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VirnetX HoldingFRA:VN20 +15.69%45 Net Current Asset Value is €2.01 as of Mar. 2026, which is 100% below its 10-year median of 2.02. GuruFocus rates FRA:VN20 with a GF Score™ of 45/100 and a GF Value™ of €82.97 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 1,758 Software companies, VirnetX Holding ranks worse than 53.92% 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).
VirnetX Holding's net current asset value per share for the quarter that ended in Mar. 2026 was €2.01.
The historical rank and industry rank for VirnetX Holding's Net Current Asset Value or its related term are showing as below:
FRA:VN20'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.31 Med: 2.02 Max: 390
Current: 5.36
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of VirnetX Holding was 390.00. The lowest was 0.31. And the median was 2.02.
FRA:VN20's Price-to-Net-Current-Asset-Value is ranked worse than 53.92% of 1758
companies
in the Software industry
Industry Median: 4.73
vs FRA:VN20: 5.36
VirnetX Holding (FRA:VN20) 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.
VirnetX Holding Net Current Asset Value Related Terms
VirnetX Holding Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for VirnetX Holding'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:VN20 vs WHEN, RMXI, MOVE: Net Current Asset Value Comparison
For the Software - Infrastructure subindustry, VirnetX Holding'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.
VirnetX Holding Price-to-Net-Current-Asset-Value vs Software Industry
For the Software industry and Technology sector, VirnetX Holding's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where VirnetX Holding'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 €2.01 mean?
VirnetX Holding (FRA:VN20) has a Net Current Asset Value of €2.01 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 VirnetX Holding and its competitors. This is near median its historical median of 2.02. Over the past decade, VirnetX Holding's Net Current Asset Value has ranged from 0.31 to 390.00. According to the industry distribution chart, VirnetX Holding ranks #948 out of 1758 companies in the Software industry, placing it in the top 53.9%.
Is VirnetX Holding's Net Current Asset Value too high?
VirnetX Holding's current Net Current Asset Value of €2.01 is near median its 10-year median of 2.02. Over the past 10 years, this metric has ranged from a low of 0.31 to a high of 390.00. Based on the distribution chart, VirnetX Holding ranks #948 out of 1758 companies in the Software industry, which is below the industry midpoint. Overall, VirnetX Holding has a GF Score™ of 45/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does VirnetX Holding's Net Current Asset Value compare to WHEN and RMXI?
According to the Software industry distribution chart, VirnetX Holding ranks #948 out of 1758 companies for Net Current Asset Value. This places VirnetX Holding in the lower half of its industry. The industry median Net Current Asset Value is 4.73. Historically, VirnetX Holding's own Net Current Asset Value has ranged from 0.31 to 390.00 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 Software company?
The median Net Current Asset Value among Software companies is 4.73, based on 1,758 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 VirnetX Holding and its competitors. For the Software industry, the median Net Current Asset Value is 4.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VirnetX Holding's current Net Current Asset Value is €2.01, which is near median its own 10-year median of 2.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VirnetX Holding stock overvalued right now?
Based on GuruFocus' analysis, VirnetX Holding (FRA:VN20) is currently considered Possible Value Trap. The stock's GF Value™ is €82.97, compared to a current price of €11.80 — trading 85.8% below its estimated fair value. The current Net Current Asset Value is €2.01, which is near median its 10-year median of 2.02. VirnetX Holding's overall GF Score™ is 45/100 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 VirnetX Holding (FRA:VN20), the current Net Current Asset Value is €2.01 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 VirnetX Holding (FRA:VN20) Overvalued in 2026?
Based on GuruFocus' analysis, VirnetX Holding stock appears to be undervalued.
The current stock price of €11.80 is trading 85.8% below its estimated GF Value™ of €82.97.
GuruFocus considers VirnetX Holding to be Possible Value Trap.
Key valuation signals for FRA:VN20:
Net Current Asset Value: €2.01 (near median its 10-year median of 2.02)
GF Value™: €82.97 vs. price of €11.80 (85.8% below fair value)
No single metric tells the full story. See the FRA:VN20 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
VirnetX Holding Corp is engaged in the business of commercializing a portfolio of patents. It is an Internet security software and technology company with patented technology for secure communications. Its software and technology solutions, including its Secure Domain Name Registry and Technology, VirnetX One, War Room, VirnetX Matrix, and GABRIEL Connection Technology, are designed to be device and location-independent, and enable a secure real-time communication environment for all types of enterprise applications, services and critical infrastructures.
45GF Score
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Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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