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.
SMD Rise PCL's Net-Net Working Capital for the quarter that ended in Mar. 2026 was ฿-1.06.
The industry rank for SMD Rise PCL's Net-Net Working Capital or its related term are showing as below:
BKK:SMD100-R's Price-to-Net-Net-Working-Capital is not ranked *
in the Medical Distribution industry.
Industry Median: 6.62 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
SMD Rise PCL (BKK:SMD100-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.
SMD Rise PCL Net-Net Working Capital Related Terms
SMD Rise PCL Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for SMD Rise PCL'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.
BKK:SMD100-R vs MCK, CAH, COR: Net-Net Working Capital Comparison
For the Medical Distribution subindustry, SMD Rise 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.
SMD Rise PCL Price-to-Net-Net-Working-Capital vs Medical Distribution Industry
For the Medical Distribution industry and Healthcare sector, SMD Rise PCL's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where SMD Rise 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 ฿-1.06 mean?
SMD Rise PCL (BKK:SMD100-R) has a Net-Net Working Capital of ฿-1.06 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 SMD Rise PCL According to the industry distribution chart, SMD Rise PCL ranks #999999 out of 28 companies in the Medical Distribution industry.
Is SMD Rise PCL's Net-Net Working Capital too high?
SMD Rise PCL's current Net-Net Working Capital is ฿-1.06. Based on the distribution chart, SMD Rise PCL ranks #999999 out of 28 companies in the Medical Distribution industry, which is in the bottom quartile relative to peers. Overall, SMD Rise PCL has a GF Score™ of 60/100, reflecting its overall financial health beyond just this single metric.
How does SMD Rise PCL's Net-Net Working Capital compare to MCK and CAH?
According to the Medical Distribution industry distribution chart, SMD Rise PCL ranks #999999 out of 28 companies for Net-Net Working Capital. This places SMD Rise PCL in the lower half of its industry. The industry median Net-Net Working Capital is 6.62. 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 Distribution company?
The median Net-Net Working Capital among Medical Distribution companies is 6.62, based on 28 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 SMD Rise PCL For the Medical Distribution industry, the median Net-Net Working Capital is 6.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SMD Rise PCL's current Net-Net Working Capital is ฿-1.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SMD Rise PCL stock overvalued right now?
SMD Rise PCL (BKK:SMD100-R) has a current Net-Net Working Capital of ฿-1.06. The stock's GF Value™ is ฿24.10, compared to a current price of ฿5.85 — trading 75.7% below its estimated fair value. The current Net-Net Working Capital is ฿-1.06. SMD Rise PCL's overall GF Score™ is 60/100 with 6 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 SMD Rise PCL (BKK:SMD100-R), the current Net-Net Working Capital is ฿-1.06 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 SMD Rise PCL (BKK:SMD100-R) Overvalued in 2026?
Based on GuruFocus' analysis, SMD Rise PCL stock appears to be undervalued.
The current stock price of ฿5.85 is trading 75.7% below its estimated GF Value™ of ฿24.10.
Key valuation signals for BKK:SMD100-R:
Net-Net Working Capital: ฿-1.06
GF Value™: ฿24.10 vs. price of ฿5.85 (75.7% below fair value)
No single metric tells the full story. See the BKK:SMD100-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Address222,222/1-2 Moo 1, Rattanathibet Road, West Inn Complex Building, 10th Floor, Bang Rak Yai Subdistrict, Bang Bua Thong District, Nonthaburi Province, Bangkok, THA, 11110
SMD Rise PCL, formerly Saintmed PCL is engaged in the import and distribution of medical devices and equipment, rental services for medical equipment, and providing services related to medical equipment. It operates in Thailand. The Group is engaged in three operating segments: Sale of medical devices and equipment, medical supplies, Services of medical equipment at sleep lab centers and repair services, and Revenue from rental of medical equipment at wellness centers and other services. The Group is managed and operates principally in Thailand.
60GF Score
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