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.
Ichitan Group PCL's Net-Net Working Capital for the quarter that ended in Mar. 2026 was ฿1.42.
The industry rank for Ichitan Group PCL's Net-Net Working Capital or its related term are showing as below:
BKK:ICHI-R's Price-to-Net-Net-Working-Capital is ranked worse than 51.06% of 47
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 9.86
vs BKK:ICHI-R: 9.64
Ichitan Group PCL (BKK:ICHI-R) 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.
Ichitan Group PCL Net-Net Working Capital Related Terms
Ichitan Group PCL Net-Net Working Capital Historical Data
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The historical data trend for Ichitan Group PCL'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.
BKK:ICHI-R vs KO, PEP, MNST: Net-Net Working Capital Comparison
For the Beverages - Non-Alcoholic subindustry, Ichitan Group PCL'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.
Ichitan Group PCL Price-to-Net-Net-Working-Capital vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Ichitan Group PCL's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Ichitan Group PCL'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 ฿1.42 mean?
Ichitan Group PCL (BKK:ICHI-R) has a Net-Net Working Capital of ฿1.42 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 Ichitan Group PCL According to the industry distribution chart, Ichitan Group PCL ranks #24 out of 47 companies in the Beverages - Non-Alcoholic industry, placing it in the top 51.1%.
Is Ichitan Group PCL's Net-Net Working Capital too high?
Ichitan Group PCL's current Net-Net Working Capital is ฿1.42. Based on the distribution chart, Ichitan Group PCL ranks #24 out of 47 companies in the Beverages - Non-Alcoholic industry, which is below the industry midpoint. Overall, Ichitan Group PCL has a GF Score™ of 95/100, reflecting its overall financial health beyond just this single metric.
How does Ichitan Group PCL's Net-Net Working Capital compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, Ichitan Group PCL ranks #24 out of 47 companies for Net-Net Working Capital. This places Ichitan Group PCL in the lower half of its industry. The industry median Net-Net Working Capital is 9.86. 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 Beverages - Non-Alcoholic company?
The median Net-Net Working Capital among Beverages - Non-Alcoholic companies is 9.86, based on 47 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 Ichitan Group PCL For the Beverages - Non-Alcoholic industry, the median Net-Net Working Capital is 9.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ichitan Group PCL's current Net-Net Working Capital is ฿1.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ichitan Group PCL stock overvalued right now?
Ichitan Group PCL (BKK:ICHI-R) has a current Net-Net Working Capital of ฿1.42. The stock's GF Value™ is ฿11.53, compared to a current price of ฿10.60 — trading 8.1% below its estimated fair value. The current Net-Net Working Capital is ฿1.42. Ichitan Group PCL's overall GF Score™ is 95/100 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 Ichitan Group PCL (BKK:ICHI-R), the current Net-Net Working Capital is ฿1.42 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 Ichitan Group PCL (BKK:ICHI-R) Overvalued in 2026?
Based on GuruFocus' analysis, Ichitan Group PCL stock appears to be undervalued.
The current stock price of ฿10.60 is trading 8.1% below its estimated GF Value™ of ฿11.53.
Key valuation signals for BKK:ICHI-R:
Net-Net Working Capital: ฿1.42
GF Value™: ฿11.53 vs. price of ฿10.60 (8.1% below fair value)
No single metric tells the full story. See the BKK:ICHI-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ichitan Group PCL manufactures and sells ready-to-drink tea beverages in Thailand. It manufactures and sells ready to drink green tea beverage, herbal drink, and low-sugar ready-to-drink tea beverage, under the brand name of Ichitan Green Tea. Majority of the revenue for the company is generated from Thailand and rest from overseas markets.
95GF Score
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