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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.
HSTC:FRC's Price-to-Net-Net-Working-Capital is ranked better than 92.61% of 176
companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 6.615
vs HSTC:FRC: 1.04
Forest Products Export of Quang Nam JSC (HSTC:FRC) 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.
Forest Products Export of Quang Nam JSC Net-Net Working Capital Related Terms
Forest Products Export of Quang Nam JSC 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.
Forest Products Export of Quang Nam JSC Net-Net Working Capital Chart
Forest Products Export of Quang Nam JSC Annual Data
HSTC:FRC vs SN, SGI, MHK: Net-Net Working Capital Comparison
For the Furnishings, Fixtures & Appliances subindustry, Forest Products Export of Quang Nam JSC'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.
Forest Products Export of Quang Nam JSC Price-to-Net-Net-Working-Capital vs Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Forest Products Export of Quang Nam JSC's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Forest Products Export of Quang Nam JSC'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 ₫23,958.58 mean?
Forest Products Export of Quang Nam JSC (HSTC:FRC) has a Net-Net Working Capital of ₫23,958.58 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 Forest Products Export of Quang Nam JSC According to the industry distribution chart, Forest Products Export of Quang Nam JSC ranks #13 out of 176 companies in the Furnishings, Fixtures & Appliances industry, placing it in the top 7.4%.
Is Forest Products Export of Quang Nam JSC's Net-Net Working Capital too high?
Forest Products Export of Quang Nam JSC's current Net-Net Working Capital is ₫23,958.58. Based on the distribution chart, Forest Products Export of Quang Nam JSC ranks #13 out of 176 companies in the Furnishings, Fixtures & Appliances industry, which is in the top quartile — a strong position relative to peers. Overall, Forest Products Export of Quang Nam JSC has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forest Products Export of Quang Nam JSC's Net-Net Working Capital compare to SN and SGI?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Forest Products Export of Quang Nam JSC ranks #13 out of 176 companies for Net-Net Working Capital. This places Forest Products Export of Quang Nam JSC in the top 7% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 6.62. 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 Furnishings, Fixtures & Appliances company?
The median Net-Net Working Capital among Furnishings, Fixtures & Appliances companies is 6.62, based on 176 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 Forest Products Export of Quang Nam JSC For the Furnishings, Fixtures & Appliances industry, the median Net-Net Working Capital is 6.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forest Products Export of Quang Nam JSC's current Net-Net Working Capital is ₫23,958.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forest Products Export of Quang Nam JSC stock overvalued right now?
Based on GuruFocus' analysis, Forest Products Export of Quang Nam JSC (HSTC:FRC) is currently considered Significantly Overvalued. The stock's GF Value™ is ₫16,903.80, compared to a current price of ₫25,000.00 — trading 47.9% above its estimated fair value. The current Net-Net Working Capital is ₫23,958.58. Forest Products Export of Quang Nam JSC's overall GF Score™ is 59/100 with 9 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 Forest Products Export of Quang Nam JSC (HSTC:FRC), the current Net-Net Working Capital is ₫23,958.58 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 Forest Products Export of Quang Nam JSC (HSTC:FRC) Overvalued in 2026?
Based on GuruFocus' analysis, Forest Products Export of Quang Nam JSC stock appears to be overvalued.
The current stock price of ₫25,000.00 is trading 47.9% above its estimated GF Value™ of ₫16,903.80.
GuruFocus considers Forest Products Export of Quang Nam JSC to be Significantly Overvalued.
Key valuation signals for HSTC:FRC:
Net-Net Working Capital: ₫23,958.58
GF Value™: ₫16,903.80 vs. price of ₫25,000.00 (47.9% above fair value)
No single metric tells the full story. See the HSTC:FRC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forest Products Export of Quang Nam JSC Business Description
Forest Products Export of Quang Nam JSC specializing in manufacturing outdoor and indoor furniture in Vietnam. Its products include Bench with central table; Folding Armchair; Position Chair; Bar Chair and Other.
59GF 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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