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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.
Tai Kam Holdings's Net-Net Working Capital for the quarter that ended in Oct. 2025 was HK$0.20.
The industry rank for Tai Kam Holdings's Net-Net Working Capital or its related term are showing as below:
HKSE:08321's Price-to-Net-Net-Working-Capital is ranked worse than 64.88% of 484
companies
in the Construction industry
Industry Median: 6.06
vs HKSE:08321: 9.10
Tai Kam Holdings (HKSE:08321) 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.
Tai Kam Holdings Net-Net Working Capital Related Terms
Tai Kam Holdings Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Tai Kam 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.
HKSE:08321 vs PWR, FIX, EME: Net-Net Working Capital Comparison
For the Engineering & Construction subindustry, Tai Kam 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.
Tai Kam Holdings Price-to-Net-Net-Working-Capital vs Construction Industry
For the Construction industry and Industrials sector, Tai Kam Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Tai Kam 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$0.20 mean?
Tai Kam Holdings (HKSE:08321) has a Net-Net Working Capital of HK$0.20 as of Oct. 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 Tai Kam Holdings According to the industry distribution chart, Tai Kam Holdings ranks #314 out of 484 companies in the Construction industry, placing it in the top 64.9%.
Is Tai Kam Holdings' Net-Net Working Capital too high?
Tai Kam Holdings' current Net-Net Working Capital is HK$0.20. Based on the distribution chart, Tai Kam Holdings ranks #314 out of 484 companies in the Construction industry, which is below the industry midpoint. Overall, Tai Kam Holdings has a GF Score™ of 31/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tai Kam Holdings' Net-Net Working Capital compare to PWR and FIX?
According to the Construction industry distribution chart, Tai Kam Holdings ranks #314 out of 484 companies for Net-Net Working Capital. This places Tai Kam Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 6.06. 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 6.06, based on 484 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 Tai Kam Holdings For the Construction industry, the median Net-Net Working Capital is 6.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tai Kam Holdings's current Net-Net Working Capital is HK$0.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tai Kam Holdings stock overvalued right now?
Based on GuruFocus' analysis, Tai Kam Holdings (HKSE:08321) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.18, compared to a current price of HK$1.82 — trading 911.1% above its estimated fair value. The current Net-Net Working Capital is HK$0.20. Tai Kam Holdings' overall GF Score™ is 31/100 with 4 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 Tai Kam Holdings (HKSE:08321), the current Net-Net Working Capital is HK$0.20 as of Oct. 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 Tai Kam Holdings (HKSE:08321) Overvalued in 2026?
Based on GuruFocus' analysis, Tai Kam Holdings stock appears to be overvalued.
The current stock price of HK$1.82 is trading 911.1% above its estimated GF Value™ of HK$0.18.
GuruFocus considers Tai Kam Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:08321:
Net-Net Working Capital: HK$0.20
GF Value™: HK$0.18 vs. price of HK$1.82 (911.1% above fair value)
No single metric tells the full story. See the HKSE:08321 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tai Kam Holdings Ltd is an investment holding company. Along with its subsidiaries, it is principally engaged in the construction business, mainly site formation works and renovation works in Hong Kong. Site formation works generally include piling works, landslip preventive and remedial works for improving or maintaining the stability of slopes and/or retaining walls. Renovation works refer to the fitting-out work for premises in Hong Kong. The group considers its business of undertaking site formation works and renovation works as a main contractor in Hong Kong as a single operating segment.
31GF 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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