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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.
Trust Holdings's Net-Net Working Capital for the quarter that ended in Dec. 2025 was 円-1,378.58.
The industry rank for Trust Holdings's Net-Net Working Capital or its related term are showing as below:
FSE:3286's Price-to-Net-Net-Working-Capital is not ranked *
in the Business Services industry.
Industry Median: 5.41 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Trust Holdings (FSE:3286) 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.
Trust Holdings Net-Net Working Capital Related Terms
Trust Holdings Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Trust Holdings'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:3286 vs CTAS, CPRT, GPN: Net-Net Working Capital Comparison
For the Specialty Business Services subindustry, Trust Holdings'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.
Trust Holdings Price-to-Net-Net-Working-Capital vs Business Services Industry
For the Business Services industry and Industrials sector, Trust Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Trust Holdings'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-1,378.58 mean?
Trust Holdings (FSE:3286) has a Net-Net Working Capital of 円-1,378.58 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 Trust Holdings According to the industry distribution chart, Trust Holdings ranks #999999 out of 445 companies in the Business Services industry.
Is Trust Holdings' Net-Net Working Capital too high?
Trust Holdings' current Net-Net Working Capital is 円-1,378.58. Based on the distribution chart, Trust Holdings ranks #999999 out of 445 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, Trust Holdings has a GF Score™ of 59/100, reflecting its overall financial health beyond just this single metric.
How does Trust Holdings' Net-Net Working Capital compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Trust Holdings ranks #999999 out of 445 companies for Net-Net Working Capital. This places Trust Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 5.41. 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 Business Services company?
The median Net-Net Working Capital among Business Services companies is 5.41, based on 445 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 Trust Holdings For the Business Services industry, the median Net-Net Working Capital is 5.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Trust Holdings's current Net-Net Working Capital is 円-1,378.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Trust Holdings stock overvalued right now?
Trust Holdings (FSE:3286) has a current Net-Net Working Capital of 円-1,378.58. The stock's GF Value™ is 円358.55, compared to a current price of 円630.00 — trading 75.7% above its estimated fair value. The current Net-Net Working Capital is 円-1,378.58. Trust Holdings' overall GF Score™ is 59/100 with 6 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 Trust Holdings (FSE:3286), the current Net-Net Working Capital is 円-1,378.58 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 Trust Holdings (FSE:3286) Overvalued in 2026?
Based on GuruFocus' analysis, Trust Holdings stock appears to be overvalued.
The current stock price of 円630.00 is trading 75.7% above its estimated GF Value™ of 円358.55.
Key valuation signals for FSE:3286:
Net-Net Working Capital: 円-1,378.58
GF Value™: 円358.55 vs. price of 円630.00 (75.7% above fair value)
No single metric tells the full story. See the FSE:3286 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Trust Holdings Inc provides consultation, research, operation management and education services in commercial parking businsess. The company operates in two business segments. The parking lot business segment is engaged in the operation of parking lots that were built from idle lands. The real estate business segment is engaged in the planning and development.
59GF Score
Get the complete analysis for FSE:3286
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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