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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.
Nomura System Co's Net-Net Working Capital for the quarter that ended in Jun. 2026 was 円58.02.
The industry rank for Nomura System Co's Net-Net Working Capital or its related term are showing as below:
TSE:3940's Price-to-Net-Net-Working-Capital is ranked better than 88.26% of 1227
companies
in the Software industry
Industry Median: 7.11
vs TSE:3940: 2.19
Nomura System Co (TSE:3940) 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.
Nomura System Co Net-Net Working Capital Related Terms
Nomura System Co Net-Net Working Capital Historical Data
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The historical data trend for Nomura System 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:3940 vs IBM, ACN, CTSH: Net-Net Working Capital Comparison
For the Information Technology Services subindustry, Nomura System 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.
Nomura System Co Price-to-Net-Net-Working-Capital vs Software Industry
For the Software industry and Technology sector, Nomura System Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Nomura System 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58.02 mean?
Nomura System Co (TSE:3940) has a Net-Net Working Capital of 円58.02 as of Jun. 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 Nomura System Co According to the industry distribution chart, Nomura System Co ranks #144 out of 1227 companies in the Software industry, placing it in the top 11.7%.
Is Nomura System Co's Net-Net Working Capital too high?
Nomura System Co's current Net-Net Working Capital is 円58.02. Based on the distribution chart, Nomura System Co ranks #144 out of 1227 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Nomura System Co has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Nomura System Co's Net-Net Working Capital compare to IBM and ACN?
According to the Software industry distribution chart, Nomura System Co ranks #144 out of 1227 companies for Net-Net Working Capital. This places Nomura System Co in the top 12% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 7.11. 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 7.11, 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 Nomura System Co For the Software industry, the median Net-Net Working Capital is 7.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nomura System Co's current Net-Net Working Capital is 円58.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nomura System Co stock overvalued right now?
Based on GuruFocus' analysis, Nomura System Co (TSE:3940) is currently considered Fairly Valued. The stock's GF Value™ is 円132.78, compared to a current price of 円127.00 — trading 4.4% below its estimated fair value. The current Net-Net Working Capital is 円58.02. Nomura System Co's overall GF Score™ is 70/100 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 Nomura System Co (TSE:3940), the current Net-Net Working Capital is 円58.02 as of Jun. 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 Nomura System Co (TSE:3940) Overvalued in 2026?
Based on GuruFocus' analysis, Nomura System Co stock appears to be undervalued.
The current stock price of 円127.00 is trading 4.4% below its estimated GF Value™ of 円132.78.
GuruFocus considers Nomura System Co to be Fairly Valued.
Key valuation signals for TSE:3940:
Net-Net Working Capital: 円58.02
GF Value™: 円132.78 vs. price of 円127.00 (4.4% below fair value)
No single metric tells the full story. See the TSE:3940 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nomura System Corporation Co Ltd provides Erp Consultancy service and Network Consulting Service. It provides AP introduction consulting, SAP maintenance support center administration, RPA/AI consulting and Web system development consulting service.
70GF 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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