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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.
Tamagawa Holdings Co's Net-Net Working Capital for the quarter that ended in Apr. 2026 was 円27.03.
The industry rank for Tamagawa Holdings Co's Net-Net Working Capital or its related term are showing as below:
TSE:6838's Price-to-Net-Net-Working-Capital is ranked worse than 92.31% of 104
companies
in the Conglomerates industry
Industry Median: 5.71
vs TSE:6838: 54.68
Tamagawa Holdings Co (TSE:6838) 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.
Tamagawa Holdings Co Net-Net Working Capital Related Terms
Tamagawa Holdings Co Net-Net Working Capital Historical Data
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The historical data trend for Tamagawa Holdings 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.
Tamagawa Holdings Co Net-Net Working Capital Chart
TSE:6838 vs MMM, HON: Net-Net Working Capital Comparison
For the Conglomerates subindustry, Tamagawa Holdings 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.
Tamagawa Holdings Co Price-to-Net-Net-Working-Capital vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Tamagawa Holdings Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Tamagawa Holdings 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27.03 mean?
Tamagawa Holdings Co (TSE:6838) has a Net-Net Working Capital of 円27.03 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 Tamagawa Holdings Co According to the industry distribution chart, Tamagawa Holdings Co ranks #96 out of 104 companies in the Conglomerates industry, placing it in the top 92.3%.
Is Tamagawa Holdings Co's Net-Net Working Capital too high?
Tamagawa Holdings Co's current Net-Net Working Capital is 円27.03. Based on the distribution chart, Tamagawa Holdings Co ranks #96 out of 104 companies in the Conglomerates industry, which is in the bottom quartile relative to peers. Overall, Tamagawa Holdings Co has a GF Score™ of 54/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tamagawa Holdings Co's Net-Net Working Capital compare to MMM and HON?
According to the Conglomerates industry distribution chart, Tamagawa Holdings Co ranks #96 out of 104 companies for Net-Net Working Capital. This places Tamagawa Holdings Co in the lower half of its industry. The industry median Net-Net Working Capital is 5.71. 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 Conglomerates company?
The median Net-Net Working Capital among Conglomerates companies is 5.71, based on 104 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 Tamagawa Holdings Co For the Conglomerates industry, the median Net-Net Working Capital is 5.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tamagawa Holdings Co's current Net-Net Working Capital is 円27.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tamagawa Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Tamagawa Holdings Co (TSE:6838) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,070.53, compared to a current price of 円1,478.00 — trading 38.1% above its estimated fair value. The current Net-Net Working Capital is 円27.03. Tamagawa Holdings Co's overall GF Score™ is 54/100 with 5 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 Tamagawa Holdings Co (TSE:6838), the current Net-Net Working Capital is 円27.03 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 Tamagawa Holdings Co (TSE:6838) Overvalued in 2026?
Based on GuruFocus' analysis, Tamagawa Holdings Co stock appears to be overvalued.
The current stock price of 円1,478.00 is trading 38.1% above its estimated GF Value™ of 円1,070.53.
GuruFocus considers Tamagawa Holdings Co to be Significantly Overvalued.
Key valuation signals for TSE:6838:
Net-Net Working Capital: 円27.03
GF Value™: 円1,070.53 vs. price of 円1,478.00 (38.1% above fair value)
No single metric tells the full story. See the TSE:6838 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tamagawa Holdings Co Ltd manufactures and sells electronics and telecommunications equipment. Its products include wireless equipment components such as amplifiers, attenuators, filters, distributors and frequency synthesizers. It is also operates in solar power stations including mega solar and geothermal power generation plant.
54GF Score
Get the complete analysis for TSE:6838
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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