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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:SDPC's Price-to-Net-Net-Working-Capital is not ranked *
in the Medical Distribution industry.
Industry Median: 7.115 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
PT Millennium Pharmacon International Tbk (ISX:SDPC) 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 Millennium Pharmacon International Tbk Net-Net Working Capital Related Terms
PT Millennium Pharmacon International 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 Millennium Pharmacon International Tbk Net-Net Working Capital Chart
PT Millennium Pharmacon International Tbk Annual Data
ISX:SDPC vs MCK, COR, CAH: Net-Net Working Capital Comparison
For the Medical Distribution subindustry, PT Millennium Pharmacon International 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 Millennium Pharmacon International Tbk Price-to-Net-Net-Working-Capital vs Medical Distribution Industry
For the Medical Distribution industry and Healthcare sector, PT Millennium Pharmacon International Tbk's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where PT Millennium Pharmacon International 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-535.99 mean?
PT Millennium Pharmacon International Tbk (ISX:SDPC) has a Net-Net Working Capital of Rp-535.99 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 Millennium Pharmacon International Tbk According to the industry distribution chart, PT Millennium Pharmacon International Tbk ranks #999999 out of 28 companies in the Medical Distribution industry.
Is PT Millennium Pharmacon International Tbk's Net-Net Working Capital too high?
PT Millennium Pharmacon International Tbk's current Net-Net Working Capital is Rp-535.99. Based on the distribution chart, PT Millennium Pharmacon International Tbk ranks #999999 out of 28 companies in the Medical Distribution industry, which is in the bottom quartile relative to peers. Overall, PT Millennium Pharmacon International Tbk has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does PT Millennium Pharmacon International Tbk's Net-Net Working Capital compare to MCK and COR?
According to the Medical Distribution industry distribution chart, PT Millennium Pharmacon International Tbk ranks #999999 out of 28 companies for Net-Net Working Capital. This places PT Millennium Pharmacon International Tbk in the lower half of its industry. The industry median Net-Net Working Capital is 7.12. 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 Medical Distribution company?
The median Net-Net Working Capital among Medical Distribution companies is 7.12, based on 28 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 Millennium Pharmacon International Tbk For the Medical Distribution industry, the median Net-Net Working Capital is 7.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Millennium Pharmacon International Tbk's current Net-Net Working Capital is Rp-535.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Millennium Pharmacon International Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Millennium Pharmacon International Tbk (ISX:SDPC) is currently considered Fairly Valued. The stock's GF Value™ is Rp166.83, compared to a current price of Rp181.00 — trading 8.5% above its estimated fair value. The current Net-Net Working Capital is Rp-535.99. PT Millennium Pharmacon International Tbk's overall GF Score™ is 79/100 with 5 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 Millennium Pharmacon International Tbk (ISX:SDPC), the current Net-Net Working Capital is Rp-535.99 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 Millennium Pharmacon International Tbk (ISX:SDPC) Overvalued in 2026?
Based on GuruFocus' analysis, PT Millennium Pharmacon International Tbk stock appears to be overvalued.
The current stock price of Rp181.00 is trading 8.5% above its estimated GF Value™ of Rp166.83.
GuruFocus considers PT Millennium Pharmacon International Tbk to be Fairly Valued.
Key valuation signals for ISX:SDPC:
Net-Net Working Capital: Rp-535.99
GF Value™: Rp166.83 vs. price of Rp181.00 (8.5% above fair value)
No single metric tells the full story. See the ISX:SDPC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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PT Millennium Pharmacon International Tbk is engaged in distributing medicines, food supplements, and medical disposables. The group's operating segments are Prescription medicine, Non-prescription medicine, Medical Disposables, and others, of which the majority of revenue is derived from the Prescription Medicine segment. The company's geographical segments are Jawa, Sumatra, Kalimantan, Sulawesi, and Bali & Lombok.
79GF Score
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