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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.
Ho Tung Chemical's Net-Net Working Capital for the quarter that ended in Jun. 2026 was NT$0.93.
The industry rank for Ho Tung Chemical's Net-Net Working Capital or its related term are showing as below:
TPE:1714's Price-to-Net-Net-Working-Capital is ranked worse than 71.38% of 594
companies
in the Chemicals industry
Industry Median: 8.5
vs TPE:1714: 17.69
Ho Tung Chemical (TPE:1714) 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.
Ho Tung Chemical Net-Net Working Capital Related Terms
Ho Tung Chemical Net-Net Working Capital Historical Data
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The historical data trend for Ho Tung Chemical'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.
TPE:1714 vs DOW: Net-Net Working Capital Comparison
For the Chemicals subindustry, Ho Tung Chemical'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.
Ho Tung Chemical Price-to-Net-Net-Working-Capital vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Ho Tung Chemical's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Ho Tung Chemical'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$0.93 mean?
Ho Tung Chemical (TPE:1714) has a Net-Net Working Capital of NT$0.93 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 Ho Tung Chemical According to the industry distribution chart, Ho Tung Chemical ranks #424 out of 594 companies in the Chemicals industry, placing it in the top 71.4%.
Is Ho Tung Chemical's Net-Net Working Capital too high?
Ho Tung Chemical's current Net-Net Working Capital is NT$0.93. Based on the distribution chart, Ho Tung Chemical ranks #424 out of 594 companies in the Chemicals industry, which is below the industry midpoint. Overall, Ho Tung Chemical has a GF Score™ of 67/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ho Tung Chemical's Net-Net Working Capital compare to DOW?
According to the Chemicals industry distribution chart, Ho Tung Chemical ranks #424 out of 594 companies for Net-Net Working Capital. This places Ho Tung Chemical in the lower half of its industry. The industry median Net-Net Working Capital is 8.50. 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 Chemicals company?
The median Net-Net Working Capital among Chemicals companies is 8.50, based on 594 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 Ho Tung Chemical For the Chemicals industry, the median Net-Net Working Capital is 8.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ho Tung Chemical's current Net-Net Working Capital is NT$0.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ho Tung Chemical stock overvalued right now?
Based on GuruFocus' analysis, Ho Tung Chemical (TPE:1714) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$12.74, compared to a current price of NT$16.45 — trading 29.1% above its estimated fair value. The current Net-Net Working Capital is NT$0.93. Ho Tung Chemical's overall GF Score™ is 67/100 with 2 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 Ho Tung Chemical (TPE:1714), the current Net-Net Working Capital is NT$0.93 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 Ho Tung Chemical (TPE:1714) Overvalued in 2026?
Based on GuruFocus' analysis, Ho Tung Chemical stock appears to be overvalued.
The current stock price of NT$16.45 is trading 29.1% above its estimated GF Value™ of NT$12.74.
GuruFocus considers Ho Tung Chemical to be Modestly Overvalued.
Key valuation signals for TPE:1714:
Net-Net Working Capital: NT$0.93
GF Value™: NT$12.74 vs. price of NT$16.45 (29.1% above fair value)
No single metric tells the full story. See the TPE:1714 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ho Tung Chemical Corp is engaged in the manufacturing, processing, and sales of chemicals such as normal paraffin, alkenes, etc. The company's key products comprise Paraffin, Linear Alkylbenzene, Anionic Surfactants, Cationic Surfactants, Non-ionic Surfactants, Amphoteric Surfactants, Solvents, and others. It also focuses on other businesses like oil, investment, and cement. The company's reportable segments include Chemicals, which derives the majority of its revenue from Oil Products, Cement, and Investments. Geographically, the company generates a majority of its revenue from China and the rest from Taiwan, other parts of Southeast Asia, and other regions.
67GF 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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