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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.
Tze Shin International Co's Net-Net Working Capital for the quarter that ended in Jun. 2026 was NT$5.35.
The industry rank for Tze Shin International Co's Net-Net Working Capital or its related term are showing as below:
TPE:2611's Price-to-Net-Net-Working-Capital is ranked better than 79.11% of 225
companies
in the Transportation industry
Industry Median: 6.39
vs TPE:2611: 2.60
Tze Shin International Co (TPE:2611) 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.
Tze Shin International Co Net-Net Working Capital Related Terms
Tze Shin International Co Net-Net Working Capital Historical Data
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The historical data trend for Tze Shin International 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.
Tze Shin International Co Net-Net Working Capital Chart
Tze Shin International Co Net-Net Working Capital Competitor Comparison
For the Marine Shipping subindustry, Tze Shin International 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.
Tze Shin International Co Price-to-Net-Net-Working-Capital vs Transportation Industry
For the Transportation industry and Industrials sector, Tze Shin International Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Tze Shin International 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$5.35 mean?
Tze Shin International Co (TPE:2611) has a Net-Net Working Capital of NT$5.35 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 Tze Shin International Co According to the industry distribution chart, Tze Shin International Co ranks #47 out of 225 companies in the Transportation industry, placing it in the top 20.9%.
Is Tze Shin International Co's Net-Net Working Capital too high?
Tze Shin International Co's current Net-Net Working Capital is NT$5.35. Based on the distribution chart, Tze Shin International Co ranks #47 out of 225 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Tze Shin International Co has a GF Score™ of 65/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tze Shin International Co's Net-Net Working Capital compare to competitors?
According to the Transportation industry distribution chart, Tze Shin International Co ranks #47 out of 225 companies for Net-Net Working Capital. This places Tze Shin International Co in the top 21% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 6.39. 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 Transportation company?
The median Net-Net Working Capital among Transportation companies is 6.39, based on 225 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 Tze Shin International Co For the Transportation industry, the median Net-Net Working Capital is 6.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tze Shin International Co's current Net-Net Working Capital is NT$5.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tze Shin International Co stock overvalued right now?
Based on GuruFocus' analysis, Tze Shin International Co (TPE:2611) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$26.43, compared to a current price of NT$13.90 — trading 47.4% below its estimated fair value. The current Net-Net Working Capital is NT$5.35. Tze Shin International Co's overall GF Score™ is 65/100 with 4 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 Tze Shin International Co (TPE:2611), the current Net-Net Working Capital is NT$5.35 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 Tze Shin International Co (TPE:2611) Overvalued in 2026?
Based on GuruFocus' analysis, Tze Shin International Co stock appears to be undervalued.
The current stock price of NT$13.90 is trading 47.4% below its estimated GF Value™ of NT$26.43.
GuruFocus considers Tze Shin International Co to be Significantly Undervalued.
Key valuation signals for TPE:2611:
Net-Net Working Capital: NT$5.35
GF Value™: NT$26.43 vs. price of NT$13.90 (47.4% below fair value)
No single metric tells the full story. See the TPE:2611 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tze Shin International Co Ltd operates in the shipping and ports industry. The Company offers long-distance container transshipment; Shipside transportation operations; container haulage; truck freight: transportation of chemicals, gasoline, and diesel tanks, lease of containers, racks, and equipment; and bulk goods; and entrust of construction companies to build commercial, industrial buildings, and public housing for sale and leasing. The company's revenue mainly comes from transportation services and the operation of international tourist hotels. The segments include: Hotel segment, Transportation segment, Construction segment and Other segment, of which Hotel segment derives maximum revenue.
65GF 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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