Fisher & Paykel HealthcareASX:FPH +0.53%90 Net Current Asset Value is A$0.59 as of Mar. 2026, which is 100% below its 10-year median of 52.18. GuruFocus rates ASX:FPH with a GF Score™ of 90/100 and a GF Value™ of A$36.36 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 568 Medical Devices & Instruments companies, Fisher & Paykel Healthcare ranks worse than 95.42% 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).
Fisher & Paykel Healthcare's net current asset value per share for the quarter that ended in Mar. 2026 was A$0.59.
The historical rank and industry rank for Fisher & Paykel Healthcare's Net Current Asset Value or its related term are showing as below:
ASX:FPH'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 30.44 Med: 52.18 Max: 303.8
Current: 56.11
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Fisher & Paykel Healthcare was 303.80. The lowest was 30.44. And the median was 52.18.
ASX:FPH's Price-to-Net-Current-Asset-Value is ranked worse than 95.42% of 568
companies
in the Medical Devices & Instruments industry
Industry Median: 5
vs ASX:FPH: 56.11
Fisher & Paykel Healthcare (ASX:FPH) 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.
Fisher & Paykel Healthcare Net Current Asset Value Related Terms
Fisher & Paykel Healthcare Net Current Asset Value Historical Data
* 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.
Fisher & Paykel Healthcare Net Current Asset Value Chart
ASX:FPH vs ISRG, BDX, MDLN: Net Current Asset Value Comparison
For the Medical Instruments & Supplies subindustry, Fisher & Paykel Healthcare'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.
Fisher & Paykel Healthcare Price-to-Net-Current-Asset-Value vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Fisher & Paykel Healthcare's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Fisher & Paykel Healthcare'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$0.59 mean?
Fisher & Paykel Healthcare (ASX:FPH) has a Net Current Asset Value of A$0.59 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Fisher & Paykel Healthcare and its competitors. This is 99% below median its historical median of 52.18. Over the past decade, Fisher & Paykel Healthcare's Net Current Asset Value has ranged from 30.44 to 303.80. According to the industry distribution chart, Fisher & Paykel Healthcare ranks #542 out of 568 companies in the Medical Devices & Instruments industry, placing it in the top 95.4%.
Is Fisher & Paykel Healthcare's Net Current Asset Value too high?
Fisher & Paykel Healthcare's current Net Current Asset Value of A$0.59 is 99% below median its 10-year median of 52.18. Over the past 10 years, this metric has ranged from a low of 30.44 to a high of 303.80. Based on the distribution chart, Fisher & Paykel Healthcare ranks #542 out of 568 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Fisher & Paykel Healthcare has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fisher & Paykel Healthcare's Net Current Asset Value compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Fisher & Paykel Healthcare ranks #542 out of 568 companies for Net Current Asset Value. This places Fisher & Paykel Healthcare in the lower half of its industry. The industry median Net Current Asset Value is 5.00. Historically, Fisher & Paykel Healthcare's own Net Current Asset Value has ranged from 30.44 to 303.80 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 5.00, based on 568 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 Fisher & Paykel Healthcare and its competitors. For the Medical Devices & Instruments industry, the median Net Current Asset Value is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fisher & Paykel Healthcare's current Net Current Asset Value is A$0.59, which is 99% below median its own 10-year median of 52.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fisher & Paykel Healthcare stock overvalued right now?
Based on GuruFocus' analysis, Fisher & Paykel Healthcare (ASX:FPH) is currently considered Modestly Undervalued. The stock's GF Value™ is A$36.36, compared to a current price of A$31.98 — trading 12% below its estimated fair value. The current Net Current Asset Value is A$0.59, which is 99% below median its 10-year median of 52.18. Fisher & Paykel Healthcare's overall GF Score™ is 90/100 with 2 warning signs 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 Fisher & Paykel Healthcare (ASX:FPH), the current Net Current Asset Value is A$0.59 as of Mar. 2026. 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.
Is Fisher & Paykel Healthcare (ASX:FPH) Overvalued in 2026?
Based on GuruFocus' analysis, Fisher & Paykel Healthcare stock appears to be undervalued.
The current stock price of A$31.98 is trading 12% below its estimated GF Value™ of A$36.36.
GuruFocus considers Fisher & Paykel Healthcare to be Modestly Undervalued.
Key valuation signals for ASX:FPH:
Net Current Asset Value: A$0.59 (99% below median its 10-year median of 52.18)
GF Value™: A$36.36 vs. price of A$31.98 (12% below fair value)
No single metric tells the full story. See the ASX:FPH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fisher & Paykel Healthcare is one of the three largest respiratory care device companies globally. It is the market leader in hospital use of humidifiers, masks, and related consumables, and the number three player in the at-home treatment of sleep apnea using respiratory devices. Both the hospital and homecare markets for respiratory devices are growing strongly in the developed markets in which Fisher & Paykel has a presence. The company earns roughly half of its revenue in North America, around a quarter in Europe, and approximately a fifth in Asia-Pacific. Fisher conducts its own R&D and has thousands of patents and pending applications. It manufactures in New Zealand, Mexico, and China, and has a multichannel distribution model.
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