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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 PT Hanjaya Mandalampoerna Tbk's Net-Net Working Capital or its related term are showing as below:
PHJMF's Price-to-Net-Net-Working-Capital is not ranked *
in the Tobacco Products industry.
Industry Median: 9.66 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
PT Hanjaya Mandalampoerna Tbk (OTCPK:PHJMF) 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.
PT Hanjaya Mandalampoerna Tbk Net-Net Working Capital Related Terms
PT Hanjaya Mandalampoerna Tbk 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.
PT Hanjaya Mandalampoerna Tbk Net-Net Working Capital Chart
PHJMF vs PM, MO, TPB: Net-Net Working Capital Comparison
For the Tobacco subindustry, PT Hanjaya Mandalampoerna Tbk'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.
PT Hanjaya Mandalampoerna Tbk Price-to-Net-Net-Working-Capital vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, PT Hanjaya Mandalampoerna Tbk's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where PT Hanjaya Mandalampoerna Tbk'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?
PT Hanjaya Mandalampoerna Tbk (PHJMF) has a Net-Net Working Capital of $0.00 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 PT Hanjaya Mandalampoerna Tbk According to the industry distribution chart, PT Hanjaya Mandalampoerna Tbk ranks #999999 out of 19 companies in the Tobacco Products industry.
Is PT Hanjaya Mandalampoerna Tbk's Net-Net Working Capital too high?
PT Hanjaya Mandalampoerna Tbk's current Net-Net Working Capital is $0.00. Based on the distribution chart, PT Hanjaya Mandalampoerna Tbk ranks #999999 out of 19 companies in the Tobacco Products industry, which is in the bottom quartile relative to peers. Overall, PT Hanjaya Mandalampoerna Tbk has a GF Score™ of 92/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Hanjaya Mandalampoerna Tbk's Net-Net Working Capital compare to PM and MO?
According to the Tobacco Products industry distribution chart, PT Hanjaya Mandalampoerna Tbk ranks #999999 out of 19 companies for Net-Net Working Capital. This places PT Hanjaya Mandalampoerna Tbk in the lower half of its industry. The industry median Net-Net Working Capital is 9.66. 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 Tobacco Products company?
The median Net-Net Working Capital among Tobacco Products companies is 9.66, based on 19 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 PT Hanjaya Mandalampoerna Tbk For the Tobacco Products industry, the median Net-Net Working Capital is 9.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Hanjaya Mandalampoerna Tbk'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 PT Hanjaya Mandalampoerna Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Hanjaya Mandalampoerna Tbk (PHJMF) is currently considered Modestly Undervalued. The stock's GF Value™ is $0.05, compared to a current price of $0.04 — trading 14% below its estimated fair value. The current Net-Net Working Capital is $0.00. PT Hanjaya Mandalampoerna Tbk's overall GF Score™ is 92/100 with 5 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 PT Hanjaya Mandalampoerna Tbk (PHJMF), the current Net-Net Working Capital is $0.00 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 PT Hanjaya Mandalampoerna Tbk (PHJMF) Overvalued in 2026?
Based on GuruFocus' analysis, PT Hanjaya Mandalampoerna Tbk stock appears to be undervalued.
The current stock price of $0.04 is trading 14% below its estimated GF Value™ of $0.05.
GuruFocus considers PT Hanjaya Mandalampoerna Tbk to be Modestly Undervalued.
Key valuation signals for PHJMF:
Net-Net Working Capital: $0.00
GF Value™: $0.05 vs. price of $0.04 (14% below fair value)
No single metric tells the full story. See the PHJMF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Hanjaya Mandala Sampoerna Tbk is an Indonesian tobacco company. The company produces a number of brands of cigarettes and is well known, such as Sampoerna A, Sampoerna Kretek, Malboro, Magnum, Dji Sam Soe, and others. The scope of activities of the company comprises, among others manufacturing, trading, and distributing cigarettes. The company's flagship brand is Dji Sam Soe Kretek.
92GF Score
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