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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.
JE Cleantech Holdings's Net-Net Working Capital for the quarter that ended in Dec. 2025 was $1.01.
The industry rank for JE Cleantech Holdings's Net-Net Working Capital or its related term are showing as below:
JCSE's Price-to-Net-Net-Working-Capital is ranked better than 94.71% of 1360
companies
in the Industrial Products industry
Industry Median: 7.95
vs JCSE: 1.31
JE Cleantech Holdings (NAS:JCSE) 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.
JE Cleantech Holdings Net-Net Working Capital Related Terms
JE Cleantech Holdings Net-Net Working Capital Historical Data
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The historical data trend for JE Cleantech 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.
JE Cleantech Holdings Net-Net Working Capital Chart
JCSE vs CVAT, CEIN, CETY: Net-Net Working Capital Comparison
For the Specialty Industrial Machinery subindustry, JE Cleantech 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.
JE Cleantech Holdings Price-to-Net-Net-Working-Capital vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, JE Cleantech Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where JE Cleantech 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 $1.01 mean?
JE Cleantech Holdings (JCSE) has a Net-Net Working Capital of $1.01 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 JE Cleantech Holdings According to the industry distribution chart, JE Cleantech Holdings ranks #72 out of 1360 companies in the Industrial Products industry, placing it in the top 5.3%.
Is JE Cleantech Holdings' Net-Net Working Capital too high?
JE Cleantech Holdings' current Net-Net Working Capital is $1.01. The Industrial Products industry median Net-Net Working Capital is 7.95. JE Cleantech Holdings' value of $1.01 is 87.3% below this industry median. Based on the distribution chart, JE Cleantech Holdings ranks #72 out of 1360 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, JE Cleantech Holdings has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does JE Cleantech Holdings' Net-Net Working Capital compare to CVAT and CEIN?
According to the Industrial Products industry distribution chart, JE Cleantech Holdings ranks #72 out of 1360 companies for Net-Net Working Capital. This places JE Cleantech Holdings in the top 5% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 7.95. JE Cleantech Holdings' value of $1.01 is 87.3% 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 an Industrial Products company?
The median Net-Net Working Capital among Industrial Products companies is 7.95, based on 1,360 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. JE Cleantech Holdings's current Net-Net Working Capital of $1.01 is 87.3% 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 JE Cleantech Holdings For the Industrial Products industry, the median Net-Net Working Capital is 7.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. JE Cleantech Holdings's current Net-Net Working Capital is $1.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JE Cleantech Holdings stock overvalued right now?
Based on GuruFocus' analysis, JE Cleantech Holdings (JCSE) is currently considered Fairly Valued. The stock's GF Value™ is $1.32, compared to a current price of $1.32 — trading right at its estimated fair value. The current Net-Net Working Capital is $1.01 and 87.3% below the Industrial Products industry median of 7.95. JE Cleantech Holdings' overall GF Score™ is 67/100 with 3 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 JE Cleantech Holdings (JCSE), the current Net-Net Working Capital is $1.01 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 JE Cleantech Holdings (JCSE) Overvalued in 2026?
Based on GuruFocus' analysis, JE Cleantech Holdings stock appears to be undervalued.
The current stock price of $1.32 is trading 0% below its estimated GF Value™ of $1.32.
GuruFocus considers JE Cleantech Holdings to be Fairly Valued.
Key valuation signals for JCSE:
Net-Net Working Capital: $1.01
GF Value™: $1.32 vs. price of $1.32 (0% below fair value)
Industry Position: 87.3% below the Industrial Products median (#72 of 1360)
No single metric tells the full story. See the JCSE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
JE Cleantech Holdings Ltd is engaged in the manufacturing and selling of cleaning systems and other equipment that can be categorized into four different categories, namely aqueous washing systems, plating and cleaning systems, train cleaning systems, and other equipment, such as filtration units. The company is also into designing, developing, and manufacturing other cleaning systems for various industrial end-use applications using its R&D and engineering capabilities. The company has two operating segments namely sale of cleaning systems and other equipment and provision of centralized dishware washing and general cleaning services. Geographically, the company derives a majority of its revenue from Singapore.
67GF Score
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