Coles GroupFRA:2OF 73 Net Current Asset Value is €-5.17 as of Dec. 2025. GuruFocus rates FRA:2OF with a GF Score™ of 73/100 and a GF Value™ of €11.93 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 132 Retail - Defensive companies, Coles Group ranks worse than 757575% 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).
Coles Group's net current asset value per share for the quarter that ended in Dec. 2025 was €-5.17.
The historical rank and industry rank for Coles Group's Net Current Asset Value or its related term are showing as below:
FRA:2OF's Price-to-Net-Current-Asset-Value is not ranked *
in the Retail - Defensive industry.
Industry Median: 3.24 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Coles Group (FRA:2OF) 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.
Coles Group Net Current Asset Value Related Terms
Coles Group Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Coles Group'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.
FRA:2OF vs KR, SFM, ACI: Net Current Asset Value Comparison
For the Grocery Stores subindustry, Coles Group'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.
Coles Group Price-to-Net-Current-Asset-Value vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Coles Group's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Coles Group'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 €-5.17 mean?
Coles Group (FRA:2OF) has a Net Current Asset Value of €-5.17 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 Coles Group and its competitors. According to the industry distribution chart, Coles Group ranks #999999 out of 132 companies in the Retail - Defensive industry.
Is Coles Group's Net Current Asset Value too high?
Coles Group's current Net Current Asset Value is €-5.17. Based on the distribution chart, Coles Group ranks #999999 out of 132 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, Coles Group has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Coles Group's Net Current Asset Value compare to KR and SFM?
According to the Retail - Defensive industry distribution chart, Coles Group ranks #999999 out of 132 companies for Net Current Asset Value. This places Coles Group in the lower half of its industry. The industry median Net Current Asset Value is 3.24. 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 Retail - Defensive company?
The median Net Current Asset Value among Retail - Defensive companies is 3.24, based on 132 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 Coles Group and its competitors. For the Retail - Defensive industry, the median Net Current Asset Value is 3.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Coles Group's current Net Current Asset Value is €-5.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Coles Group stock overvalued right now?
Based on GuruFocus' analysis, Coles Group (FRA:2OF) is currently considered Modestly Overvalued. The stock's GF Value™ is €11.93, compared to a current price of €14.50 — trading 21.5% above its estimated fair value. The current Net Current Asset Value is €-5.17. Coles Group's overall GF Score™ is 73/100 with 8 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 Coles Group (FRA:2OF), the current Net Current Asset Value is €-5.17 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.
Is Coles Group (FRA:2OF) Overvalued in 2026?
Based on GuruFocus' analysis, Coles Group stock appears to be overvalued.
The current stock price of €14.50 is trading 21.5% above its estimated GF Value™ of €11.93.
GuruFocus considers Coles Group to be Modestly Overvalued.
Key valuation signals for FRA:2OF:
Net Current Asset Value: €-5.17
GF Value™: €11.93 vs. price of €14.50 (21.5% above fair value)
No single metric tells the full story. See the FRA:2OF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Coles is one of Australia's largest retailers, operating the second-largest supermarket chain behind market leader Woolworths, and the country's second-largest liquor chain. The group has an extensive store network of over 1,800 stores and roughly 80% of Australians live within a 10-minute drive from a Coles store. The retailer employs some 120,000 people, who process some 20 million individual customer transactions a week. This compares with Woolworths processing about 30 million customer transactions per week from Australia's population of 27 million.
73GF Score
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