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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:FORMT's Price-to-Net-Net-Working-Capital is not ranked *
in the Construction industry.
Industry Median: 6.28 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Formet Metal Ve Camnayi Anonim Sirketi (IST:FORMT) 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.
Formet Metal Ve Camnayi Anonim Sirketi Net-Net Working Capital Related Terms
Formet Metal Ve Camnayi Anonim Sirketi 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.
Formet Metal Ve Camnayi Anonim Sirketi Net-Net Working Capital Chart
Formet Metal Ve Camnayi Anonim Sirketi Annual Data
IST:FORMT vs TT, JCI, CARR: Net-Net Working Capital Comparison
For the Building Products & Equipment subindustry, Formet Metal Ve Camnayi Anonim Sirketi'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.
Formet Metal Ve Camnayi Anonim Sirketi Price-to-Net-Net-Working-Capital vs Construction Industry
For the Construction industry and Industrials sector, Formet Metal Ve Camnayi Anonim Sirketi's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Formet Metal Ve Camnayi Anonim Sirketi'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 ₺-0.16 mean?
Formet Metal Ve Camnayi Anonim Sirketi (IST:FORMT) has a Net-Net Working Capital of ₺-0.16 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 Formet Metal Ve Camnayi Anonim Sirketi According to the industry distribution chart, Formet Metal Ve Camnayi Anonim Sirketi ranks #999999 out of 486 companies in the Construction industry.
Is Formet Metal Ve Camnayi Anonim Sirketi's Net-Net Working Capital too high?
Formet Metal Ve Camnayi Anonim Sirketi's current Net-Net Working Capital is ₺-0.16. Based on the distribution chart, Formet Metal Ve Camnayi Anonim Sirketi ranks #999999 out of 486 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Formet Metal Ve Camnayi Anonim Sirketi has a GF Score™ of 59/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Formet Metal Ve Camnayi Anonim Sirketi's Net-Net Working Capital compare to TT and JCI?
According to the Construction industry distribution chart, Formet Metal Ve Camnayi Anonim Sirketi ranks #999999 out of 486 companies for Net-Net Working Capital. This places Formet Metal Ve Camnayi Anonim Sirketi in the lower half of its industry. The industry median Net-Net Working Capital is 6.28. 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 Construction company?
The median Net-Net Working Capital among Construction companies is 6.28, based on 486 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 Formet Metal Ve Camnayi Anonim Sirketi For the Construction industry, the median Net-Net Working Capital is 6.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Formet Metal Ve Camnayi Anonim Sirketi's current Net-Net Working Capital is ₺-0.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Formet Metal Ve Camnayi Anonim Sirketi stock overvalued right now?
Based on GuruFocus' analysis, Formet Metal Ve Camnayi Anonim Sirketi (IST:FORMT) is currently considered Modestly Undervalued. The stock's GF Value™ is ₺2.65, compared to a current price of ₺1.99 — trading 24.9% below its estimated fair value. The current Net-Net Working Capital is ₺-0.16. Formet Metal Ve Camnayi Anonim Sirketi's overall GF Score™ is 59/100 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 Formet Metal Ve Camnayi Anonim Sirketi (IST:FORMT), the current Net-Net Working Capital is ₺-0.16 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 Formet Metal Ve Camnayi Anonim Sirketi (IST:FORMT) Overvalued in 2026?
Based on GuruFocus' analysis, Formet Metal Ve Camnayi Anonim Sirketi stock appears to be undervalued.
The current stock price of ₺1.99 is trading 24.9% below its estimated GF Value™ of ₺2.65.
GuruFocus considers Formet Metal Ve Camnayi Anonim Sirketi to be Modestly Undervalued.
Key valuation signals for IST:FORMT:
Net-Net Working Capital: ₺-0.16
GF Value™: ₺2.65 vs. price of ₺1.99 (24.9% below fair value)
No single metric tells the full story. See the IST:FORMT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Formet Metal Ve Camnayi Anonim Sirketi Business Description
Formet Metal Ve Cam Sanayi Anonim Sirketi manufactures and sells steel doors. It offers products such as Panel Series, Neo Series, Eko Series, and others. The company also provides various accessories such as Knob 204, Knob 208, Kumru 1301 Gold, and other related accessories.
59GF Score
Get the complete analysis for IST:FORMT
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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