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MoonLake ImmunotherapeuticsMLTX -2.59%28 Net-Net Working Capital is $2.93 as of Mar. 2026. GuruFocus rates MLTX with a GF Score™ of 28/100. The stock has 3 warning signs investors should review. Among 858 Biotechnology companies, MoonLake Immunotherapeutics ranks worse than 57.93% 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.
The industry rank for MoonLake Immunotherapeutics's Net-Net Working Capital or its related term are showing as below:
MLTX's Price-to-Net-Net-Working-Capital is ranked worse than 57.93% of 858
companies
in the Biotechnology industry
Industry Median: 5.395
vs MLTX: 6.55
MoonLake Immunotherapeutics (NAS:MLTX) 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.
MoonLake Immunotherapeutics Net-Net Working Capital Related Terms
MoonLake Immunotherapeutics 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.
MoonLake Immunotherapeutics Net-Net Working Capital Chart
MLTX vs FTRE, SEPN, URGN: Net-Net Working Capital Comparison
For the Biotechnology subindustry, MoonLake Immunotherapeutics'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.
MoonLake Immunotherapeutics Price-to-Net-Net-Working-Capital vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, MoonLake Immunotherapeutics's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where MoonLake Immunotherapeutics'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 $2.93 mean?
MoonLake Immunotherapeutics (MLTX) has a Net-Net Working Capital of $2.93 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 MoonLake Immunotherapeutics According to the industry distribution chart, MoonLake Immunotherapeutics ranks #497 out of 858 companies in the Biotechnology industry, placing it in the top 57.9%.
Is MoonLake Immunotherapeutics' Net-Net Working Capital too high?
MoonLake Immunotherapeutics' current Net-Net Working Capital is $2.93. The Biotechnology industry median Net-Net Working Capital is 5.40. MoonLake Immunotherapeutics' value of $2.93 is 45.7% below this industry median. Based on the distribution chart, MoonLake Immunotherapeutics ranks #497 out of 858 companies in the Biotechnology industry, which is below the industry midpoint. Overall, MoonLake Immunotherapeutics has a GF Score™ of 28/100, reflecting its overall financial health beyond just this single metric.
How does MoonLake Immunotherapeutics' Net-Net Working Capital compare to FTRE and SEPN?
According to the Biotechnology industry distribution chart, MoonLake Immunotherapeutics ranks #497 out of 858 companies for Net-Net Working Capital. This places MoonLake Immunotherapeutics in the lower half of its industry. The industry median Net-Net Working Capital is 5.40. MoonLake Immunotherapeutics' value of $2.93 is 45.7% below this benchmark. 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 Biotechnology company?
The median Net-Net Working Capital among Biotechnology companies is 5.40, based on 858 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. MoonLake Immunotherapeutics's current Net-Net Working Capital of $2.93 is 45.7% below the industry median. 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 MoonLake Immunotherapeutics For the Biotechnology industry, the median Net-Net Working Capital is 5.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MoonLake Immunotherapeutics's current Net-Net Working Capital is $2.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MoonLake Immunotherapeutics stock overvalued right now?
MoonLake Immunotherapeutics (MLTX) has a current Net-Net Working Capital of $2.93. The current Net-Net Working Capital is $2.93 and 45.7% below the Biotechnology industry median of 5.40. MoonLake Immunotherapeutics' overall GF Score™ is 28/100 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 MoonLake Immunotherapeutics (MLTX), the current Net-Net Working Capital is $2.93 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.
MoonLake Immunotherapeutics is a clinical-stage biotechnology company advancing therapies to address unmet needs in inflammatory skin and joint diseases. The company is focused on the development of SLK, a novel tri-specific IL-17A and IL-17F inhibiting Nanobody that has the potential, based on response levels seen in clinical trials, to drive disease modification in dermatology and rheumatology patients. It is currently developing SLK in inflammatory diseases in dermatology and rheumatology where the pathophysiology is known to be driven by IL-17A and IL-17F.
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