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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.
Koatsu Gas Kogyo Co's Net-Net Working Capital for the quarter that ended in Mar. 2026 was 円94.56.
The industry rank for Koatsu Gas Kogyo Co's Net-Net Working Capital or its related term are showing as below:
TSE:4097's Price-to-Net-Net-Working-Capital is ranked worse than 70.52% of 580
companies
in the Chemicals industry
Industry Median: 8.63
vs TSE:4097: 17.53
Koatsu Gas Kogyo Co (TSE:4097) 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.
Koatsu Gas Kogyo Co Net-Net Working Capital Related Terms
Koatsu Gas Kogyo Co Net-Net Working Capital Historical Data
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The historical data trend for Koatsu Gas Kogyo 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:4097 vs LIN, SHW, ECL: Net-Net Working Capital Comparison
For the Specialty Chemicals subindustry, Koatsu Gas Kogyo 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.
Koatsu Gas Kogyo Co Price-to-Net-Net-Working-Capital vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Koatsu Gas Kogyo Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Koatsu Gas Kogyo 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94.56 mean?
Koatsu Gas Kogyo Co (TSE:4097) has a Net-Net Working Capital of 円94.56 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 Koatsu Gas Kogyo Co According to the industry distribution chart, Koatsu Gas Kogyo Co ranks #409 out of 580 companies in the Chemicals industry, placing it in the top 70.5%.
Is Koatsu Gas Kogyo Co's Net-Net Working Capital too high?
Koatsu Gas Kogyo Co's current Net-Net Working Capital is 円94.56. Based on the distribution chart, Koatsu Gas Kogyo Co ranks #409 out of 580 companies in the Chemicals industry, which is below the industry midpoint. Overall, Koatsu Gas Kogyo Co has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Koatsu Gas Kogyo Co's Net-Net Working Capital compare to LIN and SHW?
According to the Chemicals industry distribution chart, Koatsu Gas Kogyo Co ranks #409 out of 580 companies for Net-Net Working Capital. This places Koatsu Gas Kogyo Co in the lower half of its industry. The industry median Net-Net Working Capital is 8.63. 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 8.63, based on 580 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 Koatsu Gas Kogyo Co For the Chemicals industry, the median Net-Net Working Capital is 8.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Koatsu Gas Kogyo Co's current Net-Net Working Capital is 円94.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Koatsu Gas Kogyo Co stock overvalued right now?
Based on GuruFocus' analysis, Koatsu Gas Kogyo Co (TSE:4097) is currently considered Modestly Overvalued. The stock's GF Value™ is 円954.64, compared to a current price of 円1,200.00 — trading 25.7% above its estimated fair value. The current Net-Net Working Capital is 円94.56. Koatsu Gas Kogyo Co's overall GF Score™ is 72/100 with 6 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 Koatsu Gas Kogyo Co (TSE:4097), the current Net-Net Working Capital is 円94.56 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 Koatsu Gas Kogyo Co (TSE:4097) Overvalued in 2026?
Based on GuruFocus' analysis, Koatsu Gas Kogyo Co stock appears to be overvalued.
The current stock price of 円1,200.00 is trading 25.7% above its estimated GF Value™ of 円954.64.
GuruFocus considers Koatsu Gas Kogyo Co to be Modestly Overvalued.
Key valuation signals for TSE:4097:
Net-Net Working Capital: 円94.56
GF Value™: 円954.64 vs. price of 円1,200.00 (25.7% above fair value)
No single metric tells the full story. See the TSE:4097 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Koatsu Gas Kogyo Co Ltd is engaged in the production and distribution of industrial gases and chemical products. It has three operating business divisions: Gas, Chemical Products and Information Systems. The company supplies various types of gases to a broad range of industrial sectors, from living-related industries to the medical industry. Its chemical products offering includes adhesives, a synthetic resin emulsion, cyanon, special resin and a nonwoven shock-absorbing material. The company offers information systems, such as LSI cards and reader-writers for various industrial fields, such as construction, civil engineering, transportation, and production equipment; and GNSS receiver modules.
72GF 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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