Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
Koito Manufacturing Co's Net-Net Working Capital for the quarter that ended in Jun. 2026 was $3.51.
The industry rank for Koito Manufacturing Co's Net-Net Working Capital or its related term are showing as below:
KOTMF's Price-to-Net-Net-Working-Capital is ranked better than 64.57% of 381
companies
in the Vehicles & Parts industry
Industry Median: 7.88
vs KOTMF: 4.78
Koito Manufacturing Co (OTCPK:KOTMF) 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.
Koito Manufacturing Co Net-Net Working Capital Related Terms
Koito Manufacturing Co Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Koito Manufacturing 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.
Koito Manufacturing Co Net-Net Working Capital Chart
KOTMF vs ORLY, AZO: Net-Net Working Capital Comparison
For the Auto Parts subindustry, Koito Manufacturing 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.
Koito Manufacturing Co Price-to-Net-Net-Working-Capital vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Koito Manufacturing Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Koito Manufacturing 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 $3.51 mean?
Koito Manufacturing Co (KOTMF) has a Net-Net Working Capital of $3.51 as of Jun. 2026. 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 Koito Manufacturing Co According to the industry distribution chart, Koito Manufacturing Co ranks #135 out of 381 companies in the Vehicles & Parts industry, placing it in the top 35.4%.
Is Koito Manufacturing Co's Net-Net Working Capital too high?
Koito Manufacturing Co's current Net-Net Working Capital is $3.51. The Vehicles & Parts industry median Net-Net Working Capital is 7.88. Koito Manufacturing Co's value of $3.51 is 55.5% below this industry median. Based on the distribution chart, Koito Manufacturing Co ranks #135 out of 381 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, Koito Manufacturing Co has a GF Score™ of 87/100, reflecting its overall financial health beyond just this single metric.
How does Koito Manufacturing Co's Net-Net Working Capital compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Koito Manufacturing Co ranks #135 out of 381 companies for Net-Net Working Capital. This puts Koito Manufacturing Co in the upper half of its industry. The industry median Net-Net Working Capital is 7.88. Koito Manufacturing Co's value of $3.51 is 55.5% 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 Vehicles & Parts company?
The median Net-Net Working Capital among Vehicles & Parts companies is 7.88, based on 381 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. Koito Manufacturing Co's current Net-Net Working Capital of $3.51 is 55.5% 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 Koito Manufacturing Co For the Vehicles & Parts industry, the median Net-Net Working Capital is 7.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Koito Manufacturing Co's current Net-Net Working Capital is $3.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Koito Manufacturing Co stock overvalued right now?
Koito Manufacturing Co (KOTMF) has a current Net-Net Working Capital of $3.51. The stock's GF Value™ is $15.24, compared to a current price of $16.05 — trading 5.3% above its estimated fair value. The current Net-Net Working Capital is $3.51 and 55.5% below the Vehicles & Parts industry median of 7.88. Koito Manufacturing Co's overall GF Score™ is 87/100 with 5 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 Koito Manufacturing Co (KOTMF), the current Net-Net Working Capital is $3.51 as of Jun. 2026. 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 Koito Manufacturing Co (KOTMF) Overvalued in 2026?
Based on GuruFocus' analysis, Koito Manufacturing Co stock appears to be overvalued.
The current stock price of $16.05 is trading 5.3% above its estimated GF Value™ of $15.24.
Key valuation signals for KOTMF:
Net-Net Working Capital: $3.51
GF Value™: $15.24 vs. price of $16.05 (5.3% above fair value)
Industry Position: 55.5% below the Vehicles & Parts median (#135 of 381)
No single metric tells the full story. See the KOTMF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Koito Manufacturing Co Ltd mainly produces automotive lighting equipment for domestic and international markets and supplies products globally. The company operates through six geographical segments: Japan, North America, China, Asia, Europe, and Other. In addition to automotive lighting, it also manufactures and sells railroad vehicle control equipment, aircraft parts, and railroad vehicle seats.
87GF Score
Get the complete analysis for KOTMF
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
KOTMF has been successfully added to your 
