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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 Dubai Financial Market PJSC's Net-Net Working Capital or its related term are showing as below:
DFM:DFM's Price-to-Net-Net-Working-Capital is ranked worse than 68.29% of 287
companies
in the Capital Markets industry
Industry Median: 4.98
vs DFM:DFM: 9.53
Dubai Financial Market PJSC (DFM:DFM) 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.
Dubai Financial Market PJSC Net-Net Working Capital Related Terms
Dubai Financial Market PJSC 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.
Dubai Financial Market PJSC Net-Net Working Capital Chart
DFM:DFM vs SPGI, CME, MCO: Net-Net Working Capital Comparison
For the Financial Data & Stock Exchanges subindustry, Dubai Financial Market PJSC'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.
Dubai Financial Market PJSC Price-to-Net-Net-Working-Capital vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Dubai Financial Market PJSC's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Dubai Financial Market PJSC'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 د.إ0.15 mean?
Dubai Financial Market PJSC (DFM:DFM) has a Net-Net Working Capital of د.إ0.15 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 Dubai Financial Market PJSC According to the industry distribution chart, Dubai Financial Market PJSC ranks #196 out of 287 companies in the Capital Markets industry, placing it in the top 68.3%.
Is Dubai Financial Market PJSC's Net-Net Working Capital too high?
Dubai Financial Market PJSC's current Net-Net Working Capital is د.إ0.15. Based on the distribution chart, Dubai Financial Market PJSC ranks #196 out of 287 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Dubai Financial Market PJSC has a GF Score™ of 97/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Dubai Financial Market PJSC's Net-Net Working Capital compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Dubai Financial Market PJSC ranks #196 out of 287 companies for Net-Net Working Capital. This places Dubai Financial Market PJSC in the lower half of its industry. The industry median Net-Net Working Capital is 4.98. 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 Capital Markets company?
The median Net-Net Working Capital among Capital Markets companies is 4.98, based on 287 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 Dubai Financial Market PJSC For the Capital Markets industry, the median Net-Net Working Capital is 4.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dubai Financial Market PJSC's current Net-Net Working Capital is د.إ0.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dubai Financial Market PJSC stock overvalued right now?
Based on GuruFocus' analysis, Dubai Financial Market PJSC (DFM:DFM) is currently considered Modestly Undervalued. The stock's GF Value™ is د.إ1.89, compared to a current price of د.إ1.43 — trading 24.3% below its estimated fair value. The current Net-Net Working Capital is د.إ0.15. Dubai Financial Market PJSC's overall GF Score™ is 97/100 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 Dubai Financial Market PJSC (DFM:DFM), the current Net-Net Working Capital is د.إ0.15 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 Dubai Financial Market PJSC (DFM:DFM) Overvalued in 2026?
Based on GuruFocus' analysis, Dubai Financial Market PJSC stock appears to be undervalued.
The current stock price of د.إ1.43 is trading 24.3% below its estimated GF Value™ of د.إ1.89.
GuruFocus considers Dubai Financial Market PJSC to be Modestly Undervalued.
Key valuation signals for DFM:DFM:
Net-Net Working Capital: د.إ0.15
GF Value™: د.إ1.89 vs. price of د.إ1.43 (24.3% below fair value)
No single metric tells the full story. See the DFM:DFM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dubai Financial Market PJSC operates as a regulated secondary market for the trading of securities issued by public shareholding companies, bonds issued by federal or local governments, local public institutions, and mutual funds as well as other local or foreign financial instruments. The company is focused on trading in financial instruments, acting as a commercial, industrial and agricultural holding and trust company, financial investment consultancy, and brokerage in local and foreign shares and bonds. It is engaged in a single segment of operating stock exchanges and related clearing house. The company derives the majority of revenue from Trading commission fees and rest from Brokerage fees, Clearing, settlement and depository fees, Listing and market data fees, and Other fees.
97GF Score
Get the complete analysis for DFM:DFM
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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