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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.
SHSE:600650's Price-to-Net-Net-Working-Capital is ranked better than 50.66% of 227
companies
in the Transportation industry
Industry Median: 6.55
vs SHSE:600650: 6.41
Shanghai Jin Jiang Online Network Service Co (SHSE:600650) 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.
Shanghai Jin Jiang Online Network Service Co Net-Net Working Capital Related Terms
Shanghai Jin Jiang Online Network Service 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.
Shanghai Jin Jiang Online Network Service Co Net-Net Working Capital Chart
Shanghai Jin Jiang Online Network Service Co Annual Data
SHSE:600650 vs ODFL, XPO, KNX: Net-Net Working Capital Comparison
For the Trucking subindustry, Shanghai Jin Jiang Online Network Service 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.
Shanghai Jin Jiang Online Network Service Co Price-to-Net-Net-Working-Capital vs Transportation Industry
* 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 ¥1.67 mean?
Shanghai Jin Jiang Online Network Service Co (SHSE:600650) has a Net-Net Working Capital of ¥1.67 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 Shanghai Jin Jiang Online Network Service Co According to the industry distribution chart, Shanghai Jin Jiang Online Network Service Co ranks #112 out of 227 companies in the Transportation industry, placing it in the top 49.3%.
Is Shanghai Jin Jiang Online Network Service Co's Net-Net Working Capital too high?
Shanghai Jin Jiang Online Network Service Co's current Net-Net Working Capital is ¥1.67. Based on the distribution chart, Shanghai Jin Jiang Online Network Service Co ranks #112 out of 227 companies in the Transportation industry, which is above the industry midpoint. Overall, Shanghai Jin Jiang Online Network Service Co has a GF Score™ of 50/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Shanghai Jin Jiang Online Network Service Co's Net-Net Working Capital compare to ODFL and XPO?
According to the Transportation industry distribution chart, Shanghai Jin Jiang Online Network Service Co ranks #112 out of 227 companies for Net-Net Working Capital. This puts Shanghai Jin Jiang Online Network Service Co in the upper half of its industry. The industry median Net-Net Working Capital is 6.55. 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 Transportation company?
The median Net-Net Working Capital among Transportation companies is 6.55, based on 227 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 Shanghai Jin Jiang Online Network Service Co For the Transportation industry, the median Net-Net Working Capital is 6.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shanghai Jin Jiang Online Network Service Co's current Net-Net Working Capital is ¥1.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shanghai Jin Jiang Online Network Service Co stock overvalued right now?
Based on GuruFocus' analysis, Shanghai Jin Jiang Online Network Service Co (SHSE:600650) is currently considered Fairly Valued. The stock's GF Value™ is ¥10.08, compared to a current price of ¥10.70 — trading 6.2% above its estimated fair value. The current Net-Net Working Capital is ¥1.67. Shanghai Jin Jiang Online Network Service Co's overall GF Score™ is 50/100 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 Shanghai Jin Jiang Online Network Service Co (SHSE:600650), the current Net-Net Working Capital is ¥1.67 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 Shanghai Jin Jiang Online Network Service Co (SHSE:600650) Overvalued in 2026?
Based on GuruFocus' analysis, Shanghai Jin Jiang Online Network Service Co stock appears to be overvalued.
The current stock price of ¥10.70 is trading 6.2% above its estimated GF Value™ of ¥10.08.
GuruFocus considers Shanghai Jin Jiang Online Network Service Co to be Fairly Valued.
Key valuation signals for SHSE:600650:
Net-Net Working Capital: ¥1.67
GF Value™: ¥10.08 vs. price of ¥10.70 (6.2% above fair value)
No single metric tells the full story. See the SHSE:600650 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shanghai Jin Jiang Online Network Service Co Ltd is principally engaged in passenger transportation services, automobile sales, and low-temperature logistics services.
50GF 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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