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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.
IST:FLAP's Price-to-Net-Net-Working-Capital is not ranked *
in the Travel & Leisure industry.
Industry Median: 6.7 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS (IST:FLAP) 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.
Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS Net-Net Working Capital Related Terms
Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS 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.
Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS Net-Net Working Capital Chart
Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS Annual Data
IST:FLAP vs BKNG, ABNB, RCL: Net-Net Working Capital Comparison
For the Travel Services subindustry, Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS'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.
Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS Price-to-Net-Net-Working-Capital vs Travel & Leisure Industry
* 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 ₺-0.68 mean?
Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS (IST:FLAP) has a Net-Net Working Capital of ₺-0.68 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 Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS According to the industry distribution chart, Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS ranks #999999 out of 215 companies in the Travel & Leisure industry.
Is Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS's Net-Net Working Capital too high?
Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS's current Net-Net Working Capital is ₺-0.68. Based on the distribution chart, Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS ranks #999999 out of 215 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS has a GF Score™ of 59/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS's Net-Net Working Capital compare to BKNG and ABNB?
According to the Travel & Leisure industry distribution chart, Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS ranks #999999 out of 215 companies for Net-Net Working Capital. This places Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS in the lower half of its industry. The industry median Net-Net Working Capital is 6.70. 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 Travel & Leisure company?
The median Net-Net Working Capital among Travel & Leisure companies is 6.70, based on 215 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 Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS For the Travel & Leisure industry, the median Net-Net Working Capital is 6.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS's current Net-Net Working Capital is ₺-0.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS stock overvalued right now?
Based on GuruFocus' analysis, Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS (IST:FLAP) is currently considered Fairly Valued. The stock's GF Value™ is ₺9.95, compared to a current price of ₺10.57 — trading 6.2% above its estimated fair value. The current Net-Net Working Capital is ₺-0.68. Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS's overall GF Score™ is 59/100 with 4 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 Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS (IST:FLAP), the current Net-Net Working Capital is ₺-0.68 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 Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS (IST:FLAP) Overvalued in 2026?
Based on GuruFocus' analysis, Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS stock appears to be overvalued.
The current stock price of ₺10.57 is trading 6.2% above its estimated GF Value™ of ₺9.95.
GuruFocus considers Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS to be Fairly Valued.
Key valuation signals for IST:FLAP:
Net-Net Working Capital: ₺-0.68
GF Value™: ₺9.95 vs. price of ₺10.57 (6.2% above fair value)
No single metric tells the full story. See the IST:FLAP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS Business Description
Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS is a Turkey-based company engaged in travel and tourism business. It is involved in planning and organizing events considering the developments and trends in all fields of the tourism industry.
59GF Score
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