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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:6510's Price-to-Net-Net-Working-Capital is ranked worse than 72.06% of 544
companies
in the Semiconductors industry
Industry Median: 11.09
vs ROCO:6510: 23.29
Chunghwa Precision Test Tech Co (ROCO:6510) 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.
Chunghwa Precision Test Tech Co Net-Net Working Capital Related Terms
Chunghwa Precision Test Tech 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.
Chunghwa Precision Test Tech Co Net-Net Working Capital Chart
ROCO:6510 vs LRCX, AMAT, KLAC: Net-Net Working Capital Comparison
For the Semiconductor Equipment & Materials subindustry, Chunghwa Precision Test Tech 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.
Chunghwa Precision Test Tech Co Price-to-Net-Net-Working-Capital vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Chunghwa Precision Test Tech Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Chunghwa Precision Test Tech 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$149.43 mean?
Chunghwa Precision Test Tech Co (ROCO:6510) has a Net-Net Working Capital of NT$149.43 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 Chunghwa Precision Test Tech Co According to the industry distribution chart, Chunghwa Precision Test Tech Co ranks #392 out of 544 companies in the Semiconductors industry, placing it in the top 72.1%.
Is Chunghwa Precision Test Tech Co's Net-Net Working Capital too high?
Chunghwa Precision Test Tech Co's current Net-Net Working Capital is NT$149.43. Based on the distribution chart, Chunghwa Precision Test Tech Co ranks #392 out of 544 companies in the Semiconductors industry, which is below the industry midpoint. Overall, Chunghwa Precision Test Tech Co has a GF Score™ of 83/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Chunghwa Precision Test Tech Co's Net-Net Working Capital compare to LRCX and AMAT?
According to the Semiconductors industry distribution chart, Chunghwa Precision Test Tech Co ranks #392 out of 544 companies for Net-Net Working Capital. This places Chunghwa Precision Test Tech Co in the lower half of its industry. The industry median Net-Net Working Capital is 11.09. 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 Semiconductors company?
The median Net-Net Working Capital among Semiconductors companies is 11.09, based on 544 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 Chunghwa Precision Test Tech Co For the Semiconductors industry, the median Net-Net Working Capital is 11.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chunghwa Precision Test Tech Co's current Net-Net Working Capital is NT$149.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chunghwa Precision Test Tech Co stock overvalued right now?
Based on GuruFocus' analysis, Chunghwa Precision Test Tech Co (ROCO:6510) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$1,254.98, compared to a current price of NT$3,480.00 — trading 177.3% above its estimated fair value. The current Net-Net Working Capital is NT$149.43. Chunghwa Precision Test Tech Co's overall GF Score™ is 83/100 with 1 warning sign 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 Chunghwa Precision Test Tech Co (ROCO:6510), the current Net-Net Working Capital is NT$149.43 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 Chunghwa Precision Test Tech Co (ROCO:6510) Overvalued in 2026?
Based on GuruFocus' analysis, Chunghwa Precision Test Tech Co stock appears to be overvalued.
The current stock price of NT$3,480.00 is trading 177.3% above its estimated GF Value™ of NT$1,254.98.
GuruFocus considers Chunghwa Precision Test Tech Co to be Significantly Overvalued.
Key valuation signals for ROCO:6510:
Net-Net Working Capital: NT$149.43
GF Value™: NT$1,254.98 vs. price of NT$3,480.00 (177.3% above fair value)
No single metric tells the full story. See the ROCO:6510 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chunghwa Precision Test Tech Co Ltd is engaged mainly in the testing of semiconductor components, the production of printed circuit boards, and the marketing of electronic products. The company earns operating revenue from the production and sales of semiconductor testing components and printed circuit boards, as well as other electronic products. It also earns revenue from the rendering of services such as designing and maintaining semiconductor components, printed circuit boards, and providing after-sales services. It generates maximum revenue from the sale of wafer test boards. Geographically, the company generates maximum revenue from Taiwan, followed by the United States, China, and Other regions.
83GF 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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