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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.
Winson Machinery Co's Net-Net Working Capital for the quarter that ended in Jun. 2026 was NT$4.54.
The industry rank for Winson Machinery Co's Net-Net Working Capital or its related term are showing as below:
ROCO:4538's Price-to-Net-Net-Working-Capital is ranked better than 74.62% of 1304
companies
in the Industrial Products industry
Industry Median: 7.98
vs ROCO:4538: 3.82
Winson Machinery Co (ROCO:4538) 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.
Winson Machinery Co Net-Net Working Capital Related Terms
Winson Machinery Co Net-Net Working Capital Historical Data
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The historical data trend for Winson Machinery 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.
ROCO:4538 vs ATI, CRS, MLI: Net-Net Working Capital Comparison
For the Metal Fabrication subindustry, Winson Machinery 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.
Winson Machinery Co Price-to-Net-Net-Working-Capital vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Winson Machinery Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Winson Machinery 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$4.54 mean?
Winson Machinery Co (ROCO:4538) has a Net-Net Working Capital of NT$4.54 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 Winson Machinery Co According to the industry distribution chart, Winson Machinery Co ranks #331 out of 1304 companies in the Industrial Products industry, placing it in the top 25.4%.
Is Winson Machinery Co's Net-Net Working Capital too high?
Winson Machinery Co's current Net-Net Working Capital is NT$4.54. Based on the distribution chart, Winson Machinery Co ranks #331 out of 1304 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Winson Machinery Co has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Winson Machinery Co's Net-Net Working Capital compare to ATI and CRS?
According to the Industrial Products industry distribution chart, Winson Machinery Co ranks #331 out of 1304 companies for Net-Net Working Capital. This puts Winson Machinery Co in the upper half of its industry. The industry median Net-Net Working Capital is 7.98. 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 7.98, based on 1,304 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 Winson Machinery Co For the Industrial Products industry, the median Net-Net Working Capital is 7.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Winson Machinery Co's current Net-Net Working Capital is NT$4.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Winson Machinery Co stock overvalued right now?
Based on GuruFocus' analysis, Winson Machinery Co (ROCO:4538) is currently considered Fairly Valued. The stock's GF Value™ is NT$18.66, compared to a current price of NT$17.35 — trading 7% below its estimated fair value. The current Net-Net Working Capital is NT$4.54. Winson Machinery Co's overall GF Score™ is 74/100 with 5 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 Winson Machinery Co (ROCO:4538), the current Net-Net Working Capital is NT$4.54 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 Winson Machinery Co (ROCO:4538) Overvalued in 2026?
Based on GuruFocus' analysis, Winson Machinery Co stock appears to be undervalued.
The current stock price of NT$17.35 is trading 7% below its estimated GF Value™ of NT$18.66.
GuruFocus considers Winson Machinery Co to be Fairly Valued.
Key valuation signals for ROCO:4538:
Net-Net Working Capital: NT$4.54
GF Value™: NT$18.66 vs. price of NT$17.35 (7% below fair value)
No single metric tells the full story. See the ROCO:4538 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Winson Machinery Co Ltd is a Taiwan-based company specialized in large machine tool castings, ductile iron, and grey iron castings. It offers products such as beds for grinding M/C, heads for vertical milling M/C, beds for slant lathe, bed for lathe M/C, beams, tables, beds for CNC lathes, and others. The company also offers production equipment such as module furan sand mixer, induction furnace, casting ladle, 6-ton induction furnace, vertical sand blasting machine, and annealing furnace.
74GF Score
Get the complete analysis for ROCO:4538
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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