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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.
XBEL:MTLC's Price-to-Net-Net-Working-Capital is ranked worse than 67.42% of 1148
companies
in the Hardware industry
Industry Median: 8.945
vs XBEL:MTLC: 16.69
Metalac a.d. , Gornji Milanovac (XBEL:MTLC) 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.
Metalac a.d. , Gornji Milanovac Net-Net Working Capital Related Terms
Metalac a.d. , Gornji Milanovac 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.
Metalac a.d. , Gornji Milanovac Net-Net Working Capital Chart
XBEL:MTLC vs AAPL: Net-Net Working Capital Comparison
For the Consumer Electronics subindustry, Metalac a.d. , Gornji Milanovac'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.
Metalac a.d. , Gornji Milanovac Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, Metalac a.d. , Gornji Milanovac's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Metalac a.d. , Gornji Milanovac'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 RSD119.80 mean?
Metalac a.d. , Gornji Milanovac (XBEL:MTLC) has a Net-Net Working Capital of RSD119.80 as of Jun. 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 Metalac a.d. , Gornji Milanovac According to the industry distribution chart, Metalac a.d. , Gornji Milanovac ranks #774 out of 1148 companies in the Hardware industry, placing it in the top 67.4%.
Is Metalac a.d. , Gornji Milanovac's Net-Net Working Capital too high?
Metalac a.d. , Gornji Milanovac's current Net-Net Working Capital is RSD119.80. Based on the distribution chart, Metalac a.d. , Gornji Milanovac ranks #774 out of 1148 companies in the Hardware industry, which is below the industry midpoint. Overall, Metalac a.d. , Gornji Milanovac has a GF Score™ of 94/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Metalac a.d. , Gornji Milanovac's Net-Net Working Capital compare to AAPL?
According to the Hardware industry distribution chart, Metalac a.d. , Gornji Milanovac ranks #774 out of 1148 companies for Net-Net Working Capital. This places Metalac a.d. , Gornji Milanovac in the lower half of its industry. The industry median Net-Net Working Capital is 8.95. 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 Hardware company?
The median Net-Net Working Capital among Hardware companies is 8.95, based on 1,148 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 Metalac a.d. , Gornji Milanovac For the Hardware industry, the median Net-Net Working Capital is 8.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Metalac a.d. , Gornji Milanovac's current Net-Net Working Capital is RSD119.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Metalac a.d. , Gornji Milanovac stock overvalued right now?
Based on GuruFocus' analysis, Metalac a.d. , Gornji Milanovac (XBEL:MTLC) is currently considered Fairly Valued. The stock's GF Value™ is RSD2,199.99, compared to a current price of RSD2,000.00 — trading 9.1% below its estimated fair value. The current Net-Net Working Capital is RSD119.80. Metalac a.d. , Gornji Milanovac's overall GF Score™ is 94/100 with 5 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 Metalac a.d. , Gornji Milanovac (XBEL:MTLC), the current Net-Net Working Capital is RSD119.80 as of Jun. 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 Metalac a.d. , Gornji Milanovac (XBEL:MTLC) Overvalued in 2026?
Based on GuruFocus' analysis, Metalac a.d. , Gornji Milanovac stock appears to be undervalued.
The current stock price of RSD2,000.00 is trading 9.1% below its estimated GF Value™ of RSD2,199.99.
GuruFocus considers Metalac a.d. , Gornji Milanovac to be Fairly Valued.
Key valuation signals for XBEL:MTLC:
Net-Net Working Capital: RSD119.80
GF Value™: RSD2,199.99 vs. price of RSD2,000.00 (9.1% below fair value)
No single metric tells the full story. See the XBEL:MTLC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Metalac a.d. , Gornji Milanovac produces and sells enamel, Teflon-coated, aluminum and stainless-steel cookware. It also sells water heaters, transport and luxurious cardboard packing materials, steel products, and others.
94GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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