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AppAsia BhdXKLS:0119 37 Net-Net Working Capital is RM0.02 as of Mar. 2026. GuruFocus rates XKLS:0119 with a GF Score™ of 37/100 and a GF Value™ of RM0.10 (Fairly Valued). The stock has 1 warning sign investors should review. Among 1,257 Software companies, AppAsia Bhd ranks better than 59.9% 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.
AppAsia Bhd's Net-Net Working Capital for the quarter that ended in Mar. 2026 was RM0.02.
The industry rank for AppAsia Bhd's Net-Net Working Capital or its related term are showing as below:
XKLS:0119's Price-to-Net-Net-Working-Capital is ranked better than 59.9% of 1257
companies
in the Software industry
Industry Median: 7.16
vs XKLS:0119: 5.50
AppAsia Bhd (XKLS:0119) 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.
AppAsia Bhd Net-Net Working Capital Related Terms
AppAsia Bhd Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for AppAsia Bhd'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.
XKLS:0119 vs QH, SHOP, UBER: Net-Net Working Capital Comparison
For the Software - Application subindustry, AppAsia Bhd'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.
AppAsia Bhd Price-to-Net-Net-Working-Capital vs Software Industry
For the Software industry and Technology sector, AppAsia Bhd's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where AppAsia Bhd'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 RM0.02 mean?
AppAsia Bhd (XKLS:0119) has a Net-Net Working Capital of RM0.02 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 AppAsia Bhd According to the industry distribution chart, AppAsia Bhd ranks #504 out of 1257 companies in the Software industry, placing it in the top 40.1%.
Is AppAsia Bhd's Net-Net Working Capital too high?
AppAsia Bhd's current Net-Net Working Capital is RM0.02. Based on the distribution chart, AppAsia Bhd ranks #504 out of 1257 companies in the Software industry, which is above the industry midpoint. Overall, AppAsia Bhd has a GF Score™ of 37/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does AppAsia Bhd's Net-Net Working Capital compare to QH and SHOP?
According to the Software industry distribution chart, AppAsia Bhd ranks #504 out of 1257 companies for Net-Net Working Capital. This puts AppAsia Bhd in the upper half of its industry. The industry median Net-Net Working Capital is 7.16. 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 Software company?
The median Net-Net Working Capital among Software companies is 7.16, based on 1,257 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 AppAsia Bhd For the Software industry, the median Net-Net Working Capital is 7.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AppAsia Bhd's current Net-Net Working Capital is RM0.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AppAsia Bhd stock overvalued right now?
Based on GuruFocus' analysis, AppAsia Bhd (XKLS:0119) is currently considered Fairly Valued. The stock's GF Value™ is RM0.10, compared to a current price of RM0.11 — trading 10% above its estimated fair value. The current Net-Net Working Capital is RM0.02. AppAsia Bhd's overall GF Score™ is 37/100 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 AppAsia Bhd (XKLS:0119), the current Net-Net Working Capital is RM0.02 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 AppAsia Bhd (XKLS:0119) Overvalued in 2026?
Based on GuruFocus' analysis, AppAsia Bhd stock appears to be overvalued.
The current stock price of RM0.11 is trading 10% above its estimated GF Value™ of RM0.10.
GuruFocus considers AppAsia Bhd to be Fairly Valued.
Key valuation signals for XKLS:0119:
Net-Net Working Capital: RM0.02
GF Value™: RM0.10 vs. price of RM0.11 (10% above fair value)
No single metric tells the full story. See the XKLS:0119 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AppAsia Bhd is a digital platform provider specialising in blockchain technologies, advanced mobile applications, and digital content. The company operates in the segments of Financial Services Business, E-Commerce Business, Digital solutions Business, and Investment Holding and Other Businesses. Investment holding includes investment management and provision of management services and other complimentary services; E-Commerce Business segment engages in the provision of online marketplace for e-commerce activities; Digital solutions business engages in the provision of digital platform related solutions and services; and Financial services segment provides financial assistance. Geographically, the group operates in Malaysia and United States, of which key revenue is derived from Malaysia.
37GF Score
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