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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.
Shikoku Kasei Holdings's Net-Net Working Capital for the quarter that ended in Jun. 2026 was 円168.15.
The industry rank for Shikoku Kasei Holdings's Net-Net Working Capital or its related term are showing as below:
TSE:4099's Price-to-Net-Net-Working-Capital is ranked worse than 66.55% of 592
companies
in the Chemicals industry
Industry Median: 8.535
vs TSE:4099: 14.68
Shikoku Kasei Holdings (TSE:4099) 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.
Shikoku Kasei Holdings Net-Net Working Capital Related Terms
Shikoku Kasei Holdings Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Shikoku Kasei Holdings'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.
Shikoku Kasei Holdings Net-Net Working Capital Chart
TSE:4099 vs LIN, SHW, ECL: Net-Net Working Capital Comparison
For the Specialty Chemicals subindustry, Shikoku Kasei Holdings'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.
Shikoku Kasei Holdings Price-to-Net-Net-Working-Capital vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Shikoku Kasei Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Shikoku Kasei Holdings'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168.15 mean?
Shikoku Kasei Holdings (TSE:4099) has a Net-Net Working Capital of 円168.15 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 Shikoku Kasei Holdings According to the industry distribution chart, Shikoku Kasei Holdings ranks #394 out of 592 companies in the Chemicals industry, placing it in the top 66.6%.
Is Shikoku Kasei Holdings' Net-Net Working Capital too high?
Shikoku Kasei Holdings' current Net-Net Working Capital is 円168.15. Based on the distribution chart, Shikoku Kasei Holdings ranks #394 out of 592 companies in the Chemicals industry, which is below the industry midpoint. Overall, Shikoku Kasei Holdings has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Shikoku Kasei Holdings' Net-Net Working Capital compare to LIN and SHW?
According to the Chemicals industry distribution chart, Shikoku Kasei Holdings ranks #394 out of 592 companies for Net-Net Working Capital. This places Shikoku Kasei Holdings in the lower half of its industry. The industry median Net-Net Working Capital is 8.54. 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 8.54, based on 592 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 Shikoku Kasei Holdings For the Chemicals industry, the median Net-Net Working Capital is 8.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shikoku Kasei Holdings's current Net-Net Working Capital is 円168.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shikoku Kasei Holdings stock overvalued right now?
Based on GuruFocus' analysis, Shikoku Kasei Holdings (TSE:4099) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,373.87, compared to a current price of 円2,469.00 — trading 79.7% above its estimated fair value. The current Net-Net Working Capital is 円168.15. Shikoku Kasei Holdings' overall GF Score™ is 81/100. 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 Shikoku Kasei Holdings (TSE:4099), the current Net-Net Working Capital is 円168.15 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 Shikoku Kasei Holdings (TSE:4099) Overvalued in 2026?
Based on GuruFocus' analysis, Shikoku Kasei Holdings stock appears to be overvalued.
The current stock price of 円2,469.00 is trading 79.7% above its estimated GF Value™ of 円1,373.87.
GuruFocus considers Shikoku Kasei Holdings to be Significantly Overvalued.
Key valuation signals for TSE:4099:
Net-Net Working Capital: 円168.15
GF Value™: 円1,373.87 vs. price of 円2,469.00 (79.7% above fair value)
No single metric tells the full story. See the TSE:4099 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shikoku Kasei Holdings Corp is engaged in the chemicals and building material business. The chemicals are used in various things and places such as automobiles, smartphones, and pools. The building material products add color to living spaces, such as painted walls, garage front doors, and archways for public facilities.
81GF Score
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