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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.
HIM International Music's Net-Net Working Capital for the quarter that ended in Jun. 2026 was NT$11.80.
The industry rank for HIM International Music's Net-Net Working Capital or its related term are showing as below:
ROCO:8446's Price-to-Net-Net-Working-Capital is ranked worse than 62.47% of 389
companies
in the Media - Diversified industry
Industry Median: 4.4
vs ROCO:8446: 7.29
HIM International Music (ROCO:8446) 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.
HIM International Music Net-Net Working Capital Related Terms
HIM International Music Net-Net Working Capital Historical Data
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The historical data trend for HIM International Music'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.
HIM International Music Net-Net Working Capital Chart
ROCO:8446 vs NFLX, DIS, WBD: Net-Net Working Capital Comparison
For the Entertainment subindustry, HIM International Music'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.
HIM International Music Price-to-Net-Net-Working-Capital vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, HIM International Music's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where HIM International Music'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$11.80 mean?
HIM International Music (ROCO:8446) has a Net-Net Working Capital of NT$11.80 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 HIM International Music According to the industry distribution chart, HIM International Music ranks #243 out of 389 companies in the Media - Diversified industry, placing it in the top 62.5%.
Is HIM International Music's Net-Net Working Capital too high?
HIM International Music's current Net-Net Working Capital is NT$11.80. Based on the distribution chart, HIM International Music ranks #243 out of 389 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, HIM International Music has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does HIM International Music's Net-Net Working Capital compare to NFLX and DIS?
According to the Media - Diversified industry distribution chart, HIM International Music ranks #243 out of 389 companies for Net-Net Working Capital. This places HIM International Music in the lower half of its industry. The industry median Net-Net Working Capital is 4.40. 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 Media - Diversified company?
The median Net-Net Working Capital among Media - Diversified companies is 4.40, based on 389 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 HIM International Music For the Media - Diversified industry, the median Net-Net Working Capital is 4.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HIM International Music's current Net-Net Working Capital is NT$11.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HIM International Music stock overvalued right now?
Based on GuruFocus' analysis, HIM International Music (ROCO:8446) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$105.05, compared to a current price of NT$86.00 — trading 18.1% below its estimated fair value. The current Net-Net Working Capital is NT$11.80. HIM International Music's overall GF Score™ is 80/100 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 HIM International Music (ROCO:8446), the current Net-Net Working Capital is NT$11.80 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 HIM International Music (ROCO:8446) Overvalued in 2026?
Based on GuruFocus' analysis, HIM International Music stock appears to be undervalued.
The current stock price of NT$86.00 is trading 18.1% below its estimated GF Value™ of NT$105.05.
GuruFocus considers HIM International Music to be Modestly Undervalued.
Key valuation signals for ROCO:8446:
Net-Net Working Capital: NT$11.80
GF Value™: NT$105.05 vs. price of NT$86.00 (18.1% below fair value)
No single metric tells the full story. See the ROCO:8446 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
HIM International Music Inc is a Taiwan based media company. The company is engaged in production and distribution of pop music, copyright licensing, and artist management. The company also arrange concerts in Taiwan. Goegraphically, the company generates maximum revenue from Mainland China, followed by Taiwan, Singapore, USA, Hong Kong, and other regions.
80GF 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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