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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).
The historical rank and industry rank for SSH Communications Security Oyj'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 SSH Communications Security Oyj was 211.00. The lowest was 7.27. And the median was 11.32.
FRA:XXH's Price-to-Net-Current-Asset-Value is not ranked *
in the Software industry.
Industry Median: 4.73 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
SSH Communications Security Oyj (FRA:XXH) 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.
SSH Communications Security Oyj Net Current Asset Value Related Terms
SSH Communications Security Oyj Net Current Asset Value Historical Data
* 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.
SSH Communications Security Oyj Net Current Asset Value Chart
FRA:XXH vs MSFT, ORCL, PLTR: Net Current Asset Value Comparison
For the Software - Infrastructure subindustry, SSH Communications Security Oyj'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.
SSH Communications Security Oyj Price-to-Net-Current-Asset-Value vs Software Industry
For the Software industry and Technology sector, SSH Communications Security Oyj's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where SSH Communications Security Oyj'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 €-0.22 mean?
SSH Communications Security Oyj (FRA:XXH) has a Net Current Asset Value of €-0.22 as of Jun. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on SSH Communications Security Oyj and its competitors. Over the past decade, SSH Communications Security Oyj's Net Current Asset Value has ranged from 7.27 to 211.00. According to the industry distribution chart, SSH Communications Security Oyj ranks #1720 out of 1760 companies in the Software industry, placing it in the top 97.7%.
Is SSH Communications Security Oyj's Net Current Asset Value too high?
SSH Communications Security Oyj's current Net Current Asset Value is €-0.22. Over the past 10 years, this metric has ranged from a low of 7.27 to a high of 211.00. Based on the distribution chart, SSH Communications Security Oyj ranks #1720 out of 1760 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, SSH Communications Security Oyj has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SSH Communications Security Oyj's Net Current Asset Value compare to MSFT and ORCL?
According to the Software industry distribution chart, SSH Communications Security Oyj ranks #1720 out of 1760 companies for Net Current Asset Value. This places SSH Communications Security Oyj in the lower half of its industry. The industry median Net Current Asset Value is 4.73. Historically, SSH Communications Security Oyj's own Net Current Asset Value has ranged from 7.27 to 211.00 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 1,760 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 SSH Communications Security Oyj 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. SSH Communications Security Oyj's current Net Current Asset Value is €-0.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SSH Communications Security Oyj stock overvalued right now?
Based on GuruFocus' analysis, SSH Communications Security Oyj (FRA:XXH) is currently considered Significantly Overvalued. The stock's GF Value™ is €1.13, compared to a current price of €1.86 — trading 65% above its estimated fair value. The current Net Current Asset Value is €-0.22. SSH Communications Security Oyj's overall GF Score™ is 64/100 with 3 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 SSH Communications Security Oyj (FRA:XXH), the current Net Current Asset Value is €-0.22 as of Jun. 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 SSH Communications Security Oyj (FRA:XXH) Overvalued in 2026?
Based on GuruFocus' analysis, SSH Communications Security Oyj stock appears to be overvalued.
The current stock price of €1.86 is trading 65% above its estimated GF Value™ of €1.13.
GuruFocus considers SSH Communications Security Oyj to be Significantly Overvalued.
Key valuation signals for FRA:XXH:
Net Current Asset Value: €-0.22
GF Value™: €1.13 vs. price of €1.86 (65% above fair value)
No single metric tells the full story. See the FRA:XXH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SSH Communications Security Oyj Business Description
SSH Communications Security Oyj is a provider of enterprise cybersecurity solutions that monitor, control, and automate trusted access to critical data. The company secures communications and access for and between humans, systems, and networks. The company provides software and professional services. The company products consist of Secure Mail, PrivX Hybrid PAM, Tectia SSH, and others. Geographically, the company provides its services to America, APAC, Europe, the Middle East and Africa (EMEA), and Finland. The company serves to customers from Finance, Retail, Industrial, Critical Infrastructure, Healthcare, and Government sectors.
64GF Score
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