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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:3437's Price-to-Net-Net-Working-Capital is ranked better than 84.17% of 499
companies
in the Semiconductors industry
Industry Median: 11.5
vs TPE:3437: 3.72
Advanced Optoelectronic Technology (TPE:3437) 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.
Advanced Optoelectronic Technology Net-Net Working Capital Related Terms
Advanced Optoelectronic Technology 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.
Advanced Optoelectronic Technology Net-Net Working Capital Chart
TPE:3437 vs NVDA, AVGO, MU: Net-Net Working Capital Comparison
For the Semiconductors subindustry, Advanced Optoelectronic Technology'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.
Advanced Optoelectronic Technology Price-to-Net-Net-Working-Capital vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Advanced Optoelectronic Technology's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Advanced Optoelectronic Technology'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$4.81 mean?
Advanced Optoelectronic Technology (TPE:3437) has a Net-Net Working Capital of NT$4.81 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 Advanced Optoelectronic Technology According to the industry distribution chart, Advanced Optoelectronic Technology ranks #79 out of 499 companies in the Semiconductors industry, placing it in the top 15.8%.
Is Advanced Optoelectronic Technology's Net-Net Working Capital too high?
Advanced Optoelectronic Technology's current Net-Net Working Capital is NT$4.81. Based on the distribution chart, Advanced Optoelectronic Technology ranks #79 out of 499 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Advanced Optoelectronic Technology has a GF Score™ of 61/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Advanced Optoelectronic Technology's Net-Net Working Capital compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, Advanced Optoelectronic Technology ranks #79 out of 499 companies for Net-Net Working Capital. This places Advanced Optoelectronic Technology in the top 16% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 11.50. 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 Semiconductors company?
The median Net-Net Working Capital among Semiconductors companies is 11.50, based on 499 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 Advanced Optoelectronic Technology For the Semiconductors industry, the median Net-Net Working Capital is 11.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Advanced Optoelectronic Technology's current Net-Net Working Capital is NT$4.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Advanced Optoelectronic Technology stock overvalued right now?
Based on GuruFocus' analysis, Advanced Optoelectronic Technology (TPE:3437) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$15.82, compared to a current price of NT$17.90 — trading 13.1% above its estimated fair value. The current Net-Net Working Capital is NT$4.81. Advanced Optoelectronic Technology's overall GF Score™ is 61/100 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 Advanced Optoelectronic Technology (TPE:3437), the current Net-Net Working Capital is NT$4.81 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 Advanced Optoelectronic Technology (TPE:3437) Overvalued in 2026?
Based on GuruFocus' analysis, Advanced Optoelectronic Technology stock appears to be overvalued.
The current stock price of NT$17.90 is trading 13.1% above its estimated GF Value™ of NT$15.82.
GuruFocus considers Advanced Optoelectronic Technology to be Modestly Overvalued.
Key valuation signals for TPE:3437:
Net-Net Working Capital: NT$4.81
GF Value™: NT$15.82 vs. price of NT$17.90 (13.1% above fair value)
No single metric tells the full story. See the TPE:3437 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Advanced Optoelectronic Technology is focused on the research and development, testing, manufacturing, and sale of LEDs, as well as the import/export and trading of raw materials and semi-finished products. The product portfolio comprises Backlight applications, Sensor applications, Vehicle applications, UV applications, and VR applications (ASPHETEK).
61GF Score
Get the complete analysis for TPE:3437
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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