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.
BKK:SIS-R's Price-to-Net-Net-Working-Capital is not ranked *
in the Hardware industry.
Industry Median: 9.61 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Sis Distribution (Thailand) PCL (BKK:SIS-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.
Sis Distribution (Thailand) PCL Net-Net Working Capital Related Terms
Sis Distribution (Thailand) 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.
Sis Distribution (Thailand) PCL Net-Net Working Capital Chart
BKK:SIS-R vs SNX, ARW, AVT: Net-Net Working Capital Comparison
For the Electronics & Computer Distribution subindustry, Sis Distribution (Thailand) 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.
Sis Distribution (Thailand) PCL Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, Sis Distribution (Thailand) PCL's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Sis Distribution (Thailand) 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 ฿-1.00 mean?
Sis Distribution (Thailand) PCL (BKK:SIS-R) has a Net-Net Working Capital of ฿-1.00 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 Sis Distribution (Thailand) PCL According to the industry distribution chart, Sis Distribution (Thailand) PCL ranks #999999 out of 1219 companies in the Hardware industry.
Is Sis Distribution (Thailand) PCL's Net-Net Working Capital too high?
Sis Distribution (Thailand) PCL's current Net-Net Working Capital is ฿-1.00. Based on the distribution chart, Sis Distribution (Thailand) PCL ranks #999999 out of 1219 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Sis Distribution (Thailand) PCL has a GF Score™ of 90/100, reflecting its overall financial health beyond just this single metric.
How does Sis Distribution (Thailand) PCL's Net-Net Working Capital compare to SNX and ARW?
According to the Hardware industry distribution chart, Sis Distribution (Thailand) PCL ranks #999999 out of 1219 companies for Net-Net Working Capital. This places Sis Distribution (Thailand) PCL in the lower half of its industry. The industry median Net-Net Working Capital is 9.61. 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 Hardware company?
The median Net-Net Working Capital among Hardware companies is 9.61, based on 1,219 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 Sis Distribution (Thailand) PCL For the Hardware industry, the median Net-Net Working Capital is 9.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sis Distribution (Thailand) PCL's current Net-Net Working Capital is ฿-1.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sis Distribution (Thailand) PCL stock overvalued right now?
Sis Distribution (Thailand) PCL (BKK:SIS-R) has a current Net-Net Working Capital of ฿-1.00. The stock's GF Value™ is ฿24.57, compared to a current price of ฿21.37 — trading 13% below its estimated fair value. The current Net-Net Working Capital is ฿-1.00. Sis Distribution (Thailand) PCL's overall GF Score™ is 90/100. 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 Sis Distribution (Thailand) PCL (BKK:SIS-R), the current Net-Net Working Capital is ฿-1.00 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 Sis Distribution (Thailand) PCL (BKK:SIS-R) Overvalued in 2026?
Based on GuruFocus' analysis, Sis Distribution (Thailand) PCL stock appears to be undervalued.
The current stock price of ฿21.37 is trading 13% below its estimated GF Value™ of ฿24.57.
Key valuation signals for BKK:SIS-R:
Net-Net Working Capital: ฿-1.00
GF Value™: ฿24.57 vs. price of ฿21.37 (13% below fair value)
No single metric tells the full story. See the BKK:SIS-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sis Distribution (Thailand) PCL Business Description
Sis Distribution (Thailand) PCL is engaged in the distribution of computer components, smartphones, office automation equipment, service and rental of computers and accessories. The company operates as a distributor for various IT product manufacturers such as Asus, Acer, Brother, Dell, Fortinet, Hewlett Packard Enterprise, HP Inc, Lenovo, Samsung, Xiaomi, etc. It has four reportable segments: Commercial products, Consumer products, Value-added products, and Phones. Maximum revenue is generated from the Consumer products segment, which distributes products for household use, such as personal computers, printers, and IoT devices. Geographically, the company operates in Thailand only.
90GF Score
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