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Zaoh CoTSE:9986 -0.16%80 Net-Net Working Capital is 円1,332.51 as of Mar. 2026. GuruFocus rates TSE:9986 with a GF Score™ of 80/100 and a GF Value™ of 円2,388.30 (Fairly Valued). The stock has 4 warning signs investors should review. Among 56 Industrial Distribution companies, Zaoh Co ranks better than 85.71% 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.
Zaoh Co's Net-Net Working Capital for the quarter that ended in Mar. 2026 was 円1,332.51.
The industry rank for Zaoh Co's Net-Net Working Capital or its related term are showing as below:
TSE:9986's Price-to-Net-Net-Working-Capital is ranked better than 85.71% of 56
companies
in the Industrial Distribution industry
Industry Median: 7.055
vs TSE:9986: 1.87
Zaoh Co (TSE:9986) 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.
Zaoh Co Net-Net Working Capital Related Terms
Zaoh Co Net-Net Working Capital Historical Data
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The historical data trend for Zaoh 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:9986 vs GWW, FAST, FERG: Net-Net Working Capital Comparison
For the Industrial Distribution subindustry, Zaoh 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.
Zaoh Co Price-to-Net-Net-Working-Capital vs Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, Zaoh Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Zaoh 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1,332.51 mean?
Zaoh Co (TSE:9986) has a Net-Net Working Capital of 円1,332.51 as of Mar. 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 Zaoh Co According to the industry distribution chart, Zaoh Co ranks #8 out of 56 companies in the Industrial Distribution industry, placing it in the top 14.3%.
Is Zaoh Co's Net-Net Working Capital too high?
Zaoh Co's current Net-Net Working Capital is 円1,332.51. Based on the distribution chart, Zaoh Co ranks #8 out of 56 companies in the Industrial Distribution industry, which is in the top quartile — a strong position relative to peers. Overall, Zaoh Co has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Zaoh Co's Net-Net Working Capital compare to GWW and FAST?
According to the Industrial Distribution industry distribution chart, Zaoh Co ranks #8 out of 56 companies for Net-Net Working Capital. This places Zaoh Co in the top 14% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 7.06. 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 Distribution company?
The median Net-Net Working Capital among Industrial Distribution companies is 7.06, based on 56 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 Zaoh Co For the Industrial Distribution industry, the median Net-Net Working Capital is 7.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zaoh Co's current Net-Net Working Capital is 円1,332.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zaoh Co stock overvalued right now?
Based on GuruFocus' analysis, Zaoh Co (TSE:9986) is currently considered Fairly Valued. The stock's GF Value™ is 円2,388.30, compared to a current price of 円2,486.00 — trading 4.1% above its estimated fair value. The current Net-Net Working Capital is 円1,332.51. Zaoh Co's overall GF Score™ is 80/100 with 4 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 Zaoh Co (TSE:9986), the current Net-Net Working Capital is 円1,332.51 as of Mar. 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 Zaoh Co (TSE:9986) Overvalued in 2026?
Based on GuruFocus' analysis, Zaoh Co stock appears to be overvalued.
The current stock price of 円2,486.00 is trading 4.1% above its estimated GF Value™ of 円2,388.30.
GuruFocus considers Zaoh Co to be Fairly Valued.
Key valuation signals for TSE:9986:
Net-Net Working Capital: 円1,332.51
GF Value™: 円2,388.30 vs. price of 円2,486.00 (4.1% above fair value)
No single metric tells the full story. See the TSE:9986 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zaoh Co Ltd is engaged in the business of dealing with industrial and professional cleaning equipment. Its main business activity is to import cleaning and washing equipment for commercial, industrial, and consumer use from various manufacturers, mainly in Europe, the United States, and China, and to sell them throughout Japan. The company's product portfolio comprises power sweepers, vacuum cleaners, carpet cleaners, ironized water generators, water purifiers, steam cleaners, etc.
80GF Score
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