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MBSFSE:1401 20 Net-Net Working Capital is 円204.01 as of Feb. 2026. GuruFocus rates FSE:1401 with a GF Score™ of 20/100 and a GF Value™ of 円1,307.18. The stock has 1 warning sign investors should review. Among 478 Construction companies, MBS ranks better than 68.2% 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.
MBS's Net-Net Working Capital for the quarter that ended in Feb. 2026 was 円204.01.
The industry rank for MBS's Net-Net Working Capital or its related term are showing as below:
FSE:1401's Price-to-Net-Net-Working-Capital is ranked better than 68.2% of 478
companies
in the Construction industry
Industry Median: 6.67
vs FSE:1401: 3.67
MBS (FSE:1401) 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.
MBS Net-Net Working Capital Related Terms
MBS Net-Net Working Capital Historical Data
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The historical data trend for MBS'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.
FSE:1401 vs PWR, FIX, EME: Net-Net Working Capital Comparison
For the Engineering & Construction subindustry, MBS'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.
MBS Price-to-Net-Net-Working-Capital vs Construction Industry
For the Construction industry and Industrials sector, MBS's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where MBS'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 円204.01 mean?
MBS (FSE:1401) has a Net-Net Working Capital of 円204.01 as of Feb. 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 MBS According to the industry distribution chart, MBS ranks #152 out of 478 companies in the Construction industry, placing it in the top 31.8%.
Is MBS's Net-Net Working Capital too high?
MBS's current Net-Net Working Capital is 円204.01. Based on the distribution chart, MBS ranks #152 out of 478 companies in the Construction industry, which is above the industry midpoint. Overall, MBS has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does MBS's Net-Net Working Capital compare to PWR and FIX?
According to the Construction industry distribution chart, MBS ranks #152 out of 478 companies for Net-Net Working Capital. This puts MBS in the upper half of its industry. The industry median Net-Net Working Capital is 6.67. 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 Construction company?
The median Net-Net Working Capital among Construction companies is 6.67, based on 478 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 MBS For the Construction industry, the median Net-Net Working Capital is 6.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MBS's current Net-Net Working Capital is 円204.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MBS stock overvalued right now?
MBS (FSE:1401) has a current Net-Net Working Capital of 円204.01. The stock's GF Value™ is 円1,307.18, compared to a current price of 円1,070.00 — trading 18.1% below its estimated fair value. The current Net-Net Working Capital is 円204.01. MBS's overall GF Score™ is 20/100 with 1 warning sign 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 MBS (FSE:1401), the current Net-Net Working Capital is 円204.01 as of Feb. 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 MBS (FSE:1401) Overvalued in 2026?
Based on GuruFocus' analysis, MBS stock appears to be undervalued.
The current stock price of 円1,070.00 is trading 18.1% below its estimated GF Value™ of 円1,307.18.
Key valuation signals for FSE:1401:
Net-Net Working Capital: 円204.01
GF Value™: 円1,307.18 vs. price of 円1,070.00 (18.1% below fair value)
No single metric tells the full story. See the FSE:1401 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MBS Inc is a Japanese firm engaged in exterior and interior decoration of houses and buildings. It develops and sells functional paint and offers construction work. It also provides disaster prevention coating.
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