Argent IndustrialJSE:ART -0.80%76 Net Current Asset Value is R18.29 as of Mar. 2026, which is 100% below its 10-year median of 1.20. GuruFocus rates JSE:ART with a GF Score™ of 76/100 and a GF Value™ of R29.94 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 368 Steel companies, Argent Industrial ranks better than 61.68% 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).
Argent Industrial's net current asset value per share for the quarter that ended in Mar. 2026 was R18.29.
The historical rank and industry rank for Argent Industrial's Net Current Asset Value or its related term are showing as below:
JSE:ART'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.8 Med: 1.2 Max: 2.09
Current: 2.09
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Argent Industrial was 2.09. The lowest was 0.80. And the median was 1.20.
JSE:ART's Price-to-Net-Current-Asset-Value is ranked better than 61.68% of 368
companies
in the Steel industry
Industry Median: 2.985
vs JSE:ART: 2.09
Argent Industrial (JSE:ART) 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.
Argent Industrial Net Current Asset Value Related Terms
Argent Industrial Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Argent Industrial'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:ART vs NUE, STLD, RS: Net Current Asset Value Comparison
For the Steel subindustry, Argent Industrial'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.
Argent Industrial Price-to-Net-Current-Asset-Value vs Steel Industry
For the Steel industry and Basic Materials sector, Argent Industrial's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Argent Industrial'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 R18.29 mean?
Argent Industrial (JSE:ART) has a Net Current Asset Value of R18.29 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 Argent Industrial and its competitors. This is 1424% above median its historical median of 1.20. Over the past decade, Argent Industrial's Net Current Asset Value has ranged from 0.80 to 2.09. According to the industry distribution chart, Argent Industrial ranks #141 out of 368 companies in the Steel industry, placing it in the top 38.3%.
Is Argent Industrial's Net Current Asset Value too high?
Argent Industrial's current Net Current Asset Value of R18.29 is 1424% above median its 10-year median of 1.20. Over the past 10 years, this metric has ranged from a low of 0.80 to a high of 2.09. Based on the distribution chart, Argent Industrial ranks #141 out of 368 companies in the Steel industry, which is above the industry midpoint. Overall, Argent Industrial has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Argent Industrial's Net Current Asset Value compare to NUE and STLD?
According to the Steel industry distribution chart, Argent Industrial ranks #141 out of 368 companies for Net Current Asset Value. This puts Argent Industrial in the upper half of its industry. The industry median Net Current Asset Value is 2.99. Historically, Argent Industrial's own Net Current Asset Value has ranged from 0.80 to 2.09 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 Steel company?
The median Net Current Asset Value among Steel companies is 2.99, based on 368 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 Argent Industrial and its competitors. For the Steel industry, the median Net Current Asset Value is 2.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Argent Industrial's current Net Current Asset Value is R18.29, which is 1424% above median its own 10-year median of 1.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Argent Industrial stock overvalued right now?
Based on GuruFocus' analysis, Argent Industrial (JSE:ART) is currently considered Modestly Overvalued. The stock's GF Value™ is R29.94, compared to a current price of R38.20 — trading 27.6% above its estimated fair value. The current Net Current Asset Value is R18.29, which is 1424% above median its 10-year median of 1.20. Argent Industrial's overall GF Score™ is 76/100 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 Argent Industrial (JSE:ART), the current Net Current Asset Value is R18.29 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 Argent Industrial (JSE:ART) Overvalued in 2026?
Based on GuruFocus' analysis, Argent Industrial stock appears to be overvalued.
The current stock price of R38.20 is trading 27.6% above its estimated GF Value™ of R29.94.
GuruFocus considers Argent Industrial to be Modestly Overvalued.
Key valuation signals for JSE:ART:
Net Current Asset Value: R18.29 (1424% above median its 10-year median of 1.20)
GF Value™: R29.94 vs. price of R38.20 (27.6% above fair value)
No single metric tells the full story. See the JSE:ART stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Argent Industrial Ltd is a holding company that derives its income from the manufacturing and trading of steel and steel-related products, and properties. The company is organized into three operating divisions, namely Manufacturing, Steel trading, and Properties. The Manufacturing segment consists of manufacturing branded consumer goods. The steel trading segment makes up ferrous steel, aluminum, and stainless steel products. Steel products are also traded internally to the group's manufacturing businesses. The group charges rent for the properties. The company generates a majority of its revenue from manufacturing businesses. Geographically, it derives a majority of its revenue from South Africa and has a presence in the rest of the world.
76GF Score
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