Ginebran MiguelPHS:GSMI 88 Net-Net Working Capital is ₱39.45 as of Mar. 2026. GuruFocus rates PHS:GSMI with a GF Score™ of 88/100 and a GF Value™ of ₱296.73 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 66 Beverages - Alcoholic companies, Ginebran Miguel ranks better than 54.55% 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.
Ginebran Miguel's Net-Net Working Capital for the quarter that ended in Mar. 2026 was ₱39.45.
The industry rank for Ginebran Miguel's Net-Net Working Capital or its related term are showing as below:
PHS:GSMI's Price-to-Net-Net-Working-Capital is ranked better than 54.55% of 66
companies
in the Beverages - Alcoholic industry
Industry Median: 7.71
vs PHS:GSMI: 6.41
Ginebran Miguel (PHS:GSMI) 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.
Ginebran Miguel Net-Net Working Capital Related Terms
Ginebran Miguel Net-Net Working Capital Historical Data
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The historical data trend for Ginebran Miguel'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.
PHS:GSMI vs BF.B: Net-Net Working Capital Comparison
For the Beverages - Wineries & Distilleries subindustry, Ginebran Miguel'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.
Ginebran Miguel Price-to-Net-Net-Working-Capital vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Ginebran Miguel's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Ginebran Miguel'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 ₱39.45 mean?
Ginebran Miguel (PHS:GSMI) has a Net-Net Working Capital of ₱39.45 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 Ginebran Miguel According to the industry distribution chart, Ginebran Miguel ranks #30 out of 66 companies in the Beverages - Alcoholic industry, placing it in the top 45.5%.
Is Ginebran Miguel's Net-Net Working Capital too high?
Ginebran Miguel's current Net-Net Working Capital is ₱39.45. Based on the distribution chart, Ginebran Miguel ranks #30 out of 66 companies in the Beverages - Alcoholic industry, which is above the industry midpoint. Overall, Ginebran Miguel has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ginebran Miguel's Net-Net Working Capital compare to BF.B?
According to the Beverages - Alcoholic industry distribution chart, Ginebran Miguel ranks #30 out of 66 companies for Net-Net Working Capital. This puts Ginebran Miguel in the upper half of its industry. The industry median Net-Net Working Capital is 7.71. 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 Beverages - Alcoholic company?
The median Net-Net Working Capital among Beverages - Alcoholic companies is 7.71, based on 66 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 Ginebran Miguel For the Beverages - Alcoholic industry, the median Net-Net Working Capital is 7.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ginebran Miguel's current Net-Net Working Capital is ₱39.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ginebran Miguel stock overvalued right now?
Based on GuruFocus' analysis, Ginebran Miguel (PHS:GSMI) is currently considered Modestly Undervalued. The stock's GF Value™ is ₱296.73, compared to a current price of ₱253.00 — trading 14.7% below its estimated fair value. The current Net-Net Working Capital is ₱39.45. Ginebran Miguel's overall GF Score™ is 88/100 with 1 warning sign 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 Ginebran Miguel (PHS:GSMI), the current Net-Net Working Capital is ₱39.45 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 Ginebran Miguel (PHS:GSMI) Overvalued in 2026?
Based on GuruFocus' analysis, Ginebran Miguel stock appears to be undervalued.
The current stock price of ₱253.00 is trading 14.7% below its estimated GF Value™ of ₱296.73.
GuruFocus considers Ginebran Miguel to be Modestly Undervalued.
Key valuation signals for PHS:GSMI:
Net-Net Working Capital: ₱39.45
GF Value™: ₱296.73 vs. price of ₱253.00 (14.7% below fair value)
No single metric tells the full story. See the PHS:GSMI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ginebra San Miguel Inc manufactures and sells alcoholic beverages in the Philippines. It offers alcoholic beverages, under the following brand names: Ginebra San Miguel gin, GSM Blue, GSM Blue Flavors, Ginebra San Miguel Premium Gin, Antonov Vodka, Primera Light Brandy, Vino Kulafu, and Antonov vodka.
88GF Score
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