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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.
The industry rank for Zhen Ding Technology Holding's Net-Net Working Capital or its related term are showing as below:
TPE:4958's Price-to-Net-Net-Working-Capital is not ranked *
in the Hardware industry.
Industry Median: 9.04 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Zhen Ding Technology Holding (TPE:4958) 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.
Zhen Ding Technology Holding Net-Net Working Capital Related Terms
Zhen Ding Technology Holding 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.
Zhen Ding Technology Holding Net-Net Working Capital Chart
TPE:4958 vs APH, GLW, TEL: Net-Net Working Capital Comparison
For the Electronic Components subindustry, Zhen Ding Technology Holding'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.
Zhen Ding Technology Holding Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, Zhen Ding Technology Holding's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Zhen Ding Technology Holding'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$-56.51 mean?
Zhen Ding Technology Holding (TPE:4958) has a Net-Net Working Capital of NT$-56.51 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 Zhen Ding Technology Holding According to the industry distribution chart, Zhen Ding Technology Holding ranks #999999 out of 1129 companies in the Hardware industry.
Is Zhen Ding Technology Holding's Net-Net Working Capital too high?
Zhen Ding Technology Holding's current Net-Net Working Capital is NT$-56.51. Based on the distribution chart, Zhen Ding Technology Holding ranks #999999 out of 1129 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Zhen Ding Technology Holding has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Zhen Ding Technology Holding's Net-Net Working Capital compare to APH and GLW?
According to the Hardware industry distribution chart, Zhen Ding Technology Holding ranks #999999 out of 1129 companies for Net-Net Working Capital. This places Zhen Ding Technology Holding in the lower half of its industry. The industry median Net-Net Working Capital is 9.04. 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 9.04, based on 1,129 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 Zhen Ding Technology Holding For the Hardware industry, the median Net-Net Working Capital is 9.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zhen Ding Technology Holding's current Net-Net Working Capital is NT$-56.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zhen Ding Technology Holding stock overvalued right now?
Based on GuruFocus' analysis, Zhen Ding Technology Holding (TPE:4958) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$134.74, compared to a current price of NT$444.00 — trading 229.5% above its estimated fair value. The current Net-Net Working Capital is NT$-56.51. Zhen Ding Technology Holding's overall GF Score™ is 81/100 with 7 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 Zhen Ding Technology Holding (TPE:4958), the current Net-Net Working Capital is NT$-56.51 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 Zhen Ding Technology Holding (TPE:4958) Overvalued in 2026?
Based on GuruFocus' analysis, Zhen Ding Technology Holding stock appears to be overvalued.
The current stock price of NT$444.00 is trading 229.5% above its estimated GF Value™ of NT$134.74.
GuruFocus considers Zhen Ding Technology Holding to be Significantly Overvalued.
Key valuation signals for TPE:4958:
Net-Net Working Capital: NT$-56.51
GF Value™: NT$134.74 vs. price of NT$444.00 (229.5% above fair value)
No single metric tells the full story. See the TPE:4958 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zhen Ding Technology Holding Ltd manufactures printed circuit boards, including high-density interconnection, flexible printed circuits, rigid printed circuit boards, and integrated circuit substrates. These products are used in a variety of applications, including personal computers, watches, memory and data cards, smartphones, tablets, media players, televisions, digital and video cameras, and game consoles. Its customers include the telecommunications, electronics, automotive, medical equipment, military equipment, and space industries. The Group generates all of its revenue from the manufacturing of PCB products. Geographically, it derives maximum revenue from the USA, and the rest from Mainland China, Taiwan, Singapore, and other regions.
81GF 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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