PMDIY (Pro Medicus) Net-Net Working Capital: $0.17 (As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

PMDIY Pro Medicus Ltd PMDIY
77 GF Score
Price $29.51
GF Value $40.27
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Pro Medicus Net-Net Working Capital?

Pro Medicus PMDIY 77 Net-Net Working Capital is $0.17 as of Dec. 2025. GuruFocus rates PMDIY with a GF Score™ of 77/100 and a GF Value™ of $40.27 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 195 Healthcare Providers & Services companies, Pro Medicus ranks worse than 97.44% 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.

Pro Medicus's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $0.17.

The industry rank for Pro Medicus's Net-Net Working Capital or its related term are showing as below:

PMDIY's Price-to-Net-Net-Working-Capital is ranked worse than
97.44% of 195 companies
in the Healthcare Providers & Services industry
Industry Median: 7.57 vs PMDIY: 140.52

Pro Medicus  (OTCPK:PMDIY) 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.


Pro Medicus Net-Net Working Capital Related Terms


Pro Medicus Net-Net Working Capital Historical Data

* Premium members only.

The historical data trend for Pro Medicus'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.

Pro Medicus Net-Net Working Capital Chart

Pro Medicus Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.05 0.08 0.11 0.15 0.22

Pro Medicus Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Net-Net Working Capital Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.14 0.15 0.18 0.22 0.17

PMDIY vs VEEV, BTSG, TEM: Net-Net Working Capital Comparison

For the Health Information Services subindustry, Pro Medicus'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.


Pro Medicus Price-to-Net-Net-Working-Capital vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Pro Medicus's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Pro Medicus's Price-to-Net-Net-Working-Capital falls into.


PMDIY
77GF Score
Pro Medicus Ltd PMDIY
Net-Net Working Capital is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pro Medicus Net-Net Working Capital Calculation

Pro Medicus's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jun. 2025 is calculated as

Net-Net Working Capital(A: Jun. 2025 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(136.188+0.75 * 41.712+0.5 * 0.064-53.217
-0-0)/522.315
=0.22

Pro Medicus's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2025 is calculated as

Net-Net Working Capital(Q: Dec. 2025 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(148.563+0.75 * 50.517+0.5 * 0.056-96.336
-0-0)/522.554
=0.17

* 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 $0.17 mean?
Pro Medicus (PMDIY) has a Net-Net Working Capital of $0.17 as of Dec. 2025. 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 Pro Medicus According to the industry distribution chart, Pro Medicus ranks #190 out of 195 companies in the Healthcare Providers & Services industry, placing it in the top 97.4%.
Is Pro Medicus' Net-Net Working Capital too high?
Pro Medicus' current Net-Net Working Capital is $0.17. The Healthcare Providers & Services industry median Net-Net Working Capital is 7.57. Pro Medicus' value of $0.17 is 97.8% below this industry median. Based on the distribution chart, Pro Medicus ranks #190 out of 195 companies in the Healthcare Providers & Services industry, which is in the bottom quartile relative to peers. Overall, Pro Medicus has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Pro Medicus' Net-Net Working Capital compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, Pro Medicus ranks #190 out of 195 companies for Net-Net Working Capital. This places Pro Medicus in the lower half of its industry. The industry median Net-Net Working Capital is 7.57. Pro Medicus' value of $0.17 is 97.8% below this benchmark. 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 Healthcare Providers & Services company?
The median Net-Net Working Capital among Healthcare Providers & Services companies is 7.57, based on 195 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. Pro Medicus's current Net-Net Working Capital of $0.17 is 97.8% below the industry median. 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 Pro Medicus For the Healthcare Providers & Services industry, the median Net-Net Working Capital is 7.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pro Medicus's current Net-Net Working Capital is $0.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pro Medicus stock overvalued right now?
Based on GuruFocus' analysis, Pro Medicus (PMDIY) is currently considered Modestly Undervalued. The stock's GF Value™ is $40.27, compared to a current price of $29.51 — trading 26.7% below its estimated fair value. The current Net-Net Working Capital is $0.17 and 97.8% below the Healthcare Providers & Services industry median of 7.57. Pro Medicus' overall GF Score™ is 77/100 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 Pro Medicus (PMDIY), the current Net-Net Working Capital is $0.17 as of Dec. 2025. 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 Pro Medicus (PMDIY) Overvalued in 2026?

Based on GuruFocus' analysis, Pro Medicus stock appears to be undervalued. The current stock price of $29.51 is trading 26.7% below its estimated GF Value™ of $40.27. GuruFocus considers Pro Medicus to be Modestly Undervalued.

Key valuation signals for PMDIY:

  • Net-Net Working Capital: $0.17
  • GF Value™: $40.27 vs. price of $29.51 (26.7% below fair value)
  • GF Score™: 77/100 with 1 warning sign
  • Industry Position: 97.8% below the Healthcare Providers & Services median (#190 of 195)

No single metric tells the full story. See the PMDIY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Pro Medicus Business Description

Address 450 Swan Street, Richmond, VIC, AUS, 3121
Pro Medicus is a healthcare IT company specializing in radiology imaging software. Its main product, Visage 7, is a clinical desktop application that radiologists use to view, enhance, and manipulate images from any device and make a diagnosis. Its main customers are US private academic hospitals. In fiscal 2025, Pro Medicus earned 90% of revenue in North America, 8% from Australia, and the remaining 2% in Europe.
77GF Score

Get the complete analysis for PMDIY

Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$29.51
Price
$40.27
GF Value