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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.
Chubu Steel Plate Co's Net-Net Working Capital for the quarter that ended in Mar. 2026 was 円903.11.
The industry rank for Chubu Steel Plate Co's Net-Net Working Capital or its related term are showing as below:
NGO:5461's Price-to-Net-Net-Working-Capital is ranked better than 64.2% of 176
companies
in the Steel industry
Industry Median: 4.62
vs NGO:5461: 2.31
Chubu Steel Plate Co (NGO:5461) 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.
Chubu Steel Plate Co Net-Net Working Capital Related Terms
Chubu Steel Plate Co Net-Net Working Capital Historical Data
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The historical data trend for Chubu Steel Plate 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.
Chubu Steel Plate Co Net-Net Working Capital Chart
NGO:5461 vs NUE, STLD, RS: Net-Net Working Capital Comparison
For the Steel subindustry, Chubu Steel Plate 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.
Chubu Steel Plate Co Price-to-Net-Net-Working-Capital vs Steel Industry
For the Steel industry and Basic Materials sector, Chubu Steel Plate Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Chubu Steel Plate 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 円903.11 mean?
Chubu Steel Plate Co (NGO:5461) has a Net-Net Working Capital of 円903.11 as of Mar. 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 Chubu Steel Plate Co According to the industry distribution chart, Chubu Steel Plate Co ranks #63 out of 176 companies in the Steel industry, placing it in the top 35.8%.
Is Chubu Steel Plate Co's Net-Net Working Capital too high?
Chubu Steel Plate Co's current Net-Net Working Capital is 円903.11. Based on the distribution chart, Chubu Steel Plate Co ranks #63 out of 176 companies in the Steel industry, which is above the industry midpoint. Overall, Chubu Steel Plate Co has a GF Score™ of 72/100, reflecting its overall financial health beyond just this single metric.
How does Chubu Steel Plate Co's Net-Net Working Capital compare to NUE and STLD?
According to the Steel industry distribution chart, Chubu Steel Plate Co ranks #63 out of 176 companies for Net-Net Working Capital. This puts Chubu Steel Plate Co in the upper half of its industry. The industry median Net-Net Working Capital is 4.62. 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 Steel company?
The median Net-Net Working Capital among Steel companies is 4.62, 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 Chubu Steel Plate Co For the Steel industry, the median Net-Net Working Capital is 4.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chubu Steel Plate Co's current Net-Net Working Capital is 円903.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chubu Steel Plate Co stock overvalued right now?
Chubu Steel Plate Co (NGO:5461) has a current Net-Net Working Capital of 円903.11. The stock's GF Value™ is 円1,791.62, compared to a current price of 円2,082.00 — trading 16.2% above its estimated fair value. The current Net-Net Working Capital is 円903.11. Chubu Steel Plate Co's overall GF Score™ is 72/100 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 Chubu Steel Plate Co (NGO:5461), the current Net-Net Working Capital is 円903.11 as of Mar. 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 Chubu Steel Plate Co (NGO:5461) Overvalued in 2026?
Based on GuruFocus' analysis, Chubu Steel Plate Co stock appears to be overvalued.
The current stock price of 円2,082.00 is trading 16.2% above its estimated GF Value™ of 円1,791.62.
Key valuation signals for NGO:5461:
Net-Net Working Capital: 円903.11
GF Value™: 円1,791.62 vs. price of 円2,082.00 (16.2% above fair value)
No single metric tells the full story. See the NGO:5461 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chubu Steel Plate Co Ltd engages in the manufacture and sale of thick steel sheets and pieces, and the cutting of steel plates in Japan. The company's segment includes Steel-related business, Rental Business, Logistics business, and Engineering Business. The company generates the majority of its revenue from Steel-related business, which manufactures and sells thick steel plate products using electric furnaces.
72GF Score
Get the complete analysis for NGO:5461
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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