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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.
ROCO:3322's Price-to-Net-Net-Working-Capital is not ranked *
in the Hardware industry.
Industry Median: 9.035 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Joinsoon Electronics Manufacturing Co (ROCO:3322) 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.
Joinsoon Electronics Manufacturing Co Net-Net Working Capital Related Terms
Joinsoon Electronics Manufacturing Co Net-Net Working Capital Historical Data
* 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.
Joinsoon Electronics Manufacturing Co Net-Net Working Capital Chart
ROCO:3322 vs APH, GLW, TEL: Net-Net Working Capital Comparison
For the Electronic Components subindustry, Joinsoon Electronics 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.
Joinsoon Electronics Manufacturing Co Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, Joinsoon Electronics Manufacturing Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Joinsoon Electronics 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 NT$-5.90 mean?
Joinsoon Electronics Manufacturing Co (ROCO:3322) has a Net-Net Working Capital of NT$-5.90 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 Joinsoon Electronics Manufacturing Co According to the industry distribution chart, Joinsoon Electronics Manufacturing Co ranks #999999 out of 1148 companies in the Hardware industry.
Is Joinsoon Electronics Manufacturing Co's Net-Net Working Capital too high?
Joinsoon Electronics Manufacturing Co's current Net-Net Working Capital is NT$-5.90. Based on the distribution chart, Joinsoon Electronics Manufacturing Co ranks #999999 out of 1148 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Joinsoon Electronics Manufacturing Co has a GF Score™ of 58/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Joinsoon Electronics Manufacturing Co's Net-Net Working Capital compare to APH and GLW?
According to the Hardware industry distribution chart, Joinsoon Electronics Manufacturing Co ranks #999999 out of 1148 companies for Net-Net Working Capital. This places Joinsoon Electronics Manufacturing Co in the lower half of its industry. The industry median Net-Net Working Capital is 9.04. 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 Hardware company?
The median Net-Net Working Capital among Hardware companies is 9.04, based on 1,148 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 Joinsoon Electronics Manufacturing Co For the Hardware industry, the median Net-Net Working Capital is 9.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Joinsoon Electronics Manufacturing Co's current Net-Net Working Capital is NT$-5.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Joinsoon Electronics Manufacturing Co stock overvalued right now?
Based on GuruFocus' analysis, Joinsoon Electronics Manufacturing Co (ROCO:3322) is currently considered Possible Value Trap. The stock's GF Value™ is NT$18.38, compared to a current price of NT$11.05 — trading 39.9% below its estimated fair value. The current Net-Net Working Capital is NT$-5.90. Joinsoon Electronics Manufacturing Co's overall GF Score™ is 58/100 with 7 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 Joinsoon Electronics Manufacturing Co (ROCO:3322), the current Net-Net Working Capital is NT$-5.90 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 Joinsoon Electronics Manufacturing Co (ROCO:3322) Overvalued in 2026?
Based on GuruFocus' analysis, Joinsoon Electronics Manufacturing Co stock appears to be undervalued.
The current stock price of NT$11.05 is trading 39.9% below its estimated GF Value™ of NT$18.38.
GuruFocus considers Joinsoon Electronics Manufacturing Co to be Possible Value Trap.
Key valuation signals for ROCO:3322:
Net-Net Working Capital: NT$-5.90
GF Value™: NT$18.38 vs. price of NT$11.05 (39.9% below fair value)
No single metric tells the full story. See the ROCO:3322 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Joinsoon Electronics Manufacturing Co Ltd manufactures and sells computer peripheral equipment and electronic components, The Company has three reporting departments: the connecting components segment, the electronics segment, and the high-speed internet segment. The company generates the majority of its revenue from the connecting components segment. It designs and manufactures signal cables, medical wires, connectors, computer peripheral antennas, and data storage devices.
58GF Score
Get the complete analysis for ROCO:3322
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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