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).
Rautaruukki Oyj's net current asset value per share for the quarter that ended in Sep. 2014 was €-2.29.
The historical rank and industry rank for Rautaruukki Oyj's Net Current Asset Value or its related term are showing as below:
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Rautaruukki Oyj was 33.93. The lowest was 0.00. And the median was 33.93.
OHEL:RTRKS's Price-to-Net-Current-Asset-Value is not ranked *
in the Steel industry.
Industry Median: 3.04 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Rautaruukki Oyj Net Current Asset Value Historical Data
The historical data trend for Rautaruukki Oyj'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 Rautaruukki Oyj's Net Current Asset Value
For the Steel subindustry, Rautaruukki Oyj'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.
Rautaruukki Oyj's Price-to-Net-Current-Asset-Value Distribution in the Steel Industry
For the Steel industry and Basic Materials sector, Rautaruukki Oyj's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Rautaruukki Oyj's Price-to-Net-Current-Asset-Value falls into.
Rautaruukki Oyj Net Current Asset Value Calculation
Rautaruukki Oyj's Net Current Asset Value (NCAV) per share for the fiscal year that ended in Dec. 2013 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.
Rautaruukki Oyj (OHEL:RTRKS) 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.
Rautaruukki Oyj Net Current Asset Value Related Terms
Thank you for viewing the detailed overview of Rautaruukki Oyj's Net Current Asset Value provided by GuruFocus.com. Please click on the following links to see related term pages.
Rautaruukki Oyj supplies metal-based components, systems and integrated systems to construction and the engineering industry. The company's operations are structured into three divisions: construction, engineering, and steel business. Its construction division supplies steel construction solutions for commercial and industrial construction, as well as for infrastructure foundation and transport infrastructure projects. The divisions' product portfolio includes building frames, wall and roofing products, integrated systems for single and multi-story construction, bridges, traffic noise barriers and highway guard rails, piles, retaining wall structures and foundations for harbor construction. Its customers include developers, designs and builders of commercial, industrial and office premises, logistics and sports complexes and infrastructure services as well as roofing suppliers. Its engineering division supplies systems and components to the engineering industry, such as cabins, booms, masts and frames for goods and container handling, the construction industry and mining and forestry, telescopic booms, frames and parts; windmill components and oil sumps. Main markets serve international European companies, specifically the lifting, handling, and transportation equipment industry, the energy industry, the marine and offshore industry and the paper and wood industry. The Metals division supplies steel products associated with prefabrication, logistics and storage services. The division's product portfolio consists of hot and cold-rolled steels, metal and color-coated steels, tubes and profiles and stainless steel and aluminum sold as trading products. Its customers include the transportation equipment, construction, engineering and electronics industries in Europe and Russia.
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