Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
SEMBATSE:6540 -1.03%82 Net-Net Working Capital is 円756.81 as of Dec. 2025. GuruFocus rates TSE:6540 with a GF Score™ of 82/100 and a GF Value™ of 円1,716.14 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 481 Construction companies, SEMBA ranks better than 84.41% on this metric.
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.
SEMBA's Net-Net Working Capital for the quarter that ended in Dec. 2025 was 円756.81.
The industry rank for SEMBA's Net-Net Working Capital or its related term are showing as below:
TSE:6540's Price-to-Net-Net-Working-Capital is ranked better than 84.41% of 481
companies
in the Construction industry
Industry Median: 6.62
vs TSE:6540: 2.11
SEMBA (TSE:6540) 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.
SEMBA Net-Net Working Capital Related Terms
SEMBA Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for SEMBA'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:6540 vs PWR, FIX, EME: Net-Net Working Capital Comparison
For the Engineering & Construction subindustry, SEMBA'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.
SEMBA Price-to-Net-Net-Working-Capital vs Construction Industry
For the Construction industry and Industrials sector, SEMBA's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where SEMBA'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756.81 mean?
SEMBA (TSE:6540) has a Net-Net Working Capital of 円756.81 as of Dec. 2025. 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 SEMBA According to the industry distribution chart, SEMBA ranks #75 out of 481 companies in the Construction industry, placing it in the top 15.6%.
Is SEMBA's Net-Net Working Capital too high?
SEMBA's current Net-Net Working Capital is 円756.81. Based on the distribution chart, SEMBA ranks #75 out of 481 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, SEMBA has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SEMBA's Net-Net Working Capital compare to PWR and FIX?
According to the Construction industry distribution chart, SEMBA ranks #75 out of 481 companies for Net-Net Working Capital. This places SEMBA in the top 16% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 6.62. 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 Construction company?
The median Net-Net Working Capital among Construction companies is 6.62, based on 481 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 SEMBA For the Construction industry, the median Net-Net Working Capital is 6.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SEMBA's current Net-Net Working Capital is 円756.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SEMBA stock overvalued right now?
Based on GuruFocus' analysis, SEMBA (TSE:6540) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,716.14, compared to a current price of 円1,538.00 — trading 10.4% below its estimated fair value. The current Net-Net Working Capital is 円756.81. SEMBA's overall GF Score™ is 82/100 with 3 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 SEMBA (TSE:6540), the current Net-Net Working Capital is 円756.81 as of Dec. 2025. 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 SEMBA (TSE:6540) Overvalued in 2026?
Based on GuruFocus' analysis, SEMBA stock appears to be undervalued.
The current stock price of 円1,538.00 is trading 10.4% below its estimated GF Value™ of 円1,716.14.
GuruFocus considers SEMBA to be Modestly Undervalued.
Key valuation signals for TSE:6540:
Net-Net Working Capital: 円756.81
GF Value™: 円1,716.14 vs. price of 円1,538.00 (10.4% below fair value)
No single metric tells the full story. See the TSE:6540 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SEMBA Corp provides interior construction services. The company offers administration, operation, and sales promotion for commercial space, market research, and general construction services. Semba serves customers in Japan. The Company is involved in market research and analysis, commercial facilities management and operation, sales promotion, designing, manufacturing, and selling of display tools, general construction business, and other related business activities.
82GF Score
Get the complete analysis for TSE:6540
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:6540 has been successfully added to your 
