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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 PM Thoresen Asia Holdings PCL's Net-Net Working Capital or its related term are showing as below:
BKK:PMTA-R's Price-to-Net-Net-Working-Capital is ranked better than 74.42% of 86
companies
in the Agriculture industry
Industry Median: 8.24
vs BKK:PMTA-R: 2.85
PM Thoresen Asia Holdings PCL (BKK:PMTA-R) 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.
PM Thoresen Asia Holdings PCL Net-Net Working Capital Related Terms
PM Thoresen Asia Holdings PCL 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.
PM Thoresen Asia Holdings PCL Net-Net Working Capital Chart
BKK:PMTA-R vs CTVA, CF, MOS: Net-Net Working Capital Comparison
For the Agricultural Inputs subindustry, PM Thoresen Asia Holdings PCL'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.
PM Thoresen Asia Holdings PCL Price-to-Net-Net-Working-Capital vs Agriculture Industry
For the Agriculture industry and Basic Materials sector, PM Thoresen Asia Holdings PCL's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where PM Thoresen Asia Holdings PCL'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 ฿3.34 mean?
PM Thoresen Asia Holdings PCL (BKK:PMTA-R) has a Net-Net Working Capital of ฿3.34 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 PM Thoresen Asia Holdings PCL According to the industry distribution chart, PM Thoresen Asia Holdings PCL ranks #22 out of 86 companies in the Agriculture industry, placing it in the top 25.6%.
Is PM Thoresen Asia Holdings PCL's Net-Net Working Capital too high?
PM Thoresen Asia Holdings PCL's current Net-Net Working Capital is ฿3.34. Based on the distribution chart, PM Thoresen Asia Holdings PCL ranks #22 out of 86 companies in the Agriculture industry, which is above the industry midpoint. Overall, PM Thoresen Asia Holdings PCL has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does PM Thoresen Asia Holdings PCL's Net-Net Working Capital compare to CTVA and CF?
According to the Agriculture industry distribution chart, PM Thoresen Asia Holdings PCL ranks #22 out of 86 companies for Net-Net Working Capital. This puts PM Thoresen Asia Holdings PCL in the upper half of its industry. The industry median Net-Net Working Capital is 8.24. 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 an Agriculture company?
The median Net-Net Working Capital among Agriculture companies is 8.24, based on 86 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 PM Thoresen Asia Holdings PCL For the Agriculture industry, the median Net-Net Working Capital is 8.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PM Thoresen Asia Holdings PCL's current Net-Net Working Capital is ฿3.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PM Thoresen Asia Holdings PCL stock overvalued right now?
PM Thoresen Asia Holdings PCL (BKK:PMTA-R) has a current Net-Net Working Capital of ฿3.34. The stock's GF Value™ is ฿9.00, compared to a current price of ฿10.30 — trading 14.4% above its estimated fair value. The current Net-Net Working Capital is ฿3.34. PM Thoresen Asia Holdings PCL's overall GF Score™ is 66/100 with 3 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 PM Thoresen Asia Holdings PCL (BKK:PMTA-R), the current Net-Net Working Capital is ฿3.34 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 PM Thoresen Asia Holdings PCL (BKK:PMTA-R) Overvalued in 2026?
Based on GuruFocus' analysis, PM Thoresen Asia Holdings PCL stock appears to be overvalued.
The current stock price of ฿10.30 is trading 14.4% above its estimated GF Value™ of ฿9.00.
Key valuation signals for BKK:PMTA-R:
Net-Net Working Capital: ฿3.34
GF Value™: ฿9.00 vs. price of ฿10.30 (14.4% above fair value)
No single metric tells the full story. See the BKK:PMTA-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PM Thoresen Asia Holdings PCL Business Description
PM Thoresen Asia Holdings PCL along with its subsidiaries is engaged in the manufacturing of nitrogen-phosphorus-potassium (NPK) synthesized chemical and micro-element fertilizers, distribution of new seeds and agricultural materials, as well as manufacture, import, and export of plant protection chemicals and macronutrient products. It has two products segments: Manufacture of Fertilizer and crop care products and Factory area management services. The company earns majority of its revenue through the manufacture of fertilizer and crop care products. It has a business presence in Vietnam and other countries.
66GF Score
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