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.
The industry rank for Borussia Dortmund GmbH KGaA's Net-Net Working Capital or its related term are showing as below:
XSWX:BVB's Price-to-Net-Net-Working-Capital is not ranked *
in the Media - Diversified industry.
Industry Median: 4.465 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Borussia Dortmund GmbH KGaA (XSWX:BVB) 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.
Borussia Dortmund GmbH KGaA Net-Net Working Capital Related Terms
Borussia Dortmund GmbH KGaA 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.
Borussia Dortmund GmbH KGaA Net-Net Working Capital Chart
XSWX:BVB vs NFLX, DIS, WBD: Net-Net Working Capital Comparison
For the Entertainment subindustry, Borussia Dortmund GmbH KGaA'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.
Borussia Dortmund GmbH KGaA Price-to-Net-Net-Working-Capital vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Borussia Dortmund GmbH KGaA's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Borussia Dortmund GmbH KGaA'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 CHF-1.65 mean?
Borussia Dortmund GmbH KGaA (XSWX:BVB) has a Net-Net Working Capital of CHF-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 Borussia Dortmund GmbH KGaA According to the industry distribution chart, Borussia Dortmund GmbH KGaA ranks #999999 out of 380 companies in the Media - Diversified industry.
Is Borussia Dortmund GmbH KGaA's Net-Net Working Capital too high?
Borussia Dortmund GmbH KGaA's current Net-Net Working Capital is CHF-1.65. Based on the distribution chart, Borussia Dortmund GmbH KGaA ranks #999999 out of 380 companies in the Media - Diversified industry, which is in the bottom quartile relative to peers. Overall, Borussia Dortmund GmbH KGaA has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does Borussia Dortmund GmbH KGaA's Net-Net Working Capital compare to NFLX and DIS?
According to the Media - Diversified industry distribution chart, Borussia Dortmund GmbH KGaA ranks #999999 out of 380 companies for Net-Net Working Capital. This places Borussia Dortmund GmbH KGaA in the lower half of its industry. The industry median Net-Net Working Capital is 4.47. 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 Media - Diversified company?
The median Net-Net Working Capital among Media - Diversified companies is 4.47, based on 380 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 Borussia Dortmund GmbH KGaA For the Media - Diversified industry, the median Net-Net Working Capital is 4.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Borussia Dortmund GmbH KGaA's current Net-Net Working Capital is CHF-1.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Borussia Dortmund GmbH KGaA stock overvalued right now?
Borussia Dortmund GmbH KGaA (XSWX:BVB) has a current Net-Net Working Capital of CHF-1.65. The stock's GF Value™ is CHF3.19, compared to a current price of CHF2.83 — trading 11.4% below its estimated fair value. The current Net-Net Working Capital is CHF-1.65. Borussia Dortmund GmbH KGaA's overall GF Score™ is 66/100 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 Borussia Dortmund GmbH KGaA (XSWX:BVB), the current Net-Net Working Capital is CHF-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 Borussia Dortmund GmbH KGaA (XSWX:BVB) Overvalued in 2026?
Based on GuruFocus' analysis, Borussia Dortmund GmbH KGaA stock appears to be undervalued.
The current stock price of CHF2.83 is trading 11.4% below its estimated GF Value™ of CHF3.19.
Key valuation signals for XSWX:BVB:
Net-Net Working Capital: CHF-1.65
GF Value™: CHF3.19 vs. price of CHF2.83 (11.4% below fair value)
No single metric tells the full story. See the XSWX:BVB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Borussia Dortmund GmbH & Co KGaA operates a football club. The company conducts its business through the following segments: Borussia Dortmund GmbH & Co. KGaA operates a football club that includes a professional football squad and leverages revenue potential from player transfers, catering, TV marketing, sponsorship, and ticketing. The BVB Merchandising segment consists of a separate merchandising business. The BVB Event and Catering GmbH segment conducts tours, provides and arranges event staffing services, plans and organizes, caters, and manages events of all types. The Besttravel Dortmund GmbH segment arranges travel by air, rail, and ship. The company earns the majority of its revenues from the Borussia Dortmund GmbH & Co. KGaA segment.
66GF Score
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