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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 Taiwan Shin Kong Security Co's Net-Net Working Capital or its related term are showing as below:
TPE:9925's Price-to-Net-Net-Working-Capital is ranked better than 61.1% of 437
companies
in the Business Services industry
Industry Median: 5.93
vs TPE:9925: 4.28
Taiwan Shin Kong Security Co (TPE:9925) 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.
Taiwan Shin Kong Security Co Net-Net Working Capital Related Terms
Taiwan Shin Kong Security 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.
Taiwan Shin Kong Security Co Net-Net Working Capital Chart
TPE:9925 vs ALLE, MSA, ADT: Net-Net Working Capital Comparison
For the Security & Protection Services subindustry, Taiwan Shin Kong Security 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.
Taiwan Shin Kong Security Co Price-to-Net-Net-Working-Capital vs Business Services Industry
For the Business Services industry and Industrials sector, Taiwan Shin Kong Security Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Taiwan Shin Kong Security 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$9.39 mean?
Taiwan Shin Kong Security Co (TPE:9925) has a Net-Net Working Capital of NT$9.39 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 Taiwan Shin Kong Security Co According to the industry distribution chart, Taiwan Shin Kong Security Co ranks #170 out of 437 companies in the Business Services industry, placing it in the top 38.9%.
Is Taiwan Shin Kong Security Co's Net-Net Working Capital too high?
Taiwan Shin Kong Security Co's current Net-Net Working Capital is NT$9.39. Based on the distribution chart, Taiwan Shin Kong Security Co ranks #170 out of 437 companies in the Business Services industry, which is above the industry midpoint. Overall, Taiwan Shin Kong Security Co has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Taiwan Shin Kong Security Co's Net-Net Working Capital compare to ALLE and MSA?
According to the Business Services industry distribution chart, Taiwan Shin Kong Security Co ranks #170 out of 437 companies for Net-Net Working Capital. This puts Taiwan Shin Kong Security Co in the upper half of its industry. The industry median Net-Net Working Capital is 5.93. 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 Business Services company?
The median Net-Net Working Capital among Business Services companies is 5.93, based on 437 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 Taiwan Shin Kong Security Co For the Business Services industry, the median Net-Net Working Capital is 5.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Taiwan Shin Kong Security Co's current Net-Net Working Capital is NT$9.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Taiwan Shin Kong Security Co stock overvalued right now?
Based on GuruFocus' analysis, Taiwan Shin Kong Security Co (TPE:9925) is currently considered Fairly Valued. The stock's GF Value™ is NT$43.55, compared to a current price of NT$40.15 — trading 7.8% below its estimated fair value. The current Net-Net Working Capital is NT$9.39. Taiwan Shin Kong Security Co's overall GF Score™ is 88/100 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 Taiwan Shin Kong Security Co (TPE:9925), the current Net-Net Working Capital is NT$9.39 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 Taiwan Shin Kong Security Co (TPE:9925) Overvalued in 2026?
Based on GuruFocus' analysis, Taiwan Shin Kong Security Co stock appears to be undervalued.
The current stock price of NT$40.15 is trading 7.8% below its estimated GF Value™ of NT$43.55.
GuruFocus considers Taiwan Shin Kong Security Co to be Fairly Valued.
Key valuation signals for TPE:9925:
Net-Net Working Capital: NT$9.39
GF Value™: NT$43.55 vs. price of NT$40.15 (7.8% below fair value)
No single metric tells the full story. See the TPE:9925 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Taiwan Shin Kong Security Co Ltd is a Taiwanese security systems provider. It is engaged in the design, sale, rental, installation, maintenance, repair, and inspection of fire prevention, burglary prevention, and fire protection apparatus, as well as the import and export of these products and the operation and investment of such businesses. The reportable segments of the company are the electronic services business, cash-in-transit business, stationed security business, and others. The majority of its revenue is generated from the electronic services segment which provides electronic security services.
88GF 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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