Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Kokuyo CoFRA:KOK 92 Net-Net Working Capital is €1.11 as of Jun. 2026. GuruFocus rates FRA:KOK with a GF Score™ of 92/100 and a GF Value™ of €3.89. The stock has 2 warning signs investors should review. Among 1,325 Industrial Products companies, Kokuyo Co ranks better than 72.83% 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.
Kokuyo Co's Net-Net Working Capital for the quarter that ended in Jun. 2026 was €1.11.
The industry rank for Kokuyo Co's Net-Net Working Capital or its related term are showing as below:
FRA:KOK's Price-to-Net-Net-Working-Capital is ranked better than 72.83% of 1325
companies
in the Industrial Products industry
Industry Median: 8.09
vs FRA:KOK: 4.17
Kokuyo Co (FRA:KOK) 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.
Kokuyo Co Net-Net Working Capital Related Terms
Kokuyo Co Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Kokuyo Co'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.
Kokuyo Co Net-Net Working Capital Competitor Comparison
For the Business Equipment & Supplies subindustry, Kokuyo 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.
Kokuyo Co Price-to-Net-Net-Working-Capital vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Kokuyo Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Kokuyo 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 €1.11 mean?
Kokuyo Co (FRA:KOK) has a Net-Net Working Capital of €1.11 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 Kokuyo Co According to the industry distribution chart, Kokuyo Co ranks #360 out of 1325 companies in the Industrial Products industry, placing it in the top 27.2%.
Is Kokuyo Co's Net-Net Working Capital too high?
Kokuyo Co's current Net-Net Working Capital is €1.11. Based on the distribution chart, Kokuyo Co ranks #360 out of 1325 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Kokuyo Co has a GF Score™ of 92/100, reflecting its overall financial health beyond just this single metric.
How does Kokuyo Co's Net-Net Working Capital compare to competitors?
According to the Industrial Products industry distribution chart, Kokuyo Co ranks #360 out of 1325 companies for Net-Net Working Capital. This puts Kokuyo Co in the upper half of its industry. The industry median Net-Net Working Capital is 8.09. 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 an Industrial Products company?
The median Net-Net Working Capital among Industrial Products companies is 8.09, based on 1,325 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 Kokuyo Co For the Industrial Products industry, the median Net-Net Working Capital is 8.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kokuyo Co's current Net-Net Working Capital is €1.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kokuyo Co stock overvalued right now?
Kokuyo Co (FRA:KOK) has a current Net-Net Working Capital of €1.11. The stock's GF Value™ is €3.89, compared to a current price of €4.50 — trading 15.7% above its estimated fair value. The current Net-Net Working Capital is €1.11. Kokuyo Co's overall GF Score™ is 92/100 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 Kokuyo Co (FRA:KOK), the current Net-Net Working Capital is €1.11 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 Kokuyo Co (FRA:KOK) Overvalued in 2026?
Based on GuruFocus' analysis, Kokuyo Co stock appears to be overvalued.
The current stock price of €4.50 is trading 15.7% above its estimated GF Value™ of €3.89.
Key valuation signals for FRA:KOK:
Net-Net Working Capital: €1.11
GF Value™: €3.89 vs. price of €4.50 (15.7% above fair value)
No single metric tells the full story. See the FRA:KOK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kokuyo Co Ltd is engaged in the manufacture, purchase, and sale of stationery, office furniture, and store utensils for retail businesses, as well as space design and consultation. The company operates through four segments: stationery, furniture, mail-order, and retail. The stationery business supplies stationery in Japan and other regions, including Vietnam, China, and India. The furniture business consists of the production and sale of office furniture, store fixtures, and furniture for public and commercial spaces. The mail-order and retail business provides mail-order services for individuals and retail and wholesale businesses, along with electronic purchasing systems and the operation of information sites.
92GF Score
Get the complete analysis for FRA:KOK
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:KOK has been successfully added to your 
