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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:DIVA's Price-to-Net-Net-Working-Capital is ranked better than 95.61% of 1229
companies
in the Software industry
Industry Median: 7.07
vs ISX:DIVA: 1.20
PT Distribusi Voucher Nusantara Tbk (ISX:DIVA) 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 Distribusi Voucher Nusantara Tbk Net-Net Working Capital Related Terms
PT Distribusi Voucher Nusantara 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 Distribusi Voucher Nusantara Tbk Net-Net Working Capital Chart
ISX:DIVA vs CRM, SHOP, UBER: Net-Net Working Capital Comparison
For the Software - Application subindustry, PT Distribusi Voucher Nusantara 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 Distribusi Voucher Nusantara Tbk Price-to-Net-Net-Working-Capital vs Software Industry
For the Software industry and Technology sector, PT Distribusi Voucher Nusantara Tbk's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where PT Distribusi Voucher Nusantara 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 Rp115.16 mean?
PT Distribusi Voucher Nusantara Tbk (ISX:DIVA) has a Net-Net Working Capital of Rp115.16 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 PT Distribusi Voucher Nusantara Tbk According to the industry distribution chart, PT Distribusi Voucher Nusantara Tbk ranks #54 out of 1229 companies in the Software industry, placing it in the top 4.4%.
Is PT Distribusi Voucher Nusantara Tbk's Net-Net Working Capital too high?
PT Distribusi Voucher Nusantara Tbk's current Net-Net Working Capital is Rp115.16. Based on the distribution chart, PT Distribusi Voucher Nusantara Tbk ranks #54 out of 1229 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, PT Distribusi Voucher Nusantara Tbk has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT Distribusi Voucher Nusantara Tbk's Net-Net Working Capital compare to CRM and SHOP?
According to the Software industry distribution chart, PT Distribusi Voucher Nusantara Tbk ranks #54 out of 1229 companies for Net-Net Working Capital. This places PT Distribusi Voucher Nusantara Tbk in the top 4% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 7.07. 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 Software company?
The median Net-Net Working Capital among Software companies is 7.07, based on 1,229 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 Distribusi Voucher Nusantara Tbk For the Software industry, the median Net-Net Working Capital is 7.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Distribusi Voucher Nusantara Tbk's current Net-Net Working Capital is Rp115.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Distribusi Voucher Nusantara Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Distribusi Voucher Nusantara Tbk (ISX:DIVA) is currently considered Significantly Overvalued. The stock's GF Value™ is Rp105.12, compared to a current price of Rp138.00 — trading 31.3% above its estimated fair value. The current Net-Net Working Capital is Rp115.16. PT Distribusi Voucher Nusantara Tbk's overall GF Score™ is 75/100 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 PT Distribusi Voucher Nusantara Tbk (ISX:DIVA), the current Net-Net Working Capital is Rp115.16 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 PT Distribusi Voucher Nusantara Tbk (ISX:DIVA) Overvalued in 2026?
Based on GuruFocus' analysis, PT Distribusi Voucher Nusantara Tbk stock appears to be overvalued.
The current stock price of Rp138.00 is trading 31.3% above its estimated GF Value™ of Rp105.12.
GuruFocus considers PT Distribusi Voucher Nusantara Tbk to be Significantly Overvalued.
Key valuation signals for ISX:DIVA:
Net-Net Working Capital: Rp115.16
GF Value™: Rp105.12 vs. price of Rp138.00 (31.3% above fair value)
No single metric tells the full story. See the ISX:DIVA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Distribusi Voucher Nusantara Tbk provides business-to-business and business-to-customer software solutions. The company's operating segment includes Digital Products and Services including telecommunication pulses, internet data packages, electricity tokens, e-vouchers, travel products, and digital payment services , Digital Financial Services, Tour and Travel, and Other Revenue from the Ecosystem. It generates maximum revenue from the Digital products and services segment. The company's products include Diva Intelligent IM and Diva Chat Commerce.
75GF 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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