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Shoei CoSHOFF 97 Net-Net Working Capital is $2.01 as of Mar. 2026. GuruFocus rates SHOFF with a GF Score™ of 97/100 and a GF Value™ of $11.83 (Fairly Valued). The stock has 1 warning sign investors should review. Among 373 Manufacturing - Apparel & Accessories companies, Shoei Co ranks worse than 54.42% on this metric.
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.
Shoei Co's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $2.01.
The industry rank for Shoei Co's Net-Net Working Capital or its related term are showing as below:
SHOFF's Price-to-Net-Net-Working-Capital is ranked worse than 54.42% of 373
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 5.23
vs SHOFF: 5.89
Shoei Co (OTCPK:SHOFF) 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.
Shoei Co Net-Net Working Capital Related Terms
Shoei Co Net-Net Working Capital Historical Data
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The historical data trend for Shoei 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.
SHOFF vs NKE, DECK, ONON: Net-Net Working Capital Comparison
For the Footwear & Accessories subindustry, Shoei 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.
Shoei Co Price-to-Net-Net-Working-Capital vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Shoei Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Shoei 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 $2.01 mean?
Shoei Co (SHOFF) has a Net-Net Working Capital of $2.01 as of Mar. 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 Shoei Co According to the industry distribution chart, Shoei Co ranks #203 out of 373 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 54.4%.
Is Shoei Co's Net-Net Working Capital too high?
Shoei Co's current Net-Net Working Capital is $2.01. The Manufacturing - Apparel & Accessories industry median Net-Net Working Capital is 5.23. Shoei Co's value of $2.01 is 61.6% below this industry median. Based on the distribution chart, Shoei Co ranks #203 out of 373 companies in the Manufacturing - Apparel & Accessories industry, which is below the industry midpoint. Overall, Shoei Co has a GF Score™ of 97/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Shoei Co's Net-Net Working Capital compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Shoei Co ranks #203 out of 373 companies for Net-Net Working Capital. This places Shoei Co in the lower half of its industry. The industry median Net-Net Working Capital is 5.23. Shoei Co's value of $2.01 is 61.6% below this benchmark. 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 5.23, based on 373 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. Shoei Co's current Net-Net Working Capital of $2.01 is 61.6% below the industry median. 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 Shoei Co For the Manufacturing - Apparel & Accessories industry, the median Net-Net Working Capital is 5.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shoei Co's current Net-Net Working Capital is $2.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shoei Co stock overvalued right now?
Based on GuruFocus' analysis, Shoei Co (SHOFF) is currently considered Fairly Valued. The stock's GF Value™ is $11.83, compared to a current price of $11.43 — trading 3.4% below its estimated fair value. The current Net-Net Working Capital is $2.01 and 61.6% below the Manufacturing - Apparel & Accessories industry median of 5.23. Shoei Co's overall GF Score™ is 97/100 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 Shoei Co (SHOFF), the current Net-Net Working Capital is $2.01 as of Mar. 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 Shoei Co (SHOFF) Overvalued in 2026?
Based on GuruFocus' analysis, Shoei Co stock appears to be undervalued.
The current stock price of $11.43 is trading 3.4% below its estimated GF Value™ of $11.83.
GuruFocus considers Shoei Co to be Fairly Valued.
Key valuation signals for SHOFF:
Net-Net Working Capital: $2.01
GF Value™: $11.83 vs. price of $11.43 (3.4% below fair value)
Industry Position: 61.6% below the Manufacturing - Apparel & Accessories median (#203 of 373)
No single metric tells the full story. See the SHOFF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shoei Co Ltd main business is the manufacture and sale of helmets for passengers. The items handled are helmets and related products and are designed for riding on general motorcycles. Geographically the company derives the majority of its revenue from Japan. The company also generates revenue from France, Germany, the United States, china, and other countries.
97GF 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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