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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.
CETC Chips Technology's Net-Net Working Capital for the quarter that ended in Jun. 2026 was ¥1.15.
The industry rank for CETC Chips Technology's Net-Net Working Capital or its related term are showing as below:
SHSE:600877's Price-to-Net-Net-Working-Capital is ranked better than 52.58% of 542
companies
in the Semiconductors industry
Industry Median: 11.28
vs SHSE:600877: 10.35
CETC Chips Technology (SHSE:600877) 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.
CETC Chips Technology Net-Net Working Capital Related Terms
CETC Chips Technology Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for CETC Chips Technology'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.
CETC Chips Technology Net-Net Working Capital Chart
SHSE:600877 vs NVDA, AVGO, MU: Net-Net Working Capital Comparison
For the Semiconductors subindustry, CETC Chips Technology'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.
CETC Chips Technology Price-to-Net-Net-Working-Capital vs Semiconductors Industry
For the Semiconductors industry and Technology sector, CETC Chips Technology's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where CETC Chips Technology'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 ¥1.15 mean?
CETC Chips Technology (SHSE:600877) has a Net-Net Working Capital of ¥1.15 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 CETC Chips Technology According to the industry distribution chart, CETC Chips Technology ranks #257 out of 542 companies in the Semiconductors industry, placing it in the top 47.4%.
Is CETC Chips Technology's Net-Net Working Capital too high?
CETC Chips Technology's current Net-Net Working Capital is ¥1.15. Based on the distribution chart, CETC Chips Technology ranks #257 out of 542 companies in the Semiconductors industry, which is above the industry midpoint. Overall, CETC Chips Technology has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CETC Chips Technology's Net-Net Working Capital compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, CETC Chips Technology ranks #257 out of 542 companies for Net-Net Working Capital. This puts CETC Chips Technology in the upper half of its industry. The industry median Net-Net Working Capital is 11.28. 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 11.28, based on 542 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 CETC Chips Technology For the Semiconductors industry, the median Net-Net Working Capital is 11.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CETC Chips Technology's current Net-Net Working Capital is ¥1.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CETC Chips Technology stock overvalued right now?
Based on GuruFocus' analysis, CETC Chips Technology (SHSE:600877) is currently considered Modestly Overvalued. The stock's GF Value™ is ¥10.30, compared to a current price of ¥11.90 — trading 15.5% above its estimated fair value. The current Net-Net Working Capital is ¥1.15. CETC Chips Technology's overall GF Score™ is 68/100 with 3 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 CETC Chips Technology (SHSE:600877), the current Net-Net Working Capital is ¥1.15 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 CETC Chips Technology (SHSE:600877) Overvalued in 2026?
Based on GuruFocus' analysis, CETC Chips Technology stock appears to be overvalued.
The current stock price of ¥11.90 is trading 15.5% above its estimated GF Value™ of ¥10.30.
GuruFocus considers CETC Chips Technology to be Modestly Overvalued.
Key valuation signals for SHSE:600877:
Net-Net Working Capital: ¥1.15
GF Value™: ¥10.30 vs. price of ¥11.90 (15.5% above fair value)
No single metric tells the full story. See the SHSE:600877 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CETC Chips Technology Inc is engaged in the design, research and development, manufacture, testing and sales of silicon-based analog semiconductor chips and their application products.
68GF 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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