Highwater Ethanol LLCHEOL 24 Net Current Asset Value is $6,695.00 as of Apr. 2026, which is 240727% above its 10-year median of 2.78. GuruFocus rates HEOL with a GF Score™ of 24/100 and a GF Value™ of $13,049.82 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 300 Oil & Gas companies, Highwater Ethanol LLC ranks better than 65.33% 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).
Highwater Ethanol LLC's net current asset value per share for the quarter that ended in Apr. 2026 was $6,695.00.
The historical rank and industry rank for Highwater Ethanol LLC's Net Current Asset Value or its related term are showing as below:
HEOL'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.75 Med: 2.78 Max: 11.18
Current: 2.17
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Highwater Ethanol LLC was 11.18. The lowest was 1.75. And the median was 2.78.
HEOL's Price-to-Net-Current-Asset-Value is ranked better than 65.33% of 300
companies
in the Oil & Gas industry
Industry Median: 3.985
vs HEOL: 2.17
Highwater Ethanol LLC (OTCPK:HEOL) 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.
Highwater Ethanol LLC Net Current Asset Value Related Terms
Highwater Ethanol LLC Net Current Asset Value Historical Data
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The historical data trend for Highwater Ethanol LLC'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.
Highwater Ethanol LLC Net Current Asset Value Chart
HEOL vs BDCO, DLXY, FGPR: Net Current Asset Value Comparison
For the Oil & Gas Refining & Marketing subindustry, Highwater Ethanol LLC'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.
Highwater Ethanol LLC Price-to-Net-Current-Asset-Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Highwater Ethanol LLC's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Highwater Ethanol LLC'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 $6,695.00 mean?
Highwater Ethanol LLC (HEOL) has a Net Current Asset Value of $6,695.00 as of Apr. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Highwater Ethanol LLC and its competitors. This is 240727% above median its historical median of 2.78. Over the past decade, Highwater Ethanol LLC's Net Current Asset Value has ranged from 1.75 to 11.18. According to the industry distribution chart, Highwater Ethanol LLC ranks #104 out of 300 companies in the Oil & Gas industry, placing it in the top 34.7%.
Is Highwater Ethanol LLC's Net Current Asset Value too high?
Highwater Ethanol LLC's current Net Current Asset Value of $6,695.00 is 240727% above median its 10-year median of 2.78. Over the past 10 years, this metric has ranged from a low of 1.75 to a high of 11.18. The Oil & Gas industry median Net Current Asset Value is 3.99. Highwater Ethanol LLC's value of $6,695.00 is 167905% above this industry median. Based on the distribution chart, Highwater Ethanol LLC ranks #104 out of 300 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Highwater Ethanol LLC has a GF Score™ of 24/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Highwater Ethanol LLC's Net Current Asset Value compare to BDCO and DLXY?
According to the Oil & Gas industry distribution chart, Highwater Ethanol LLC ranks #104 out of 300 companies for Net Current Asset Value. This puts Highwater Ethanol LLC in the upper half of its industry. The industry median Net Current Asset Value is 3.99. Highwater Ethanol LLC's value of $6,695.00 is 167905% above this benchmark. Historically, Highwater Ethanol LLC's own Net Current Asset Value has ranged from 1.75 to 11.18 over the past decade. While the company's 10-year median is 2.78 vs. the industry median of 3.99, Highwater Ethanol LLC has consistently been above the industry average. 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 Oil & Gas company?
The median Net Current Asset Value among Oil & Gas companies is 3.99, based on 300 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. Highwater Ethanol LLC's current Net Current Asset Value of $6,695.00 is 167905% above the industry median. 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 Highwater Ethanol LLC and its competitors. For the Oil & Gas industry, the median Net Current Asset Value is 3.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Highwater Ethanol LLC's current Net Current Asset Value is $6,695.00, which is 240727% above median its own 10-year median of 2.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Highwater Ethanol LLC stock overvalued right now?
Based on GuruFocus' analysis, Highwater Ethanol LLC (HEOL) is currently considered Modestly Overvalued. The stock's GF Value™ is $13,049.82, compared to a current price of $14,555.00 — trading 11.5% above its estimated fair value. The current Net Current Asset Value is $6,695.00, which is 240727% above median its 10-year median of 2.78 and 167905% above the Oil & Gas industry median of 3.99. Highwater Ethanol LLC's overall GF Score™ is 24/100 with 4 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 Highwater Ethanol LLC (HEOL), the current Net Current Asset Value is $6,695.00 as of Apr. 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 Highwater Ethanol LLC (HEOL) Overvalued in 2026?
Based on GuruFocus' analysis, Highwater Ethanol LLC stock appears to be overvalued.
The current stock price of $14,555.00 is trading 11.5% above its estimated GF Value™ of $13,049.82.
GuruFocus considers Highwater Ethanol LLC to be Modestly Overvalued.
Key valuation signals for HEOL:
Net Current Asset Value: $6,695.00 (240727% above median its 10-year median of 2.78)
GF Value™: $13,049.82 vs. price of $14,555.00 (11.5% above fair value)
Industry Position: 167905% above the Oil & Gas median (#104 of 300)
No single metric tells the full story. See the HEOL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Highwater Ethanol LLC is engaged in the production of ethanol and distillers grains at the plant. It focuses on the manufacturing and marketing of fuel-grade ethanol and the co-products of the ethanol production process. Its products include fuel-grade ethanol, distillers grains, and corn oil. The company produces and sells fuel ethanol and co-products of the fuel ethanol production process in the continental United States.
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