Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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:3717's Price-to-Net-Net-Working-Capital is not ranked *
in the Hardware industry.
Industry Median: 9.07 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Excellence Optoelectronics Holding Co (TPE:3717) 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.
Excellence Optoelectronics Holding Co Net-Net Working Capital Related Terms
Excellence Optoelectronics Holding 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.
Excellence Optoelectronics Holding Co Net-Net Working Capital Chart
Excellence Optoelectronics Holding Co Annual Data
Trend
Dec24
Dec25
Net-Net Working Capital
-7.06
-10.26
Excellence Optoelectronics Holding Co Quarterly Data
TPE:3717 vs APH, GLW, TEL: Net-Net Working Capital Comparison
For the Electronic Components subindustry, Excellence Optoelectronics Holding 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.
Excellence Optoelectronics Holding Co Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, Excellence Optoelectronics Holding Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Excellence Optoelectronics Holding 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$-10.91 mean?
Excellence Optoelectronics Holding Co (TPE:3717) has a Net-Net Working Capital of NT$-10.91 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 Excellence Optoelectronics Holding Co According to the industry distribution chart, Excellence Optoelectronics Holding Co ranks #999999 out of 1131 companies in the Hardware industry.
Is Excellence Optoelectronics Holding Co's Net-Net Working Capital too high?
Excellence Optoelectronics Holding Co's current Net-Net Working Capital is NT$-10.91. Based on the distribution chart, Excellence Optoelectronics Holding Co ranks #999999 out of 1131 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Excellence Optoelectronics Holding Co has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Excellence Optoelectronics Holding Co's Net-Net Working Capital compare to APH and GLW?
According to the Hardware industry distribution chart, Excellence Optoelectronics Holding Co ranks #999999 out of 1131 companies for Net-Net Working Capital. This places Excellence Optoelectronics Holding Co in the lower half of its industry. The industry median Net-Net Working Capital is 9.07. 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 Hardware company?
The median Net-Net Working Capital among Hardware companies is 9.07, based on 1,131 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 Excellence Optoelectronics Holding Co For the Hardware industry, the median Net-Net Working Capital is 9.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Excellence Optoelectronics Holding Co's current Net-Net Working Capital is NT$-10.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Excellence Optoelectronics Holding Co stock overvalued right now?
Excellence Optoelectronics Holding Co (TPE:3717) has a current Net-Net Working Capital of NT$-10.91. The current Net-Net Working Capital is NT$-10.91. Excellence Optoelectronics Holding Co's overall GF Score™ is 16/100 with 6 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 Excellence Optoelectronics Holding Co (TPE:3717), the current Net-Net Working Capital is NT$-10.91 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.
Excellence Optoelectronics Holding Co is a high technology-oriented company. It is a professional LED lamp manufacturer producing top quality of Super High Brightness LED lamps with AlInGaP and InGaN chip materials. It's subsidiaries nclude the design, development, testing, manufacturing of LED components, OEM/ODM LED modules and patented solution for the automotive market; LED traffic signals, LED street lighting, industrial lighting and LED consumer products for the energy-saving market; and the design, installation and construction of energy-saving products for government and public sector projects.
16GF Score
Get the complete analysis for TPE:3717
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TPE:3717 has been successfully added to your 
