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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:3465's Price-to-Net-Net-Working-Capital is not ranked *
in the Hardware industry.
Industry Median: 9.025 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
New Advanced Electronics Technologies Co (ROCO:3465) 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.
New Advanced Electronics Technologies Co Net-Net Working Capital Related Terms
New Advanced Electronics Technologies 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.
New Advanced Electronics Technologies Co Net-Net Working Capital Chart
New Advanced Electronics Technologies Co Annual Data
ROCO:3465 vs AAPL: Net-Net Working Capital Comparison
For the Consumer Electronics subindustry, New Advanced Electronics Technologies 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.
New Advanced Electronics Technologies Co Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, New Advanced Electronics Technologies Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where New Advanced Electronics Technologies 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$-26.29 mean?
New Advanced Electronics Technologies Co (ROCO:3465) has a Net-Net Working Capital of NT$-26.29 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 New Advanced Electronics Technologies Co According to the industry distribution chart, New Advanced Electronics Technologies Co ranks #999999 out of 1148 companies in the Hardware industry.
Is New Advanced Electronics Technologies Co's Net-Net Working Capital too high?
New Advanced Electronics Technologies Co's current Net-Net Working Capital is NT$-26.29. Based on the distribution chart, New Advanced Electronics Technologies Co ranks #999999 out of 1148 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, New Advanced Electronics Technologies Co has a GF Score™ of 54/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does New Advanced Electronics Technologies Co's Net-Net Working Capital compare to AAPL?
According to the Hardware industry distribution chart, New Advanced Electronics Technologies Co ranks #999999 out of 1148 companies for Net-Net Working Capital. This places New Advanced Electronics Technologies Co in the lower half of its industry. The industry median Net-Net Working Capital is 9.03. 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 9.03, 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 New Advanced Electronics Technologies Co For the Hardware industry, the median Net-Net Working Capital is 9.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. New Advanced Electronics Technologies Co's current Net-Net Working Capital is NT$-26.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Advanced Electronics Technologies Co stock overvalued right now?
Based on GuruFocus' analysis, New Advanced Electronics Technologies Co (ROCO:3465) is currently considered Possible Value Trap. The stock's GF Value™ is NT$68.19, compared to a current price of NT$29.05 — trading 57.4% below its estimated fair value. The current Net-Net Working Capital is NT$-26.29. New Advanced Electronics Technologies Co's overall GF Score™ is 54/100 with 10 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 New Advanced Electronics Technologies Co (ROCO:3465), the current Net-Net Working Capital is NT$-26.29 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 New Advanced Electronics Technologies Co (ROCO:3465) Overvalued in 2026?
Based on GuruFocus' analysis, New Advanced Electronics Technologies Co stock appears to be undervalued.
The current stock price of NT$29.05 is trading 57.4% below its estimated GF Value™ of NT$68.19.
GuruFocus considers New Advanced Electronics Technologies Co to be Possible Value Trap.
Key valuation signals for ROCO:3465:
Net-Net Working Capital: NT$-26.29
GF Value™: NT$68.19 vs. price of NT$29.05 (57.4% below fair value)
No single metric tells the full story. See the ROCO:3465 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
New Advanced Electronics Technologies Co Ltd is mainly engaged in the research and development, manufacture and sale of speakers and related products. The Company is an international brand specializing in professional audio solutions, with expertise in acoustics, mechanics, electronics, woodworking and software, providing customers with product design, development and manufacturing solutions. Its product range includes home theatre systems, floorstanding speakers, bookshelf speakers, subwoofers, surround speakers and other related products. Its segments include Taiwan, which generates maximum revenue, China and Vietnam. The Company operates across America, Asia and Europe, with America generating maximum revenue.
54GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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