Japan TobaccoJAPAF 75 Net Current Asset Value is $-2.41 as of Mar. 2026. GuruFocus rates JAPAF with a GF Score™ of 75/100 and a GF Value™ of $31.64 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 29 Tobacco Products companies, Japan Tobacco ranks worse than 3448272.41% 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).
Japan Tobacco's net current asset value per share for the quarter that ended in Mar. 2026 was $-2.41.
The historical rank and industry rank for Japan Tobacco'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 Japan Tobacco was 227.41. The lowest was 227.41. And the median was 227.41.
JAPAF's Price-to-Net-Current-Asset-Value is not ranked *
in the Tobacco Products industry.
Industry Median: 5.04 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Japan Tobacco (OTCPK:JAPAF) 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.
Japan Tobacco Net Current Asset Value Related Terms
Japan Tobacco Net Current Asset Value Historical Data
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The historical data trend for Japan Tobacco'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.
JAPAF vs PM, MO, TPB: Net Current Asset Value Comparison
For the Tobacco subindustry, Japan Tobacco'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.
Japan Tobacco Price-to-Net-Current-Asset-Value vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, Japan Tobacco's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Japan Tobacco'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 $-2.41 mean?
Japan Tobacco (JAPAF) has a Net Current Asset Value of $-2.41 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 Japan Tobacco and its competitors. Over the past decade, Japan Tobacco's Net Current Asset Value has ranged from 227.41 to 227.41. According to the industry distribution chart, Japan Tobacco ranks #999999 out of 29 companies in the Tobacco Products industry.
Is Japan Tobacco's Net Current Asset Value too high?
Japan Tobacco's current Net Current Asset Value is $-2.41. Over the past 10 years, this metric has ranged from a low of 227.41 to a high of 227.41. Based on the distribution chart, Japan Tobacco ranks #999999 out of 29 companies in the Tobacco Products industry, which is in the bottom quartile relative to peers. Overall, Japan Tobacco has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Japan Tobacco's Net Current Asset Value compare to PM and MO?
According to the Tobacco Products industry distribution chart, Japan Tobacco ranks #999999 out of 29 companies for Net Current Asset Value. This places Japan Tobacco in the lower half of its industry. The industry median Net Current Asset Value is 5.04. Historically, Japan Tobacco's own Net Current Asset Value has ranged from 227.41 to 227.41 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 Tobacco Products company?
The median Net Current Asset Value among Tobacco Products companies is 5.04, based on 29 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 Japan Tobacco and its competitors. For the Tobacco Products industry, the median Net Current Asset Value is 5.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Japan Tobacco's current Net Current Asset Value is $-2.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Tobacco stock overvalued right now?
Based on GuruFocus' analysis, Japan Tobacco (JAPAF) is currently considered Modestly Overvalued. The stock's GF Value™ is $31.64, compared to a current price of $37.74 — trading 19.3% above its estimated fair value. The current Net Current Asset Value is $-2.41. Japan Tobacco's overall GF Score™ is 75/100 with 7 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 Japan Tobacco (JAPAF), the current Net Current Asset Value is $-2.41 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 Japan Tobacco (JAPAF) Overvalued in 2026?
Based on GuruFocus' analysis, Japan Tobacco stock appears to be overvalued.
The current stock price of $37.74 is trading 19.3% above its estimated GF Value™ of $31.64.
GuruFocus considers Japan Tobacco to be Modestly Overvalued.
Key valuation signals for JAPAF:
Net Current Asset Value: $-2.41
GF Value™: $31.64 vs. price of $37.74 (19.3% above fair value)
No single metric tells the full story. See the JAPAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Japan Tobacco primarily sells cigarettes and reduced-risk products, organized in three clusters consisting of Asia (which includes its home market and countries in Asia Pacific), Western Europe, and EMA (which includes Eastern Europe, the Middle East North Africa, Turkey, Americas, and duty-free). Its leading cigarette brands include Winston (non-US), Camel (non-US), Mevius, and LD. Its reduced-risk brands include Logic in vaping, Ploom in heated tobacco, and Nordic Spirit in nicotine pouches, though these generates less than 5% of tobacco sales.
75GF Score
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