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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.
Hatsuho Shouji Co's Net-Net Working Capital for the quarter that ended in Jun. 2026 was 円55.80.
The industry rank for Hatsuho Shouji Co's Net-Net Working Capital or its related term are showing as below:
TSE:7425's Price-to-Net-Net-Working-Capital is ranked worse than 82.35% of 170
companies
in the Steel industry
Industry Median: 4.575
vs TSE:7425: 20.07
Hatsuho Shouji Co (TSE:7425) 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.
Hatsuho Shouji Co Net-Net Working Capital Related Terms
Hatsuho Shouji Co Net-Net Working Capital Historical Data
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The historical data trend for Hatsuho Shouji 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:7425 vs NUE, STLD, RS: Net-Net Working Capital Comparison
For the Steel subindustry, Hatsuho Shouji 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.
Hatsuho Shouji Co Price-to-Net-Net-Working-Capital vs Steel Industry
For the Steel industry and Basic Materials sector, Hatsuho Shouji Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Hatsuho Shouji 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55.80 mean?
Hatsuho Shouji Co (TSE:7425) has a Net-Net Working Capital of 円55.80 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 Hatsuho Shouji Co According to the industry distribution chart, Hatsuho Shouji Co ranks #140 out of 170 companies in the Steel industry, placing it in the top 82.4%.
Is Hatsuho Shouji Co's Net-Net Working Capital too high?
Hatsuho Shouji Co's current Net-Net Working Capital is 円55.80. Based on the distribution chart, Hatsuho Shouji Co ranks #140 out of 170 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Hatsuho Shouji Co has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hatsuho Shouji Co's Net-Net Working Capital compare to NUE and STLD?
According to the Steel industry distribution chart, Hatsuho Shouji Co ranks #140 out of 170 companies for Net-Net Working Capital. This places Hatsuho Shouji Co in the lower half of its industry. The industry median Net-Net Working Capital is 4.58. 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 Steel company?
The median Net-Net Working Capital among Steel companies is 4.58, based on 170 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 Hatsuho Shouji Co For the Steel industry, the median Net-Net Working Capital is 4.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hatsuho Shouji Co's current Net-Net Working Capital is 円55.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hatsuho Shouji Co stock overvalued right now?
Based on GuruFocus' analysis, Hatsuho Shouji Co (TSE:7425) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,399.38, compared to a current price of 円1,120.00 — trading 20% below its estimated fair value. The current Net-Net Working Capital is 円55.80. Hatsuho Shouji Co's overall GF Score™ is 81/100 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 Hatsuho Shouji Co (TSE:7425), the current Net-Net Working Capital is 円55.80 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 Hatsuho Shouji Co (TSE:7425) Overvalued in 2026?
Based on GuruFocus' analysis, Hatsuho Shouji Co stock appears to be undervalued.
The current stock price of 円1,120.00 is trading 20% below its estimated GF Value™ of 円1,399.38.
GuruFocus considers Hatsuho Shouji Co to be Modestly Undervalued.
Key valuation signals for TSE:7425:
Net-Net Working Capital: 円55.80
GF Value™: 円1,399.38 vs. price of 円1,120.00 (20% below fair value)
No single metric tells the full story. See the TSE:7425 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hatsuho Shouji Co Ltd is a Japan-based company engages in the sale of secondary steel products and non-ferrous metals. Its products include light-weight steel frames, wire mesh for concrete, sheet rock, car ports, and other construction materials.
81GF Score
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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