Fortune Oriental Co (TPE:2491) Net-Net Working Capital : NT$3.14 (As of Mar. 2025)

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What is Fortune Oriental Co Net-Net Working Capital?

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.

Fortune Oriental Co's Net-Net Working Capital for the quarter that ended in Mar. 2025 was NT$3.14.

The industry rank for Fortune Oriental Co's Net-Net Working Capital or its related term are showing as below:

TPE:2491's Price-to-Net-Net-Working-Capital is ranked better than
71.93% of 171 companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 5.87 vs TPE:2491: 3.18

Fortune Oriental Co Net-Net Working Capital Historical Data

The historical data trend for Fortune Oriental 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.

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Fortune Oriental Co Net-Net Working Capital Chart

Fortune Oriental Co Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Net-Net Working Capital

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10.70

8.98

5.59

4.69

4.15

Fortune Oriental Co Quarterly Data
	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25
Net-Net Working Capital	Get a 7-Day Free Trial															5.28	5.00	3.85	4.15	3.14

Competitive Comparison of Fortune Oriental Co's Net-Net Working Capital

For the Furnishings, Fixtures & Appliances subindustry, Fortune Oriental 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.

Fortune Oriental Co's Price-to-Net-Net-Working-Capital Distribution in the Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Fortune Oriental Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Fortune Oriental Co's Price-to-Net-Net-Working-Capital falls into.

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Fortune Oriental Co Net-Net Working Capital Calculation

Fortune Oriental Co's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2024 is calculated as

	Net-Net Working Capital		(A: Dec. 2024 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(743.997	+	0.75 * 30.086	+	0.5 * 390.155	-	205.232
-	0	-	415.683)	/	82.008
=	4.15

Fortune Oriental Co's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2025 is calculated as

	Net-Net Working Capital		(Q: Mar. 2025 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(585.714	+	0.75 * 27.166	+	0.5 * 380.151	-	178.495
-	0	-	359.887)	/	82.008
=	3.14

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.

Fortune Oriental Co (TPE:2491) 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.

Fortune Oriental Co Net-Net Working Capital Related Terms

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Fortune Oriental Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » Fortune Oriental Co Ltd (TPE:2491) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

N/A

Address

Zhongzheng Road, No. 6, Lane 54, Xindian District, New Taipei City, TWN, 231041

Website

https://www.focl.com.tw

Fortune Oriental Co Ltd is principally engaged in Research and Development, design, manufacture, and sales of electric vehicle power systems. Its segments include the Electronics multimedia segment, the Electric Vehicle Department segment, the Optoelectronics segment, and Other segments. It generates the majority of its revenue from the Optoelectronics segment.

Fortune Oriental Co Headlines

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