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Cleo DiagnosticsASX:COV -10.00%14 Net Current Asset Value is A$0.06 as of Dec. 2025, which is 100% below its 10-year median of 7.10. GuruFocus rates ASX:COV with a GF Score™ of 14/100. The stock has 1 warning sign investors should review. Among 569 Medical Devices & Instruments companies, Cleo Diagnostics ranks worse than 65.03% on this metric.
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).
Cleo Diagnostics's net current asset value per share for the quarter that ended in Dec. 2025 was A$0.06.
The historical rank and industry rank for Cleo Diagnostics's Net Current Asset Value or its related term are showing as below:
ASX:COV'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 2.19 Med: 7.1 Max: 10.08
Current: 6.75
During the past 3 years, the highest Price-to-Net-Current-Asset-Value Ratio of Cleo Diagnostics was 10.08. The lowest was 2.19. And the median was 7.10.
ASX:COV's Price-to-Net-Current-Asset-Value is ranked worse than 65.03% of 569
companies
in the Medical Devices & Instruments industry
Industry Median: 4.86
vs ASX:COV: 6.75
Cleo Diagnostics (ASX:COV) 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.
Cleo Diagnostics Net Current Asset Value Related Terms
Cleo Diagnostics Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Cleo Diagnostics'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.
ASX:COV vs ABT, SYK, MDT: Net Current Asset Value Comparison
For the Medical Devices subindustry, Cleo Diagnostics'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.
Cleo Diagnostics Price-to-Net-Current-Asset-Value vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Cleo Diagnostics's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Cleo Diagnostics's Price-to-Net-Current-Asset-Value falls into.
* 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.
What does a Net Current Asset Value of A$0.06 mean?
Cleo Diagnostics (ASX:COV) has a Net Current Asset Value of A$0.06 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Cleo Diagnostics and its competitors. This is 99% below median its historical median of 7.10. Over the past decade, Cleo Diagnostics' Net Current Asset Value has ranged from 2.19 to 10.08. According to the industry distribution chart, Cleo Diagnostics ranks #370 out of 569 companies in the Medical Devices & Instruments industry, placing it in the top 65%.
Is Cleo Diagnostics' Net Current Asset Value too high?
Cleo Diagnostics' current Net Current Asset Value of A$0.06 is 99% below median its 10-year median of 7.10. Over the past 10 years, this metric has ranged from a low of 2.19 to a high of 10.08. Based on the distribution chart, Cleo Diagnostics ranks #370 out of 569 companies in the Medical Devices & Instruments industry, which is below the industry midpoint. Overall, Cleo Diagnostics has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does Cleo Diagnostics' Net Current Asset Value compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, Cleo Diagnostics ranks #370 out of 569 companies for Net Current Asset Value. This places Cleo Diagnostics in the lower half of its industry. The industry median Net Current Asset Value is 4.86. Historically, Cleo Diagnostics' own Net Current Asset Value has ranged from 2.19 to 10.08 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for a Medical Devices & Instruments company?
The median Net Current Asset Value among Medical Devices & Instruments companies is 4.86, based on 569 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Cleo Diagnostics and its competitors. For the Medical Devices & Instruments industry, the median Net Current Asset Value is 4.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cleo Diagnostics's current Net Current Asset Value is A$0.06, which is 99% below median its own 10-year median of 7.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cleo Diagnostics stock overvalued right now?
Cleo Diagnostics (ASX:COV) has a current Net Current Asset Value of A$0.06. The current Net Current Asset Value is A$0.06, which is 99% below median its 10-year median of 7.10. Cleo Diagnostics' overall GF Score™ is 14/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Cleo Diagnostics (ASX:COV), the current Net Current Asset Value is A$0.06 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Cleo Diagnostics Ltd is focused on the development of non-invasive blood-based IVD tests to detect the presence, and recurrence, of ovarian cancer. The company's first product to market is intended to be the Triage Test which results to accurately differentiate patients with malignant ovarian cancer from those with benign gynecological conditions. The company aims to improve the diagnostic process and procedures for detecting ovarian cancer and, in this regard, improve quality-of-life outcomes for patients who have been diagnosed with ovarian cancer.
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