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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 Panin Sekuritas Tbk's Net-Net Working Capital for the quarter that ended in Jun. 2026 was Rp-52.40.
The industry rank for PT Panin Sekuritas Tbk's Net-Net Working Capital or its related term are showing as below:
ISX:PANS's Price-to-Net-Net-Working-Capital is not ranked *
in the Capital Markets industry.
Industry Median: 4.55 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
PT Panin Sekuritas Tbk (ISX:PANS) 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 Panin Sekuritas Tbk Net-Net Working Capital Related Terms
PT Panin Sekuritas Tbk Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for PT Panin Sekuritas 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 Panin Sekuritas Tbk Net-Net Working Capital Chart
ISX:PANS vs MS, GS, SCHW: Net-Net Working Capital Comparison
For the Capital Markets subindustry, PT Panin Sekuritas 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 Panin Sekuritas Tbk Price-to-Net-Net-Working-Capital vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, PT Panin Sekuritas Tbk's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where PT Panin Sekuritas 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-52.40 mean?
PT Panin Sekuritas Tbk (ISX:PANS) has a Net-Net Working Capital of Rp-52.40 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 Panin Sekuritas Tbk According to the industry distribution chart, PT Panin Sekuritas Tbk ranks #999999 out of 278 companies in the Capital Markets industry.
Is PT Panin Sekuritas Tbk's Net-Net Working Capital too high?
PT Panin Sekuritas Tbk's current Net-Net Working Capital is Rp-52.40. Based on the distribution chart, PT Panin Sekuritas Tbk ranks #999999 out of 278 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, PT Panin Sekuritas Tbk has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Panin Sekuritas Tbk's Net-Net Working Capital compare to MS and GS?
According to the Capital Markets industry distribution chart, PT Panin Sekuritas Tbk ranks #999999 out of 278 companies for Net-Net Working Capital. This places PT Panin Sekuritas Tbk in the lower half of its industry. The industry median Net-Net Working Capital is 4.55. 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 Capital Markets company?
The median Net-Net Working Capital among Capital Markets companies is 4.55, based on 278 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 Panin Sekuritas Tbk For the Capital Markets industry, the median Net-Net Working Capital is 4.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Panin Sekuritas Tbk's current Net-Net Working Capital is Rp-52.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Panin Sekuritas Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Panin Sekuritas Tbk (ISX:PANS) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp1,939.01, compared to a current price of Rp1,545.00 — trading 20.3% below its estimated fair value. The current Net-Net Working Capital is Rp-52.40. PT Panin Sekuritas Tbk's overall GF Score™ is 80/100 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 Panin Sekuritas Tbk (ISX:PANS), the current Net-Net Working Capital is Rp-52.40 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 Panin Sekuritas Tbk (ISX:PANS) Overvalued in 2026?
Based on GuruFocus' analysis, PT Panin Sekuritas Tbk stock appears to be undervalued.
The current stock price of Rp1,545.00 is trading 20.3% below its estimated GF Value™ of Rp1,939.01.
GuruFocus considers PT Panin Sekuritas Tbk to be Modestly Undervalued.
Key valuation signals for ISX:PANS:
Net-Net Working Capital: Rp-52.40
GF Value™: Rp1,939.01 vs. price of Rp1,545.00 (20.3% below fair value)
No single metric tells the full story. See the ISX:PANS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Panin Sekuritas Tbk is engaged in the capital markets business sector. The company is engaged in providing services like broker dealing, corporate finance, asset management, research, online trading, Sharia online trading, education, and others. The operating segments of the company include Brokerage and underwriting and Investment manager and Other business activities. The company generates maximum revenue from the Brokerage and underwriting segment. The product line of the company consists of Panin News, trading ideas, recommendations, company reports, industrial reports, and others.
80GF Score
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