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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.
Soiken Holdings's Net-Net Working Capital for the quarter that ended in Dec. 2025 was 円202.42.
The industry rank for Soiken Holdings's Net-Net Working Capital or its related term are showing as below:
TSE:2385's Price-to-Net-Net-Working-Capital is ranked better than 92.54% of 844
companies
in the Biotechnology industry
Industry Median: 5.305
vs TSE:2385: 1.06
Soiken Holdings (TSE:2385) 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.
Soiken Holdings Net-Net Working Capital Related Terms
Soiken Holdings Net-Net Working Capital Historical Data
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The historical data trend for Soiken Holdings'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:2385 vs VRTX, REGN, RVMD: Net-Net Working Capital Comparison
For the Biotechnology subindustry, Soiken Holdings'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.
Soiken Holdings Price-to-Net-Net-Working-Capital vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Soiken Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Soiken Holdings'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202.42 mean?
Soiken Holdings (TSE:2385) has a Net-Net Working Capital of 円202.42 as of Dec. 2025. 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 Soiken Holdings According to the industry distribution chart, Soiken Holdings ranks #63 out of 844 companies in the Biotechnology industry, placing it in the top 7.5%.
Is Soiken Holdings' Net-Net Working Capital too high?
Soiken Holdings' current Net-Net Working Capital is 円202.42. Based on the distribution chart, Soiken Holdings ranks #63 out of 844 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Soiken Holdings has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Soiken Holdings' Net-Net Working Capital compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Soiken Holdings ranks #63 out of 844 companies for Net-Net Working Capital. This places Soiken Holdings in the top 8% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 5.31. 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 Biotechnology company?
The median Net-Net Working Capital among Biotechnology companies is 5.31, based on 844 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 Soiken Holdings For the Biotechnology industry, the median Net-Net Working Capital is 5.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Soiken Holdings's current Net-Net Working Capital is 円202.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Soiken Holdings stock overvalued right now?
Based on GuruFocus' analysis, Soiken Holdings (TSE:2385) is currently considered Significantly Overvalued. The stock's GF Value™ is 円118.52, compared to a current price of 円221.00 — trading 86.5% above its estimated fair value. The current Net-Net Working Capital is 円202.42. Soiken Holdings' overall GF Score™ is 58/100 with 1 warning sign 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 Soiken Holdings (TSE:2385), the current Net-Net Working Capital is 円202.42 as of Dec. 2025. 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 Soiken Holdings (TSE:2385) Overvalued in 2026?
Based on GuruFocus' analysis, Soiken Holdings stock appears to be overvalued.
The current stock price of 円221.00 is trading 86.5% above its estimated GF Value™ of 円118.52.
GuruFocus considers Soiken Holdings to be Significantly Overvalued.
Key valuation signals for TSE:2385:
Net-Net Working Capital: 円202.42
GF Value™: 円118.52 vs. price of 円221.00 (86.5% above fair value)
No single metric tells the full story. See the TSE:2385 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Soiken Holdings Inc operates as a biotechnology company in Japan. It provides clinical testing for pharmaceutical and food manufacturers that develop drugs and health food products based on biomarkers. It is involved in the marketing research and post-marketing surveillance of health supplements.
58GF 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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