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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 Warabeya Nichiyo Holdings Co's Net-Net Working Capital or its related term are showing as below:
TSE:2918's Price-to-Net-Net-Working-Capital is not ranked *
in the Consumer Packaged Goods industry.
Industry Median: 6.86 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Warabeya Nichiyo Holdings Co (TSE:2918) 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.
Warabeya Nichiyo Holdings Co Net-Net Working Capital Related Terms
Warabeya Nichiyo Holdings 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.
Warabeya Nichiyo Holdings Co Net-Net Working Capital Chart
TSE:2918 vs KHC, GIS: Net-Net Working Capital Comparison
For the Packaged Foods subindustry, Warabeya Nichiyo Holdings 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.
Warabeya Nichiyo Holdings Co Price-to-Net-Net-Working-Capital vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Warabeya Nichiyo Holdings Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Warabeya Nichiyo Holdings 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-2,612.01 mean?
Warabeya Nichiyo Holdings Co (TSE:2918) has a Net-Net Working Capital of 円-2,612.01 as of Feb. 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 Warabeya Nichiyo Holdings Co According to the industry distribution chart, Warabeya Nichiyo Holdings Co ranks #999999 out of 655 companies in the Consumer Packaged Goods industry.
Is Warabeya Nichiyo Holdings Co's Net-Net Working Capital too high?
Warabeya Nichiyo Holdings Co's current Net-Net Working Capital is 円-2,612.01. Based on the distribution chart, Warabeya Nichiyo Holdings Co ranks #999999 out of 655 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Warabeya Nichiyo Holdings Co has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Warabeya Nichiyo Holdings Co's Net-Net Working Capital compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Warabeya Nichiyo Holdings Co ranks #999999 out of 655 companies for Net-Net Working Capital. This places Warabeya Nichiyo Holdings Co in the lower half of its industry. The industry median Net-Net Working Capital is 6.86. 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 Consumer Packaged Goods company?
The median Net-Net Working Capital among Consumer Packaged Goods companies is 6.86, based on 655 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 Warabeya Nichiyo Holdings Co For the Consumer Packaged Goods industry, the median Net-Net Working Capital is 6.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Warabeya Nichiyo Holdings Co's current Net-Net Working Capital is 円-2,612.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Warabeya Nichiyo Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Warabeya Nichiyo Holdings Co (TSE:2918) is currently considered Fairly Valued. The stock's GF Value™ is 円2,888.89, compared to a current price of 円2,789.00 — trading 3.5% below its estimated fair value. The current Net-Net Working Capital is 円-2,612.01. Warabeya Nichiyo Holdings Co's overall GF Score™ is 77/100 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 Warabeya Nichiyo Holdings Co (TSE:2918), the current Net-Net Working Capital is 円-2,612.01 as of Feb. 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 Warabeya Nichiyo Holdings Co (TSE:2918) Overvalued in 2026?
Based on GuruFocus' analysis, Warabeya Nichiyo Holdings Co stock appears to be undervalued.
The current stock price of 円2,789.00 is trading 3.5% below its estimated GF Value™ of 円2,888.89.
GuruFocus considers Warabeya Nichiyo Holdings Co to be Fairly Valued.
Key valuation signals for TSE:2918:
Net-Net Working Capital: 円-2,612.01
GF Value™: 円2,888.89 vs. price of 円2,789.00 (3.5% below fair value)
No single metric tells the full story. See the TSE:2918 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Warabeya Nichiyo Holdings Co Ltd is a Japan-based company engaged in manufacturing and sale of ready-made food products. It produces ready-to-eat meals for convenience stores which includes bento meal boxes, onigiri rice balls, and side dishes. The food products offered by the group are bento meal boxes, onigiri rice balls and sushi, chilled bento meal boxes, bread products, side dishes and noodles, and chilled Japanese sweets. The organization has business operations in Japan and in international countries. The segments of the company are Food Products Business, Food Ingredients Business, and Logistics Business. The Food Products business segment includes manufacturing and sales of cooked food and Logistics business segment relates to food delivery.
77GF 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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