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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.
Howteh Technology Co's Net-Net Working Capital for the quarter that ended in Jun. 2026 was NT$11.02.
The industry rank for Howteh Technology Co's Net-Net Working Capital or its related term are showing as below:
ROCO:3114's Price-to-Net-Net-Working-Capital is ranked better than 68.42% of 57
companies
in the Industrial Distribution industry
Industry Median: 7.05
vs ROCO:3114: 2.94
Howteh Technology Co (ROCO:3114) 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.
Howteh Technology Co Net-Net Working Capital Related Terms
Howteh Technology Co Net-Net Working Capital Historical Data
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The historical data trend for Howteh Technology 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.
Howteh Technology Co Net-Net Working Capital Chart
ROCO:3114 vs GWW, FAST, FERG: Net-Net Working Capital Comparison
For the Industrial Distribution subindustry, Howteh Technology 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.
Howteh Technology Co Price-to-Net-Net-Working-Capital vs Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, Howteh Technology Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Howteh Technology 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 NT$11.02 mean?
Howteh Technology Co (ROCO:3114) has a Net-Net Working Capital of NT$11.02 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 Howteh Technology Co According to the industry distribution chart, Howteh Technology Co ranks #18 out of 57 companies in the Industrial Distribution industry, placing it in the top 31.6%.
Is Howteh Technology Co's Net-Net Working Capital too high?
Howteh Technology Co's current Net-Net Working Capital is NT$11.02. Based on the distribution chart, Howteh Technology Co ranks #18 out of 57 companies in the Industrial Distribution industry, which is above the industry midpoint. Overall, Howteh Technology Co has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Howteh Technology Co's Net-Net Working Capital compare to GWW and FAST?
According to the Industrial Distribution industry distribution chart, Howteh Technology Co ranks #18 out of 57 companies for Net-Net Working Capital. This puts Howteh Technology Co in the upper half of its industry. The industry median Net-Net Working Capital is 7.05. 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 Distribution company?
The median Net-Net Working Capital among Industrial Distribution companies is 7.05, based on 57 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 Howteh Technology Co For the Industrial Distribution industry, the median Net-Net Working Capital is 7.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Howteh Technology Co's current Net-Net Working Capital is NT$11.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Howteh Technology Co stock overvalued right now?
Based on GuruFocus' analysis, Howteh Technology Co (ROCO:3114) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$27.24, compared to a current price of NT$31.15 — trading 14.4% above its estimated fair value. The current Net-Net Working Capital is NT$11.02. Howteh Technology Co's overall GF Score™ is 73/100 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 Howteh Technology Co (ROCO:3114), the current Net-Net Working Capital is NT$11.02 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 Howteh Technology Co (ROCO:3114) Overvalued in 2026?
Based on GuruFocus' analysis, Howteh Technology Co stock appears to be overvalued.
The current stock price of NT$31.15 is trading 14.4% above its estimated GF Value™ of NT$27.24.
GuruFocus considers Howteh Technology Co to be Modestly Overvalued.
Key valuation signals for ROCO:3114:
Net-Net Working Capital: NT$11.02
GF Value™: NT$27.24 vs. price of NT$31.15 (14.4% above fair value)
No single metric tells the full story. See the ROCO:3114 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Howteh Technology Co Ltd is engaged mainly in trading and agency business in passive electronic components, active electronic components, integrated circuit carrier board equipment, chemicals and raw materials, semiconductors and optical equipment. Its operating segment includes Taiwan Segment responsible for the agency sales of electronic components and process equipment in Taiwan; and China and South East Asia segment responsible for the distribution of electronic components in Eastern and Southern China (including Hongkong) and Vietnam. The majority of the revenue is derived from the Taiwan segment.
73GF Score
Get the complete analysis for ROCO:3114
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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