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E Media HoldingsJSE:EMH 59 Net-Net Working Capital is R-1.79 as of Mar. 2026. GuruFocus rates JSE:EMH with a GF Score™ of 59/100 and a GF Value™ of R2.34 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 388 Media - Diversified companies, E Media Holdings ranks worse than 257731.7% on this metric.
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.
E Media Holdings's Net-Net Working Capital for the quarter that ended in Mar. 2026 was R-1.79.
The industry rank for E Media Holdings's Net-Net Working Capital or its related term are showing as below:
JSE:EMH's Price-to-Net-Net-Working-Capital is not ranked *
in the Media - Diversified industry.
Industry Median: 4.475 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
E Media Holdings (JSE:EMH) 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.
E Media Holdings Net-Net Working Capital Related Terms
E Media Holdings Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for E Media Holdings'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.
JSE:EMH vs NFLX, DIS, WBD: Net-Net Working Capital Comparison
For the Entertainment subindustry, E Media Holdings'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.
E Media Holdings Price-to-Net-Net-Working-Capital vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, E Media Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where E Media Holdings'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 R-1.79 mean?
E Media Holdings (JSE:EMH) has a Net-Net Working Capital of R-1.79 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 E Media Holdings According to the industry distribution chart, E Media Holdings ranks #999999 out of 388 companies in the Media - Diversified industry.
Is E Media Holdings' Net-Net Working Capital too high?
E Media Holdings' current Net-Net Working Capital is R-1.79. Based on the distribution chart, E Media Holdings ranks #999999 out of 388 companies in the Media - Diversified industry, which is in the bottom quartile relative to peers. Overall, E Media Holdings has a GF Score™ of 59/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does E Media Holdings' Net-Net Working Capital compare to NFLX and DIS?
According to the Media - Diversified industry distribution chart, E Media Holdings ranks #999999 out of 388 companies for Net-Net Working Capital. This places E Media Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 4.48. 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 Media - Diversified company?
The median Net-Net Working Capital among Media - Diversified companies is 4.48, based on 388 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 E Media Holdings For the Media - Diversified industry, the median Net-Net Working Capital is 4.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. E Media Holdings's current Net-Net Working Capital is R-1.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is E Media Holdings stock overvalued right now?
Based on GuruFocus' analysis, E Media Holdings (JSE:EMH) is currently considered Modestly Undervalued. The stock's GF Value™ is R2.34, compared to a current price of R1.94 — trading 17.1% below its estimated fair value. The current Net-Net Working Capital is R-1.79. E Media Holdings' overall GF Score™ is 59/100 with 4 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 E Media Holdings (JSE:EMH), the current Net-Net Working Capital is R-1.79 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 E Media Holdings (JSE:EMH) Overvalued in 2026?
Based on GuruFocus' analysis, E Media Holdings stock appears to be undervalued.
The current stock price of R1.94 is trading 17.1% below its estimated GF Value™ of R2.34.
GuruFocus considers E Media Holdings to be Modestly Undervalued.
Key valuation signals for JSE:EMH:
Net-Net Working Capital: R-1.79
GF Value™: R2.34 vs. price of R1.94 (17.1% below fair value)
No single metric tells the full story. See the JSE:EMH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
E Media Holdings Ltd is a South Africa-based investment holding company. Through its subsidiaries, it is predominantly engaged in the media and entertainment business. The company product portfolio includes products and services like E.TV a free-to-air commercial television channel; eNCA, a 24-hour news channel; OpenView HD and YFM, a radio station that targets the youth market, and others. In addition, the company also provides property and facilities services, including broadcast and television studios, post-production facilities, equipment rental, and sales; as well as holds investments in the television broadcasting and content creation sectors. A majority of its revenue is earned from the South African market.
59GF Score
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