In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Affymetrix's net current asset value per share for the quarter that ended in Dec. 2015 was $0.64.
The historical rank and industry rank for Affymetrix's Net Current Asset Value or its related term are showing as below:
AFFX's Price-to-Net-Current-Asset-Value is not ranked *
in the Medical Diagnostics & Research industry.
Industry Median: 4.29 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Affymetrix Net Current Asset Value Historical Data
The historical data trend for Affymetrix's Net Current Asset Value 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.
Competitive Comparison of Affymetrix's Net Current Asset Value
For the Diagnostics & Research subindustry, Affymetrix's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value 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.
Affymetrix's Price-to-Net-Current-Asset-Value Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Affymetrix's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Affymetrix's Price-to-Net-Current-Asset-Value falls into.
Affymetrix Net Current Asset Value Calculation
Affymetrix's Net Current Asset Value (NCAV) per share for the fiscal year that ended in Dec. 2015 is calculated as
* 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.
Affymetrix (NAS:AFFX) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. 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.
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 Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Affymetrix Net Current Asset Value Related Terms
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Affymetrix Inc was incorporated in California in 1992 and reincorporated in Delaware in 1998. The Company is a provider of life science tools and molecular diagnostic products that enable parallel analysis of biological systems at the gene, protein and cell level. It sells its products to genomic research centers, academic institutions, government and private laboratories, as well as pharmaceutical, diagnostic and biotechnology companies. The Companys operations consist of two reportable segments, Affymetrix Core and eBioscience. Affymetrix Core is divided into three business units with each business unit having its own research, development and marketing groups to better serve customers and respond quickly to the market needs. The three business units that form Affymetrix Core are; Expression, Genetic Analysis and Clinical Applications, and Life Science Reagents. Expression: This business unit develops and markets the Company's GeneChip gene expression products and services, and the QuantiGene line of low-to-mid-plex RNA measurement products; Genetic Analysis and Clinical Applications. This business unit develops and markets the Company's genotyping, such as the Axiom product line and clinical research applications, such as the CytoScan cytogenetics; Life Science Reagents; This business unit develops and sells reagents, enzymes, purification kits and biochemicals used by life science researchers. eBioscience; This reportable segment specializes in the development, manufacturing, marketing and distribution of research tools in the areas of flow cytometry, immunoassays, microscopic imaging and other protein-based analyses. The Company markets and distributes its products directly to customers in North America, Japan and major European markets. The Company is facing competition as existing companies develop new or improved products, and as companies enter the market with new technologies, such as next-generation sequencing. In the highly multiplexed genotyping and gene expression markets, existing competitive technologies include DNA sequencing, which the Company does not offer and is offered by companies such as Illumina, Inc., Life Technologies Corporation and Pacific Biosciences of California, Inc. The Companys operations are subject to complex and stringent environmental, health, safety and other governmental laws and regulations.
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