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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.
BPC Instruments AB's Net-Net Working Capital for the quarter that ended in Mar. 2026 was kr6.52.
The industry rank for BPC Instruments AB's Net-Net Working Capital or its related term are showing as below:
XSAT:BPCINS's Price-to-Net-Net-Working-Capital is ranked better than 80.25% of 1200
companies
in the Hardware industry
Industry Median: 8.895
vs XSAT:BPCINS: 2.70
BPC Instruments AB (XSAT:BPCINS) 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.
BPC Instruments AB Net-Net Working Capital Related Terms
BPC Instruments AB Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for BPC Instruments AB'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.
XSAT:BPCINS vs COHR, KEYS, GRMN: Net-Net Working Capital Comparison
For the Scientific & Technical Instruments subindustry, BPC Instruments AB'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.
BPC Instruments AB Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, BPC Instruments AB's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where BPC Instruments AB'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 kr6.52 mean?
BPC Instruments AB (XSAT:BPCINS) has a Net-Net Working Capital of kr6.52 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 BPC Instruments AB According to the industry distribution chart, BPC Instruments AB ranks #237 out of 1200 companies in the Hardware industry, placing it in the top 19.7%.
Is BPC Instruments AB's Net-Net Working Capital too high?
BPC Instruments AB's current Net-Net Working Capital is kr6.52. Based on the distribution chart, BPC Instruments AB ranks #237 out of 1200 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, BPC Instruments AB has a GF Score™ of 68/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does BPC Instruments AB's Net-Net Working Capital compare to COHR and KEYS?
According to the Hardware industry distribution chart, BPC Instruments AB ranks #237 out of 1200 companies for Net-Net Working Capital. This places BPC Instruments AB in the top 20% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 8.90. 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 Hardware company?
The median Net-Net Working Capital among Hardware companies is 8.90, based on 1,200 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 BPC Instruments AB For the Hardware industry, the median Net-Net Working Capital is 8.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BPC Instruments AB's current Net-Net Working Capital is kr6.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BPC Instruments AB stock overvalued right now?
Based on GuruFocus' analysis, BPC Instruments AB (XSAT:BPCINS) is currently considered Significantly Undervalued. The stock's GF Value™ is kr38.84, compared to a current price of kr17.60 — trading 54.7% below its estimated fair value. The current Net-Net Working Capital is kr6.52. BPC Instruments AB's overall GF Score™ is 68/100 with 2 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 BPC Instruments AB (XSAT:BPCINS), the current Net-Net Working Capital is kr6.52 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 BPC Instruments AB (XSAT:BPCINS) Overvalued in 2026?
Based on GuruFocus' analysis, BPC Instruments AB stock appears to be undervalued.
The current stock price of kr17.60 is trading 54.7% below its estimated GF Value™ of kr38.84.
GuruFocus considers BPC Instruments AB to be Significantly Undervalued.
Key valuation signals for XSAT:BPCINS:
Net-Net Working Capital: kr6.52
GF Value™: kr38.84 vs. price of kr17.60 (54.7% below fair value)
No single metric tells the full story. See the XSAT:BPCINS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BPC Instruments AB offers instruments for measuring ultra-low gas volume and flow rate. Many biotechnological processes, such as biogas production, are performed by microorganisms. The company develops and sells automated analytical apparatuses that analyze these reactions. The segments of the company are: Biogas; Biodegradability; Animal nutrition; and Others. Geographically, the company operates in Asia-Pacific, EMEA, China, USA, and Scandinavia.
68GF Score
Get the complete analysis for XSAT:BPCINS
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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