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Butler NationalBUKS -3.42%72 Net Current Asset Value is $0.12 as of Apr. 2026, which is 99% below its 10-year median of 13.33. GuruFocus rates BUKS with a GF Score™ of 72/100 and a GF Value™ of $1.87 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 199 Aerospace & Defense companies, Butler National ranks worse than 90.95% 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).
Butler National's net current asset value per share for the quarter that ended in Apr. 2026 was $0.12.
The historical rank and industry rank for Butler National's Net Current Asset Value or its related term are showing as below:
BUKS'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 12.5 Med: 13.33 Max: 41.58
Current: 40
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Butler National was 41.58. The lowest was 12.50. And the median was 13.33.
BUKS's Price-to-Net-Current-Asset-Value is ranked worse than 90.95% of 199
companies
in the Aerospace & Defense industry
Industry Median: 7.63
vs BUKS: 40.00
Butler National (OTCPK:BUKS) 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.
Butler National Net Current Asset Value Related Terms
Butler National Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Butler National'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.
BUKS vs SPCE, MRLN, ISSC: Net Current Asset Value Comparison
For the Aerospace & Defense subindustry, Butler National'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.
Butler National Price-to-Net-Current-Asset-Value vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Butler National's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Butler National'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 $0.12 mean?
Butler National (BUKS) has a Net Current Asset Value of $0.12 as of Apr. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Butler National and its competitors. This is 99% below median its historical median of 13.33. Over the past decade, Butler National's Net Current Asset Value has ranged from 12.50 to 41.58. According to the industry distribution chart, Butler National ranks #181 out of 199 companies in the Aerospace & Defense industry, placing it in the top 91%.
Is Butler National's Net Current Asset Value too high?
Butler National's current Net Current Asset Value of $0.12 is 99% below median its 10-year median of 13.33. Over the past 10 years, this metric has ranged from a low of 12.50 to a high of 41.58. The Aerospace & Defense industry median Net Current Asset Value is 7.63. Butler National's value of $0.12 is 98.4% below this industry median. Based on the distribution chart, Butler National ranks #181 out of 199 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Butler National has a GF Score™ of 72/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Butler National's Net Current Asset Value compare to SPCE and MRLN?
According to the Aerospace & Defense industry distribution chart, Butler National ranks #181 out of 199 companies for Net Current Asset Value. This places Butler National in the lower half of its industry. The industry median Net Current Asset Value is 7.63. Butler National's value of $0.12 is 98.4% below this benchmark. Historically, Butler National's own Net Current Asset Value has ranged from 12.50 to 41.58 over the past decade. While the company's 10-year median is 13.33 vs. the industry median of 7.63, Butler National has consistently been below the industry average. 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 an Aerospace & Defense company?
The median Net Current Asset Value among Aerospace & Defense companies is 7.63, based on 199 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. Butler National's current Net Current Asset Value of $0.12 is 98.4% below the industry median. 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 Butler National and its competitors. For the Aerospace & Defense industry, the median Net Current Asset Value is 7.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Butler National's current Net Current Asset Value is $0.12, which is 99% below median its own 10-year median of 13.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Butler National stock overvalued right now?
Based on GuruFocus' analysis, Butler National (BUKS) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.87, compared to a current price of $4.80 — trading 156.7% above its estimated fair value. The current Net Current Asset Value is $0.12, which is 99% below median its 10-year median of 13.33 and 98.4% below the Aerospace & Defense industry median of 7.63. Butler National's overall GF Score™ is 72/100 with 4 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 Butler National (BUKS), the current Net Current Asset Value is $0.12 as of Apr. 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 Butler National (BUKS) Overvalued in 2026?
Based on GuruFocus' analysis, Butler National stock appears to be overvalued.
The current stock price of $4.80 is trading 156.7% above its estimated GF Value™ of $1.87.
GuruFocus considers Butler National to be Significantly Overvalued.
Key valuation signals for BUKS:
Net Current Asset Value: $0.12 (99% below median its 10-year median of 13.33)
GF Value™: $1.87 vs. price of $4.80 (156.7% above fair value)
Industry Position: 98.4% below the Aerospace & Defense median (#181 of 199)
No single metric tells the full story. See the BUKS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Butler National Corp is involved in the design, engineering, manufacturing, selling, integrating, installing, repairing, modifying, overhauling, servicing, and distributing portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems (Aerospace Products). The group serves the aviation industry, including owners of aircraft and contractors involved with private, commercial, business, and government aircraft operations. It also serves commercial weapon manufacturers and suppliers to governments and their agencies. The company has two operating segments: Professional Services and Aerospace Products. Its main source of revenue comes from the Aerospace Products segment. It operates in North America, Europe, Asia, Australia, and other geographical regions.
72GF Score
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