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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:STAR's Price-to-Net-Net-Working-Capital is ranked better than 69.22% of 497
companies
in the Asset Management industry
Industry Median: 6.17
vs ISX:STAR: 2.48
PT Calculus Global Ventures Tbk (ISX:STAR) 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 Calculus Global Ventures Tbk Net-Net Working Capital Related Terms
PT Calculus Global Ventures 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 Calculus Global Ventures Tbk Net-Net Working Capital Chart
ISX:STAR vs BLK, BX, KKR: Net-Net Working Capital Comparison
For the Asset Management subindustry, PT Calculus Global Ventures 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 Calculus Global Ventures Tbk Price-to-Net-Net-Working-Capital vs Asset Management Industry
For the Asset Management industry and Financial Services sector, PT Calculus Global Ventures Tbk's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where PT Calculus Global Ventures 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 Rp111.98 mean?
PT Calculus Global Ventures Tbk (ISX:STAR) has a Net-Net Working Capital of Rp111.98 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 Calculus Global Ventures Tbk According to the industry distribution chart, PT Calculus Global Ventures Tbk ranks #153 out of 497 companies in the Asset Management industry, placing it in the top 30.8%.
Is PT Calculus Global Ventures Tbk's Net-Net Working Capital too high?
PT Calculus Global Ventures Tbk's current Net-Net Working Capital is Rp111.98. Based on the distribution chart, PT Calculus Global Ventures Tbk ranks #153 out of 497 companies in the Asset Management industry, which is above the industry midpoint. Overall, PT Calculus Global Ventures Tbk has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT Calculus Global Ventures Tbk's Net-Net Working Capital compare to BLK and BX?
According to the Asset Management industry distribution chart, PT Calculus Global Ventures Tbk ranks #153 out of 497 companies for Net-Net Working Capital. This puts PT Calculus Global Ventures Tbk in the upper half of its industry. The industry median Net-Net Working Capital is 6.17. 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 Asset Management company?
The median Net-Net Working Capital among Asset Management companies is 6.17, based on 497 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 Calculus Global Ventures Tbk For the Asset Management industry, the median Net-Net Working Capital is 6.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Calculus Global Ventures Tbk's current Net-Net Working Capital is Rp111.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Calculus Global Ventures Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Calculus Global Ventures Tbk (ISX:STAR) is currently considered Significantly Overvalued. The stock's GF Value™ is Rp112.34, compared to a current price of Rp278.00 — trading 147.5% above its estimated fair value. The current Net-Net Working Capital is Rp111.98. PT Calculus Global Ventures Tbk's overall GF Score™ is 59/100 with 1 warning sign 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 Calculus Global Ventures Tbk (ISX:STAR), the current Net-Net Working Capital is Rp111.98 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 Calculus Global Ventures Tbk (ISX:STAR) Overvalued in 2026?
Based on GuruFocus' analysis, PT Calculus Global Ventures Tbk stock appears to be overvalued.
The current stock price of Rp278.00 is trading 147.5% above its estimated GF Value™ of Rp112.34.
GuruFocus considers PT Calculus Global Ventures Tbk to be Significantly Overvalued.
Key valuation signals for ISX:STAR:
Net-Net Working Capital: Rp111.98
GF Value™: Rp112.34 vs. price of Rp278.00 (147.5% above fair value)
No single metric tells the full story. See the ISX:STAR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Calculus Global Ventures Tbk Business Description
PT Calculus Global Ventures Tbk, formerly known as PT Buana Artha Anugerah Tbk, operates in the business area of investment management, particularly in asset management. The company is engaged in the management consulting business. The products of the company consist of mutual funds includes including foster equity fund, foster fixed income, and foster money market and management of securities portfolio. The company segments consist of investment management services and others.
59GF Score
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