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).
IST:FORMT'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.39 Med: 9.78 Max: 271.07
Current: 13.69
During the past 11 years, the highest Price-to-Net-Current-Asset-Value Ratio of Formet Metal Ve Camnayi Anonim Sirketi was 271.07. The lowest was 1.39. And the median was 9.78.
IST:FORMT's Price-to-Net-Current-Asset-Value is ranked worse than 84.72% of 1054
companies
in the Construction industry
Industry Median: 3.23
vs IST:FORMT: 13.69
Formet Metal Ve Camnayi Anonim Sirketi (IST:FORMT) 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.
Formet Metal Ve Camnayi Anonim Sirketi Net Current Asset Value Related Terms
Formet Metal Ve Camnayi Anonim Sirketi 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.
Formet Metal Ve Camnayi Anonim Sirketi Net Current Asset Value Chart
Formet Metal Ve Camnayi Anonim Sirketi Annual Data
IST:FORMT vs TT, JCI, CARR: Net Current Asset Value Comparison
For the Building Products & Equipment subindustry, Formet Metal Ve Camnayi Anonim Sirketi'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.
Formet Metal Ve Camnayi Anonim Sirketi Price-to-Net-Current-Asset-Value vs Construction Industry
For the Construction industry and Industrials sector, Formet Metal Ve Camnayi Anonim Sirketi's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Formet Metal Ve Camnayi Anonim Sirketi'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 ₺0.16 mean?
Formet Metal Ve Camnayi Anonim Sirketi (IST:FORMT) has a Net Current Asset Value of ₺0.16 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 Formet Metal Ve Camnayi Anonim Sirketi and its competitors. This is 98% below median its historical median of 9.78. Over the past decade, Formet Metal Ve Camnayi Anonim Sirketi's Net Current Asset Value has ranged from 1.39 to 271.07. According to the industry distribution chart, Formet Metal Ve Camnayi Anonim Sirketi ranks #893 out of 1054 companies in the Construction industry, placing it in the top 84.7%.
Is Formet Metal Ve Camnayi Anonim Sirketi's Net Current Asset Value too high?
Formet Metal Ve Camnayi Anonim Sirketi's current Net Current Asset Value of ₺0.16 is 98% below median its 10-year median of 9.78. Over the past 10 years, this metric has ranged from a low of 1.39 to a high of 271.07. Based on the distribution chart, Formet Metal Ve Camnayi Anonim Sirketi ranks #893 out of 1054 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Formet Metal Ve Camnayi Anonim Sirketi has a GF Score™ of 62/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Formet Metal Ve Camnayi Anonim Sirketi's Net Current Asset Value compare to TT and JCI?
According to the Construction industry distribution chart, Formet Metal Ve Camnayi Anonim Sirketi ranks #893 out of 1054 companies for Net Current Asset Value. This places Formet Metal Ve Camnayi Anonim Sirketi in the lower half of its industry. The industry median Net Current Asset Value is 3.23. Historically, Formet Metal Ve Camnayi Anonim Sirketi's own Net Current Asset Value has ranged from 1.39 to 271.07 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 Construction company?
The median Net Current Asset Value among Construction companies is 3.23, based on 1,054 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 Formet Metal Ve Camnayi Anonim Sirketi and its competitors. For the Construction industry, the median Net Current Asset Value is 3.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Formet Metal Ve Camnayi Anonim Sirketi's current Net Current Asset Value is ₺0.16, which is 98% below median its own 10-year median of 9.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Formet Metal Ve Camnayi Anonim Sirketi stock overvalued right now?
Based on GuruFocus' analysis, Formet Metal Ve Camnayi Anonim Sirketi (IST:FORMT) is currently considered Modestly Undervalued. The stock's GF Value™ is ₺2.65, compared to a current price of ₺2.19 — trading 17.4% below its estimated fair value. The current Net Current Asset Value is ₺0.16, which is 98% below median its 10-year median of 9.78. Formet Metal Ve Camnayi Anonim Sirketi's overall GF Score™ is 62/100 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 Formet Metal Ve Camnayi Anonim Sirketi (IST:FORMT), the current Net Current Asset Value is ₺0.16 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 Formet Metal Ve Camnayi Anonim Sirketi (IST:FORMT) Overvalued in 2026?
Based on GuruFocus' analysis, Formet Metal Ve Camnayi Anonim Sirketi stock appears to be undervalued.
The current stock price of ₺2.19 is trading 17.4% below its estimated GF Value™ of ₺2.65.
GuruFocus considers Formet Metal Ve Camnayi Anonim Sirketi to be Modestly Undervalued.
Key valuation signals for IST:FORMT:
Net Current Asset Value: ₺0.16 (98% below median its 10-year median of 9.78)
GF Value™: ₺2.65 vs. price of ₺2.19 (17.4% below fair value)
No single metric tells the full story. See the IST:FORMT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Formet Metal Ve Camnayi Anonim Sirketi Business Description
Formet Metal Ve Cam Sanayi Anonim Sirketi manufactures and sells steel doors. It offers products such as Panel Series, Neo Series, Eko Series, and others. The company also provides various accessories such as Knob 204, Knob 208, Kumru 1301 Gold, and other related accessories.
62GF Score
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