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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.
Ledlink Optics's Net-Net Working Capital for the quarter that ended in Jun. 2026 was NT$-3.73.
The industry rank for Ledlink Optics's Net-Net Working Capital or its related term are showing as below:
ROCO:5230's Price-to-Net-Net-Working-Capital is not ranked *
in the Hardware industry.
Industry Median: 8.95 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Ledlink Optics (ROCO:5230) 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.
Ledlink Optics Net-Net Working Capital Related Terms
Ledlink Optics Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Ledlink Optics'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:5230 vs APH, GLW, TEL: Net-Net Working Capital Comparison
For the Electronic Components subindustry, Ledlink Optics'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.
Ledlink Optics Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, Ledlink Optics's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Ledlink Optics'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$-3.73 mean?
Ledlink Optics (ROCO:5230) has a Net-Net Working Capital of NT$-3.73 as of Jun. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Ledlink Optics According to the industry distribution chart, Ledlink Optics ranks #999999 out of 1159 companies in the Hardware industry.
Is Ledlink Optics' Net-Net Working Capital too high?
Ledlink Optics' current Net-Net Working Capital is NT$-3.73. Based on the distribution chart, Ledlink Optics ranks #999999 out of 1159 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Ledlink Optics has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ledlink Optics' Net-Net Working Capital compare to APH and GLW?
According to the Hardware industry distribution chart, Ledlink Optics ranks #999999 out of 1159 companies for Net-Net Working Capital. This places Ledlink Optics in the lower half of its industry. The industry median Net-Net Working Capital is 8.95. 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 8.95, based on 1,159 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 Ledlink Optics For the Hardware industry, the median Net-Net Working Capital is 8.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ledlink Optics's current Net-Net Working Capital is NT$-3.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ledlink Optics stock overvalued right now?
Based on GuruFocus' analysis, Ledlink Optics (ROCO:5230) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$20.46, compared to a current price of NT$18.50 — trading 9.6% below its estimated fair value. The current Net-Net Working Capital is NT$-3.73. Ledlink Optics' overall GF Score™ is 70/100 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 Ledlink Optics (ROCO:5230), the current Net-Net Working Capital is NT$-3.73 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 Ledlink Optics (ROCO:5230) Overvalued in 2026?
Based on GuruFocus' analysis, Ledlink Optics stock appears to be undervalued.
The current stock price of NT$18.50 is trading 9.6% below its estimated GF Value™ of NT$20.46.
GuruFocus considers Ledlink Optics to be Modestly Undervalued.
Key valuation signals for ROCO:5230:
Net-Net Working Capital: NT$-3.73
GF Value™: NT$20.46 vs. price of NT$18.50 (9.6% below fair value)
No single metric tells the full story. See the ROCO:5230 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ledlink Optics Inc is engaged in designing and manufacturing optics for emerging solid-state lighting companies such as Cree, Edison, Nichia, Osram, Lumileds, Samsung, Seoul, and other LED manufacturers. It offers lenses in a variety of packages with numerous beam pattern options and sizes, such as residential lighting, commercial lighting, street lighting, and architectural lighting.
70GF Score
Get the complete analysis for ROCO:5230
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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