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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 Pop Mart International Group's Net-Net Working Capital or its related term are showing as below:
PMRTY's Price-to-Net-Net-Working-Capital is ranked worse than 74.77% of 214
companies
in the Travel & Leisure industry
Industry Median: 7.125
vs PMRTY: 17.47
Pop Mart International Group (OTCPK:PMRTY) 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.
Pop Mart International Group Net-Net Working Capital Related Terms
Pop Mart International Group 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.
Pop Mart International Group Net-Net Working Capital Chart
PMRTY vs AS, HAS, LTH: Net-Net Working Capital Comparison
For the Leisure subindustry, Pop Mart International Group'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.
Pop Mart International Group Price-to-Net-Net-Working-Capital vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Pop Mart International Group's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Pop Mart International Group'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 $1.16 mean?
Pop Mart International Group (PMRTY) has a Net-Net Working Capital of $1.16 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 Pop Mart International Group According to the industry distribution chart, Pop Mart International Group ranks #160 out of 214 companies in the Travel & Leisure industry, placing it in the top 74.8%.
Is Pop Mart International Group's Net-Net Working Capital too high?
Pop Mart International Group's current Net-Net Working Capital is $1.16. The Travel & Leisure industry median Net-Net Working Capital is 7.13. Pop Mart International Group's value of $1.16 is 83.7% below this industry median. Based on the distribution chart, Pop Mart International Group ranks #160 out of 214 companies in the Travel & Leisure industry, which is below the industry midpoint. Overall, Pop Mart International Group has a GF Score™ of 71/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Pop Mart International Group's Net-Net Working Capital compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Pop Mart International Group ranks #160 out of 214 companies for Net-Net Working Capital. This places Pop Mart International Group in the lower half of its industry. The industry median Net-Net Working Capital is 7.13. Pop Mart International Group's value of $1.16 is 83.7% 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 Travel & Leisure company?
The median Net-Net Working Capital among Travel & Leisure companies is 7.13, based on 214 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. Pop Mart International Group's current Net-Net Working Capital of $1.16 is 83.7% 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 Pop Mart International Group For the Travel & Leisure industry, the median Net-Net Working Capital is 7.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pop Mart International Group's current Net-Net Working Capital is $1.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pop Mart International Group stock overvalued right now?
Based on GuruFocus' analysis, Pop Mart International Group (PMRTY) is currently considered Possible Value Trap. The stock's GF Value™ is $33.25, compared to a current price of $19.74 — trading 40.6% below its estimated fair value. The current Net-Net Working Capital is $1.16 and 83.7% below the Travel & Leisure industry median of 7.13. Pop Mart International Group's overall GF Score™ is 71/100 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 Pop Mart International Group (PMRTY), the current Net-Net Working Capital is $1.16 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 Pop Mart International Group (PMRTY) Overvalued in 2026?
Based on GuruFocus' analysis, Pop Mart International Group stock appears to be undervalued.
The current stock price of $19.74 is trading 40.6% below its estimated GF Value™ of $33.25.
GuruFocus considers Pop Mart International Group to be Possible Value Trap.
Key valuation signals for PMRTY:
Net-Net Working Capital: $1.16
GF Value™: $33.25 vs. price of $19.74 (40.6% below fair value)
Industry Position: 83.7% below the Travel & Leisure median (#160 of 214)
No single metric tells the full story. See the PMRTY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pop Mart was founded in 2010 by entrepreneur Wang Ning and his partners to design, create, and sell pop culture toys based on intellectual properties, or IPs. The company develops toy products by acquiring and self-incubating IPs, as well as collaborating with IP owners through exclusive and nonexclusive licensing agreements. Its products have seen widespread popularity in China and have gained traction in overseas markets, such as Southeast Asia and North America. To diversify its revenue streams, Pop Mart has also tapped into accessories, home appliances, food merchandising, and theme park operations.
71GF Score
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