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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.
Tomoe Engineering Co's Net-Net Working Capital for the quarter that ended in Apr. 2026 was 円494.83.
The industry rank for Tomoe Engineering Co's Net-Net Working Capital or its related term are showing as below:
TSE:6309's Price-to-Net-Net-Working-Capital is ranked better than 73.17% of 1312
companies
in the Industrial Products industry
Industry Median: 7.94
vs TSE:6309: 4.05
Tomoe Engineering Co (TSE:6309) 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.
Tomoe Engineering Co Net-Net Working Capital Related Terms
Tomoe Engineering Co Net-Net Working Capital Historical Data
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The historical data trend for Tomoe Engineering 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.
Tomoe Engineering Co Net-Net Working Capital Chart
TSE:6309 vs GEV, ETN, PH: Net-Net Working Capital Comparison
For the Specialty Industrial Machinery subindustry, Tomoe Engineering 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.
Tomoe Engineering Co Price-to-Net-Net-Working-Capital vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Tomoe Engineering Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Tomoe Engineering 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494.83 mean?
Tomoe Engineering Co (TSE:6309) has a Net-Net Working Capital of 円494.83 as of Apr. 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 Tomoe Engineering Co According to the industry distribution chart, Tomoe Engineering Co ranks #352 out of 1312 companies in the Industrial Products industry, placing it in the top 26.8%.
Is Tomoe Engineering Co's Net-Net Working Capital too high?
Tomoe Engineering Co's current Net-Net Working Capital is 円494.83. Based on the distribution chart, Tomoe Engineering Co ranks #352 out of 1312 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Tomoe Engineering Co has a GF Score™ of 86/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tomoe Engineering Co's Net-Net Working Capital compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Tomoe Engineering Co ranks #352 out of 1312 companies for Net-Net Working Capital. This puts Tomoe Engineering Co in the upper half of its industry. The industry median Net-Net Working Capital is 7.94. 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 an Industrial Products company?
The median Net-Net Working Capital among Industrial Products companies is 7.94, based on 1,312 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 Tomoe Engineering Co For the Industrial Products industry, the median Net-Net Working Capital is 7.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tomoe Engineering Co's current Net-Net Working Capital is 円494.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tomoe Engineering Co stock overvalued right now?
Based on GuruFocus' analysis, Tomoe Engineering Co (TSE:6309) is currently considered Modestly Overvalued. The stock's GF Value™ is 円1,683.60, compared to a current price of 円2,002.00 — trading 18.9% above its estimated fair value. The current Net-Net Working Capital is 円494.83. Tomoe Engineering Co's overall GF Score™ is 86/100 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 Tomoe Engineering Co (TSE:6309), the current Net-Net Working Capital is 円494.83 as of Apr. 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 Tomoe Engineering Co (TSE:6309) Overvalued in 2026?
Based on GuruFocus' analysis, Tomoe Engineering Co stock appears to be overvalued.
The current stock price of 円2,002.00 is trading 18.9% above its estimated GF Value™ of 円1,683.60.
GuruFocus considers Tomoe Engineering Co to be Modestly Overvalued.
Key valuation signals for TSE:6309:
Net-Net Working Capital: 円494.83
GF Value™: 円1,683.60 vs. price of 円2,002.00 (18.9% above fair value)
No single metric tells the full story. See the TSE:6309 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tomoe Engineering Co Ltd is engaged in the manufacture and sale of centrifuges and the supply of chemical industrial products. Its product portfolio comprises centrifugal separators for applications in different industries, including wastewater and sludge treatment, food, animal feed, energy, biology, chemicals, and others. In addition, the group offers different industrial chemical products such as synthetic resins, alumina hydrate, electrode paste, UV curing resins, zirconia, silica fume, etc. The group's reportable segments are Chemical industrial product sales business, which generates maximum revenue, and the Machinery manufacturing and sales business.
86GF Score
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