Elma Electronic AGFRA:312 63 Net Current Asset Value is €77.06 as of Dec. 2025, which is 100% below its 10-year median of 8.52. GuruFocus rates FRA:312 with a GF Score™ of 63/100 and a GF Value™ of €1,224.46. The stock has 9 warning signs investors should review. Among 1,848 Hardware companies, Elma Electronic AG ranks worse than 82.74% 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).
Elma Electronic AG's net current asset value per share for the quarter that ended in Dec. 2025 was €77.06.
The historical rank and industry rank for Elma Electronic AG's Net Current Asset Value or its related term are showing as below:
FRA:312'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 4.57 Med: 8.52 Max: 18.22
Current: 18.22
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Elma Electronic AG was 18.22. The lowest was 4.57. And the median was 8.52.
FRA:312's Price-to-Net-Current-Asset-Value is ranked worse than 82.74% of 1848
companies
in the Hardware industry
Industry Median: 5.28
vs FRA:312: 18.22
Elma Electronic AG (FRA:312) 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.
Elma Electronic AG Net Current Asset Value Related Terms
Elma Electronic AG Net Current Asset Value Historical Data
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The historical data trend for Elma Electronic AG'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:312 vs SNDK, DELL, STX: Net Current Asset Value Comparison
For the Computer Hardware subindustry, Elma Electronic AG'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.
Elma Electronic AG Price-to-Net-Current-Asset-Value vs Hardware Industry
For the Hardware industry and Technology sector, Elma Electronic AG's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Elma Electronic AG'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 €77.06 mean?
Elma Electronic AG (FRA:312) has a Net Current Asset Value of €77.06 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 Elma Electronic AG and its competitors. This is 804% above median its historical median of 8.52. Over the past decade, Elma Electronic AG's Net Current Asset Value has ranged from 4.57 to 18.22. According to the industry distribution chart, Elma Electronic AG ranks #1529 out of 1848 companies in the Hardware industry, placing it in the top 82.7%.
Is Elma Electronic AG's Net Current Asset Value too high?
Elma Electronic AG's current Net Current Asset Value of €77.06 is 804% above median its 10-year median of 8.52. Over the past 10 years, this metric has ranged from a low of 4.57 to a high of 18.22. Based on the distribution chart, Elma Electronic AG ranks #1529 out of 1848 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Elma Electronic AG has a GF Score™ of 63/100, reflecting its overall financial health beyond just this single metric.
How does Elma Electronic AG's Net Current Asset Value compare to SNDK and DELL?
According to the Hardware industry distribution chart, Elma Electronic AG ranks #1529 out of 1848 companies for Net Current Asset Value. This places Elma Electronic AG in the lower half of its industry. The industry median Net Current Asset Value is 5.28. Historically, Elma Electronic AG's own Net Current Asset Value has ranged from 4.57 to 18.22 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 Hardware company?
The median Net Current Asset Value among Hardware companies is 5.28, based on 1,848 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 Elma Electronic AG and its competitors. For the Hardware industry, the median Net Current Asset Value is 5.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Elma Electronic AG's current Net Current Asset Value is €77.06, which is 804% above median its own 10-year median of 8.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Elma Electronic AG stock overvalued right now?
Elma Electronic AG (FRA:312) has a current Net Current Asset Value of €77.06. The stock's GF Value™ is €1,224.46, compared to a current price of €1,420.00 — trading 16% above its estimated fair value. The current Net Current Asset Value is €77.06, which is 804% above median its 10-year median of 8.52. Elma Electronic AG's overall GF Score™ is 63/100 with 9 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 Elma Electronic AG (FRA:312), the current Net Current Asset Value is €77.06 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 Elma Electronic AG (FRA:312) Overvalued in 2026?
Based on GuruFocus' analysis, Elma Electronic AG stock appears to be overvalued.
The current stock price of €1,420.00 is trading 16% above its estimated GF Value™ of €1,224.46.
Key valuation signals for FRA:312:
Net Current Asset Value: €77.06 (804% above median its 10-year median of 8.52)
GF Value™: €1,224.46 vs. price of €1,420.00 (16% above fair value)
No single metric tells the full story. See the FRA:312 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Elma Electronic AG is a Switzerland-based company. It acts as a manufacturer of electronic packaging products for the embedded systems market from components, backplanes, storage boards and chassis platforms to fully integrated systems. The product line of the company includes embedded boards such as mass storage, ethernet and PCIe switches, architecture solutions, embedded computing systems, system accessories, and rack level services. It also offers engineering services, contract manufacturing, system integration, customization and other services.
63GF Score
Get the complete analysis for FRA:312
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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