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).
Modern Times Group MTG AB's net current asset value per share for the quarter that ended in Mar. 2026 was €-4.15.
The historical rank and industry rank for Modern Times Group MTG AB'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 Modern Times Group MTG AB was 107.89. The lowest was 9.29. And the median was 24.18.
FRA:MRTA's Price-to-Net-Current-Asset-Value is not ranked *
in the Interactive Media industry.
Industry Median: 3.67 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Modern Times Group MTG AB (FRA:MRTA) 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.
Modern Times Group MTG AB Net Current Asset Value Related Terms
Modern Times Group MTG AB Net Current Asset Value Historical Data
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The historical data trend for Modern Times Group MTG AB'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.
Modern Times Group MTG AB Net Current Asset Value Chart
FRA:MRTA vs NTES, EA, TTWO: Net Current Asset Value Comparison
For the Electronic Gaming & Multimedia subindustry, Modern Times Group MTG AB'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.
Modern Times Group MTG AB Price-to-Net-Current-Asset-Value vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Modern Times Group MTG AB's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Modern Times Group MTG AB'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 €-4.15 mean?
Modern Times Group MTG AB (FRA:MRTA) has a Net Current Asset Value of €-4.15 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Modern Times Group MTG AB and its competitors. Over the past decade, Modern Times Group MTG AB's Net Current Asset Value has ranged from 9.29 to 107.89. According to the industry distribution chart, Modern Times Group MTG AB ranks #999999 out of 366 companies in the Interactive Media industry.
Is Modern Times Group MTG AB's Net Current Asset Value too high?
Modern Times Group MTG AB's current Net Current Asset Value is €-4.15. Over the past 10 years, this metric has ranged from a low of 9.29 to a high of 107.89. Based on the distribution chart, Modern Times Group MTG AB ranks #999999 out of 366 companies in the Interactive Media industry, which is in the bottom quartile relative to peers. Overall, Modern Times Group MTG AB has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Modern Times Group MTG AB's Net Current Asset Value compare to NTES and EA?
According to the Interactive Media industry distribution chart, Modern Times Group MTG AB ranks #999999 out of 366 companies for Net Current Asset Value. This places Modern Times Group MTG AB in the lower half of its industry. The industry median Net Current Asset Value is 3.67. Historically, Modern Times Group MTG AB's own Net Current Asset Value has ranged from 9.29 to 107.89 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 an Interactive Media company?
The median Net Current Asset Value among Interactive Media companies is 3.67, based on 366 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 Modern Times Group MTG AB and its competitors. For the Interactive Media industry, the median Net Current Asset Value is 3.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Modern Times Group MTG AB's current Net Current Asset Value is €-4.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Modern Times Group MTG AB stock overvalued right now?
Based on GuruFocus' analysis, Modern Times Group MTG AB (FRA:MRTA) is currently considered Modestly Undervalued. The stock's GF Value™ is €15.59, compared to a current price of €11.16 — trading 28.4% below its estimated fair value. The current Net Current Asset Value is €-4.15. Modern Times Group MTG AB's overall GF Score™ is 74/100 with 6 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 Modern Times Group MTG AB (FRA:MRTA), the current Net Current Asset Value is €-4.15 as of Mar. 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 Modern Times Group MTG AB (FRA:MRTA) Overvalued in 2026?
Based on GuruFocus' analysis, Modern Times Group MTG AB stock appears to be undervalued.
The current stock price of €11.16 is trading 28.4% below its estimated GF Value™ of €15.59.
GuruFocus considers Modern Times Group MTG AB to be Modestly Undervalued.
Key valuation signals for FRA:MRTA:
Net Current Asset Value: €-4.15
GF Value™: €15.59 vs. price of €11.16 (28.4% below fair value)
No single metric tells the full story. See the FRA:MRTA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Modern Times Group MTG AB owns and operates gaming companies and studios with popular IPs across a wide range of casual and mid-core genres. The company's portfolio covers a wide range of evergreen gaming franchises like RAID: Shadow Legends, Forge of Empires, Top Drives, and Bloons, as well as word games like CrossWord Jam and WordTrip. Its games generate revenues through in-app purchases, advertising, and from third-party distribution platforms. It operates in a single business segment.
74GF Score
Get the complete analysis for FRA:MRTA
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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