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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.
FRA:5HB's Price-to-Net-Net-Working-Capital is ranked better than 81.64% of 844
companies
in the Biotechnology industry
Industry Median: 5.305
vs FRA:5HB: 1.96
Shanghai Haohai Biological Technology Co (FRA:5HB) 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.
Shanghai Haohai Biological Technology Co Net-Net Working Capital Related Terms
Shanghai Haohai Biological Technology Co 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.
Shanghai Haohai Biological Technology Co Net-Net Working Capital Chart
Shanghai Haohai Biological Technology Co Annual Data
FRA:5HB vs VRTX, REGN, RVMD: Net-Net Working Capital Comparison
For the Biotechnology subindustry, Shanghai Haohai Biological Technology Co'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.
Shanghai Haohai Biological Technology Co Price-to-Net-Net-Working-Capital vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Shanghai Haohai Biological Technology Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Shanghai Haohai Biological Technology Co'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 €0.91 mean?
Shanghai Haohai Biological Technology Co (FRA:5HB) has a Net-Net Working Capital of €0.91 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 Shanghai Haohai Biological Technology Co According to the industry distribution chart, Shanghai Haohai Biological Technology Co ranks #155 out of 844 companies in the Biotechnology industry, placing it in the top 18.4%.
Is Shanghai Haohai Biological Technology Co's Net-Net Working Capital too high?
Shanghai Haohai Biological Technology Co's current Net-Net Working Capital is €0.91. Based on the distribution chart, Shanghai Haohai Biological Technology Co ranks #155 out of 844 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Shanghai Haohai Biological Technology Co has a GF Score™ of 86/100, reflecting its overall financial health beyond just this single metric.
How does Shanghai Haohai Biological Technology Co's Net-Net Working Capital compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Shanghai Haohai Biological Technology Co ranks #155 out of 844 companies for Net-Net Working Capital. This places Shanghai Haohai Biological Technology Co in the top 18% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 5.31. 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 Biotechnology company?
The median Net-Net Working Capital among Biotechnology companies is 5.31, based on 844 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 Shanghai Haohai Biological Technology Co For the Biotechnology industry, the median Net-Net Working Capital is 5.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shanghai Haohai Biological Technology Co's current Net-Net Working Capital is €0.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shanghai Haohai Biological Technology Co stock overvalued right now?
Shanghai Haohai Biological Technology Co (FRA:5HB) has a current Net-Net Working Capital of €0.91. The stock's GF Value™ is €2.84, compared to a current price of €1.78 — trading 37.3% below its estimated fair value. The current Net-Net Working Capital is €0.91. Shanghai Haohai Biological Technology Co's overall GF Score™ is 86/100 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 Shanghai Haohai Biological Technology Co (FRA:5HB), the current Net-Net Working Capital is €0.91 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 Shanghai Haohai Biological Technology Co (FRA:5HB) Overvalued in 2026?
Based on GuruFocus' analysis, Shanghai Haohai Biological Technology Co stock appears to be undervalued.
The current stock price of €1.78 is trading 37.3% below its estimated GF Value™ of €2.84.
Key valuation signals for FRA:5HB:
Net-Net Working Capital: €0.91
GF Value™: €2.84 vs. price of €1.78 (37.3% below fair value)
No single metric tells the full story. See the FRA:5HB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shanghai Haohai Biological Technology Co Ltd is engaged in the manufacturing and sale of biologicals, medical hyaluronate, and ophthalmology products. The Company's operating activities are related to a single operating segment, which is the manufacture and sale of biologicals, medical hyaluronate, and intraocular lenses, research and development of biological engineering and pharmaceutical products, and the provision of related services. Its products are categorized into four types, comprising ophthalmology, medical aesthetics, orthopedics, and anti-adhesion. Geographically, it has operations in Mainland China, which is the key revenue driver, the United States, the United Kingdom, and other countries.
86GF 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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