Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Shine JusticeASX:SHJ +0.85%46 Net-Net Working Capital is A$-1.85 as of Dec. 2025. GuruFocus rates ASX:SHJ with a GF Score™ of 46/100 and a GF Value™ of A$0.73 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 20 Personal Services companies, Shine Justice ranks worse than 4999995% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Shine Justice's Net-Net Working Capital for the quarter that ended in Dec. 2025 was A$-1.85.
The industry rank for Shine Justice's Net-Net Working Capital or its related term are showing as below:
ASX:SHJ's Price-to-Net-Net-Working-Capital is not ranked *
in the Personal Services industry.
Industry Median: 4.315 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Shine Justice (ASX:SHJ) 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.
Shine Justice Net-Net Working Capital Related Terms
Shine Justice Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Shine Justice'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.
ASX:SHJ vs ROL, SCI, HRB: Net-Net Working Capital Comparison
For the Personal Services subindustry, Shine Justice'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.
Shine Justice Price-to-Net-Net-Working-Capital vs Personal Services Industry
For the Personal Services industry and Consumer Cyclical sector, Shine Justice's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Shine Justice'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 A$-1.85 mean?
Shine Justice (ASX:SHJ) has a Net-Net Working Capital of A$-1.85 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 Shine Justice According to the industry distribution chart, Shine Justice ranks #999999 out of 20 companies in the Personal Services industry.
Is Shine Justice's Net-Net Working Capital too high?
Shine Justice's current Net-Net Working Capital is A$-1.85. Based on the distribution chart, Shine Justice ranks #999999 out of 20 companies in the Personal Services industry, which is in the bottom quartile relative to peers. Overall, Shine Justice has a GF Score™ of 46/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shine Justice's Net-Net Working Capital compare to ROL and SCI?
According to the Personal Services industry distribution chart, Shine Justice ranks #999999 out of 20 companies for Net-Net Working Capital. This places Shine Justice in the lower half of its industry. The industry median Net-Net Working Capital is 4.32. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Personal Services company?
The median Net-Net Working Capital among Personal Services companies is 4.32, based on 20 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Shine Justice For the Personal Services industry, the median Net-Net Working Capital is 4.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shine Justice's current Net-Net Working Capital is A$-1.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shine Justice stock overvalued right now?
Based on GuruFocus' analysis, Shine Justice (ASX:SHJ) is currently considered Modestly Undervalued. The stock's GF Value™ is A$0.73, compared to a current price of A$0.60 — trading 18.5% below its estimated fair value. The current Net-Net Working Capital is A$-1.85. Shine Justice's overall GF Score™ is 46/100 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 Shine Justice (ASX:SHJ), the current Net-Net Working Capital is A$-1.85 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 Shine Justice (ASX:SHJ) Overvalued in 2026?
Based on GuruFocus' analysis, Shine Justice stock appears to be undervalued.
The current stock price of A$0.60 is trading 18.5% below its estimated GF Value™ of A$0.73.
GuruFocus considers Shine Justice to be Modestly Undervalued.
Key valuation signals for ASX:SHJ:
Net-Net Working Capital: A$-1.85
GF Value™: A$0.73 vs. price of A$0.60 (18.5% below fair value)
No single metric tells the full story. See the ASX:SHJ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shine Justice Ltd offers legal services. It operates through the following business segments: Personal injury and Class Actions. The firm generates the majority of its revenue from the Personal injury segment. Its Personal injury segment includes motor vehicle accidents, workers' compensation, public liability, catastrophic injuries, and Others. Its firm includes Shine Lawyers, Sciaccas Lawyers, Stephen Browne Personal Injury Lawyers, Bradley Bayly Lawyers, and Carr & Co Divorce and Family Lawyers.
46GF Score
Get the complete analysis for ASX:SHJ
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASX:SHJ has been successfully added to your 
