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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.
China Wire & Cable Co's Net-Net Working Capital for the quarter that ended in Jun. 2026 was NT$10.25.
The industry rank for China Wire & Cable Co's Net-Net Working Capital or its related term are showing as below:
TPE:1603's Price-to-Net-Net-Working-Capital is ranked better than 80.75% of 1122
companies
in the Hardware industry
Industry Median: 9.165
vs TPE:1603: 3.03
China Wire & Cable Co (TPE:1603) 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.
China Wire & Cable Co Net-Net Working Capital Related Terms
China Wire & Cable Co Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for China Wire & Cable 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.
China Wire & Cable Co Net-Net Working Capital Chart
TPE:1603 vs SNX, ARW, AVT: Net-Net Working Capital Comparison
For the Electronics & Computer Distribution subindustry, China Wire & Cable 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.
China Wire & Cable Co Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, China Wire & Cable Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where China Wire & Cable 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 NT$10.25 mean?
China Wire & Cable Co (TPE:1603) has a Net-Net Working Capital of NT$10.25 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 China Wire & Cable Co According to the industry distribution chart, China Wire & Cable Co ranks #216 out of 1122 companies in the Hardware industry, placing it in the top 19.3%.
Is China Wire & Cable Co's Net-Net Working Capital too high?
China Wire & Cable Co's current Net-Net Working Capital is NT$10.25. Based on the distribution chart, China Wire & Cable Co ranks #216 out of 1122 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, China Wire & Cable Co has a GF Score™ of 85/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Wire & Cable Co's Net-Net Working Capital compare to SNX and ARW?
According to the Hardware industry distribution chart, China Wire & Cable Co ranks #216 out of 1122 companies for Net-Net Working Capital. This places China Wire & Cable Co in the top 19% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 9.17. 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 Hardware company?
The median Net-Net Working Capital among Hardware companies is 9.17, based on 1,122 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 China Wire & Cable Co For the Hardware industry, the median Net-Net Working Capital is 9.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Wire & Cable Co's current Net-Net Working Capital is NT$10.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Wire & Cable Co stock overvalued right now?
Based on GuruFocus' analysis, China Wire & Cable Co (TPE:1603) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$45.65, compared to a current price of NT$31.05 — trading 32% below its estimated fair value. The current Net-Net Working Capital is NT$10.25. China Wire & Cable Co's overall GF Score™ is 85/100 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 China Wire & Cable Co (TPE:1603), the current Net-Net Working Capital is NT$10.25 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 China Wire & Cable Co (TPE:1603) Overvalued in 2026?
Based on GuruFocus' analysis, China Wire & Cable Co stock appears to be undervalued.
The current stock price of NT$31.05 is trading 32% below its estimated GF Value™ of NT$45.65.
GuruFocus considers China Wire & Cable Co to be Significantly Undervalued.
Key valuation signals for TPE:1603:
Net-Net Working Capital: NT$10.25
GF Value™: NT$45.65 vs. price of NT$31.05 (32% below fair value)
No single metric tells the full story. See the TPE:1603 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Wire & Cable Co Ltd manufactures and distributes wires and cables. The company is engaged in the production, sales, processing, and installation services of electric wires and cables, aluminum doors, windows, and various aluminum products, and the import and export of various products, and the construction, rental, and sale of buildings. The company has two reporting segments the Cable Division, the Door and Window Division, and Other operating segments. The company derives its maximum revenue from Cable Division segment.
85GF 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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