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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.
Shirohato Co's Net-Net Working Capital for the quarter that ended in May. 2026 was 円-208.93.
The industry rank for Shirohato Co's Net-Net Working Capital or its related term are showing as below:
TSE:3192's Price-to-Net-Net-Working-Capital is not ranked *
in the Retail - Cyclical industry.
Industry Median: 6.46 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Shirohato Co (TSE:3192) 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.
Shirohato Co Net-Net Working Capital Related Terms
Shirohato Co Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Shirohato 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:3192 vs AMZN, BABA, PDD: Net-Net Working Capital Comparison
For the Internet Retail subindustry, Shirohato 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.
Shirohato Co Price-to-Net-Net-Working-Capital vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Shirohato Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Shirohato 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-208.93 mean?
Shirohato Co (TSE:3192) has a Net-Net Working Capital of 円-208.93 as of May. 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 Shirohato Co According to the industry distribution chart, Shirohato Co ranks #999999 out of 329 companies in the Retail - Cyclical industry.
Is Shirohato Co's Net-Net Working Capital too high?
Shirohato Co's current Net-Net Working Capital is 円-208.93. Based on the distribution chart, Shirohato Co ranks #999999 out of 329 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Shirohato Co has a GF Score™ of 55/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Shirohato Co's Net-Net Working Capital compare to AMZN and BABA?
According to the Retail - Cyclical industry distribution chart, Shirohato Co ranks #999999 out of 329 companies for Net-Net Working Capital. This places Shirohato Co in the lower half of its industry. The industry median Net-Net Working Capital is 6.46. 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 - Cyclical company?
The median Net-Net Working Capital among Retail - Cyclical companies is 6.46, based on 329 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 Shirohato Co For the Retail - Cyclical industry, the median Net-Net Working Capital is 6.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shirohato Co's current Net-Net Working Capital is 円-208.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shirohato Co stock overvalued right now?
Based on GuruFocus' analysis, Shirohato Co (TSE:3192) is currently considered Fairly Valued. The stock's GF Value™ is 円267.16, compared to a current price of 円286.00 — trading 7.1% above its estimated fair value. The current Net-Net Working Capital is 円-208.93. Shirohato Co's overall GF Score™ is 55/100 with 3 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 Shirohato Co (TSE:3192), the current Net-Net Working Capital is 円-208.93 as of May. 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 Shirohato Co (TSE:3192) Overvalued in 2026?
Based on GuruFocus' analysis, Shirohato Co stock appears to be overvalued.
The current stock price of 円286.00 is trading 7.1% above its estimated GF Value™ of 円267.16.
GuruFocus considers Shirohato Co to be Fairly Valued.
Key valuation signals for TSE:3192:
Net-Net Working Capital: 円-208.93
GF Value™: 円267.16 vs. price of 円286.00 (7.1% above fair value)
No single metric tells the full story. See the TSE:3192 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shirohato Co Ltd operates as an online shopping website company. It offers innerwear for men and women. The business activity of the group includes the purchase of innerwear from inner manufacturers and selling to individual customers through various channels on the Internet.
55GF Score
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