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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 EquitiesTracker Holdings Bhd's Net-Net Working Capital or its related term are showing as below:
XKLS:03021's Price-to-Net-Net-Working-Capital is ranked worse than 71.9% of 274
companies
in the Capital Markets industry
Industry Median: 4.515
vs XKLS:03021: 12.00
EquitiesTracker Holdings Bhd (XKLS:03021) 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.
EquitiesTracker Holdings Bhd Net-Net Working Capital Related Terms
EquitiesTracker Holdings Bhd 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.
EquitiesTracker Holdings Bhd Net-Net Working Capital Chart
XKLS:03021 vs SPGI, CME, ICE: Net-Net Working Capital Comparison
For the Financial Data & Stock Exchanges subindustry, EquitiesTracker Holdings 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.
EquitiesTracker Holdings Bhd Price-to-Net-Net-Working-Capital vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, EquitiesTracker Holdings Bhd's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where EquitiesTracker Holdings 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 RM0.01 mean?
EquitiesTracker Holdings Bhd (XKLS:03021) has a Net-Net Working Capital of RM0.01 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 EquitiesTracker Holdings Bhd According to the industry distribution chart, EquitiesTracker Holdings Bhd ranks #197 out of 274 companies in the Capital Markets industry, placing it in the top 71.9%.
Is EquitiesTracker Holdings Bhd's Net-Net Working Capital too high?
EquitiesTracker Holdings Bhd's current Net-Net Working Capital is RM0.01. Based on the distribution chart, EquitiesTracker Holdings Bhd ranks #197 out of 274 companies in the Capital Markets industry, which is below the industry midpoint. Overall, EquitiesTracker Holdings Bhd has a GF Score™ of 33/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does EquitiesTracker Holdings Bhd's Net-Net Working Capital compare to SPGI and CME?
According to the Capital Markets industry distribution chart, EquitiesTracker Holdings Bhd ranks #197 out of 274 companies for Net-Net Working Capital. This places EquitiesTracker Holdings Bhd in the lower half of its industry. The industry median Net-Net Working Capital is 4.52. 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 Capital Markets company?
The median Net-Net Working Capital among Capital Markets companies is 4.52, based on 274 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 EquitiesTracker Holdings Bhd For the Capital Markets industry, the median Net-Net Working Capital is 4.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. EquitiesTracker Holdings Bhd's current Net-Net Working Capital is RM0.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is EquitiesTracker Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, EquitiesTracker Holdings Bhd (XKLS:03021) is currently considered Modestly Undervalued. The stock's GF Value™ is RM0.16, compared to a current price of RM0.12 — trading 25% below its estimated fair value. The current Net-Net Working Capital is RM0.01. EquitiesTracker Holdings Bhd's overall GF Score™ is 33/100 with 6 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 EquitiesTracker Holdings Bhd (XKLS:03021), the current Net-Net Working Capital is RM0.01 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 EquitiesTracker Holdings Bhd (XKLS:03021) Overvalued in 2026?
Based on GuruFocus' analysis, EquitiesTracker Holdings Bhd stock appears to be undervalued.
The current stock price of RM0.12 is trading 25% below its estimated GF Value™ of RM0.16.
GuruFocus considers EquitiesTracker Holdings Bhd to be Modestly Undervalued.
Key valuation signals for XKLS:03021:
Net-Net Working Capital: RM0.01
GF Value™: RM0.16 vs. price of RM0.12 (25% below fair value)
No single metric tells the full story. See the XKLS:03021 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
EquitiesTracker Holdings Bhd operates an equity investment research platform that provides subscribers with access to investment research, analytical tools, and information on public listed companies. It provides investment training programmes, including pre-designed and customised training services. Revenue from the investment platform is derived from subscription fees, which are billed depending on the contractual terms. Its segments include Corporate and Retail, of which the Corporate segment derives the majority of revenue.
33GF 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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