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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:FDY's Price-to-Net-Net-Working-Capital is ranked better than 86.44% of 413
companies
in the Drug Manufacturers industry
Industry Median: 7.78
vs FRA:FDY: 2.18
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co (FRA:FDY) 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 Fudan-Zhangjiang Bio-Pharmaceutical Co Net-Net Working Capital Related Terms
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical 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 Fudan-Zhangjiang Bio-Pharmaceutical Co Net-Net Working Capital Chart
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Annual Data
FRA:FDY vs ZTS: Net-Net Working Capital Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Shanghai Fudan-Zhangjiang Bio-Pharmaceutical 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 Fudan-Zhangjiang Bio-Pharmaceutical Co Price-to-Net-Net-Working-Capital vs Drug Manufacturers Industry
* 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 €0.12 mean?
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co (FRA:FDY) has a Net-Net Working Capital of €0.12 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 Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co According to the industry distribution chart, Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co ranks #56 out of 413 companies in the Drug Manufacturers industry, placing it in the top 13.6%.
Is Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co's Net-Net Working Capital too high?
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co's current Net-Net Working Capital is €0.12. Based on the distribution chart, Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co ranks #56 out of 413 companies in the Drug Manufacturers industry, which is in the top quartile — a strong position relative to peers. Overall, Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co's Net-Net Working Capital compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co ranks #56 out of 413 companies for Net-Net Working Capital. This places Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co in the top 14% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 7.78. 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 7.78, based on 413 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 Fudan-Zhangjiang Bio-Pharmaceutical Co For the Drug Manufacturers industry, the median Net-Net Working Capital is 7.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co's current Net-Net Working Capital is €0.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co stock overvalued right now?
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co (FRA:FDY) has a current Net-Net Working Capital of €0.12. The stock's GF Value™ is €0.23, compared to a current price of €0.26 — trading 13.9% above its estimated fair value. The current Net-Net Working Capital is €0.12. Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co's overall GF Score™ is 69/100 with 2 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 Fudan-Zhangjiang Bio-Pharmaceutical Co (FRA:FDY), the current Net-Net Working Capital is €0.12 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 Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co (FRA:FDY) Overvalued in 2026?
Based on GuruFocus' analysis, Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co stock appears to be overvalued.
The current stock price of €0.26 is trading 13.9% above its estimated GF Value™ of €0.23.
Key valuation signals for FRA:FDY:
Net-Net Working Capital: €0.12
GF Value™: €0.23 vs. price of €0.26 (13.9% above fair value)
No single metric tells the full story. See the FRA:FDY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Business Description
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd is engaged in the research, development, manufacturing, and sale of biopharmaceutical products. Its product portfolio includes ALA (Aminolevulinic acid Hydrochloride); FuMeiDa and Libord. The company has launched it's four types of photodynamic drugs in China market, namely hematoporphyrin, aminolevulinic acid hydrochloride, Verteporfin and Hemoporfin. Geographically, it derives revenue from Mainland China.
69GF Score
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