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.
MoriyaTSE:1798 -0.94%70 Net-Net Working Capital is 円280.83 as of Mar. 2026. GuruFocus rates TSE:1798 with a GF Score™ of 70/100 and a GF Value™ of 円894.68 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 476 Construction companies, Moriya ranks better than 69.54% on this metric.
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.
Moriya's Net-Net Working Capital for the quarter that ended in Mar. 2026 was 円280.83.
The industry rank for Moriya's Net-Net Working Capital or its related term are showing as below:
TSE:1798's Price-to-Net-Net-Working-Capital is ranked better than 69.54% of 476
companies
in the Construction industry
Industry Median: 6.515
vs TSE:1798: 3.73
Moriya (TSE:1798) 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.
Moriya Net-Net Working Capital Related Terms
Moriya Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Moriya's Net-Net Working Capital can be seen below:
* 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.
TSE:1798 vs PWR, FIX, EME: Net-Net Working Capital Comparison
For the Engineering & Construction subindustry, Moriya'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.
Moriya Price-to-Net-Net-Working-Capital vs Construction Industry
For the Construction industry and Industrials sector, Moriya's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Moriya'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 円280.83 mean?
Moriya (TSE:1798) has a Net-Net Working Capital of 円280.83 as of Mar. 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 Moriya According to the industry distribution chart, Moriya ranks #145 out of 476 companies in the Construction industry, placing it in the top 30.5%.
Is Moriya's Net-Net Working Capital too high?
Moriya's current Net-Net Working Capital is 円280.83. Based on the distribution chart, Moriya ranks #145 out of 476 companies in the Construction industry, which is above the industry midpoint. Overall, Moriya has a GF Score™ of 70/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Moriya's Net-Net Working Capital compare to PWR and FIX?
According to the Construction industry distribution chart, Moriya ranks #145 out of 476 companies for Net-Net Working Capital. This puts Moriya in the upper half of its industry. The industry median Net-Net Working Capital is 6.52. 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 Construction company?
The median Net-Net Working Capital among Construction companies is 6.52, based on 476 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 Moriya For the Construction industry, the median Net-Net Working Capital is 6.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Moriya's current Net-Net Working Capital is 円280.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Moriya stock overvalued right now?
Based on GuruFocus' analysis, Moriya (TSE:1798) is currently considered Modestly Overvalued. The stock's GF Value™ is 円894.68, compared to a current price of 円1,050.00 — trading 17.4% above its estimated fair value. The current Net-Net Working Capital is 円280.83. Moriya's overall GF Score™ is 70/100 with 2 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 Moriya (TSE:1798), the current Net-Net Working Capital is 円280.83 as of Mar. 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 Moriya (TSE:1798) Overvalued in 2026?
Based on GuruFocus' analysis, Moriya stock appears to be overvalued.
The current stock price of 円1,050.00 is trading 17.4% above its estimated GF Value™ of 円894.68.
GuruFocus considers Moriya to be Modestly Overvalued.
Key valuation signals for TSE:1798:
Net-Net Working Capital: 円280.83
GF Value™: 円894.68 vs. price of 円1,050.00 (17.4% above fair value)
No single metric tells the full story. See the TSE:1798 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Moriya Corp is a general contractor based in Nagano. It constructs commercial, institutional, and residential buildings such as sports facilities, schools, and apartments; as well as civil projects, such as dams, roads, tunnels, and bridges.
70GF Score
Get the complete analysis for TSE:1798
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
TSE:1798 has been successfully added to your 
