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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.
National Bank Of Malawi's Net-Net Working Capital for the quarter that ended in Jun. 2026 was MWK-3,806.66.
The industry rank for National Bank Of Malawi's Net-Net Working Capital or its related term are showing as below:
MSW:NBM's Price-to-Net-Net-Working-Capital is not ranked *
in the Banks industry.
Industry Median: 2.07 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
National Bank Of Malawi (MSW:NBM) 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.
National Bank Of Malawi Net-Net Working Capital Related Terms
National Bank Of Malawi Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for National Bank Of Malawi'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.
National Bank Of Malawi Net-Net Working Capital Chart
MSW:NBM vs USB, PNC: Net-Net Working Capital Comparison
For the Banks - Regional subindustry, National Bank Of Malawi'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.
National Bank Of Malawi Price-to-Net-Net-Working-Capital vs Banks Industry
For the Banks industry and Financial Services sector, National Bank Of Malawi's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where National Bank Of Malawi'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 MWK-3,806.66 mean?
National Bank Of Malawi (MSW:NBM) has a Net-Net Working Capital of MWK-3,806.66 as of Jun. 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 National Bank Of Malawi According to the industry distribution chart, National Bank Of Malawi ranks #999999 out of 9 companies in the Banks industry.
Is National Bank Of Malawi's Net-Net Working Capital too high?
National Bank Of Malawi's current Net-Net Working Capital is MWK-3,806.66. Based on the distribution chart, National Bank Of Malawi ranks #999999 out of 9 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, National Bank Of Malawi has a GF Score™ of 100/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does National Bank Of Malawi's Net-Net Working Capital compare to USB and PNC?
According to the Banks industry distribution chart, National Bank Of Malawi ranks #999999 out of 9 companies for Net-Net Working Capital. This places National Bank Of Malawi in the lower half of its industry. The industry median Net-Net Working Capital is 2.07. 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 Banks company?
The median Net-Net Working Capital among Banks companies is 2.07, based on 9 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 National Bank Of Malawi For the Banks industry, the median Net-Net Working Capital is 2.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Bank Of Malawi's current Net-Net Working Capital is MWK-3,806.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Bank Of Malawi stock overvalued right now?
Based on GuruFocus' analysis, National Bank Of Malawi (MSW:NBM) is currently considered Modestly Undervalued. The stock's GF Value™ is MWK11,261.97, compared to a current price of MWK9,249.89 — trading 17.9% below its estimated fair value. The current Net-Net Working Capital is MWK-3,806.66. National Bank Of Malawi's overall GF Score™ is 100/100 with 2 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 National Bank Of Malawi (MSW:NBM), the current Net-Net Working Capital is MWK-3,806.66 as of Jun. 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 National Bank Of Malawi (MSW:NBM) Overvalued in 2026?
Based on GuruFocus' analysis, National Bank Of Malawi stock appears to be undervalued.
The current stock price of MWK9,249.89 is trading 17.9% below its estimated GF Value™ of MWK11,261.97.
GuruFocus considers National Bank Of Malawi to be Modestly Undervalued.
Key valuation signals for MSW:NBM:
Net-Net Working Capital: MWK-3,806.66
GF Value™: MWK11,261.97 vs. price of MWK9,249.89 (17.9% below fair value)
No single metric tells the full story. See the MSW:NBM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Bank Of Malawi PLC provides personal, corporate, and investment banking as well as stockbroking, insurance, and pension administration services in Malawi. Its business operations are divided into three segments including Retail and corporate banking that incorporates savings, deposits, investment savings products, consumer loans, current accounts, overdrafts, loans, and other credit facilities, trade finance, and corporate leasing; Treasury segment offers financial instruments trading, dealings in foreign currency, stock broking and derivative products; and Other operations comprising fund management, custodial services and providing training services. Revenue from Retail and corporate banking is one of the majority sources of income for the Bank.
100GF Score
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