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Taylor Devices Net Current Asset Value

: $8.65 (As of Nov. 2020)
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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).

Taylor Devices's net current asset value per share for the quarter that ended in Nov. 2020 was $8.65.


Taylor Devices Net Current Asset Value Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Taylor Devices Annual Data
May11 May12 May13 May14 May15 May16 May17 May18 May19 May20
Net Current Asset Value Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.87 6.21 6.46 7.44 8.28

Taylor Devices Quarterly Data
Feb16 May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20
Net Current Asset Value Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.89 7.96 8.28 8.30 8.65

Competitive Comparison
* 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.


Taylor Devices Net Current Asset Value Distribution

* The bar in red indicates where Taylor Devices's Net Current Asset Value falls into.



Taylor Devices Net Current Asset Value Calculation

Taylor Devices's Net Current Asset Value (NCAV) per share for the fiscal year that ended in May. 2020 is calculated as

Net Current Asset Value Per Share(A: May. 2020 )
=(Total Current Assets-Total Liabilities-Minority Interest-Preferred Stock)/Shares Outstanding (EOP)
=(34.424-5.538-0-0)/3.48993
=8.28

Taylor Devices's Net Current Asset Value (NCAV) per share for the quarter that ended in Nov. 2020 is calculated as

Net Current Asset Value Per Share(Q: Nov. 2020 )
=(Total Current Assets-Total Liabilities-Minority Interest-Preferred Stock)/Shares Outstanding (EOP)
=(31.843-2.463-0-0)/3.396
=8.65

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Taylor Devices  (NAS:TAYD) 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 Graham’s 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. GuruFocus also publishes a monthly Net-Net newsletter.


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