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).
AXT's net current asset value per share for the quarter that ended in Dec. 2023 was $0.28.
The historical rank and industry rank for AXT's Net Current Asset Value or its related term are showing as below:
AXTI'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.1 Med: 2.76 Max: 10.61
Current: 10.36
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of AXT was 10.61. The lowest was 1.10. And the median was 2.76.
AXTI's Price-to-Net-Current-Asset-Value is ranked worse than 73.4% of 718
companies
in the Semiconductors industry
Industry Median: 5.57
vs AXTI: 10.36
AXT Net Current Asset Value Historical Data
The historical data trend for AXT'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 AXT's Net Current Asset Value
For the Semiconductor Equipment & Materials subindustry, AXT'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.
AXT's Price-to-Net-Current-Asset-Value Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, AXT's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where AXT's Price-to-Net-Current-Asset-Value falls into.
AXT Net Current Asset Value Calculation
AXT's Net Current Asset Value (NCAV) per share for the fiscal year that ended in Dec. 2023 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.
AXT (NAS:AXTI) 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.
AXT Net Current Asset Value Related Terms
Thank you for viewing the detailed overview of AXT's Net Current Asset Value provided by GuruFocus.com. Please click on the following links to see related term pages.
AXT Inc is a developer and producer of compound and single-element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. It is engaged in the design, development, manufacture, and distribution of high-performance compound semiconductor substrates and the sale of materials. The company provides alternative or specialty materials in the form of substrates or wafers, including compound and single-element substrates. Its compound substrates combine indium with phosphorous or gallium with arsenic. Geographically firm has its business presence across the region of Europe, Japan, Taiwan, China, North America, and the Asia Pacific from which China derives its maximum revenue to the company.
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