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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.
Kwong Fong Industries's Net-Net Working Capital for the quarter that ended in Jun. 2026 was NT$-4.64.
The industry rank for Kwong Fong Industries's Net-Net Working Capital or its related term are showing as below:
TPE:1416's Price-to-Net-Net-Working-Capital is not ranked *
in the Software industry.
Industry Median: 6.93 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Kwong Fong Industries (TPE:1416) 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.
Kwong Fong Industries Net-Net Working Capital Related Terms
Kwong Fong Industries Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Kwong Fong Industries'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.
Kwong Fong Industries Net-Net Working Capital Chart
TPE:1416 vs IBM, ACN, CTSH: Net-Net Working Capital Comparison
For the Information Technology Services subindustry, Kwong Fong Industries'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.
Kwong Fong Industries Price-to-Net-Net-Working-Capital vs Software Industry
For the Software industry and Technology sector, Kwong Fong Industries's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Kwong Fong Industries'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$-4.64 mean?
Kwong Fong Industries (TPE:1416) has a Net-Net Working Capital of NT$-4.64 as of Jun. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Kwong Fong Industries According to the industry distribution chart, Kwong Fong Industries ranks #999999 out of 1219 companies in the Software industry.
Is Kwong Fong Industries' Net-Net Working Capital too high?
Kwong Fong Industries' current Net-Net Working Capital is NT$-4.64. Based on the distribution chart, Kwong Fong Industries ranks #999999 out of 1219 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Kwong Fong Industries has a GF Score™ of 68/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Kwong Fong Industries' Net-Net Working Capital compare to IBM and ACN?
According to the Software industry distribution chart, Kwong Fong Industries ranks #999999 out of 1219 companies for Net-Net Working Capital. This places Kwong Fong Industries in the lower half of its industry. The industry median Net-Net Working Capital is 6.93. 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 Software company?
The median Net-Net Working Capital among Software companies is 6.93, based on 1,219 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 Kwong Fong Industries For the Software industry, the median Net-Net Working Capital is 6.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kwong Fong Industries's current Net-Net Working Capital is NT$-4.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kwong Fong Industries stock overvalued right now?
Based on GuruFocus' analysis, Kwong Fong Industries (TPE:1416) is currently considered Possible Value Trap. The stock's GF Value™ is NT$16.83, compared to a current price of NT$11.45 — trading 32% below its estimated fair value. The current Net-Net Working Capital is NT$-4.64. Kwong Fong Industries' overall GF Score™ is 68/100 with 6 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 Kwong Fong Industries (TPE:1416), the current Net-Net Working Capital is NT$-4.64 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 Kwong Fong Industries (TPE:1416) Overvalued in 2026?
Based on GuruFocus' analysis, Kwong Fong Industries stock appears to be undervalued.
The current stock price of NT$11.45 is trading 32% below its estimated GF Value™ of NT$16.83.
GuruFocus considers Kwong Fong Industries to be Possible Value Trap.
Key valuation signals for TPE:1416:
Net-Net Working Capital: NT$-4.64
GF Value™: NT$16.83 vs. price of NT$11.45 (32% below fair value)
No single metric tells the full story. See the TPE:1416 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kwong Fong Industries Corp main business items include housing and building development and rental, real estate business, mall management, information software services, and electronic information supply services. The company's segment includes the Kwong Fong Department, the Pao Fong Asset Management Department, the Kwong Fong Holdings Department, and the Digital Technology Department. The company generates the majority of its revenue from the Digital Technology Department, which is engaged in Information Software Services. The company generates all of its revenue from Taiwan. The company's revenue is derived from information services, software sales, and real estate sales.
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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