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Kokusai ElectricFRA:69B +7.48%39 Net-Net Working Capital is €-0.24 as of Jun. 2026. GuruFocus rates FRA:69B with a GF Score™ of 39/100 and a GF Value™ of €26.82 (Significantly Overvalued). Among 533 Semiconductors companies, Kokusai Electric ranks worse than 187617.07% on this metric.
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.
Kokusai Electric's Net-Net Working Capital for the quarter that ended in Jun. 2026 was €-0.24.
The industry rank for Kokusai Electric's Net-Net Working Capital or its related term are showing as below:
FRA:69B's Price-to-Net-Net-Working-Capital is not ranked *
in the Semiconductors industry.
Industry Median: 11.84 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Kokusai Electric (FRA:69B) 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.
Kokusai Electric Net-Net Working Capital Related Terms
Kokusai Electric Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Kokusai Electric'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.
FRA:69B vs AMAT, LRCX, KLAC: Net-Net Working Capital Comparison
For the Semiconductor Equipment & Materials subindustry, Kokusai Electric'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.
Kokusai Electric Price-to-Net-Net-Working-Capital vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Kokusai Electric's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Kokusai Electric'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?
Kokusai Electric (FRA:69B) has a Net-Net Working Capital of €-0.24 as of Jun. 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 Kokusai Electric According to the industry distribution chart, Kokusai Electric ranks #999999 out of 533 companies in the Semiconductors industry.
Is Kokusai Electric's Net-Net Working Capital too high?
Kokusai Electric's current Net-Net Working Capital is €-0.24. Based on the distribution chart, Kokusai Electric ranks #999999 out of 533 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, Kokusai Electric has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kokusai Electric's Net-Net Working Capital compare to AMAT and LRCX?
According to the Semiconductors industry distribution chart, Kokusai Electric ranks #999999 out of 533 companies for Net-Net Working Capital. This places Kokusai Electric in the lower half of its industry. The industry median Net-Net Working Capital is 11.84. 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 Semiconductors company?
The median Net-Net Working Capital among Semiconductors companies is 11.84, based on 533 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 Kokusai Electric For the Semiconductors industry, the median Net-Net Working Capital is 11.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kokusai Electric'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 Kokusai Electric stock overvalued right now?
Based on GuruFocus' analysis, Kokusai Electric (FRA:69B) is currently considered Significantly Overvalued. The stock's GF Value™ is €26.82, compared to a current price of €46.00 — trading 71.5% above its estimated fair value. The current Net-Net Working Capital is €-0.24. Kokusai Electric's overall GF Score™ is 39/100. 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 Kokusai Electric (FRA:69B), the current Net-Net Working Capital is €-0.24 as of Jun. 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 Kokusai Electric (FRA:69B) Overvalued in 2026?
Based on GuruFocus' analysis, Kokusai Electric stock appears to be overvalued.
The current stock price of €46.00 is trading 71.5% above its estimated GF Value™ of €26.82.
GuruFocus considers Kokusai Electric to be Significantly Overvalued.
Key valuation signals for FRA:69B:
Net-Net Working Capital: €-0.24
GF Value™: €26.82 vs. price of €46.00 (71.5% above fair value)
No single metric tells the full story. See the FRA:69B stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kokusai Electric Corp is engaged in the semiconductor manufacturing equipment business. The company operates as a single business segment focused on the development, manufacture, and supply of semiconductor production equipment used in the fabrication of electronic components. The main products include batch film deposition equipment, treatment equipment for film quality improvement, units for measuring instruments and cleaning equipment, and others.
39GF Score
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