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MorphoTSE:3653 -16.59%56 Net-Net Working Capital is 円362.99 as of Apr. 2026. GuruFocus rates TSE:3653 with a GF Score™ of 56/100 and a GF Value™ of 円1,493.06 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 1,227 Software companies, Morpho ranks better than 86.15% 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.
Morpho's Net-Net Working Capital for the quarter that ended in Apr. 2026 was 円362.99.
The industry rank for Morpho's Net-Net Working Capital or its related term are showing as below:
TSE:3653's Price-to-Net-Net-Working-Capital is ranked better than 86.15% of 1227
companies
in the Software industry
Industry Median: 7.1
vs TSE:3653: 2.38
Morpho (TSE:3653) 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.
Morpho Net-Net Working Capital Related Terms
Morpho Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Morpho'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:3653 vs CRM, SHOP, UBER: Net-Net Working Capital Comparison
For the Software - Application subindustry, Morpho'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.
Morpho Price-to-Net-Net-Working-Capital vs Software Industry
For the Software industry and Technology sector, Morpho's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Morpho'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362.99 mean?
Morpho (TSE:3653) has a Net-Net Working Capital of 円362.99 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 Morpho According to the industry distribution chart, Morpho ranks #170 out of 1227 companies in the Software industry, placing it in the top 13.9%.
Is Morpho's Net-Net Working Capital too high?
Morpho's current Net-Net Working Capital is 円362.99. Based on the distribution chart, Morpho ranks #170 out of 1227 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Morpho has a GF Score™ of 56/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Morpho's Net-Net Working Capital compare to CRM and SHOP?
According to the Software industry distribution chart, Morpho ranks #170 out of 1227 companies for Net-Net Working Capital. This places Morpho in the top 14% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 7.10. 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 Software company?
The median Net-Net Working Capital among Software companies is 7.10, based on 1,227 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 Morpho For the Software industry, the median Net-Net Working Capital is 7.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morpho's current Net-Net Working Capital is 円362.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Morpho stock overvalued right now?
Based on GuruFocus' analysis, Morpho (TSE:3653) is currently considered Significantly Undervalued. The stock's GF Value™ is 円1,493.06, compared to a current price of 円865.00 — trading 42.1% below its estimated fair value. The current Net-Net Working Capital is 円362.99. Morpho's overall GF Score™ is 56/100 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 Morpho (TSE:3653), the current Net-Net Working Capital is 円362.99 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 Morpho (TSE:3653) Overvalued in 2026?
Based on GuruFocus' analysis, Morpho stock appears to be undervalued.
The current stock price of 円865.00 is trading 42.1% below its estimated GF Value™ of 円1,493.06.
GuruFocus considers Morpho to be Significantly Undervalued.
Key valuation signals for TSE:3653:
Net-Net Working Capital: 円362.99
GF Value™: 円1,493.06 vs. price of 円865.00 (42.1% below fair value)
No single metric tells the full story. See the TSE:3653 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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