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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.
CSPC Pharmaceutical Group's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $0.02.
The industry rank for CSPC Pharmaceutical Group's Net-Net Working Capital or its related term are showing as below:
CSPCY's Price-to-Net-Net-Working-Capital is ranked worse than 95.62% of 411
companies
in the Drug Manufacturers industry
Industry Median: 7.87
vs CSPCY: 143.50
CSPC Pharmaceutical Group (OTCPK:CSPCY) 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.
CSPC Pharmaceutical Group Net-Net Working Capital Related Terms
CSPC Pharmaceutical Group Net-Net Working Capital Historical Data
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The historical data trend for CSPC Pharmaceutical Group'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.
CSPC Pharmaceutical Group Net-Net Working Capital Chart
CSPCY vs LLY, JNJ, ABBV: Net-Net Working Capital Comparison
For the Drug Manufacturers - General subindustry, CSPC Pharmaceutical Group'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.
CSPC Pharmaceutical Group Price-to-Net-Net-Working-Capital vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, CSPC Pharmaceutical Group's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where CSPC Pharmaceutical Group'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 $0.02 mean?
CSPC Pharmaceutical Group (CSPCY) has a Net-Net Working Capital of $0.02 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 CSPC Pharmaceutical Group According to the industry distribution chart, CSPC Pharmaceutical Group ranks #393 out of 411 companies in the Drug Manufacturers industry, placing it in the top 95.6%.
Is CSPC Pharmaceutical Group's Net-Net Working Capital too high?
CSPC Pharmaceutical Group's current Net-Net Working Capital is $0.02. The Drug Manufacturers industry median Net-Net Working Capital is 7.87. CSPC Pharmaceutical Group's value of $0.02 is 99.7% below this industry median. Based on the distribution chart, CSPC Pharmaceutical Group ranks #393 out of 411 companies in the Drug Manufacturers industry, which is in the bottom quartile relative to peers. Overall, CSPC Pharmaceutical Group has a GF Score™ of 70/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CSPC Pharmaceutical Group's Net-Net Working Capital compare to LLY and JNJ?
According to the Drug Manufacturers industry distribution chart, CSPC Pharmaceutical Group ranks #393 out of 411 companies for Net-Net Working Capital. This places CSPC Pharmaceutical Group in the lower half of its industry. The industry median Net-Net Working Capital is 7.87. CSPC Pharmaceutical Group's value of $0.02 is 99.7% below this benchmark. 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 Drug Manufacturers company?
The median Net-Net Working Capital among Drug Manufacturers companies is 7.87, based on 411 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. CSPC Pharmaceutical Group's current Net-Net Working Capital of $0.02 is 99.7% below the industry median. 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 CSPC Pharmaceutical Group For the Drug Manufacturers industry, the median Net-Net Working Capital is 7.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CSPC Pharmaceutical Group's current Net-Net Working Capital is $0.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CSPC Pharmaceutical Group stock overvalued right now?
Based on GuruFocus' analysis, CSPC Pharmaceutical Group (CSPCY) is currently considered Modestly Overvalued. The stock's GF Value™ is $3.35, compared to a current price of $4.31 — trading 28.5% above its estimated fair value. The current Net-Net Working Capital is $0.02 and 99.7% below the Drug Manufacturers industry median of 7.87. CSPC Pharmaceutical Group's overall GF Score™ is 70/100 with 4 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 CSPC Pharmaceutical Group (CSPCY), the current Net-Net Working Capital is $0.02 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 CSPC Pharmaceutical Group (CSPCY) Overvalued in 2026?
Based on GuruFocus' analysis, CSPC Pharmaceutical Group stock appears to be overvalued.
The current stock price of $4.31 is trading 28.5% above its estimated GF Value™ of $3.35.
GuruFocus considers CSPC Pharmaceutical Group to be Modestly Overvalued.
Key valuation signals for CSPCY:
Net-Net Working Capital: $0.02
GF Value™: $3.35 vs. price of $4.31 (28.5% above fair value)
Industry Position: 99.7% below the Drug Manufacturers median (#393 of 411)
No single metric tells the full story. See the CSPCY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CSPC Pharmaceutical Group LTD is engaged in the manufacture and sale of pharmaceutical products. The group's segments include: Finished drugs, consisting research and development, manufacture and sale of pharmaceutical products and license fee income; Bulk products, that manufacture and sale of vitamin C, and antibiotic products in bulk powder form; and Functional food and others, that manufacture and sale of functional food products (including caffeine food additives, anhydrous glucose, acarbose and vitamin C buccal tablets), provision of healthcare service and others. It derives maximum revenue from Finished Products segments. Geographically, the company operates in Chinese Mainland, which Chinese Mainland generates maximum revenue; Other Asian regions; Europe; North America; and Others.
70GF Score
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