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TSA Group BhdXKLS:0297 +0.57%34 Net-Net Working Capital is RM0.09 as of Jun. 2026. GuruFocus rates XKLS:0297 with a GF Score™ of 34/100. The stock has 10 warning signs investors should review. Among 170 Steel companies, TSA Group Bhd ranks worse than 54.12% 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.
TSA Group Bhd's Net-Net Working Capital for the quarter that ended in Jun. 2026 was RM0.09.
The industry rank for TSA Group Bhd's Net-Net Working Capital or its related term are showing as below:
XKLS:0297's Price-to-Net-Net-Working-Capital is ranked worse than 54.12% of 170
companies
in the Steel industry
Industry Median: 4.58
vs XKLS:0297: 5.50
TSA Group Bhd (XKLS:0297) 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.
TSA Group Bhd Net-Net Working Capital Related Terms
TSA Group Bhd Net-Net Working Capital Historical Data
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The historical data trend for TSA Group Bhd'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.
XKLS:0297 vs NUE, STLD, RS: Net-Net Working Capital Comparison
For the Steel subindustry, TSA Group Bhd'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.
TSA Group Bhd Price-to-Net-Net-Working-Capital vs Steel Industry
For the Steel industry and Basic Materials sector, TSA Group Bhd's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where TSA Group Bhd'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 RM0.09 mean?
TSA Group Bhd (XKLS:0297) has a Net-Net Working Capital of RM0.09 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 TSA Group Bhd According to the industry distribution chart, TSA Group Bhd ranks #92 out of 170 companies in the Steel industry, placing it in the top 54.1%.
Is TSA Group Bhd's Net-Net Working Capital too high?
TSA Group Bhd's current Net-Net Working Capital is RM0.09. Based on the distribution chart, TSA Group Bhd ranks #92 out of 170 companies in the Steel industry, which is below the industry midpoint. Overall, TSA Group Bhd has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.
How does TSA Group Bhd's Net-Net Working Capital compare to NUE and STLD?
According to the Steel industry distribution chart, TSA Group Bhd ranks #92 out of 170 companies for Net-Net Working Capital. This places TSA Group Bhd 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 TSA Group Bhd 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. TSA Group Bhd's current Net-Net Working Capital is RM0.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TSA Group Bhd stock overvalued right now?
TSA Group Bhd (XKLS:0297) has a current Net-Net Working Capital of RM0.09. The current Net-Net Working Capital is RM0.09. TSA Group Bhd's overall GF Score™ is 34/100 with 10 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 TSA Group Bhd (XKLS:0297), the current Net-Net Working Capital is RM0.09 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.
TSA Group Bhd is engaged in trading, manufacturing and processing of metal products, mainly of stainless steel. It mainly trades in stainless steel plates, sheets, coils, pipes, square bars, flat bars, round bars, hexagon bars, angle bars, U-channels, chequered and perforated plates, shim and strips, wire, flanges, and pipe fittings. It also supplies products made from other metals comprising copper, aluminum, brass, bronze, lead, and carbon steel. Geographically it operates in Malaysia, Singapore, Bangladesh, Thailand, Indonesia and others, having key revenue from Malaysia.
34GF Score
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