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Zero CoTSE:9028 +0.71%92 Net-Net Working Capital is 円269.69 as of Jun. 2026. GuruFocus rates TSE:9028 with a GF Score™ of 92/100 and a GF Value™ of 円2,588.56 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 374 Vehicles & Parts companies, Zero Co ranks worse than 83.42% 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.
Zero Co's Net-Net Working Capital for the quarter that ended in Jun. 2026 was 円269.69.
The industry rank for Zero Co's Net-Net Working Capital or its related term are showing as below:
TSE:9028's Price-to-Net-Net-Working-Capital is ranked worse than 83.42% of 374
companies
in the Vehicles & Parts industry
Industry Median: 7.875
vs TSE:9028: 30.58
Zero Co (TSE:9028) 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.
Zero Co Net-Net Working Capital Related Terms
Zero Co Net-Net Working Capital Historical Data
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The historical data trend for Zero 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:9028 vs CVNA, PAG, KMX: Net-Net Working Capital Comparison
For the Auto & Truck Dealerships subindustry, Zero 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.
Zero Co Price-to-Net-Net-Working-Capital vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Zero Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Zero 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269.69 mean?
Zero Co (TSE:9028) has a Net-Net Working Capital of 円269.69 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 Zero Co According to the industry distribution chart, Zero Co ranks #312 out of 374 companies in the Vehicles & Parts industry, placing it in the top 83.4%.
Is Zero Co's Net-Net Working Capital too high?
Zero Co's current Net-Net Working Capital is 円269.69. Based on the distribution chart, Zero Co ranks #312 out of 374 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, Zero Co has a GF Score™ of 92/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Zero Co's Net-Net Working Capital compare to CVNA and PAG?
According to the Vehicles & Parts industry distribution chart, Zero Co ranks #312 out of 374 companies for Net-Net Working Capital. This places Zero Co in the lower half of its industry. The industry median Net-Net Working Capital is 7.88. 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 Vehicles & Parts company?
The median Net-Net Working Capital among Vehicles & Parts companies is 7.88, based on 374 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 Zero Co For the Vehicles & Parts industry, the median Net-Net Working Capital is 7.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zero Co's current Net-Net Working Capital is 円269.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zero Co stock overvalued right now?
Based on GuruFocus' analysis, Zero Co (TSE:9028) is currently considered Significantly Overvalued. The stock's GF Value™ is 円2,588.56, compared to a current price of 円3,540.00 — trading 36.8% above its estimated fair value. The current Net-Net Working Capital is 円269.69. Zero Co's overall GF Score™ is 92/100 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 Zero Co (TSE:9028), the current Net-Net Working Capital is 円269.69 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 Zero Co (TSE:9028) Overvalued in 2026?
Based on GuruFocus' analysis, Zero Co stock appears to be overvalued.
The current stock price of 円3,540.00 is trading 36.8% above its estimated GF Value™ of 円2,588.56.
GuruFocus considers Zero Co to be Significantly Overvalued.
Key valuation signals for TSE:9028:
Net-Net Working Capital: 円269.69
GF Value™: 円2,588.56 vs. price of 円3,540.00 (36.8% above fair value)
No single metric tells the full story. See the TSE:9028 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zero Co Ltd provides transportation services including new and used vehicle transportation, door-to-door transportation of private cars and motorbikes, new and heavy vehicle maintenance, handling and vehicle inspection at the auto auction.
92GF Score
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