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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.
eXmotion Co's Net-Net Working Capital for the quarter that ended in May. 2026 was 円230.81.
The industry rank for eXmotion Co's Net-Net Working Capital or its related term are showing as below:
TSE:4394's Price-to-Net-Net-Working-Capital is ranked better than 81.5% of 1227
companies
in the Software industry
Industry Median: 7.11
vs TSE:4394: 2.83
eXmotion Co (TSE:4394) 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.
eXmotion Co Net-Net Working Capital Related Terms
eXmotion Co Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for eXmotion 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:4394 vs IBM, ACN, CTSH: Net-Net Working Capital Comparison
For the Information Technology Services subindustry, eXmotion 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.
eXmotion Co Price-to-Net-Net-Working-Capital vs Software Industry
For the Software industry and Technology sector, eXmotion Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where eXmotion 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230.81 mean?
eXmotion Co (TSE:4394) has a Net-Net Working Capital of 円230.81 as of May. 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 eXmotion Co According to the industry distribution chart, eXmotion Co ranks #227 out of 1227 companies in the Software industry, placing it in the top 18.5%.
Is eXmotion Co's Net-Net Working Capital too high?
eXmotion Co's current Net-Net Working Capital is 円230.81. Based on the distribution chart, eXmotion Co ranks #227 out of 1227 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, eXmotion Co has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does eXmotion Co's Net-Net Working Capital compare to IBM and ACN?
According to the Software industry distribution chart, eXmotion Co ranks #227 out of 1227 companies for Net-Net Working Capital. This places eXmotion Co in the top 19% 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 eXmotion 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. eXmotion Co's current Net-Net Working Capital is 円230.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is eXmotion Co stock overvalued right now?
Based on GuruFocus' analysis, eXmotion Co (TSE:4394) is currently considered Significantly Overvalued. The stock's GF Value™ is 円497.61, compared to a current price of 円653.00 — trading 31.2% above its estimated fair value. The current Net-Net Working Capital is 円230.81. eXmotion Co's overall GF Score™ is 73/100 with 4 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 eXmotion Co (TSE:4394), the current Net-Net Working Capital is 円230.81 as of May. 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 eXmotion Co (TSE:4394) Overvalued in 2026?
Based on GuruFocus' analysis, eXmotion Co stock appears to be overvalued.
The current stock price of 円653.00 is trading 31.2% above its estimated GF Value™ of 円497.61.
GuruFocus considers eXmotion Co to be Significantly Overvalued.
Key valuation signals for TSE:4394:
Net-Net Working Capital: 円230.81
GF Value™: 円497.61 vs. price of 円653.00 (31.2% above fair value)
No single metric tells the full story. See the TSE:4394 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
eXmotion Co Ltd provides technical consulting and education services for systems and software. The company offers Consulting business, Education and human resource development business, Tool business and others.
73GF Score
Get the complete analysis for TSE:4394
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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