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).
Kinross Gold's net current asset value per share for the quarter that ended in Mar. 2026 was ARS-129.39.
The historical rank and industry rank for Kinross Gold's Net Current Asset Value or its related term are showing as below:
BUE:KGC's Price-to-Net-Current-Asset-Value is not ranked *
in the Metals & Mining industry.
Industry Median: 6.775 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Kinross Gold (BUE:KGC) 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.
Kinross Gold Net Current Asset Value Related Terms
Kinross Gold Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Kinross Gold'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.
BUE:KGC vs NEM, AU, RGLD: Net Current Asset Value Comparison
For the Gold subindustry, Kinross Gold'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.
Kinross Gold Price-to-Net-Current-Asset-Value vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Kinross Gold's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Kinross Gold'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 ARS-129.39 mean?
Kinross Gold (BUE:KGC) has a Net Current Asset Value of ARS-129.39 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 Kinross Gold and its competitors. According to the industry distribution chart, Kinross Gold ranks #999999 out of 1338 companies in the Metals & Mining industry.
Is Kinross Gold's Net Current Asset Value too high?
Kinross Gold's current Net Current Asset Value is ARS-129.39. Based on the distribution chart, Kinross Gold ranks #999999 out of 1338 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Kinross Gold has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kinross Gold's Net Current Asset Value compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Kinross Gold ranks #999999 out of 1338 companies for Net Current Asset Value. This places Kinross Gold in the lower half of its industry. The industry median Net Current Asset Value is 6.78. 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 Metals & Mining company?
The median Net Current Asset Value among Metals & Mining companies is 6.78, based on 1,338 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 Kinross Gold and its competitors. For the Metals & Mining industry, the median Net Current Asset Value is 6.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kinross Gold's current Net Current Asset Value is ARS-129.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kinross Gold stock overvalued right now?
Based on GuruFocus' analysis, Kinross Gold (BUE:KGC) is currently considered Significantly Overvalued. The stock's GF Value™ is ARS28,550.95, compared to a current price of ARS37,600.00 — trading 31.7% above its estimated fair value. The current Net Current Asset Value is ARS-129.39. Kinross Gold's overall GF Score™ is 81/100 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 Kinross Gold (BUE:KGC), the current Net Current Asset Value is ARS-129.39 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 Kinross Gold (BUE:KGC) Overvalued in 2026?
Based on GuruFocus' analysis, Kinross Gold stock appears to be overvalued.
The current stock price of ARS37,600.00 is trading 31.7% above its estimated GF Value™ of ARS28,550.95.
GuruFocus considers Kinross Gold to be Significantly Overvalued.
Key valuation signals for BUE:KGC:
Net Current Asset Value: ARS-129.39
GF Value™: ARS28,550.95 vs. price of ARS37,600.00 (31.7% above fair value)
No single metric tells the full story. See the BUE:KGC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kinross Gold is a Canada-based gold producer, producing roughly 2 million gold equivalent ounces in 2025. The company had about a decade of gold reserves at the end of 2025. It operates mines in the Americas and West Africa after selling its low-cost Russian operations in 2022 in response to the invasion of Ukraine. Kinross has historically used acquisitions to fuel expansion into new regions and production growth. In 2022, Kinross purchased the Great Bear project in Canada. If developed as we think likely, it could produce an average of more than 500,000 ounces of gold per year for at least a decade, with its unit cash costs likely in the first quartile of the industry cost curve. Though Great Bear's production is likely to be replacement ounces for falling volumes at other mines.
81GF Score
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