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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.
The industry rank for IBU-tec advanced materials AG's Net-Net Working Capital or its related term are showing as below:
XTER:IBU's Price-to-Net-Net-Working-Capital is not ranked *
in the Chemicals industry.
Industry Median: 7.9 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
IBU-tec advanced materials AG (XTER:IBU) 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.
IBU-tec advanced materials AG Net-Net Working Capital Related Terms
IBU-tec advanced materials AG 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.
IBU-tec advanced materials AG Net-Net Working Capital Chart
XTER:IBU vs DOW: Net-Net Working Capital Comparison
For the Chemicals subindustry, IBU-tec advanced materials AG'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.
IBU-tec advanced materials AG Price-to-Net-Net-Working-Capital vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, IBU-tec advanced materials AG's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where IBU-tec advanced materials AG'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 €-1.84 mean?
IBU-tec advanced materials AG (XTER:IBU) has a Net-Net Working Capital of €-1.84 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 IBU-tec advanced materials AG According to the industry distribution chart, IBU-tec advanced materials AG ranks #999999 out of 589 companies in the Chemicals industry.
Is IBU-tec advanced materials AG's Net-Net Working Capital too high?
IBU-tec advanced materials AG's current Net-Net Working Capital is €-1.84. Based on the distribution chart, IBU-tec advanced materials AG ranks #999999 out of 589 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, IBU-tec advanced materials AG has a GF Score™ of 80/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does IBU-tec advanced materials AG's Net-Net Working Capital compare to DOW?
According to the Chemicals industry distribution chart, IBU-tec advanced materials AG ranks #999999 out of 589 companies for Net-Net Working Capital. This places IBU-tec advanced materials AG in the lower half of its industry. The industry median Net-Net Working Capital is 7.90. 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 Chemicals company?
The median Net-Net Working Capital among Chemicals companies is 7.90, based on 589 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 IBU-tec advanced materials AG For the Chemicals industry, the median Net-Net Working Capital is 7.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IBU-tec advanced materials AG's current Net-Net Working Capital is €-1.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IBU-tec advanced materials AG stock overvalued right now?
Based on GuruFocus' analysis, IBU-tec advanced materials AG (XTER:IBU) is currently considered Significantly Overvalued. The stock's GF Value™ is €10.56, compared to a current price of €14.95 — trading 41.6% above its estimated fair value. The current Net-Net Working Capital is €-1.84. IBU-tec advanced materials AG's overall GF Score™ is 80/100 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 IBU-tec advanced materials AG (XTER:IBU), the current Net-Net Working Capital is €-1.84 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.
Is IBU-tec advanced materials AG (XTER:IBU) Overvalued in 2026?
Based on GuruFocus' analysis, IBU-tec advanced materials AG stock appears to be overvalued.
The current stock price of €14.95 is trading 41.6% above its estimated GF Value™ of €10.56.
GuruFocus considers IBU-tec advanced materials AG to be Significantly Overvalued.
Key valuation signals for XTER:IBU:
Net-Net Working Capital: €-1.84
GF Value™: €10.56 vs. price of €14.95 (41.6% above fair value)
No single metric tells the full story. See the XTER:IBU stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
IBU-tec advanced materials AG develops and produces quality materials for industry. Target markets of the company include the chemical, pharmaceutical, plastics, paints, automotive industries, and others. The company acts both as a service provider for development and production and as a manufacturer of its materials. Their products and services cover the entire value chain from wet chemistry to thermal process engineering. With its products as battery materials, glass coatings, and specialty chemicals the IBU-tec Group places a special focus on green technologies.
80GF Score
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