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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:IFII's Price-to-Net-Net-Working-Capital is ranked worse than 90.28% of 72
companies
in the Forest Products industry
Industry Median: 4.225
vs ISX:IFII: 80.60
PT Indonesia Fibreboard Industry Tbk (ISX:IFII) 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 Indonesia Fibreboard Industry Tbk Net-Net Working Capital Related Terms
PT Indonesia Fibreboard Industry 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 Indonesia Fibreboard Industry Tbk Net-Net Working Capital Chart
ISX:IFII vs SSD, UFPI, BCC: Net-Net Working Capital Comparison
For the Lumber & Wood Production subindustry, PT Indonesia Fibreboard Industry 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 Indonesia Fibreboard Industry Tbk Price-to-Net-Net-Working-Capital vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, PT Indonesia Fibreboard Industry Tbk's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where PT Indonesia Fibreboard Industry 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 Rp2.68 mean?
PT Indonesia Fibreboard Industry Tbk (ISX:IFII) has a Net-Net Working Capital of Rp2.68 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 Indonesia Fibreboard Industry Tbk According to the industry distribution chart, PT Indonesia Fibreboard Industry Tbk ranks #65 out of 72 companies in the Forest Products industry, placing it in the top 90.3%.
Is PT Indonesia Fibreboard Industry Tbk's Net-Net Working Capital too high?
PT Indonesia Fibreboard Industry Tbk's current Net-Net Working Capital is Rp2.68. Based on the distribution chart, PT Indonesia Fibreboard Industry Tbk ranks #65 out of 72 companies in the Forest Products industry, which is in the bottom quartile relative to peers. Overall, PT Indonesia Fibreboard Industry Tbk has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does PT Indonesia Fibreboard Industry Tbk's Net-Net Working Capital compare to SSD and UFPI?
According to the Forest Products industry distribution chart, PT Indonesia Fibreboard Industry Tbk ranks #65 out of 72 companies for Net-Net Working Capital. This places PT Indonesia Fibreboard Industry Tbk in the lower half of its industry. The industry median Net-Net Working Capital is 4.23. 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 Forest Products company?
The median Net-Net Working Capital among Forest Products companies is 4.23, based on 72 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 Indonesia Fibreboard Industry Tbk For the Forest Products industry, the median Net-Net Working Capital is 4.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Indonesia Fibreboard Industry Tbk's current Net-Net Working Capital is Rp2.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Indonesia Fibreboard Industry Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Indonesia Fibreboard Industry Tbk (ISX:IFII) is currently considered Fairly Valued. The stock's GF Value™ is Rp213.30, compared to a current price of Rp216.00 — trading 1.3% above its estimated fair value. The current Net-Net Working Capital is Rp2.68. PT Indonesia Fibreboard Industry Tbk's overall GF Score™ is 85/100 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 Indonesia Fibreboard Industry Tbk (ISX:IFII), the current Net-Net Working Capital is Rp2.68 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 Indonesia Fibreboard Industry Tbk (ISX:IFII) Overvalued in 2026?
Based on GuruFocus' analysis, PT Indonesia Fibreboard Industry Tbk stock appears to be overvalued.
The current stock price of Rp216.00 is trading 1.3% above its estimated GF Value™ of Rp213.30.
GuruFocus considers PT Indonesia Fibreboard Industry Tbk to be Fairly Valued.
Key valuation signals for ISX:IFII:
Net-Net Working Capital: Rp2.68
GF Value™: Rp213.30 vs. price of Rp216.00 (1.3% above fair value)
No single metric tells the full story. See the ISX:IFII stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Indonesia Fibreboard Industry Tbk Business Description
PT Indonesia Fibreboard Industry Tbk is a wood processing company developing a variety of processed wood such as veneer and plywood. Its product portfolio includes High-Density Fireboard, Medium Density Fireboard, Low-Density Fireboard, High Moisture Resistance, Plywood, Plywood MDF, MDF Laminate Paper, and Veneer. Its segments include Japan MDF, Regular MDF, Middle East MDF, and Others. A vast majority of its revenues are derived from Middle East MDF segment.
85GF Score
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