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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.
HKSE:08037's Price-to-Net-Net-Working-Capital is not ranked *
in the Medical Diagnostics & Research industry.
Industry Median: 6.695 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
China Biotech Services Holdings (HKSE:08037) 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.
China Biotech Services Holdings Net-Net Working Capital Related Terms
China Biotech Services Holdings 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.
China Biotech Services Holdings Net-Net Working Capital Chart
HKSE:08037 vs TMO, DHR, NTRA: Net-Net Working Capital Comparison
For the Diagnostics & Research subindustry, China Biotech Services 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.
China Biotech Services Holdings Price-to-Net-Net-Working-Capital vs Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, China Biotech Services Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where China Biotech Services 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 HK$-0.49 mean?
China Biotech Services Holdings (HKSE:08037) has a Net-Net Working Capital of HK$-0.49 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 China Biotech Services Holdings According to the industry distribution chart, China Biotech Services Holdings ranks #999999 out of 78 companies in the Medical Diagnostics & Research industry.
Is China Biotech Services Holdings' Net-Net Working Capital too high?
China Biotech Services Holdings' current Net-Net Working Capital is HK$-0.49. Based on the distribution chart, China Biotech Services Holdings ranks #999999 out of 78 companies in the Medical Diagnostics & Research industry, which is in the bottom quartile relative to peers. Overall, China Biotech Services Holdings has a GF Score™ of 29/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does China Biotech Services Holdings' Net-Net Working Capital compare to TMO and DHR?
According to the Medical Diagnostics & Research industry distribution chart, China Biotech Services Holdings ranks #999999 out of 78 companies for Net-Net Working Capital. This places China Biotech Services Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 6.70. 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 Diagnostics & Research company?
The median Net-Net Working Capital among Medical Diagnostics & Research companies is 6.70, based on 78 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 China Biotech Services Holdings For the Medical Diagnostics & Research industry, the median Net-Net Working Capital is 6.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Biotech Services Holdings's current Net-Net Working Capital is HK$-0.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Biotech Services Holdings stock overvalued right now?
Based on GuruFocus' analysis, China Biotech Services Holdings (HKSE:08037) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.26, compared to a current price of HK$0.60 — trading 130.8% above its estimated fair value. The current Net-Net Working Capital is HK$-0.49. China Biotech Services Holdings' overall GF Score™ is 29/100 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 China Biotech Services Holdings (HKSE:08037), the current Net-Net Working Capital is HK$-0.49 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 China Biotech Services Holdings (HKSE:08037) Overvalued in 2026?
Based on GuruFocus' analysis, China Biotech Services Holdings stock appears to be overvalued.
The current stock price of HK$0.60 is trading 130.8% above its estimated GF Value™ of HK$0.26.
GuruFocus considers China Biotech Services Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:08037:
Net-Net Working Capital: HK$-0.49
GF Value™: HK$0.26 vs. price of HK$0.60 (130.8% above fair value)
No single metric tells the full story. See the HKSE:08037 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Biotech Services Holdings Ltd is an investment holding company. It operates through five segments: Pharmaceutical Products, Medical and Health-Related Services, Immunotherapy, Insurance brokerage, BNCT, and Others. It derives prime revenue from the Medical & health-related services segment, which involves the provision of medical laboratory testing & health check services. The group has a business presence in Hong Kong & the PRC, of which key revenue is generated from Hong Kong. Immunotherapy-provision of tumor immune cell therapy & health management services. Pharmaceutical products-sale & distribution of health-related & pharmaceutical products. Insurance brokerage services. BNCT-provision of boron neutron capture therapy treatment services, & Others-provision of logistic services.
29GF Score
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