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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.
Kakiyasu Honten Co's Net-Net Working Capital for the quarter that ended in Apr. 2026 was 円668.34.
The industry rank for Kakiyasu Honten Co's Net-Net Working Capital or its related term are showing as below:
TSE:2294's Price-to-Net-Net-Working-Capital is ranked better than 56.41% of 78
companies
in the Retail - Defensive industry
Industry Median: 4.585
vs TSE:2294: 3.86
Kakiyasu Honten Co (TSE:2294) 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.
Kakiyasu Honten Co Net-Net Working Capital Related Terms
Kakiyasu Honten Co Net-Net Working Capital Historical Data
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The historical data trend for Kakiyasu Honten Co'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:2294 vs SYY, USFD, PFGC: Net-Net Working Capital Comparison
For the Food Distribution subindustry, Kakiyasu Honten 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.
Kakiyasu Honten Co Price-to-Net-Net-Working-Capital vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Kakiyasu Honten Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Kakiyasu Honten 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 円668.34 mean?
Kakiyasu Honten Co (TSE:2294) has a Net-Net Working Capital of 円668.34 as of Apr. 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 Kakiyasu Honten Co According to the industry distribution chart, Kakiyasu Honten Co ranks #34 out of 78 companies in the Retail - Defensive industry, placing it in the top 43.6%.
Is Kakiyasu Honten Co's Net-Net Working Capital too high?
Kakiyasu Honten Co's current Net-Net Working Capital is 円668.34. Based on the distribution chart, Kakiyasu Honten Co ranks #34 out of 78 companies in the Retail - Defensive industry, which is above the industry midpoint. Overall, Kakiyasu Honten Co has a GF Score™ of 58/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Kakiyasu Honten Co's Net-Net Working Capital compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Kakiyasu Honten Co ranks #34 out of 78 companies for Net-Net Working Capital. This puts Kakiyasu Honten Co in the upper half of its industry. The industry median Net-Net Working Capital is 4.59. 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 Retail - Defensive company?
The median Net-Net Working Capital among Retail - Defensive companies is 4.59, based on 78 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 Kakiyasu Honten Co For the Retail - Defensive industry, the median Net-Net Working Capital is 4.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kakiyasu Honten Co's current Net-Net Working Capital is 円668.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kakiyasu Honten Co stock overvalued right now?
Based on GuruFocus' analysis, Kakiyasu Honten Co (TSE:2294) is currently considered Fairly Valued. The stock's GF Value™ is 円2,780.37, compared to a current price of 円2,578.00 — trading 7.3% below its estimated fair value. The current Net-Net Working Capital is 円668.34. Kakiyasu Honten Co's overall GF Score™ is 58/100 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 Kakiyasu Honten Co (TSE:2294), the current Net-Net Working Capital is 円668.34 as of Apr. 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 Kakiyasu Honten Co (TSE:2294) Overvalued in 2026?
Based on GuruFocus' analysis, Kakiyasu Honten Co stock appears to be undervalued.
The current stock price of 円2,578.00 is trading 7.3% below its estimated GF Value™ of 円2,780.37.
GuruFocus considers Kakiyasu Honten Co to be Fairly Valued.
Key valuation signals for TSE:2294:
Net-Net Working Capital: 円668.34
GF Value™: 円2,780.37 vs. price of 円2,578.00 (7.3% below fair value)
No single metric tells the full story. See the TSE:2294 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kakiyasu Honten Co Ltd operates the restaurant and food business in Japan. The company is engaged in the sale of meat, prepared foods, and Japanese sweets. The company also manufactures and sells stewed beef and operates a restaurant.
58GF Score
Get the complete analysis for TSE:2294
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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