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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:GSMF's Price-to-Net-Net-Working-Capital is not ranked *
in the Insurance industry.
Industry Median: 8.03 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
PT Equity Development Investment Tbk (ISX:GSMF) 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 Equity Development Investment Tbk Net-Net Working Capital Related Terms
PT Equity Development Investment 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 Equity Development Investment Tbk Net-Net Working Capital Chart
ISX:GSMF vs BRK.A, AIG, HIG: Net-Net Working Capital Comparison
For the Insurance - Diversified subindustry, PT Equity Development Investment 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 Equity Development Investment Tbk Price-to-Net-Net-Working-Capital vs Insurance Industry
For the Insurance industry and Financial Services sector, PT Equity Development Investment Tbk's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where PT Equity Development Investment 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 Rp-160.87 mean?
PT Equity Development Investment Tbk (ISX:GSMF) has a Net-Net Working Capital of Rp-160.87 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 Equity Development Investment Tbk According to the industry distribution chart, PT Equity Development Investment Tbk ranks #999999 out of 64 companies in the Insurance industry.
Is PT Equity Development Investment Tbk's Net-Net Working Capital too high?
PT Equity Development Investment Tbk's current Net-Net Working Capital is Rp-160.87. Based on the distribution chart, PT Equity Development Investment Tbk ranks #999999 out of 64 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, PT Equity Development Investment Tbk has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT Equity Development Investment Tbk's Net-Net Working Capital compare to BRK.A and AIG?
According to the Insurance industry distribution chart, PT Equity Development Investment Tbk ranks #999999 out of 64 companies for Net-Net Working Capital. This places PT Equity Development Investment Tbk in the lower half of its industry. The industry median Net-Net Working Capital is 8.03. 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 Insurance company?
The median Net-Net Working Capital among Insurance companies is 8.03, based on 64 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 Equity Development Investment Tbk For the Insurance industry, the median Net-Net Working Capital is 8.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Equity Development Investment Tbk's current Net-Net Working Capital is Rp-160.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Equity Development Investment Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Equity Development Investment Tbk (ISX:GSMF) is currently considered Significantly Overvalued. The stock's GF Value™ is Rp53.42, compared to a current price of Rp97.00 — trading 81.6% above its estimated fair value. The current Net-Net Working Capital is Rp-160.87. PT Equity Development Investment Tbk's overall GF Score™ is 57/100 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 Equity Development Investment Tbk (ISX:GSMF), the current Net-Net Working Capital is Rp-160.87 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 Equity Development Investment Tbk (ISX:GSMF) Overvalued in 2026?
Based on GuruFocus' analysis, PT Equity Development Investment Tbk stock appears to be overvalued.
The current stock price of Rp97.00 is trading 81.6% above its estimated GF Value™ of Rp53.42.
GuruFocus considers PT Equity Development Investment Tbk to be Significantly Overvalued.
Key valuation signals for ISX:GSMF:
Net-Net Working Capital: Rp-160.87
GF Value™: Rp53.42 vs. price of Rp97.00 (81.6% above fair value)
No single metric tells the full story. See the ISX:GSMF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Equity Development Investment Tbk is an Indonesia-based investment holding company engaged in the insurance business through its subsidiaries. It is also engaged in investment activities, management consulting services, and share investments, as well as training areas specifically for the Equity group. The company and its subsidiaries have categorized their business activity into four segments by the nature of the business, which include Holding company, travel services and venture capital, Banking and financing, Insurance, Stock administration and securities, out of which the majority of the revenue is generated from the Insurance segment. The company's geographical segments include Java Island and Outside Java Island.
57GF Score
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