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Net Current Asset Value

What is the definition of NCAV?

NCAV equals the companies current assets minus its total liabilities. This gives an additional margin of safety versus book value - on this valuation measure, one is essentially paying nothing for all the fixed assets (buildings, machinery, etc0, or any goodwill items that may exist.

Stockopedia explains NCAV...

Benjamin Graham's thinking behind the net current asset value, was that he wanted to know what a company would be worth in a liquidation. NCAV values only current assets and ignores all fixed or intangible assets (buildings, machinery, goodwill etc).

Graham showed that if he could buy companies trading at a value of less than their NCAV he would essentially be getting a huge margin of safety, as the fixed and intangible assets were thrown in for free, which may or may not have senior secured loans attached to them.

We provide a 'Liquidation Value' in the margin of safety section of the Stock Report that indicates the discount/premium to NCAV.

The 5 highest NCAV Stocks in the Market

Ticker Name NCAV StockRank
LON:SMSN Samsung Electronics Co 87650192 83
LON:BC94 Samsung Electronics Co 87650192 94
KRX:5930 Samsung Electronics Co 87650192 85
KRX:5935 Samsung Electronics Co 87650192 86
KRX:12330 Hyundai Mobis Co 7409899 59
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  • Apple (AAPL)

  • Shell (RDSA)

  • Twitter (TWTR)

  • Volkswagon AG (VOK)

  • McDonalds (MCD)

  • Vodafone (VOD)

  • Barratt Homes (BDEV)

  • Microsoft (MSFT)

  • Tesco (TSCO)
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