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).
Winnebago Industries's net current asset value per share for the quarter that ended in May. 2026 was €-2.82.
The historical rank and industry rank for Winnebago Industries'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 Winnebago Industries was 129.75. The lowest was 4.09. And the median was 43.24.
FRA:WI1's Price-to-Net-Current-Asset-Value is not ranked *
in the Vehicles & Parts industry.
Industry Median: 4.75 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Winnebago Industries (FRA:WI1) 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.
Winnebago Industries Net Current Asset Value Related Terms
Winnebago Industries Net Current Asset Value Historical Data
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The historical data trend for Winnebago Industries'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.
Winnebago Industries Net Current Asset Value Chart
FRA:WI1 vs MCFT, MBUU, KNDI: Net Current Asset Value Comparison
For the Recreational Vehicles subindustry, Winnebago Industries'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.
Winnebago Industries Price-to-Net-Current-Asset-Value vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Winnebago Industries's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Winnebago Industries'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 €-2.82 mean?
Winnebago Industries (FRA:WI1) has a Net Current Asset Value of €-2.82 as of May. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Winnebago Industries and its competitors. Over the past decade, Winnebago Industries' Net Current Asset Value has ranged from 4.09 to 129.75. According to the industry distribution chart, Winnebago Industries ranks #999999 out of 707 companies in the Vehicles & Parts industry.
Is Winnebago Industries' Net Current Asset Value too high?
Winnebago Industries' current Net Current Asset Value is €-2.82. Over the past 10 years, this metric has ranged from a low of 4.09 to a high of 129.75. Based on the distribution chart, Winnebago Industries ranks #999999 out of 707 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, Winnebago Industries has a GF Score™ of 71/100, reflecting its overall financial health beyond just this single metric.
How does Winnebago Industries' Net Current Asset Value compare to MCFT and MBUU?
According to the Vehicles & Parts industry distribution chart, Winnebago Industries ranks #999999 out of 707 companies for Net Current Asset Value. This places Winnebago Industries in the lower half of its industry. The industry median Net Current Asset Value is 4.75. Historically, Winnebago Industries' own Net Current Asset Value has ranged from 4.09 to 129.75 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 Vehicles & Parts company?
The median Net Current Asset Value among Vehicles & Parts companies is 4.75, based on 707 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 Winnebago Industries and its competitors. For the Vehicles & Parts industry, the median Net Current Asset Value is 4.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Winnebago Industries's current Net Current Asset Value is €-2.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Winnebago Industries stock overvalued right now?
Winnebago Industries (FRA:WI1) has a current Net Current Asset Value of €-2.82. The stock's GF Value™ is €41.82, compared to a current price of €26.60 — trading 36.4% below its estimated fair value. The current Net Current Asset Value is €-2.82. Winnebago Industries' overall GF Score™ is 71/100 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 Winnebago Industries (FRA:WI1), the current Net Current Asset Value is €-2.82 as of May. 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 Winnebago Industries (FRA:WI1) Overvalued in 2026?
Based on GuruFocus' analysis, Winnebago Industries stock appears to be undervalued.
The current stock price of €26.60 is trading 36.4% below its estimated GF Value™ of €41.82.
Key valuation signals for FRA:WI1:
Net Current Asset Value: €-2.82
GF Value™: €41.82 vs. price of €26.60 (36.4% below fair value)
No single metric tells the full story. See the FRA:WI1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Winnebago Industries manufactures Class A, B, and C motor homes along with towables, customized specialty vehicles, boats, and parts. Headquartered in Eden Prairie, Minnesota, Winnebago has been producing recreational vehicles since 1958. Revenue was $2.8 billion in fiscal 2025. Winnebago expanded into towables in 2011 with the acquisition of SunnyBrook and acquired Grand Design in November 2016. Towables made up 84% of the firm's RV unit volume, up from 31% in fiscal 2016. The company's total fiscal 2025 RV unit volume was 36,911. Winnebago expanded into boating in 2018 with the purchase of Chris-Craft, bought premium motor home maker Newmar in November 2019, and bought Barletta pontoon boats in August 2021. It also is developing electric and autonomous technology.
71GF Score
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