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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.
JD Development Co's Net-Net Working Capital for the quarter that ended in Jun. 2026 was NT$1.99.
The industry rank for JD Development Co's Net-Net Working Capital or its related term are showing as below:
ROCO:4402's Price-to-Net-Net-Working-Capital is ranked worse than 57.45% of 376
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 5.77
vs ROCO:4402: 7.46
JD Development Co (ROCO:4402) 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.
JD Development Co Net-Net Working Capital Related Terms
JD Development Co Net-Net Working Capital Historical Data
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The historical data trend for JD Development 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.
JD Development Co Net-Net Working Capital Competitor Comparison
For the Textile Manufacturing subindustry, JD Development 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.
JD Development Co Price-to-Net-Net-Working-Capital vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, JD Development Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where JD Development 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$1.99 mean?
JD Development Co (ROCO:4402) has a Net-Net Working Capital of NT$1.99 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 JD Development Co According to the industry distribution chart, JD Development Co ranks #216 out of 376 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 57.4%.
Is JD Development Co's Net-Net Working Capital too high?
JD Development Co's current Net-Net Working Capital is NT$1.99. Based on the distribution chart, JD Development Co ranks #216 out of 376 companies in the Manufacturing - Apparel & Accessories industry, which is below the industry midpoint. Overall, JD Development Co has a GF Score™ of 60/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does JD Development Co's Net-Net Working Capital compare to competitors?
According to the Manufacturing - Apparel & Accessories industry distribution chart, JD Development Co ranks #216 out of 376 companies for Net-Net Working Capital. This places JD Development Co in the lower half of its industry. The industry median Net-Net Working Capital is 5.77. 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 Manufacturing - Apparel & Accessories company?
The median Net-Net Working Capital among Manufacturing - Apparel & Accessories companies is 5.77, based on 376 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 JD Development Co For the Manufacturing - Apparel & Accessories industry, the median Net-Net Working Capital is 5.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. JD Development Co's current Net-Net Working Capital is NT$1.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JD Development Co stock overvalued right now?
Based on GuruFocus' analysis, JD Development Co (ROCO:4402) is currently considered Fairly Valued. The stock's GF Value™ is NT$13.68, compared to a current price of NT$14.85 — trading 8.6% above its estimated fair value. The current Net-Net Working Capital is NT$1.99. JD Development Co's overall GF Score™ is 60/100 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 JD Development Co (ROCO:4402), the current Net-Net Working Capital is NT$1.99 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 JD Development Co (ROCO:4402) Overvalued in 2026?
Based on GuruFocus' analysis, JD Development Co stock appears to be overvalued.
The current stock price of NT$14.85 is trading 8.6% above its estimated GF Value™ of NT$13.68.
GuruFocus considers JD Development Co to be Fairly Valued.
Key valuation signals for ROCO:4402:
Net-Net Working Capital: NT$1.99
GF Value™: NT$13.68 vs. price of NT$14.85 (8.6% above fair value)
No single metric tells the full story. See the ROCO:4402 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
JD Development Co Ltd business activities are cotton woven fabric manufacturing, silk weaving, linen weaving, cotton weaving, woolen fabric wholesale and renewable energy power generation. The company has two segments Textile Department: mainly engaged in the manufacturing, trading, and processing of textile products; and Electricity Sales Department: mainly engaged in electricity generation from solar power equipment. The company generates majority of revenue from textile department segment. Its products are Textile, Green Energy, and Medical Materials. The company has presence in Taiwan and Asia. The company generates majority of revenue from Taiwan.
60GF 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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