Micronics Japan CoFRA:MJ3 -3.23%84 Net Current Asset Value is €1.77 as of Dec. 2025, which is 100% below its 10-year median of 4.30. GuruFocus rates FRA:MJ3 with a GF Score™ of 84/100 and a GF Value™ of €36.12 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 719 Semiconductors companies, Micronics Japan Co ranks worse than 96.52% 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).
Micronics Japan Co's net current asset value per share for the quarter that ended in Dec. 2025 was €1.77.
The historical rank and industry rank for Micronics Japan Co's Net Current Asset Value or its related term are showing as below:
FRA:MJ3'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 2.22 Med: 4.3 Max: 112.05
Current: 108.43
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Micronics Japan Co was 112.05. The lowest was 2.22. And the median was 4.30.
FRA:MJ3's Price-to-Net-Current-Asset-Value is ranked worse than 96.52% of 719
companies
in the Semiconductors industry
Industry Median: 8.77
vs FRA:MJ3: 108.43
Micronics Japan Co (FRA:MJ3) 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.
Micronics Japan Co Net Current Asset Value Related Terms
Micronics Japan Co Net Current Asset Value Historical Data
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The historical data trend for Micronics Japan Co'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:MJ3 vs AMAT, LRCX, KLAC: Net Current Asset Value Comparison
For the Semiconductor Equipment & Materials subindustry, Micronics Japan Co'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.
Micronics Japan Co Price-to-Net-Current-Asset-Value vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Micronics Japan Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Micronics Japan Co'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 €1.77 mean?
Micronics Japan Co (FRA:MJ3) has a Net Current Asset Value of €1.77 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 Micronics Japan Co and its competitors. This is 59% below median its historical median of 4.30. Over the past decade, Micronics Japan Co's Net Current Asset Value has ranged from 2.22 to 112.05. According to the industry distribution chart, Micronics Japan Co ranks #694 out of 719 companies in the Semiconductors industry, placing it in the top 96.5%.
Is Micronics Japan Co's Net Current Asset Value too high?
Micronics Japan Co's current Net Current Asset Value of €1.77 is 59% below median its 10-year median of 4.30. Over the past 10 years, this metric has ranged from a low of 2.22 to a high of 112.05. Based on the distribution chart, Micronics Japan Co ranks #694 out of 719 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, Micronics Japan Co has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Micronics Japan Co's Net Current Asset Value compare to AMAT and LRCX?
According to the Semiconductors industry distribution chart, Micronics Japan Co ranks #694 out of 719 companies for Net Current Asset Value. This places Micronics Japan Co in the lower half of its industry. The industry median Net Current Asset Value is 8.77. Historically, Micronics Japan Co's own Net Current Asset Value has ranged from 2.22 to 112.05 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 Semiconductors company?
The median Net Current Asset Value among Semiconductors companies is 8.77, based on 719 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 Micronics Japan Co and its competitors. For the Semiconductors industry, the median Net Current Asset Value is 8.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Micronics Japan Co's current Net Current Asset Value is €1.77, which is 59% below median its own 10-year median of 4.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Micronics Japan Co stock overvalued right now?
Based on GuruFocus' analysis, Micronics Japan Co (FRA:MJ3) is currently considered Significantly Overvalued. The stock's GF Value™ is €36.12, compared to a current price of €90.00 — trading 149.2% above its estimated fair value. The current Net Current Asset Value is €1.77, which is 59% below median its 10-year median of 4.30. Micronics Japan Co's overall GF Score™ is 84/100 with 5 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 Micronics Japan Co (FRA:MJ3), the current Net Current Asset Value is €1.77 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 Micronics Japan Co (FRA:MJ3) Overvalued in 2026?
Based on GuruFocus' analysis, Micronics Japan Co stock appears to be overvalued.
The current stock price of €90.00 is trading 149.2% above its estimated GF Value™ of €36.12.
GuruFocus considers Micronics Japan Co to be Significantly Overvalued.
Key valuation signals for FRA:MJ3:
Net Current Asset Value: €1.77 (59% below median its 10-year median of 4.30)
GF Value™: €36.12 vs. price of €90.00 (149.2% above fair value)
No single metric tells the full story. See the FRA:MJ3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Micronics Japan Co Ltd is a Japanese company which is engaged in manufacturing of semiconductor and related products. It mainly produces probe cards for testing the electrical properties of wafers, testing equipment and test sockets for property testing after packaging, and a wafer prober, which is used for evaluation and analysis of devices. The company also offers products such as array probers, which are used for testing the electrical properties of flat panel displays (FDP), automated optical inspection equipment used for the display inspection of panels, and probe units that send electrical signals to test panels. Its product portfolio includes probe cards, package probe, semiconductor test equipment, automated optical inspection equipment, probe units, and FDP prober products.
84GF Score
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