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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.
Hogy Medical Co's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $2.56.
The industry rank for Hogy Medical Co's Net-Net Working Capital or its related term are showing as below:
HGYMF's Price-to-Net-Net-Working-Capital is not ranked
in the Medical Devices & Instruments industry.
Industry Median: 7.22
vs HGYMF: 16.66
Hogy Medical Co (OTCPK:HGYMF) 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.
Hogy Medical Co Net-Net Working Capital Related Terms
Hogy Medical Co Net-Net Working Capital Historical Data
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The historical data trend for Hogy Medical 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.
HGYMF vs ISRG, BDX, MDLN: Net-Net Working Capital Comparison
For the Medical Instruments & Supplies subindustry, Hogy Medical 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.
Hogy Medical Co Price-to-Net-Net-Working-Capital vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Hogy Medical Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Hogy Medical 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 $2.56 mean?
Hogy Medical Co (HGYMF) has a Net-Net Working Capital of $2.56 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 Hogy Medical Co
Is Hogy Medical Co's Net-Net Working Capital too high?
Hogy Medical Co's current Net-Net Working Capital is $2.56. The Medical Devices & Instruments industry median Net-Net Working Capital is 7.22. Hogy Medical Co's value of $2.56 is 64.5% below this industry median. Overall, Hogy Medical Co has a GF Score™ of 57/100, reflecting its overall financial health beyond just this single metric.
How does Hogy Medical Co's Net-Net Working Capital compare to ISRG and BDX?
Hogy Medical Co's Net-Net Working Capital of $2.56 can be compared against companies in the Medical Devices & Instruments industry. The industry median Net-Net Working Capital is 7.22. Hogy Medical Co's value of $2.56 is 64.5% below this benchmark. 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 Medical Devices & Instruments company?
The median Net-Net Working Capital among Medical Devices & Instruments companies is 7.22, based on 419 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. Hogy Medical Co's current Net-Net Working Capital of $2.56 is 64.5% below the industry median. 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 Hogy Medical Co For the Medical Devices & Instruments industry, the median Net-Net Working Capital is 7.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hogy Medical Co's current Net-Net Working Capital is $2.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hogy Medical Co stock overvalued right now?
Hogy Medical Co (HGYMF) has a current Net-Net Working Capital of $2.56. The stock's GF Value™ is $23.23, compared to a current price of $34.99 — trading 50.6% above its estimated fair value. The current Net-Net Working Capital is $2.56 and 64.5% below the Medical Devices & Instruments industry median of 7.22. Hogy Medical Co's overall GF Score™ is 57/100 with 10 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 Hogy Medical Co (HGYMF), the current Net-Net Working Capital is $2.56 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 Hogy Medical Co (HGYMF) Overvalued in 2026?
Based on GuruFocus' analysis, Hogy Medical Co stock appears to be overvalued.
The current stock price of $34.99 is trading 50.6% above its estimated GF Value™ of $23.23.
Key valuation signals for HGYMF:
Net-Net Working Capital: $2.56
GF Value™: $23.23 vs. price of $34.99 (50.6% above fair value)
Industry Position: 64.5% below the Medical Devices & Instruments median
No single metric tells the full story. See the HGYMF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hogy Medical Co Ltd develops and sells products that can be used to streamline operations and improve safety at healthcare facilities. Its products are used in hospitals' operating rooms, wards, material rooms, and administrative settings. Hogy Medical receives the majority of its revenue from sales of surgical-use products. Its key products include kit products, nonwoven products, and sterilization products. The kit products contain sterilized surgical supplies for use in a specific operation. The nonwoven products include gowns, caps, equipment covers, and other accessories. Hogy's primary sterilization product is the Mekkin bag, a sterilization pouch. The vast majority of Hogy's revenue is generated in Japan.
57GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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