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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.
Wang- Zheng Bhd's Net-Net Working Capital for the quarter that ended in Mar. 2026 was RM0.58.
The industry rank for Wang- Zheng Bhd's Net-Net Working Capital or its related term are showing as below:
XKLS:7203's Price-to-Net-Net-Working-Capital is ranked better than 90.28% of 72
companies
in the Forest Products industry
Industry Median: 4.135
vs XKLS:7203: 0.68
Wang- Zheng Bhd (XKLS:7203) 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.
Wang- Zheng Bhd Net-Net Working Capital Related Terms
Wang- Zheng Bhd Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Wang- Zheng 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.
Wang- Zheng Bhd Net-Net Working Capital Competitor Comparison
For the Paper & Paper Products subindustry, Wang- Zheng 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.
Wang- Zheng Bhd Price-to-Net-Net-Working-Capital vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Wang- Zheng Bhd's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Wang- Zheng 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 RM0.58 mean?
Wang- Zheng Bhd (XKLS:7203) has a Net-Net Working Capital of RM0.58 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 Wang- Zheng Bhd According to the industry distribution chart, Wang- Zheng Bhd ranks #7 out of 72 companies in the Forest Products industry, placing it in the top 9.7%.
Is Wang- Zheng Bhd's Net-Net Working Capital too high?
Wang- Zheng Bhd's current Net-Net Working Capital is RM0.58. Based on the distribution chart, Wang- Zheng Bhd ranks #7 out of 72 companies in the Forest Products industry, which is in the top quartile — a strong position relative to peers. Overall, Wang- Zheng Bhd has a GF Score™ of 52/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Wang- Zheng Bhd's Net-Net Working Capital compare to competitors?
According to the Forest Products industry distribution chart, Wang- Zheng Bhd ranks #7 out of 72 companies for Net-Net Working Capital. This places Wang- Zheng Bhd in the top 10% of its industry — outperforming the majority of peers. The industry median Net-Net Working Capital is 4.14. 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 Forest Products company?
The median Net-Net Working Capital among Forest Products companies is 4.14, based on 72 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 Wang- Zheng Bhd For the Forest Products industry, the median Net-Net Working Capital is 4.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Wang- Zheng Bhd's current Net-Net Working Capital is RM0.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wang- Zheng Bhd stock overvalued right now?
Based on GuruFocus' analysis, Wang- Zheng Bhd (XKLS:7203) is currently considered Significantly Undervalued. The stock's GF Value™ is RM0.57, compared to a current price of RM0.40 — trading 30.7% below its estimated fair value. The current Net-Net Working Capital is RM0.58. Wang- Zheng Bhd's overall GF Score™ is 52/100 with 3 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 Wang- Zheng Bhd (XKLS:7203), the current Net-Net Working Capital is RM0.58 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 Wang- Zheng Bhd (XKLS:7203) Overvalued in 2026?
Based on GuruFocus' analysis, Wang- Zheng Bhd stock appears to be undervalued.
The current stock price of RM0.40 is trading 30.7% below its estimated GF Value™ of RM0.57.
GuruFocus considers Wang- Zheng Bhd to be Significantly Undervalued.
Key valuation signals for XKLS:7203:
Net-Net Working Capital: RM0.58
GF Value™: RM0.57 vs. price of RM0.40 (30.7% below fair value)
No single metric tells the full story. See the XKLS:7203 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Wang- Zheng Bhd is an investment holding company. Through its subsidiaries, the company is involved in the manufacturing and processing of fiber-based products, which include disposable adult and baby diapers, sanitary protection and tissue products, cotton products, and processed papers. It has three segments, Processed Paper Products segment; which comprises of processed and distributed papers including wood-free paper and art paper; Disposable Fibre-Based products segment, which comprises of manufacture and distribution of a wide range of disposable adult and baby diapers, sanitary protection, tissue products, and cotton products; and Investment holding and others; which engages in investment holding and others. Key revenue is generated from Processed papers products segment.
52GF 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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