Harmonic Drive SystemsHSYDF +10.91%69 Net Current Asset Value is $1.33 as of Mar. 2026, which is 97% below its 10-year median of 49.47. GuruFocus rates HSYDF with a GF Score™ of 69/100 and a GF Value™ of $24.20 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 2,217 Industrial Products companies, Harmonic Drive Systems ranks worse than 90.98% 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).
Harmonic Drive Systems's net current asset value per share for the quarter that ended in Mar. 2026 was $1.33.
The historical rank and industry rank for Harmonic Drive Systems's Net Current Asset Value or its related term are showing as below:
HSYDF'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 16.22 Med: 49.47 Max: 735.5
Current: 38.06
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Harmonic Drive Systems was 735.50. The lowest was 16.22. And the median was 49.47.
HSYDF's Price-to-Net-Current-Asset-Value is ranked worse than 90.98% of 2217
companies
in the Industrial Products industry
Industry Median: 5.49
vs HSYDF: 38.06
Harmonic Drive Systems (OTCPK:HSYDF) 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.
Harmonic Drive Systems Net Current Asset Value Related Terms
Harmonic Drive Systems Net Current Asset Value Historical Data
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The historical data trend for Harmonic Drive Systems'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.
Harmonic Drive Systems Net Current Asset Value Chart
HSYDF vs GEV, ETN, PH: Net Current Asset Value Comparison
For the Specialty Industrial Machinery subindustry, Harmonic Drive Systems'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.
Harmonic Drive Systems Price-to-Net-Current-Asset-Value vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Harmonic Drive Systems's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Harmonic Drive Systems'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 $1.33 mean?
Harmonic Drive Systems (HSYDF) has a Net Current Asset Value of $1.33 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 Harmonic Drive Systems and its competitors. This is 97% below median its historical median of 49.47. Over the past decade, Harmonic Drive Systems' Net Current Asset Value has ranged from 16.22 to 735.50. According to the industry distribution chart, Harmonic Drive Systems ranks #2017 out of 2217 companies in the Industrial Products industry, placing it in the top 91%.
Is Harmonic Drive Systems' Net Current Asset Value too high?
Harmonic Drive Systems' current Net Current Asset Value of $1.33 is 97% below median its 10-year median of 49.47. Over the past 10 years, this metric has ranged from a low of 16.22 to a high of 735.50. The Industrial Products industry median Net Current Asset Value is 5.49. Harmonic Drive Systems' value of $1.33 is 75.8% below this industry median. Based on the distribution chart, Harmonic Drive Systems ranks #2017 out of 2217 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Harmonic Drive Systems has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Harmonic Drive Systems' Net Current Asset Value compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Harmonic Drive Systems ranks #2017 out of 2217 companies for Net Current Asset Value. This places Harmonic Drive Systems in the lower half of its industry. The industry median Net Current Asset Value is 5.49. Harmonic Drive Systems' value of $1.33 is 75.8% below this benchmark. Historically, Harmonic Drive Systems' own Net Current Asset Value has ranged from 16.22 to 735.50 over the past decade. While the company's 10-year median is 49.47 vs. the industry median of 5.49, Harmonic Drive Systems has consistently been below 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 Industrial Products company?
The median Net Current Asset Value among Industrial Products companies is 5.49, based on 2,217 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. Harmonic Drive Systems's current Net Current Asset Value of $1.33 is 75.8% below 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 Harmonic Drive Systems and its competitors. For the Industrial Products industry, the median Net Current Asset Value is 5.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harmonic Drive Systems's current Net Current Asset Value is $1.33, which is 97% below median its own 10-year median of 49.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harmonic Drive Systems stock overvalued right now?
Based on GuruFocus' analysis, Harmonic Drive Systems (HSYDF) is currently considered Significantly Overvalued. The stock's GF Value™ is $24.20, compared to a current price of $50.00 — trading 106.6% above its estimated fair value. The current Net Current Asset Value is $1.33, which is 97% below median its 10-year median of 49.47 and 75.8% below the Industrial Products industry median of 5.49. Harmonic Drive Systems' overall GF Score™ is 69/100 with 10 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 Harmonic Drive Systems (HSYDF), the current Net Current Asset Value is $1.33 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 Harmonic Drive Systems (HSYDF) Overvalued in 2026?
Based on GuruFocus' analysis, Harmonic Drive Systems stock appears to be overvalued.
The current stock price of $50.00 is trading 106.6% above its estimated GF Value™ of $24.20.
GuruFocus considers Harmonic Drive Systems to be Significantly Overvalued.
Key valuation signals for HSYDF:
Net Current Asset Value: $1.33 (97% below median its 10-year median of 49.47)
GF Value™: $24.20 vs. price of $50.00 (106.6% above fair value)
Industry Position: 75.8% below the Industrial Products median (#2017 of 2217)
No single metric tells the full story. See the HSYDF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harmonic Drive Systems manufactures and sells high-precision reduction gears (harmonic reducers) under the Harmonic Drive brand as well as other mechatronics products, including rotary actuators, linear actuators, and AC servo motors. The company also provides planetary gear speed reducers under the AccuDrive and Harmonic Planetary brands. Its products are used in industrial robots, semiconductor production equipment, and other high-precision equipment. HDS was founded in 1970 and is headquartered in Tokyo, Japan.
69GF 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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