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.
Kikukawa Enterprise's Net-Net Working Capital for the quarter that ended in Mar. 2026 was 円6,326.99.
The industry rank for Kikukawa Enterprise's Net-Net Working Capital or its related term are showing as below:
NGO:6346's Price-to-Net-Net-Working-Capital is ranked better than 97.12% of 1320
companies
in the Industrial Products industry
Industry Median: 8.42
vs NGO:6346: 0.97
Kikukawa Enterprise (NGO:6346) 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.
Kikukawa Enterprise Net-Net Working Capital Related Terms
Kikukawa Enterprise Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Kikukawa Enterprise'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.
NGO:6346 vs GEV, ETN, PH: Net-Net Working Capital Comparison
For the Specialty Industrial Machinery subindustry, Kikukawa Enterprise'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.
Kikukawa Enterprise Price-to-Net-Net-Working-Capital vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Kikukawa Enterprise's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Kikukawa Enterprise'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6,326.99 mean?
Kikukawa Enterprise (NGO:6346) has a Net-Net Working Capital of 円6,326.99 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 Kikukawa Enterprise According to the industry distribution chart, Kikukawa Enterprise ranks #38 out of 1320 companies in the Industrial Products industry, placing it in the top 2.9%.
Is Kikukawa Enterprise's Net-Net Working Capital too high?
Kikukawa Enterprise's current Net-Net Working Capital is 円6,326.99. Based on the distribution chart, Kikukawa Enterprise ranks #38 out of 1320 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Kikukawa Enterprise has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does Kikukawa Enterprise's Net-Net Working Capital compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Kikukawa Enterprise ranks #38 out of 1320 companies for Net-Net Working Capital. This places Kikukawa Enterprise in the top 3% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 8.42. 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 8.42, based on 1,320 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 Kikukawa Enterprise For the Industrial Products industry, the median Net-Net Working Capital is 8.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kikukawa Enterprise's current Net-Net Working Capital is 円6,326.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kikukawa Enterprise stock overvalued right now?
Kikukawa Enterprise (NGO:6346) has a current Net-Net Working Capital of 円6,326.99. The stock's GF Value™ is 円4,036.19, compared to a current price of 円5,960.00 — trading 47.7% above its estimated fair value. The current Net-Net Working Capital is 円6,326.99. Kikukawa Enterprise's overall GF Score™ is 69/100 with 1 warning sign 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 Kikukawa Enterprise (NGO:6346), the current Net-Net Working Capital is 円6,326.99 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 Kikukawa Enterprise (NGO:6346) Overvalued in 2026?
Based on GuruFocus' analysis, Kikukawa Enterprise stock appears to be overvalued.
The current stock price of 円5,960.00 is trading 47.7% above its estimated GF Value™ of 円4,036.19.
Key valuation signals for NGO:6346:
Net-Net Working Capital: 円6,326.99
GF Value™: 円4,036.19 vs. price of 円5,960.00 (47.7% above fair value)
No single metric tells the full story. See the NGO:6346 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kikukawa Enterprise Inc is a Japan-based company engages in the manufacture and sale of woodworking equipment and machine tools. Its products include sawmilling machinery, machine tools for processing iron and non-ferrous metals, and machines for fabricating synthetic resin products.
69GF Score
Get the complete analysis for NGO:6346
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
NGO:6346 has been successfully added to your 
