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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 Nippon Carbide Industries Co's Net-Net Working Capital or its related term are showing as below:
TSE:4064's Price-to-Net-Net-Working-Capital is ranked better than 59.05% of 591
companies
in the Chemicals industry
Industry Median: 8.46
vs TSE:4064: 6.28
Nippon Carbide Industries Co (TSE:4064) 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.
Nippon Carbide Industries Co Net-Net Working Capital Related Terms
Nippon Carbide Industries 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.
Nippon Carbide Industries Co Net-Net Working Capital Chart
TSE:4064 vs LIN, SHW, ECL: Net-Net Working Capital Comparison
For the Specialty Chemicals subindustry, Nippon Carbide Industries 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.
Nippon Carbide Industries Co Price-to-Net-Net-Working-Capital vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Nippon Carbide Industries Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Nippon Carbide Industries 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631.05 mean?
Nippon Carbide Industries Co (TSE:4064) has a Net-Net Working Capital of 円631.05 as of Mar. 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 Nippon Carbide Industries Co According to the industry distribution chart, Nippon Carbide Industries Co ranks #242 out of 591 companies in the Chemicals industry, placing it in the top 40.9%.
Is Nippon Carbide Industries Co's Net-Net Working Capital too high?
Nippon Carbide Industries Co's current Net-Net Working Capital is 円631.05. Based on the distribution chart, Nippon Carbide Industries Co ranks #242 out of 591 companies in the Chemicals industry, which is above the industry midpoint. Overall, Nippon Carbide Industries Co has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nippon Carbide Industries Co's Net-Net Working Capital compare to LIN and SHW?
According to the Chemicals industry distribution chart, Nippon Carbide Industries Co ranks #242 out of 591 companies for Net-Net Working Capital. This puts Nippon Carbide Industries Co in the upper half of its industry. The industry median Net-Net Working Capital is 8.46. 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 Chemicals company?
The median Net-Net Working Capital among Chemicals companies is 8.46, based on 591 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 Nippon Carbide Industries Co For the Chemicals industry, the median Net-Net Working Capital is 8.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nippon Carbide Industries Co's current Net-Net Working Capital is 円631.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nippon Carbide Industries Co stock overvalued right now?
Based on GuruFocus' analysis, Nippon Carbide Industries Co (TSE:4064) is currently considered Significantly Overvalued. The stock's GF Value™ is 円2,094.52, compared to a current price of 円3,440.00 — trading 64.2% above its estimated fair value. The current Net-Net Working Capital is 円631.05. Nippon Carbide Industries Co's overall GF Score™ is 75/100 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 Nippon Carbide Industries Co (TSE:4064), the current Net-Net Working Capital is 円631.05 as of Mar. 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 Nippon Carbide Industries Co (TSE:4064) Overvalued in 2026?
Based on GuruFocus' analysis, Nippon Carbide Industries Co stock appears to be overvalued.
The current stock price of 円3,440.00 is trading 64.2% above its estimated GF Value™ of 円2,094.52.
GuruFocus considers Nippon Carbide Industries Co to be Significantly Overvalued.
Key valuation signals for TSE:4064:
Net-Net Working Capital: 円631.05
GF Value™: 円2,094.52 vs. price of 円3,440.00 (64.2% above fair value)
No single metric tells the full story. See the TSE:4064 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nippon Carbide Industries Co Inc is engaged in the manufacture and sales of chemicals, plastics and resins, plastics films and electronic materials. Its product offerings include calcium carbide, dicyandiamide, cyanamide solution, among others. The company also manufacture and sell adhesive products used in medical, optical, and electronic equipment, coating materials for paper, film, and metal, fiber processing, and pigments.
75GF 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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