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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.
The industry rank for Miramar Hotel & Investment Co's Net-Net Working Capital or its related term are showing as below:
MMHTF's Price-to-Net-Net-Working-Capital is ranked better than 91.3% of 207
companies
in the Travel & Leisure industry
Industry Median: 6.49
vs MMHTF: 1.25
Miramar Hotel & Investment Co (OTCPK:MMHTF) 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.
Miramar Hotel & Investment Co Net-Net Working Capital Related Terms
Miramar Hotel & Investment Co 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.
Miramar Hotel & Investment Co Net-Net Working Capital Chart
MMHTF vs BKNG, ABNB, RCL: Net-Net Working Capital Comparison
For the Travel Services subindustry, Miramar Hotel & Investment Co'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.
Miramar Hotel & Investment Co Price-to-Net-Net-Working-Capital vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Miramar Hotel & Investment Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Miramar Hotel & Investment Co'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 $1.04 mean?
Miramar Hotel & Investment Co (MMHTF) has a Net-Net Working Capital of $1.04 as of Dec. 2025. 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 Miramar Hotel & Investment Co According to the industry distribution chart, Miramar Hotel & Investment Co ranks #18 out of 207 companies in the Travel & Leisure industry, placing it in the top 8.7%.
Is Miramar Hotel & Investment Co's Net-Net Working Capital too high?
Miramar Hotel & Investment Co's current Net-Net Working Capital is $1.04. The Travel & Leisure industry median Net-Net Working Capital is 6.49. Miramar Hotel & Investment Co's value of $1.04 is 84% below this industry median. Based on the distribution chart, Miramar Hotel & Investment Co ranks #18 out of 207 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, Miramar Hotel & Investment Co has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does Miramar Hotel & Investment Co's Net-Net Working Capital compare to BKNG and ABNB?
According to the Travel & Leisure industry distribution chart, Miramar Hotel & Investment Co ranks #18 out of 207 companies for Net-Net Working Capital. This places Miramar Hotel & Investment Co in the top 9% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 6.49. Miramar Hotel & Investment Co's value of $1.04 is 84% 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 Travel & Leisure company?
The median Net-Net Working Capital among Travel & Leisure companies is 6.49, based on 207 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. Miramar Hotel & Investment Co's current Net-Net Working Capital of $1.04 is 84% 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 Miramar Hotel & Investment Co For the Travel & Leisure industry, the median Net-Net Working Capital is 6.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Miramar Hotel & Investment Co's current Net-Net Working Capital is $1.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Miramar Hotel & Investment Co stock overvalued right now?
Miramar Hotel & Investment Co (MMHTF) has a current Net-Net Working Capital of $1.04. The stock's GF Value™ is $1.37, compared to a current price of $1.27 — trading 7.3% below its estimated fair value. The current Net-Net Working Capital is $1.04 and 84% below the Travel & Leisure industry median of 6.49. Miramar Hotel & Investment Co's overall GF Score™ is 82/100 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 Miramar Hotel & Investment Co (MMHTF), the current Net-Net Working Capital is $1.04 as of Dec. 2025. 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 Miramar Hotel & Investment Co (MMHTF) Overvalued in 2026?
Based on GuruFocus' analysis, Miramar Hotel & Investment Co stock appears to be undervalued.
The current stock price of $1.27 is trading 7.3% below its estimated GF Value™ of $1.37.
Key valuation signals for MMHTF:
Net-Net Working Capital: $1.04
GF Value™: $1.37 vs. price of $1.27 (7.3% below fair value)
Industry Position: 84% below the Travel & Leisure median (#18 of 207)
No single metric tells the full story. See the MMHTF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Miramar Hotel & Investment Co Ltd is an investment holding company. Along with its subsidiaries it operates in five reportbale segments: Property rental, which includes leasing of office and retail premises to generate rental income and to gain from the appreciation in properties values in the long term; Hotels & serviced apartments segment operates hotels and serviced apartments and provides hotel management services; Food & beverage operation segment operates restaurants; Travel operation segment is engaged in providing travel agency services; and Others. Maximum revenue for the group is generated from the Travel operation segment. Geographically, it generates maximum revenue from the Hong Kong Special Administrative Region, followed by the People's Republic of China, and United Kingdom.
82GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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