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.
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.
MM ConferencesWAR:MMC +4.65%85 Net-Net Working Capital is zł1.63 as of Mar. 2026. GuruFocus rates WAR:MMC with a GF Score™ of 85/100 and a GF Value™ of zł13.08 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 447 Business Services companies, MM Conferences ranks better than 50.34% 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.
MM Conferences's Net-Net Working Capital for the quarter that ended in Mar. 2026 was zł1.63.
The industry rank for MM Conferences's Net-Net Working Capital or its related term are showing as below:
WAR:MMC's Price-to-Net-Net-Working-Capital is ranked better than 50.34% of 447
companies
in the Business Services industry
Industry Median: 5.6
vs WAR:MMC: 5.52
MM Conferences (WAR:MMC) 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.
MM Conferences Net-Net Working Capital Related Terms
MM Conferences Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for MM Conferences'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.
WAR:MMC vs CTAS, CPRT, GPN: Net-Net Working Capital Comparison
For the Specialty Business Services subindustry, MM Conferences'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.
MM Conferences Price-to-Net-Net-Working-Capital vs Business Services Industry
For the Business Services industry and Industrials sector, MM Conferences's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where MM Conferences'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 zł1.63 mean?
MM Conferences (WAR:MMC) has a Net-Net Working Capital of zł1.63 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 MM Conferences According to the industry distribution chart, MM Conferences ranks #222 out of 447 companies in the Business Services industry, placing it in the top 49.7%.
Is MM Conferences' Net-Net Working Capital too high?
MM Conferences' current Net-Net Working Capital is zł1.63. Based on the distribution chart, MM Conferences ranks #222 out of 447 companies in the Business Services industry, which is above the industry midpoint. Overall, MM Conferences has a GF Score™ of 85/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does MM Conferences' Net-Net Working Capital compare to CTAS and CPRT?
According to the Business Services industry distribution chart, MM Conferences ranks #222 out of 447 companies for Net-Net Working Capital. This puts MM Conferences in the upper half of its industry. The industry median Net-Net Working Capital is 5.60. 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 Business Services company?
The median Net-Net Working Capital among Business Services companies is 5.60, based on 447 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 MM Conferences For the Business Services industry, the median Net-Net Working Capital is 5.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MM Conferences's current Net-Net Working Capital is zł1.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MM Conferences stock overvalued right now?
Based on GuruFocus' analysis, MM Conferences (WAR:MMC) is currently considered Significantly Undervalued. The stock's GF Value™ is zł13.08, compared to a current price of zł9.00 — trading 31.2% below its estimated fair value. The current Net-Net Working Capital is zł1.63. MM Conferences' overall GF Score™ is 85/100 with 2 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 MM Conferences (WAR:MMC), the current Net-Net Working Capital is zł1.63 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 MM Conferences (WAR:MMC) Overvalued in 2026?
Based on GuruFocus' analysis, MM Conferences stock appears to be undervalued.
The current stock price of zł9.00 is trading 31.2% below its estimated GF Value™ of zł13.08.
GuruFocus considers MM Conferences to be Significantly Undervalued.
Key valuation signals for WAR:MMC:
Net-Net Working Capital: zł1.63
GF Value™: zł13.08 vs. price of zł9.00 (31.2% below fair value)
No single metric tells the full story. See the WAR:MMC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MM Conferences is the independent organizer of business meetings in Poland. The company is engaged in organizing conferences for the managerial staff of the highest level from various disciplines, which include banking, management, marketing, IT, finance, etc.
85GF Score
Get the complete analysis for WAR:MMC
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
WAR:MMC has been successfully added to your 
