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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.
Hong Leong Bank Bhd's Net-Net Working Capital for the quarter that ended in Mar. 2026 was RM-127.75.
The industry rank for Hong Leong Bank Bhd's Net-Net Working Capital or its related term are showing as below:
XKLS:5819's Price-to-Net-Net-Working-Capital is not ranked *
in the Banks industry.
Industry Median: 1.97 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Hong Leong Bank Bhd (XKLS:5819) 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.
Hong Leong Bank Bhd Net-Net Working Capital Related Terms
Hong Leong Bank Bhd Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Hong Leong Bank 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.
Hong Leong Bank Bhd Net-Net Working Capital Competitor Comparison
For the Banks - Regional subindustry, Hong Leong Bank 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.
Hong Leong Bank Bhd Price-to-Net-Net-Working-Capital vs Banks Industry
For the Banks industry and Financial Services sector, Hong Leong Bank Bhd's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Hong Leong Bank 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 RM-127.75 mean?
Hong Leong Bank Bhd (XKLS:5819) has a Net-Net Working Capital of RM-127.75 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 Hong Leong Bank Bhd According to the industry distribution chart, Hong Leong Bank Bhd ranks #999999 out of 9 companies in the Banks industry.
Is Hong Leong Bank Bhd's Net-Net Working Capital too high?
Hong Leong Bank Bhd's current Net-Net Working Capital is RM-127.75. Based on the distribution chart, Hong Leong Bank Bhd ranks #999999 out of 9 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Hong Leong Bank Bhd has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hong Leong Bank Bhd's Net-Net Working Capital compare to competitors?
According to the Banks industry distribution chart, Hong Leong Bank Bhd ranks #999999 out of 9 companies for Net-Net Working Capital. This places Hong Leong Bank Bhd in the lower half of its industry. The industry median Net-Net Working Capital is 1.97. 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 Banks company?
The median Net-Net Working Capital among Banks companies is 1.97, based on 9 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 Hong Leong Bank Bhd For the Banks industry, the median Net-Net Working Capital is 1.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hong Leong Bank Bhd's current Net-Net Working Capital is RM-127.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hong Leong Bank Bhd stock overvalued right now?
Based on GuruFocus' analysis, Hong Leong Bank Bhd (XKLS:5819) is currently considered Fairly Valued. The stock's GF Value™ is RM23.37, compared to a current price of RM22.50 — trading 3.7% below its estimated fair value. The current Net-Net Working Capital is RM-127.75. Hong Leong Bank Bhd's overall GF Score™ is 76/100 with 3 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 Hong Leong Bank Bhd (XKLS:5819), the current Net-Net Working Capital is RM-127.75 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 Hong Leong Bank Bhd (XKLS:5819) Overvalued in 2026?
Based on GuruFocus' analysis, Hong Leong Bank Bhd stock appears to be undervalued.
The current stock price of RM22.50 is trading 3.7% below its estimated GF Value™ of RM23.37.
GuruFocus considers Hong Leong Bank Bhd to be Fairly Valued.
Key valuation signals for XKLS:5819:
Net-Net Working Capital: RM-127.75
GF Value™: RM23.37 vs. price of RM22.50 (3.7% below fair value)
No single metric tells the full story. See the XKLS:5819 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hong Leong Bank Bhd is a regional financial services company. Its segments include Personal Financial Services, Business & Corporate Banking, Global Markets, Overseas/International Operations, and Other operations. Personal Financial Services segment focuses mainly on servicing individual customers and small businesses. Business & Corporate Banking focuses on corporate and small and medium enterprises. Global Markets refers to its domestic treasury and capital market operations and includes foreign exchange, money market operations as well as capital market securities trading and investments. Overseas/International Operations include the bank's overseas branches, subsidiaries, and associates. Other operations segment includes head office and other business segment.
76GF Score
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