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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:4904's Price-to-Net-Net-Working-Capital is not ranked *
in the Telecommunication Services industry.
Industry Median: 9.24 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Far EasTone Telecommunications Co (TPE:4904) 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.
Far EasTone Telecommunications Co Net-Net Working Capital Related Terms
Far EasTone Telecommunications 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.
Far EasTone Telecommunications Co Net-Net Working Capital Chart
TPE:4904 vs VZ, TMUS, T: Net-Net Working Capital Comparison
For the Telecom Services subindustry, Far EasTone Telecommunications 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.
Far EasTone Telecommunications Co Price-to-Net-Net-Working-Capital vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Far EasTone Telecommunications Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Far EasTone Telecommunications 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$-21.34 mean?
Far EasTone Telecommunications Co (TPE:4904) has a Net-Net Working Capital of NT$-21.34 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 Far EasTone Telecommunications Co According to the industry distribution chart, Far EasTone Telecommunications Co ranks #999999 out of 57 companies in the Telecommunication Services industry.
Is Far EasTone Telecommunications Co's Net-Net Working Capital too high?
Far EasTone Telecommunications Co's current Net-Net Working Capital is NT$-21.34. Based on the distribution chart, Far EasTone Telecommunications Co ranks #999999 out of 57 companies in the Telecommunication Services industry, which is in the bottom quartile relative to peers. Overall, Far EasTone Telecommunications 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 Far EasTone Telecommunications Co's Net-Net Working Capital compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Far EasTone Telecommunications Co ranks #999999 out of 57 companies for Net-Net Working Capital. This places Far EasTone Telecommunications Co in the lower half of its industry. The industry median Net-Net Working Capital is 9.24. 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 Telecommunication Services company?
The median Net-Net Working Capital among Telecommunication Services companies is 9.24, based on 57 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 Far EasTone Telecommunications Co For the Telecommunication Services industry, the median Net-Net Working Capital is 9.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Far EasTone Telecommunications Co's current Net-Net Working Capital is NT$-21.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Far EasTone Telecommunications Co stock overvalued right now?
Based on GuruFocus' analysis, Far EasTone Telecommunications Co (TPE:4904) is currently considered Fairly Valued. The stock's GF Value™ is NT$97.04, compared to a current price of NT$102.50 — trading 5.6% above its estimated fair value. The current Net-Net Working Capital is NT$-21.34. Far EasTone Telecommunications Co's overall GF Score™ is 87/100 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 Far EasTone Telecommunications Co (TPE:4904), the current Net-Net Working Capital is NT$-21.34 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 Far EasTone Telecommunications Co (TPE:4904) Overvalued in 2026?
Based on GuruFocus' analysis, Far EasTone Telecommunications Co stock appears to be overvalued.
The current stock price of NT$102.50 is trading 5.6% above its estimated GF Value™ of NT$97.04.
GuruFocus considers Far EasTone Telecommunications Co to be Fairly Valued.
Key valuation signals for TPE:4904:
Net-Net Working Capital: NT$-21.34
GF Value™: NT$97.04 vs. price of NT$102.50 (5.6% above fair value)
No single metric tells the full story. See the TPE:4904 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Far EasTone Telecommunications Co Ltd is a telecommunications company. It provides mobile telecommunications services (including voice and internet services), international simple resale services, digital value-added services, sale of cellular phone equipment and accessories and enterprise information and communication integration services, etc. The company operating segments are Mobile services business, Fixed-line services business, Sales business. The company generates the vast majority of its revenue in Taiwan.
87GF 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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