Philippine EstatesPHS:PHES 45 Net-Net Working Capital is ₱0.13 as of Mar. 2026. GuruFocus rates PHS:PHES with a GF Score™ of 45/100 and a GF Value™ of ₱0.25 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 330 Real Estate companies, Philippine Estates ranks better than 57.58% 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.
Philippine Estates's Net-Net Working Capital for the quarter that ended in Mar. 2026 was ₱0.13.
The industry rank for Philippine Estates's Net-Net Working Capital or its related term are showing as below:
PHS:PHES's Price-to-Net-Net-Working-Capital is ranked better than 57.58% of 330
companies
in the Real Estate industry
Industry Median: 4.7
vs PHS:PHES: 3.46
Philippine Estates (PHS:PHES) 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.
Philippine Estates Net-Net Working Capital Related Terms
Philippine Estates Net-Net Working Capital Historical Data
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The historical data trend for Philippine Estates'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:PHES vs CBRE, BEKE, JLL: Net-Net Working Capital Comparison
For the Real Estate Services subindustry, Philippine Estates'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.
Philippine Estates Price-to-Net-Net-Working-Capital vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Philippine Estates's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Philippine Estates'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 ₱0.13 mean?
Philippine Estates (PHS:PHES) has a Net-Net Working Capital of ₱0.13 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 Philippine Estates According to the industry distribution chart, Philippine Estates ranks #140 out of 330 companies in the Real Estate industry, placing it in the top 42.4%.
Is Philippine Estates' Net-Net Working Capital too high?
Philippine Estates' current Net-Net Working Capital is ₱0.13. Based on the distribution chart, Philippine Estates ranks #140 out of 330 companies in the Real Estate industry, which is above the industry midpoint. Overall, Philippine Estates has a GF Score™ of 45/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Philippine Estates' Net-Net Working Capital compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Philippine Estates ranks #140 out of 330 companies for Net-Net Working Capital. This puts Philippine Estates in the upper half of its industry. The industry median Net-Net Working Capital is 4.70. 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 Real Estate company?
The median Net-Net Working Capital among Real Estate companies is 4.70, based on 330 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 Philippine Estates For the Real Estate industry, the median Net-Net Working Capital is 4.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Philippine Estates's current Net-Net Working Capital is ₱0.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Philippine Estates stock overvalued right now?
Based on GuruFocus' analysis, Philippine Estates (PHS:PHES) is currently considered Significantly Overvalued. The stock's GF Value™ is ₱0.25, compared to a current price of ₱0.45 — trading 80% above its estimated fair value. The current Net-Net Working Capital is ₱0.13. Philippine Estates' overall GF Score™ is 45/100 with 7 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 Philippine Estates (PHS:PHES), the current Net-Net Working Capital is ₱0.13 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 Philippine Estates (PHS:PHES) Overvalued in 2026?
Based on GuruFocus' analysis, Philippine Estates stock appears to be overvalued.
The current stock price of ₱0.45 is trading 80% above its estimated GF Value™ of ₱0.25.
GuruFocus considers Philippine Estates to be Significantly Overvalued.
Key valuation signals for PHS:PHES:
Net-Net Working Capital: ₱0.13
GF Value™: ₱0.25 vs. price of ₱0.45 (80% above fair value)
No single metric tells the full story. See the PHS:PHES stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Philippine Estates Corp is principally engaged in the business of holding and developing real estate or other properties for industrial, commercial, residential, leisure or sports purposes, and in pursuance thereof, to acquire by purchase, lease or otherwise, real estate and/or appurtenant properties and/or interest therein. The Group classifies business segments based on location of its real property projects as in the following geographical areas: a) Metro Manila: industrial park and condominium projects, b) Bulacan: subdivision, mixed use, c) Other Luzon Areas such as Cavite: subdivision development, d) Cebu: subdivision, mixed use and condominium projects, e) Iloilo: subdivision, mixed use and condominium projects, f) Davao: administrative office. Key revenue is derived from Iloilo.
45GF Score
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