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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.
TPE:1726's Price-to-Net-Net-Working-Capital is ranked better than 81.27% of 598
companies
in the Chemicals industry
Industry Median: 8.485
vs TPE:1726: 3.05
Yung Chi Paint & Varnish Mfg Co (TPE:1726) 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.
Yung Chi Paint & Varnish Mfg Co Net-Net Working Capital Related Terms
Yung Chi Paint & Varnish Mfg 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.
Yung Chi Paint & Varnish Mfg Co Net-Net Working Capital Chart
TPE:1726 vs LIN, SHW, ECL: Net-Net Working Capital Comparison
For the Specialty Chemicals subindustry, Yung Chi Paint & Varnish Mfg 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.
Yung Chi Paint & Varnish Mfg Co Price-to-Net-Net-Working-Capital vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Yung Chi Paint & Varnish Mfg Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Yung Chi Paint & Varnish Mfg 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$25.37 mean?
Yung Chi Paint & Varnish Mfg Co (TPE:1726) has a Net-Net Working Capital of NT$25.37 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 Yung Chi Paint & Varnish Mfg Co According to the industry distribution chart, Yung Chi Paint & Varnish Mfg Co ranks #112 out of 598 companies in the Chemicals industry, placing it in the top 18.7%.
Is Yung Chi Paint & Varnish Mfg Co's Net-Net Working Capital too high?
Yung Chi Paint & Varnish Mfg Co's current Net-Net Working Capital is NT$25.37. Based on the distribution chart, Yung Chi Paint & Varnish Mfg Co ranks #112 out of 598 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Yung Chi Paint & Varnish Mfg Co has a GF Score™ of 87/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Yung Chi Paint & Varnish Mfg Co's Net-Net Working Capital compare to LIN and SHW?
According to the Chemicals industry distribution chart, Yung Chi Paint & Varnish Mfg Co ranks #112 out of 598 companies for Net-Net Working Capital. This places Yung Chi Paint & Varnish Mfg Co in the top 19% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 8.49. 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 8.49, based on 598 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 Yung Chi Paint & Varnish Mfg Co For the Chemicals industry, the median Net-Net Working Capital is 8.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Yung Chi Paint & Varnish Mfg Co's current Net-Net Working Capital is NT$25.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Yung Chi Paint & Varnish Mfg Co stock overvalued right now?
Based on GuruFocus' analysis, Yung Chi Paint & Varnish Mfg Co (TPE:1726) is currently considered Fairly Valued. The stock's GF Value™ is NT$78.79, compared to a current price of NT$77.40 — trading 1.8% below its estimated fair value. The current Net-Net Working Capital is NT$25.37. Yung Chi Paint & Varnish Mfg Co's overall GF Score™ is 87/100 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 Yung Chi Paint & Varnish Mfg Co (TPE:1726), the current Net-Net Working Capital is NT$25.37 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 Yung Chi Paint & Varnish Mfg Co (TPE:1726) Overvalued in 2026?
Based on GuruFocus' analysis, Yung Chi Paint & Varnish Mfg Co stock appears to be undervalued.
The current stock price of NT$77.40 is trading 1.8% below its estimated GF Value™ of NT$78.79.
GuruFocus considers Yung Chi Paint & Varnish Mfg Co to be Fairly Valued.
Key valuation signals for TPE:1726:
Net-Net Working Capital: NT$25.37
GF Value™: NT$78.79 vs. price of NT$77.40 (1.8% below fair value)
No single metric tells the full story. See the TPE:1726 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Yung Chi Paint & Varnish Mfg Co Ltd is mainly engaged in the manufacture and sale of paints and coatings and the undertaking of painting projects. The company operates in two segments: the Paint Business Department, which is mainly engaged in the manufacture and sale of various paint products, and the Coating Engineering Department, engaged in the business of painting projects and structural coating or restoration. The company derives the majority of its revenue from the Paint business segment.
87GF Score
Get the complete analysis for TPE:1726
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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