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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.
Modern Times Group MTG AB's Net-Net Working Capital for the quarter that ended in Jun. 2026 was €-5.00.
The industry rank for Modern Times Group MTG AB's Net-Net Working Capital or its related term are showing as below:
FRA:MRTA's Price-to-Net-Net-Working-Capital is not ranked *
in the Interactive Media industry.
Industry Median: 4.58 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Modern Times Group MTG AB (FRA:MRTA) 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.
Modern Times Group MTG AB Net-Net Working Capital Related Terms
Modern Times Group MTG AB Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Modern Times Group MTG AB'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.
Modern Times Group MTG AB Net-Net Working Capital Chart
FRA:MRTA vs NTES, EA, TTWO: Net-Net Working Capital Comparison
For the Electronic Gaming & Multimedia subindustry, Modern Times Group MTG AB'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.
Modern Times Group MTG AB Price-to-Net-Net-Working-Capital vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Modern Times Group MTG AB's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Modern Times Group MTG AB'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 €-5.00 mean?
Modern Times Group MTG AB (FRA:MRTA) has a Net-Net Working Capital of €-5.00 as of Jun. 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 Modern Times Group MTG AB According to the industry distribution chart, Modern Times Group MTG AB ranks #999999 out of 302 companies in the Interactive Media industry.
Is Modern Times Group MTG AB's Net-Net Working Capital too high?
Modern Times Group MTG AB's current Net-Net Working Capital is €-5.00. Based on the distribution chart, Modern Times Group MTG AB ranks #999999 out of 302 companies in the Interactive Media industry, which is in the bottom quartile relative to peers. Overall, Modern Times Group MTG AB has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Modern Times Group MTG AB's Net-Net Working Capital compare to NTES and EA?
According to the Interactive Media industry distribution chart, Modern Times Group MTG AB ranks #999999 out of 302 companies for Net-Net Working Capital. This places Modern Times Group MTG AB in the lower half of its industry. The industry median Net-Net Working Capital is 4.58. 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 Interactive Media company?
The median Net-Net Working Capital among Interactive Media companies is 4.58, based on 302 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 Modern Times Group MTG AB For the Interactive Media industry, the median Net-Net Working Capital is 4.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Modern Times Group MTG AB's current Net-Net Working Capital is €-5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Modern Times Group MTG AB stock overvalued right now?
Based on GuruFocus' analysis, Modern Times Group MTG AB (FRA:MRTA) is currently considered Modestly Undervalued. The stock's GF Value™ is €15.49, compared to a current price of €11.34 — trading 26.8% below its estimated fair value. The current Net-Net Working Capital is €-5.00. Modern Times Group MTG AB's overall GF Score™ is 73/100 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 Modern Times Group MTG AB (FRA:MRTA), the current Net-Net Working Capital is €-5.00 as of Jun. 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 Modern Times Group MTG AB (FRA:MRTA) Overvalued in 2026?
Based on GuruFocus' analysis, Modern Times Group MTG AB stock appears to be undervalued.
The current stock price of €11.34 is trading 26.8% below its estimated GF Value™ of €15.49.
GuruFocus considers Modern Times Group MTG AB to be Modestly Undervalued.
Key valuation signals for FRA:MRTA:
Net-Net Working Capital: €-5.00
GF Value™: €15.49 vs. price of €11.34 (26.8% below fair value)
No single metric tells the full story. See the FRA:MRTA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Modern Times Group MTG AB owns and operates gaming companies and studios with popular IPs across a wide range of casual and mid-core genres. The company's portfolio covers a wide range of evergreen gaming franchises like RAID: Shadow Legends, Forge of Empires, Top Drives, and Bloons, as well as word games like CrossWord Jam and WordTrip. Its games generate revenues through in-app purchases, advertising, and from third-party distribution platforms. It operates in a single business segment.
73GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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