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).
American Eagle Outfitters's net current asset value per share for the quarter that ended in Apr. 2026 was €-6.11.
The historical rank and industry rank for American Eagle Outfitters's Net Current Asset Value or its related term are showing as below:
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of American Eagle Outfitters was 13.89. The lowest was 7.89. And the median was 9.30.
FRA:AFG's Price-to-Net-Current-Asset-Value is not ranked *
in the Retail - Cyclical industry.
Industry Median: 3.1 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
American Eagle Outfitters (FRA:AFG) 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.
American Eagle Outfitters Net Current Asset Value Related Terms
American Eagle Outfitters Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for American Eagle Outfitters'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.
American Eagle Outfitters Net Current Asset Value Chart
FRA:AFG vs BKE, ANF, CRI: Net Current Asset Value Comparison
For the Apparel Retail subindustry, American Eagle Outfitters'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.
American Eagle Outfitters Price-to-Net-Current-Asset-Value vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, American Eagle Outfitters's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where American Eagle Outfitters'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 €-6.11 mean?
American Eagle Outfitters (FRA:AFG) has a Net Current Asset Value of €-6.11 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 American Eagle Outfitters and its competitors. Over the past decade, American Eagle Outfitters' Net Current Asset Value has ranged from 7.89 to 13.89. According to the industry distribution chart, American Eagle Outfitters ranks #999999 out of 552 companies in the Retail - Cyclical industry.
Is American Eagle Outfitters' Net Current Asset Value too high?
American Eagle Outfitters' current Net Current Asset Value is €-6.11. Over the past 10 years, this metric has ranged from a low of 7.89 to a high of 13.89. Based on the distribution chart, American Eagle Outfitters ranks #999999 out of 552 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, American Eagle Outfitters has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does American Eagle Outfitters' Net Current Asset Value compare to BKE and ANF?
According to the Retail - Cyclical industry distribution chart, American Eagle Outfitters ranks #999999 out of 552 companies for Net Current Asset Value. This places American Eagle Outfitters in the lower half of its industry. The industry median Net Current Asset Value is 3.10. Historically, American Eagle Outfitters' own Net Current Asset Value has ranged from 7.89 to 13.89 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 Retail - Cyclical company?
The median Net Current Asset Value among Retail - Cyclical companies is 3.10, based on 552 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 American Eagle Outfitters and its competitors. For the Retail - Cyclical industry, the median Net Current Asset Value is 3.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Eagle Outfitters's current Net Current Asset Value is €-6.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is American Eagle Outfitters stock overvalued right now?
Based on GuruFocus' analysis, American Eagle Outfitters (FRA:AFG) is currently considered Modestly Undervalued. The stock's GF Value™ is €18.59, compared to a current price of €14.31 — trading 23.1% below its estimated fair value. The current Net Current Asset Value is €-6.11. American Eagle Outfitters' overall GF Score™ is 79/100 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 American Eagle Outfitters (FRA:AFG), the current Net Current Asset Value is €-6.11 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 American Eagle Outfitters (FRA:AFG) Overvalued in 2026?
Based on GuruFocus' analysis, American Eagle Outfitters stock appears to be undervalued.
The current stock price of €14.31 is trading 23.1% below its estimated GF Value™ of €18.59.
GuruFocus considers American Eagle Outfitters to be Modestly Undervalued.
Key valuation signals for FRA:AFG:
Net Current Asset Value: €-6.11
GF Value™: €18.59 vs. price of €14.31 (23.1% below fair value)
No single metric tells the full story. See the FRA:AFG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
American Eagle Outfitters Inc is a specialty retailer. The company is engaged in the retail of apparel and accessories with company stores in the United States, Canada, Mexico, and Hong Kong. The Company leases all store premises, regional distribution facilities, some of its office space, and certain information technology and office equipment. American Eagle also has its online business. It operates in two segments: American Eagle and Aerie. The majority of its revenue comes from its primary brand, American Eagle, which offers an assortment of specialty apparel, accessories, and personal care products for women and men. Geographically, it generates the majority of its revenue from the United States.
79GF Score
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