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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.
PT MDS Retailing Tbk's Net-Net Working Capital for the quarter that ended in Jun. 2026 was Rp-2,965.12.
The industry rank for PT MDS Retailing Tbk's Net-Net Working Capital or its related term are showing as below:
ISX:LPPF's Price-to-Net-Net-Working-Capital is not ranked *
in the Retail - Cyclical industry.
Industry Median: 6.24 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
PT MDS Retailing Tbk (ISX:LPPF) 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 MDS Retailing Tbk Net-Net Working Capital Related Terms
PT MDS Retailing Tbk Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for PT MDS Retailing Tbk's Net-Net Working Capital can be seen below:
* 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 MDS Retailing Tbk Net-Net Working Capital Chart
ISX:LPPF vs DDS, M: Net-Net Working Capital Comparison
For the Department Stores subindustry, PT MDS Retailing 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 MDS Retailing Tbk Price-to-Net-Net-Working-Capital vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, PT MDS Retailing Tbk's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where PT MDS Retailing 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-2,965.12 mean?
PT MDS Retailing Tbk (ISX:LPPF) has a Net-Net Working Capital of Rp-2,965.12 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 MDS Retailing Tbk According to the industry distribution chart, PT MDS Retailing Tbk ranks #999999 out of 321 companies in the Retail - Cyclical industry.
Is PT MDS Retailing Tbk's Net-Net Working Capital too high?
PT MDS Retailing Tbk's current Net-Net Working Capital is Rp-2,965.12. Based on the distribution chart, PT MDS Retailing Tbk ranks #999999 out of 321 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, PT MDS Retailing Tbk has a GF Score™ of 87/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT MDS Retailing Tbk's Net-Net Working Capital compare to DDS and M?
According to the Retail - Cyclical industry distribution chart, PT MDS Retailing Tbk ranks #999999 out of 321 companies for Net-Net Working Capital. This places PT MDS Retailing Tbk in the lower half of its industry. The industry median Net-Net Working Capital is 6.24. 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 Retail - Cyclical company?
The median Net-Net Working Capital among Retail - Cyclical companies is 6.24, based on 321 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 MDS Retailing Tbk For the Retail - Cyclical industry, the median Net-Net Working Capital is 6.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT MDS Retailing Tbk's current Net-Net Working Capital is Rp-2,965.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT MDS Retailing Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT MDS Retailing Tbk (ISX:LPPF) is currently considered Modestly Overvalued. The stock's GF Value™ is Rp1,403.15, compared to a current price of Rp1,605.00 — trading 14.4% above its estimated fair value. The current Net-Net Working Capital is Rp-2,965.12. PT MDS Retailing Tbk's overall GF Score™ is 87/100 with 3 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 MDS Retailing Tbk (ISX:LPPF), the current Net-Net Working Capital is Rp-2,965.12 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 MDS Retailing Tbk (ISX:LPPF) Overvalued in 2026?
Based on GuruFocus' analysis, PT MDS Retailing Tbk stock appears to be overvalued.
The current stock price of Rp1,605.00 is trading 14.4% above its estimated GF Value™ of Rp1,403.15.
GuruFocus considers PT MDS Retailing Tbk to be Modestly Overvalued.
Key valuation signals for ISX:LPPF:
Net-Net Working Capital: Rp-2,965.12
GF Value™: Rp1,403.15 vs. price of Rp1,605.00 (14.4% above fair value)
No single metric tells the full story. See the ISX:LPPF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT MDS Retailing Tbk is an Indonesia-based retail company that operates a national chain of department stores and online channels under the Matahari brand. Its portfolio also includes: SUKO, ZES, and MU+KU, and a portfolio of private label brands, including Nevada, COLE, Connexion, Little M, and others. These brands cover a range of apparel categories, from casual and family essentials to more fashion-forward and contemporary styles.
87GF 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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