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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.
Menora Mivtachim Holdings's Net-Net Working Capital for the quarter that ended in Jun. 2026 was ₪-1,175.38.
The industry rank for Menora Mivtachim Holdings's Net-Net Working Capital or its related term are showing as below:
XTAE:MMHD's Price-to-Net-Net-Working-Capital is not ranked *
in the Insurance industry.
Industry Median: 7.35 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Menora Mivtachim Holdings (XTAE:MMHD) 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.
Menora Mivtachim Holdings Net-Net Working Capital Related Terms
Menora Mivtachim Holdings Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Menora Mivtachim Holdings'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.
Menora Mivtachim Holdings Net-Net Working Capital Chart
XTAE:MMHD vs MET, AFL, PRU: Net-Net Working Capital Comparison
For the Insurance - Life subindustry, Menora Mivtachim Holdings'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.
Menora Mivtachim Holdings Price-to-Net-Net-Working-Capital vs Insurance Industry
For the Insurance industry and Financial Services sector, Menora Mivtachim Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Menora Mivtachim Holdings'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 ₪-1,175.38 mean?
Menora Mivtachim Holdings (XTAE:MMHD) has a Net-Net Working Capital of ₪-1,175.38 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 Menora Mivtachim Holdings According to the industry distribution chart, Menora Mivtachim Holdings ranks #999999 out of 63 companies in the Insurance industry.
Is Menora Mivtachim Holdings' Net-Net Working Capital too high?
Menora Mivtachim Holdings' current Net-Net Working Capital is ₪-1,175.38. Based on the distribution chart, Menora Mivtachim Holdings ranks #999999 out of 63 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Menora Mivtachim Holdings has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Menora Mivtachim Holdings' Net-Net Working Capital compare to MET and AFL?
According to the Insurance industry distribution chart, Menora Mivtachim Holdings ranks #999999 out of 63 companies for Net-Net Working Capital. This places Menora Mivtachim Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 7.35. 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 an Insurance company?
The median Net-Net Working Capital among Insurance companies is 7.35, based on 63 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 Menora Mivtachim Holdings For the Insurance industry, the median Net-Net Working Capital is 7.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Menora Mivtachim Holdings's current Net-Net Working Capital is ₪-1,175.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Menora Mivtachim Holdings stock overvalued right now?
Based on GuruFocus' analysis, Menora Mivtachim Holdings (XTAE:MMHD) is currently considered Significantly Overvalued. The stock's GF Value™ is ₪233.63, compared to a current price of ₪551.70 — trading 136.1% above its estimated fair value. The current Net-Net Working Capital is ₪-1,175.38. Menora Mivtachim Holdings' overall GF Score™ is 65/100 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 Menora Mivtachim Holdings (XTAE:MMHD), the current Net-Net Working Capital is ₪-1,175.38 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 Menora Mivtachim Holdings (XTAE:MMHD) Overvalued in 2026?
Based on GuruFocus' analysis, Menora Mivtachim Holdings stock appears to be overvalued.
The current stock price of ₪551.70 is trading 136.1% above its estimated GF Value™ of ₪233.63.
GuruFocus considers Menora Mivtachim Holdings to be Significantly Overvalued.
Key valuation signals for XTAE:MMHD:
Net-Net Working Capital: ₪-1,175.38
GF Value™: ₪233.63 vs. price of ₪551.70 (136.1% above fair value)
No single metric tells the full story. See the XTAE:MMHD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Menora Mivtachim Holdings Ltd is a diversified insurance and finance group that operates in Israel. The company specializes in asset management and diversified insurance services, including general, life, and health insurance. Menora is also active within the capital market in a variety of fields, including corporate finance, investment banking, structured finance, and more. The company offers a broad variety of mutual funds that invest in various avenues in Israel and around the world, while also managing pension products and provident funds. The company's operating segments include Life insurance and long-term savings, focusing on policies, pension, and provident funds for death and disability risks, the Health insurance segment, and the Property and casualty insurance segment.
65GF 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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