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ITM PowerITMPF -1.39%78 Net Current Asset Value is $0.29 as of Oct. 2025, which is 93% below its 10-year median of 3.89. GuruFocus rates ITMPF with a GF Score™ of 78/100 and a GF Value™ of $2.58 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 2,215 Industrial Products companies, ITM Power ranks worse than 51.65% 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).
ITM Power's net current asset value per share for the quarter that ended in Oct. 2025 was $0.29.
The historical rank and industry rank for ITM Power's Net Current Asset Value or its related term are showing as below:
ITMPF'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.14 Med: 3.89 Max: 57.75
Current: 5.56
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of ITM Power was 57.75. The lowest was 1.14. And the median was 3.89.
ITMPF's Price-to-Net-Current-Asset-Value is ranked worse than 51.65% of 2215
companies
in the Industrial Products industry
Industry Median: 5.19
vs ITMPF: 5.56
ITM Power (OTCPK:ITMPF) 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.
ITM Power Net Current Asset Value Related Terms
ITM Power Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for ITM Power'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.
ITMPF vs GEV, ETN, PH: Net Current Asset Value Comparison
For the Specialty Industrial Machinery subindustry, ITM Power'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.
ITM Power Price-to-Net-Current-Asset-Value vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, ITM Power's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where ITM Power'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 $0.29 mean?
ITM Power (ITMPF) has a Net Current Asset Value of $0.29 as of Oct. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on ITM Power and its competitors. This is 93% below median its historical median of 3.89. Over the past decade, ITM Power's Net Current Asset Value has ranged from 1.14 to 57.75. According to the industry distribution chart, ITM Power ranks #1144 out of 2215 companies in the Industrial Products industry, placing it in the top 51.6%.
Is ITM Power's Net Current Asset Value too high?
ITM Power's current Net Current Asset Value of $0.29 is 93% below median its 10-year median of 3.89. Over the past 10 years, this metric has ranged from a low of 1.14 to a high of 57.75. The Industrial Products industry median Net Current Asset Value is 5.19. ITM Power's value of $0.29 is 94.4% below this industry median. Based on the distribution chart, ITM Power ranks #1144 out of 2215 companies in the Industrial Products industry, which is below the industry midpoint. Overall, ITM Power has a GF Score™ of 78/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does ITM Power's Net Current Asset Value compare to GEV and ETN?
According to the Industrial Products industry distribution chart, ITM Power ranks #1144 out of 2215 companies for Net Current Asset Value. This places ITM Power in the lower half of its industry. The industry median Net Current Asset Value is 5.19. ITM Power's value of $0.29 is 94.4% below this benchmark. Historically, ITM Power's own Net Current Asset Value has ranged from 1.14 to 57.75 over the past decade. While the company's 10-year median is 3.89 vs. the industry median of 5.19, ITM Power 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 5.19, based on 2,215 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. ITM Power's current Net Current Asset Value of $0.29 is 94.4% 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 ITM Power and its competitors. For the Industrial Products industry, the median Net Current Asset Value is 5.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ITM Power's current Net Current Asset Value is $0.29, which is 93% below median its own 10-year median of 3.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ITM Power stock overvalued right now?
Based on GuruFocus' analysis, ITM Power (ITMPF) is currently considered Possible Value Trap. The stock's GF Value™ is $2.58, compared to a current price of $1.50 — trading 41.9% below its estimated fair value. The current Net Current Asset Value is $0.29, which is 93% below median its 10-year median of 3.89 and 94.4% below the Industrial Products industry median of 5.19. ITM Power's overall GF Score™ is 78/100 with 2 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 ITM Power (ITMPF), the current Net Current Asset Value is $0.29 as of Oct. 2025. 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 ITM Power (ITMPF) Overvalued in 2026?
Based on GuruFocus' analysis, ITM Power stock appears to be undervalued.
The current stock price of $1.50 is trading 41.9% below its estimated GF Value™ of $2.58.
GuruFocus considers ITM Power to be Possible Value Trap.
Key valuation signals for ITMPF:
Net Current Asset Value: $0.29 (93% below median its 10-year median of 3.89)
GF Value™: $2.58 vs. price of $1.50 (41.9% below fair value)
Industry Position: 94.4% below the Industrial Products median (#1144 of 2215)
No single metric tells the full story. See the ITMPF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ITM Power PLC designs and manufactures integrated hydrogen energy systems for energy storage and clean fuel production. The company is also involved in the research and development of scientific and engineering projects; the development and manufacture of prototype products; and the sale of electrolyzer products such as HGas, HFuel, HPac. It offers a range of services including construction, consulting, and other services. Its primary geographic markets are the United Kingdom, the Rest of Europe, Germany, and with maximum revenue from the United Kingdom.
78GF 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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