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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.
Komercijalna Banka AD Skopje's Net-Net Working Capital for the quarter that ended in Jun. 2026 was MKD-50,294.03.
The industry rank for Komercijalna Banka AD Skopje's Net-Net Working Capital or its related term are showing as below:
XMAE:KMB's Price-to-Net-Net-Working-Capital is not ranked *
in the Banks industry.
Industry Median: 2.01 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Komercijalna Banka AD Skopje (XMAE:KMB) 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.
Komercijalna Banka AD Skopje Net-Net Working Capital Related Terms
Komercijalna Banka AD Skopje 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.
Komercijalna Banka AD Skopje Net-Net Working Capital Chart
XMAE:KMB vs PNC, USB: Net-Net Working Capital Comparison
For the Banks - Regional subindustry, Komercijalna Banka AD Skopje'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.
Komercijalna Banka AD Skopje Price-to-Net-Net-Working-Capital vs Banks Industry
For the Banks industry and Financial Services sector, Komercijalna Banka AD Skopje's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Komercijalna Banka AD Skopje'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 MKD-50,294.03 mean?
Komercijalna Banka AD Skopje (XMAE:KMB) has a Net-Net Working Capital of MKD-50,294.03 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 Komercijalna Banka AD Skopje According to the industry distribution chart, Komercijalna Banka AD Skopje ranks #999999 out of 9 companies in the Banks industry.
Is Komercijalna Banka AD Skopje's Net-Net Working Capital too high?
Komercijalna Banka AD Skopje's current Net-Net Working Capital is MKD-50,294.03. Based on the distribution chart, Komercijalna Banka AD Skopje ranks #999999 out of 9 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Komercijalna Banka AD Skopje has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Komercijalna Banka AD Skopje's Net-Net Working Capital compare to PNC and USB?
According to the Banks industry distribution chart, Komercijalna Banka AD Skopje ranks #999999 out of 9 companies for Net-Net Working Capital. This places Komercijalna Banka AD Skopje in the lower half of its industry. The industry median Net-Net Working Capital is 2.01. 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 2.01, 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 Komercijalna Banka AD Skopje For the Banks industry, the median Net-Net Working Capital is 2.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Komercijalna Banka AD Skopje's current Net-Net Working Capital is MKD-50,294.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Komercijalna Banka AD Skopje stock overvalued right now?
Based on GuruFocus' analysis, Komercijalna Banka AD Skopje (XMAE:KMB) is currently considered Modestly Undervalued. The stock's GF Value™ is MKD29,820.90, compared to a current price of MKD25,988.00 — trading 12.9% below its estimated fair value. The current Net-Net Working Capital is MKD-50,294.03. Komercijalna Banka AD Skopje's overall GF Score™ is 64/100 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 Komercijalna Banka AD Skopje (XMAE:KMB), the current Net-Net Working Capital is MKD-50,294.03 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 Komercijalna Banka AD Skopje (XMAE:KMB) Overvalued in 2026?
Based on GuruFocus' analysis, Komercijalna Banka AD Skopje stock appears to be undervalued.
The current stock price of MKD25,988.00 is trading 12.9% below its estimated GF Value™ of MKD29,820.90.
GuruFocus considers Komercijalna Banka AD Skopje to be Modestly Undervalued.
Key valuation signals for XMAE:KMB:
Net-Net Working Capital: MKD-50,294.03
GF Value™: MKD29,820.90 vs. price of MKD25,988.00 (12.9% below fair value)
No single metric tells the full story. See the XMAE:KMB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Komercijalna Banka AD Skopje is a commercial bank. The principal activities of the bank are - collecting deposits, placing loans and advances domestically and abroad, factoring and financing commercial transactions, foreign exchange operations, fast money transfer, trading with foreign currencies, trading with securities, services of a bank-custodian of investment and pension funds, intermediating in selling insurance policies, data collection and analysis of company's credit rating, and many others. It operates in the Republic of Macedonia, Europe, and other EU member countries.
64GF Score
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