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Dentsply SironaXRAY +1.53%59 Net-Net Working Capital is $-14.60 as of Mar. 2026. GuruFocus rates XRAY with a GF Score™ of 59/100 and a GF Value™ of $19.00 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 421 Medical Devices & Instruments companies, Dentsply Sirona ranks worse than 237529.45% 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.
Dentsply Sirona's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $-14.60.
The industry rank for Dentsply Sirona's Net-Net Working Capital or its related term are showing as below:
XRAY's Price-to-Net-Net-Working-Capital is not ranked *
in the Medical Devices & Instruments industry.
Industry Median: 6.5 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Dentsply Sirona (NAS:XRAY) 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.
Dentsply Sirona Net-Net Working Capital Related Terms
Dentsply Sirona Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Dentsply Sirona'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.
XRAY vs LMAT, PLSE, KMTS: Net-Net Working Capital Comparison
For the Medical Instruments & Supplies subindustry, Dentsply Sirona'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.
Dentsply Sirona Price-to-Net-Net-Working-Capital vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Dentsply Sirona's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Dentsply Sirona'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 $-14.60 mean?
Dentsply Sirona (XRAY) has a Net-Net Working Capital of $-14.60 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 Dentsply Sirona According to the industry distribution chart, Dentsply Sirona ranks #999999 out of 421 companies in the Medical Devices & Instruments industry.
Is Dentsply Sirona's Net-Net Working Capital too high?
Dentsply Sirona's current Net-Net Working Capital is $-14.60. Based on the distribution chart, Dentsply Sirona ranks #999999 out of 421 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Dentsply Sirona has a GF Score™ of 59/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Dentsply Sirona's Net-Net Working Capital compare to LMAT and PLSE?
According to the Medical Devices & Instruments industry distribution chart, Dentsply Sirona ranks #999999 out of 421 companies for Net-Net Working Capital. This places Dentsply Sirona in the lower half of its industry. The industry median Net-Net Working Capital is 6.50. 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 Medical Devices & Instruments company?
The median Net-Net Working Capital among Medical Devices & Instruments companies is 6.50, based on 421 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 Dentsply Sirona For the Medical Devices & Instruments industry, the median Net-Net Working Capital is 6.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dentsply Sirona's current Net-Net Working Capital is $-14.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dentsply Sirona stock overvalued right now?
Based on GuruFocus' analysis, Dentsply Sirona (XRAY) is currently considered Possible Value Trap. The stock's GF Value™ is $19.00, compared to a current price of $12.94 — trading 31.9% below its estimated fair value. The current Net-Net Working Capital is $-14.60. Dentsply Sirona's overall GF Score™ is 59/100 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 Dentsply Sirona (XRAY), the current Net-Net Working Capital is $-14.60 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 Dentsply Sirona (XRAY) Overvalued in 2026?
Based on GuruFocus' analysis, Dentsply Sirona stock appears to be undervalued.
The current stock price of $12.94 is trading 31.9% below its estimated GF Value™ of $19.00.
GuruFocus considers Dentsply Sirona to be Possible Value Trap.
Key valuation signals for XRAY:
Net-Net Working Capital: $-14.60
GF Value™: $19.00 vs. price of $12.94 (31.9% below fair value)
No single metric tells the full story. See the XRAY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dentsply Sirona is one of the world's largest manufacturers of dental equipment and supplies. It is a result of a merger of equals in 2016 between Dentsply International (dental consumables and lab products) and Sirona Dental Systems (technologically advanced dental equipment). The firm's wide portfolio consists of dental consumables, lab products, CAD/CAM and imaging technology, medical devices, and specialty products in orthodontics, endodontics, and implantation. It distributes two-thirds of its dental consumables, technology, and equipment through third-party distributors. The remaining portfolio is sold to labs and offices through the firm's salesforce or directly to consumers (such as the Byte clear aligner).
59GF Score
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