, Xunlei ranks better than 78.42% 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.
Xunlei's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $1.65.
The industry rank for Xunlei's Net-Net Working Capital or its related term are showing as below:
XNET's Price-to-Net-Net-Working-Capital is ranked better than 78.42% of 1251
companies
in the Software industry
Industry Median: 6.82
vs XNET: 2.92
Xunlei (NAS:XNET) 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.
Xunlei Net-Net Working Capital Related Terms
Xunlei Net-Net Working Capital Historical Data
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The historical data trend for Xunlei'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.
XNET vs PSFE, IIIV, ALLT: Net-Net Working Capital Comparison
For the Software - Infrastructure subindustry, Xunlei'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.
Xunlei Price-to-Net-Net-Working-Capital vs Software Industry
For the Software industry and Technology sector, Xunlei's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Xunlei'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 $1.65 mean?
Xunlei (XNET) has a Net-Net Working Capital of $1.65 as of Mar. 2026. 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 Xunlei According to the industry distribution chart, Xunlei ranks #270 out of 1251 companies in the Software industry, placing it in the top 21.6%.
Is Xunlei's Net-Net Working Capital too high?
Xunlei's current Net-Net Working Capital is $1.65. The Software industry median Net-Net Working Capital is 6.82. Xunlei's value of $1.65 is 75.8% below this industry median. Based on the distribution chart, Xunlei ranks #270 out of 1251 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Xunlei has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Xunlei's Net-Net Working Capital compare to PSFE and IIIV?
According to the Software industry distribution chart, Xunlei ranks #270 out of 1251 companies for Net-Net Working Capital. This places Xunlei in the top 22% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 6.82. Xunlei's value of $1.65 is 75.8% 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 Software company?
The median Net-Net Working Capital among Software companies is 6.82, based on 1,251 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. Xunlei's current Net-Net Working Capital of $1.65 is 75.8% 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 Xunlei For the Software industry, the median Net-Net Working Capital is 6.82 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Xunlei's current Net-Net Working Capital is $1.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Xunlei stock overvalued right now?
Based on GuruFocus' analysis, Xunlei (XNET) is currently considered Significantly Overvalued. The stock's GF Value™ is $3.24, compared to a current price of $4.82 — trading 48.6% above its estimated fair value. The current Net-Net Working Capital is $1.65 and 75.8% below the Software industry median of 6.82. Xunlei's overall GF Score™ is 70/100 with 5 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 Xunlei (XNET), the current Net-Net Working Capital is $1.65 as of Mar. 2026. 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 Xunlei (XNET) Overvalued in 2026?
Based on GuruFocus' analysis, Xunlei stock appears to be overvalued.
The current stock price of $4.82 is trading 48.6% above its estimated GF Value™ of $3.24.
GuruFocus considers Xunlei to be Significantly Overvalued.
Key valuation signals for XNET:
Net-Net Working Capital: $1.65
GF Value™: $3.24 vs. price of $4.82 (48.6% above fair value)
Industry Position: 75.8% below the Software median (#270 of 1251)
No single metric tells the full story. See the XNET stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Xunlei Ltd is a technology company providing distributed cloud services in China. It operates a powerful internet platform in China based on cloud technology to enable its users to quickly access, store, manage and consume digital media content on the internet. The company has expanded its products and services from PC-based devices to mobile devices in part through pre-installed acceleration products in mobile phones to further enlarge its user base and offer its users a wider range of access points. It provides a wide range of products and services across cloud acceleration and digital entertainment to deliver an efficient, smart and safe internet environment to its users.
70GF Score
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