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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 IS Yatirim Menkul Degerler AS's Net-Net Working Capital or its related term are showing as below:
IST:ISMEN's Price-to-Net-Net-Working-Capital is not ranked *
in the Capital Markets industry.
Industry Median: 4.55 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
IS Yatirim Menkul Degerler AS (IST:ISMEN) 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.
IS Yatirim Menkul Degerler AS Net-Net Working Capital Related Terms
IS Yatirim Menkul Degerler 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.
IS Yatirim Menkul Degerler AS Net-Net Working Capital Chart
IST:ISMEN vs MS, GS, SCHW: Net-Net Working Capital Comparison
For the Capital Markets subindustry, IS Yatirim Menkul Degerler 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.
IS Yatirim Menkul Degerler AS Price-to-Net-Net-Working-Capital vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, IS Yatirim Menkul Degerler AS's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where IS Yatirim Menkul Degerler AS'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 ₺-11.08 mean?
IS Yatirim Menkul Degerler AS (IST:ISMEN) has a Net-Net Working Capital of ₺-11.08 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 IS Yatirim Menkul Degerler AS According to the industry distribution chart, IS Yatirim Menkul Degerler AS ranks #999999 out of 278 companies in the Capital Markets industry.
Is IS Yatirim Menkul Degerler AS's Net-Net Working Capital too high?
IS Yatirim Menkul Degerler AS's current Net-Net Working Capital is ₺-11.08. Based on the distribution chart, IS Yatirim Menkul Degerler AS ranks #999999 out of 278 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, IS Yatirim Menkul Degerler AS has a GF Score™ of 82/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does IS Yatirim Menkul Degerler AS's Net-Net Working Capital compare to MS and GS?
According to the Capital Markets industry distribution chart, IS Yatirim Menkul Degerler AS ranks #999999 out of 278 companies for Net-Net Working Capital. This places IS Yatirim Menkul Degerler AS in the lower half of its industry. The industry median Net-Net Working Capital is 4.55. 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 4.55, based on 278 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 IS Yatirim Menkul Degerler AS For the Capital Markets industry, the median Net-Net Working Capital is 4.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IS Yatirim Menkul Degerler AS's current Net-Net Working Capital is ₺-11.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IS Yatirim Menkul Degerler AS stock overvalued right now?
Based on GuruFocus' analysis, IS Yatirim Menkul Degerler AS (IST:ISMEN) is currently considered Significantly Undervalued. The stock's GF Value™ is ₺65.47, compared to a current price of ₺34.02 — trading 48% below its estimated fair value. The current Net-Net Working Capital is ₺-11.08. IS Yatirim Menkul Degerler AS's overall GF Score™ is 82/100 with 2 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 IS Yatirim Menkul Degerler AS (IST:ISMEN), the current Net-Net Working Capital is ₺-11.08 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 IS Yatirim Menkul Degerler AS (IST:ISMEN) Overvalued in 2026?
Based on GuruFocus' analysis, IS Yatirim Menkul Degerler AS stock appears to be undervalued.
The current stock price of ₺34.02 is trading 48% below its estimated GF Value™ of ₺65.47.
GuruFocus considers IS Yatirim Menkul Degerler AS to be Significantly Undervalued.
Key valuation signals for IST:ISMEN:
Net-Net Working Capital: ₺-11.08
GF Value™: ₺65.47 vs. price of ₺34.02 (48% below fair value)
No single metric tells the full story. See the IST:ISMEN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
IS Yatirim Menkul Degerler AS is a Turkey-based company engaged in the provision of investment advisory services, market making and liquidity providing services as well as traditional brokerage services The company's operating segment includes Securities Brokerage, Investment Trust, Portfolio Management, Private Equity, and Asset Management. It generates maximum revenue from the Securities Brokerage segment. The company serves domestic and international, individual and institutional investors with high-added-value services.
82GF Score
Get the complete analysis for IST:ISMEN
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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