Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
NSE:MCX's Price-to-Net-Net-Working-Capital is not ranked *
in the Capital Markets industry.
Industry Median: 4.74 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Multi Commodity Exchange of India (NSE:MCX) 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.
Multi Commodity Exchange of India Net-Net Working Capital Related Terms
Multi Commodity Exchange of India 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.
Multi Commodity Exchange of India Net-Net Working Capital Chart
NSE:MCX vs SPGI, CME, ICE: Net-Net Working Capital Comparison
For the Financial Data & Stock Exchanges subindustry, Multi Commodity Exchange of India'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.
Multi Commodity Exchange of India Price-to-Net-Net-Working-Capital vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Multi Commodity Exchange of India's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Multi Commodity Exchange of India'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 ₹0.00 mean?
Multi Commodity Exchange of India (NSE:MCX) has a Net-Net Working Capital of ₹0.00 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 Multi Commodity Exchange of India According to the industry distribution chart, Multi Commodity Exchange of India ranks #999999 out of 274 companies in the Capital Markets industry.
Is Multi Commodity Exchange of India's Net-Net Working Capital too high?
Multi Commodity Exchange of India's current Net-Net Working Capital is ₹0.00. Based on the distribution chart, Multi Commodity Exchange of India ranks #999999 out of 274 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Multi Commodity Exchange of India has a GF Score™ of 95/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Multi Commodity Exchange of India's Net-Net Working Capital compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Multi Commodity Exchange of India ranks #999999 out of 274 companies for Net-Net Working Capital. This places Multi Commodity Exchange of India in the lower half of its industry. The industry median Net-Net Working Capital is 4.74. 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 Capital Markets company?
The median Net-Net Working Capital among Capital Markets companies is 4.74, based on 274 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 Multi Commodity Exchange of India For the Capital Markets industry, the median Net-Net Working Capital is 4.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Multi Commodity Exchange of India's current Net-Net Working Capital is ₹0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Multi Commodity Exchange of India stock overvalued right now?
Based on GuruFocus' analysis, Multi Commodity Exchange of India (NSE:MCX) is currently considered Fairly Valued. The stock's GF Value™ is ₹3,740.40, compared to a current price of ₹3,400.00 — trading 9.1% below its estimated fair value. The current Net-Net Working Capital is ₹0.00. Multi Commodity Exchange of India's overall GF Score™ is 95/100 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 Multi Commodity Exchange of India (NSE:MCX), the current Net-Net Working Capital is ₹0.00 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 Multi Commodity Exchange of India (NSE:MCX) Overvalued in 2026?
Based on GuruFocus' analysis, Multi Commodity Exchange of India stock appears to be undervalued.
The current stock price of ₹3,400.00 is trading 9.1% below its estimated GF Value™ of ₹3,740.40.
GuruFocus considers Multi Commodity Exchange of India to be Fairly Valued.
Key valuation signals for NSE:MCX:
Net-Net Working Capital: ₹0.00
GF Value™: ₹3,740.40 vs. price of ₹3,400.00 (9.1% below fair value)
No single metric tells the full story. See the NSE:MCX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Multi Commodity Exchange of India Ltd is an India-based deemed Stock Exchange recognized under the Securities Contracts (Regulation) Act, 1956. The company facilitates online trading, and clearing and settlement of commodity futures transactions, thereby providing a platform for risk management. The company is a demutualized Exchange and has permanent recognition from the Government of India to facilitate nationwide online trading, clearing, and settlement operations of commodity derivatives. The company derives its revenues from transaction fees, admission fees, annual subscription fees, terminal charges, connectivity income, interest income, dividends from and gains on the sale of investments and other miscellaneous income.
95GF Score
Get the complete analysis for NSE:MCX
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:MCX has been successfully added to your 
