Nickel 28 CapitalCONXF 36 Net Current Asset Value is $-0.39 as of Apr. 2026. GuruFocus rates CONXF with a GF Score™ of 36/100. Among 1,332 Metals & Mining companies, Nickel 28 Capital ranks worse than 75075% 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).
Nickel 28 Capital's net current asset value per share for the quarter that ended in Apr. 2026 was $-0.39.
The historical rank and industry rank for Nickel 28 Capital's Net Current Asset Value or its related term are showing as below:
CONXF's Price-to-Net-Current-Asset-Value is not ranked *
in the Metals & Mining industry.
Industry Median: 6.5 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Nickel 28 Capital (OTCPK:CONXF) 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.
Nickel 28 Capital Net Current Asset Value Related Terms
Nickel 28 Capital Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Nickel 28 Capital'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.
Nickel 28 Capital Net Current Asset Value Competitor Comparison
For the Other Industrial Metals & Mining subindustry, Nickel 28 Capital'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.
Nickel 28 Capital Price-to-Net-Current-Asset-Value vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Nickel 28 Capital's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Nickel 28 Capital'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 $-0.39 mean?
Nickel 28 Capital (CONXF) has a Net Current Asset Value of $-0.39 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 Nickel 28 Capital and its competitors. According to the industry distribution chart, Nickel 28 Capital ranks #999999 out of 1332 companies in the Metals & Mining industry.
Is Nickel 28 Capital's Net Current Asset Value too high?
Nickel 28 Capital's current Net Current Asset Value is $-0.39. Based on the distribution chart, Nickel 28 Capital ranks #999999 out of 1332 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Nickel 28 Capital has a GF Score™ of 36/100, reflecting its overall financial health beyond just this single metric.
How does Nickel 28 Capital's Net Current Asset Value compare to competitors?
According to the Metals & Mining industry distribution chart, Nickel 28 Capital ranks #999999 out of 1332 companies for Net Current Asset Value. This places Nickel 28 Capital in the lower half of its industry. The industry median Net Current Asset Value is 6.50. 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 6.50, based on 1,332 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 Nickel 28 Capital and its competitors. For the Metals & Mining industry, the median Net Current Asset Value is 6.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nickel 28 Capital's current Net Current Asset Value is $-0.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nickel 28 Capital stock overvalued right now?
Nickel 28 Capital (CONXF) has a current Net Current Asset Value of $-0.39. The current Net Current Asset Value is $-0.39. Nickel 28 Capital's overall GF Score™ is 36/100. 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 Nickel 28 Capital (CONXF), the current Net Current Asset Value is $-0.39 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.
Nickel 28 Capital Corp is a base metals company offering direct exposure to nickel and cobalt. The Company holds a joint-venture interest in the producing Ramu Nickel-Cobalt Operation in Papua New Guinea and manages a portfolio of nickel and cobalt royalties in projects in Canada, Australia, and Papua New Guinea, including royalties in the Dumont nickel project in Quebec and the Turnagain nickel project in British Columbia. The Company is engaged in the management and acquisition of joint venture and royalty interests in the nickel and cobalt sectors. Its primary focus is on opportunities that could provide shareholders with near-term cash flow and royalties on production and exploration-stage nickel and/or cobalt properties. The Company operates in Canada and Asia Pacific.
36GF Score
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