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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.
ISX:AMOR's Price-to-Net-Net-Working-Capital is ranked worse than 78.47% of 497
companies
in the Asset Management industry
Industry Median: 6.11
vs ISX:AMOR: 32.11
PT Ashmore Asset Management Indonesia Tbk (ISX:AMOR) 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.
PT Ashmore Asset Management Indonesia Tbk Net-Net Working Capital Related Terms
PT Ashmore Asset Management Indonesia Tbk 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.
PT Ashmore Asset Management Indonesia Tbk Net-Net Working Capital Chart
PT Ashmore Asset Management Indonesia Tbk Annual Data
ISX:AMOR vs BLK, BX, KKR: Net-Net Working Capital Comparison
For the Asset Management subindustry, PT Ashmore Asset Management Indonesia Tbk'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.
PT Ashmore Asset Management Indonesia Tbk Price-to-Net-Net-Working-Capital vs Asset Management Industry
For the Asset Management industry and Financial Services sector, PT Ashmore Asset Management Indonesia Tbk's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where PT Ashmore Asset Management Indonesia Tbk'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 Rp10.59 mean?
PT Ashmore Asset Management Indonesia Tbk (ISX:AMOR) has a Net-Net Working Capital of Rp10.59 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 PT Ashmore Asset Management Indonesia Tbk According to the industry distribution chart, PT Ashmore Asset Management Indonesia Tbk ranks #390 out of 497 companies in the Asset Management industry, placing it in the top 78.5%.
Is PT Ashmore Asset Management Indonesia Tbk's Net-Net Working Capital too high?
PT Ashmore Asset Management Indonesia Tbk's current Net-Net Working Capital is Rp10.59. Based on the distribution chart, PT Ashmore Asset Management Indonesia Tbk ranks #390 out of 497 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, PT Ashmore Asset Management Indonesia Tbk has a GF Score™ of 60/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does PT Ashmore Asset Management Indonesia Tbk's Net-Net Working Capital compare to BLK and BX?
According to the Asset Management industry distribution chart, PT Ashmore Asset Management Indonesia Tbk ranks #390 out of 497 companies for Net-Net Working Capital. This places PT Ashmore Asset Management Indonesia Tbk in the lower half of its industry. The industry median Net-Net Working Capital is 6.11. 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 Asset Management company?
The median Net-Net Working Capital among Asset Management companies is 6.11, based on 497 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 PT Ashmore Asset Management Indonesia Tbk For the Asset Management industry, the median Net-Net Working Capital is 6.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Ashmore Asset Management Indonesia Tbk's current Net-Net Working Capital is Rp10.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Ashmore Asset Management Indonesia Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Ashmore Asset Management Indonesia Tbk (ISX:AMOR) is currently considered Possible Value Trap. The stock's GF Value™ is Rp655.29, compared to a current price of Rp340.00 — trading 48.1% below its estimated fair value. The current Net-Net Working Capital is Rp10.59. PT Ashmore Asset Management Indonesia Tbk's overall GF Score™ is 60/100 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 PT Ashmore Asset Management Indonesia Tbk (ISX:AMOR), the current Net-Net Working Capital is Rp10.59 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 PT Ashmore Asset Management Indonesia Tbk (ISX:AMOR) Overvalued in 2026?
Based on GuruFocus' analysis, PT Ashmore Asset Management Indonesia Tbk stock appears to be undervalued.
The current stock price of Rp340.00 is trading 48.1% below its estimated GF Value™ of Rp655.29.
GuruFocus considers PT Ashmore Asset Management Indonesia Tbk to be Possible Value Trap.
Key valuation signals for ISX:AMOR:
Net-Net Working Capital: Rp10.59
GF Value™: Rp655.29 vs. price of Rp340.00 (48.1% below fair value)
No single metric tells the full story. See the ISX:AMOR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Ashmore Asset Management Indonesia Tbk is an investment management company. It focuses on a number of investment themes which includes External Debt, Local Currency, Corporate Debt, Equities, and Alternatives. It engages in the investment management service business, particularly in equity funds, bond mutual funds, mixed mutual funds, and money market funds sold to retail and institutional investors.
60GF Score
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