Adcorp HoldingsJSE:ADR 60 Net Current Asset Value is R5.16 as of Feb. 2026, which is 100% below its 10-year median of 1.48. GuruFocus rates JSE:ADR with a GF Score™ of 60/100 and a GF Value™ of R4.60 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 625 Business Services companies, Adcorp Holdings ranks better than 87.36% 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).
Adcorp Holdings's net current asset value per share for the quarter that ended in Feb. 2026 was R5.16.
The historical rank and industry rank for Adcorp Holdings's Net Current Asset Value or its related term are showing as below:
JSE:ADR'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.22 Med: 1.48 Max: 8.23
Current: 1.28
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Adcorp Holdings was 8.23. The lowest was 1.22. And the median was 1.48.
JSE:ADR's Price-to-Net-Current-Asset-Value is ranked better than 87.36% of 625
companies
in the Business Services industry
Industry Median: 3.76
vs JSE:ADR: 1.28
Adcorp Holdings (JSE:ADR) 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.
Adcorp Holdings Net Current Asset Value Related Terms
Adcorp Holdings Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Adcorp Holdings'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.
JSE:ADR vs KFY, RHI, TNET: Net Current Asset Value Comparison
For the Staffing & Employment Services subindustry, Adcorp Holdings'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.
Adcorp Holdings Price-to-Net-Current-Asset-Value vs Business Services Industry
For the Business Services industry and Industrials sector, Adcorp Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Adcorp Holdings'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 R5.16 mean?
Adcorp Holdings (JSE:ADR) has a Net Current Asset Value of R5.16 as of Feb. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Adcorp Holdings and its competitors. This is 249% above median its historical median of 1.48. Over the past decade, Adcorp Holdings' Net Current Asset Value has ranged from 1.22 to 8.23. According to the industry distribution chart, Adcorp Holdings ranks #79 out of 625 companies in the Business Services industry, placing it in the top 12.6%.
Is Adcorp Holdings' Net Current Asset Value too high?
Adcorp Holdings' current Net Current Asset Value of R5.16 is 249% above median its 10-year median of 1.48. Over the past 10 years, this metric has ranged from a low of 1.22 to a high of 8.23. Based on the distribution chart, Adcorp Holdings ranks #79 out of 625 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Adcorp Holdings has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Adcorp Holdings' Net Current Asset Value compare to KFY and RHI?
According to the Business Services industry distribution chart, Adcorp Holdings ranks #79 out of 625 companies for Net Current Asset Value. This places Adcorp Holdings in the top 13% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 3.76. Historically, Adcorp Holdings' own Net Current Asset Value has ranged from 1.22 to 8.23 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 Business Services company?
The median Net Current Asset Value among Business Services companies is 3.76, based on 625 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 Adcorp Holdings and its competitors. For the Business Services industry, the median Net Current Asset Value is 3.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Adcorp Holdings's current Net Current Asset Value is R5.16, which is 249% above median its own 10-year median of 1.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adcorp Holdings stock overvalued right now?
Based on GuruFocus' analysis, Adcorp Holdings (JSE:ADR) is currently considered Significantly Overvalued. The stock's GF Value™ is R4.60, compared to a current price of R6.60 — trading 43.5% above its estimated fair value. The current Net Current Asset Value is R5.16, which is 249% above median its 10-year median of 1.48. Adcorp Holdings' overall GF Score™ is 60/100 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 Adcorp Holdings (JSE:ADR), the current Net Current Asset Value is R5.16 as of Feb. 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 Adcorp Holdings (JSE:ADR) Overvalued in 2026?
Based on GuruFocus' analysis, Adcorp Holdings stock appears to be overvalued.
The current stock price of R6.60 is trading 43.5% above its estimated GF Value™ of R4.60.
GuruFocus considers Adcorp Holdings to be Significantly Overvalued.
Key valuation signals for JSE:ADR:
Net Current Asset Value: R5.16 (249% above median its 10-year median of 1.48)
GF Value™: R4.60 vs. price of R6.60 (43.5% above fair value)
No single metric tells the full story. See the JSE:ADR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Adcorp Holdings Ltd is engaged in providing workplace solutions. The company renders services in the fields of permanent recruitment and flexible staffing sectors, professional IT services, as well as the provision of business process outsourcing, training, and financial services. Its operating segments are Contingent staffing, Professional Services, Business support. and Contingent staffing Australia. The geographical segments are South Africa and International.
60GF Score
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