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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.
The industry rank for Siam Steel International PCL's Net-Net Working Capital or its related term are showing as below:
BKK:SIAM's Price-to-Net-Net-Working-Capital is not ranked *
in the Furnishings, Fixtures & Appliances industry.
Industry Median: 7.53 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Siam Steel International PCL (BKK:SIAM) 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.
Siam Steel International PCL Net-Net Working Capital Related Terms
Siam Steel International PCL 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.
Siam Steel International PCL Net-Net Working Capital Chart
BKK:SIAM vs SN, SGI, MHK: Net-Net Working Capital Comparison
For the Furnishings, Fixtures & Appliances subindustry, Siam Steel International 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.
Siam Steel International PCL Price-to-Net-Net-Working-Capital vs Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Siam Steel International PCL's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Siam Steel International 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 ฿-0.24 mean?
Siam Steel International PCL (BKK:SIAM) has a Net-Net Working Capital of ฿-0.24 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 Siam Steel International PCL According to the industry distribution chart, Siam Steel International PCL ranks #999999 out of 174 companies in the Furnishings, Fixtures & Appliances industry.
Is Siam Steel International PCL's Net-Net Working Capital too high?
Siam Steel International PCL's current Net-Net Working Capital is ฿-0.24. Based on the distribution chart, Siam Steel International PCL ranks #999999 out of 174 companies in the Furnishings, Fixtures & Appliances industry, which is in the bottom quartile relative to peers. Overall, Siam Steel International PCL has a GF Score™ of 45/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Siam Steel International PCL's Net-Net Working Capital compare to SN and SGI?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Siam Steel International PCL ranks #999999 out of 174 companies for Net-Net Working Capital. This places Siam Steel International PCL in the lower half of its industry. The industry median Net-Net Working Capital is 7.53. 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 Furnishings, Fixtures & Appliances company?
The median Net-Net Working Capital among Furnishings, Fixtures & Appliances companies is 7.53, based on 174 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 Siam Steel International PCL For the Furnishings, Fixtures & Appliances industry, the median Net-Net Working Capital is 7.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Siam Steel International PCL's current Net-Net Working Capital is ฿-0.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Siam Steel International PCL stock overvalued right now?
Based on GuruFocus' analysis, Siam Steel International PCL (BKK:SIAM) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿0.67, compared to a current price of ฿0.77 — trading 14.9% above its estimated fair value. The current Net-Net Working Capital is ฿-0.24. Siam Steel International PCL's overall GF Score™ is 45/100 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 Siam Steel International PCL (BKK:SIAM), the current Net-Net Working Capital is ฿-0.24 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 Siam Steel International PCL (BKK:SIAM) Overvalued in 2026?
Based on GuruFocus' analysis, Siam Steel International PCL stock appears to be overvalued.
The current stock price of ฿0.77 is trading 14.9% above its estimated GF Value™ of ฿0.67.
GuruFocus considers Siam Steel International PCL to be Modestly Overvalued.
Key valuation signals for BKK:SIAM:
Net-Net Working Capital: ฿-0.24
GF Value™: ฿0.67 vs. price of ฿0.77 (14.9% above fair value)
No single metric tells the full story. See the BKK:SIAM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Siam Steel International PCL is engaged in the manufacturing and sales of steel office equipment and furniture parts, construction services and alternative energy sector. The company manufactures and sells steel furniture under the brands LUCKY KINGDOM, OKAMURA, CHITOSE, and PILOT, and wooden furniture, including freestanding and built-in products, under the KINGDOM brand. It also provides interior design services for office and residential spaces, and manufactures and sells prefabricated buildings under the LUCKY Hi-Tech Building System brand. Its business segments are manufacturing and sales and of furniture, construction services and alternative energy sector. The majority of the company's revenue is generated from the Furniture segment. Geographically, it operates only in Thailand.
45GF 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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