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CAles HoldingsJSE:CAA +2.80%83 Net Current Asset Value is R4.03 as of Dec. 2025, which is 100% below its 10-year median of 3.66. GuruFocus rates JSE:CAA with a GF Score™ of 83/100 and a GF Value™ of R15.93 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 625 Business Services companies, CAles Holdings ranks better than 53.92% 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).
CAles Holdings's net current asset value per share for the quarter that ended in Dec. 2025 was R4.03.
The historical rank and industry rank for CAles Holdings's Net Current Asset Value or its related term are showing as below:
JSE:CAA'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 3.22 Med: 3.66 Max: 4.76
Current: 3.37
During the past 10 years, the highest Price-to-Net-Current-Asset-Value Ratio of CAles Holdings was 4.76. The lowest was 3.22. And the median was 3.66.
JSE:CAA's Price-to-Net-Current-Asset-Value is ranked better than 53.92% of 625
companies
in the Business Services industry
Industry Median: 3.72
vs JSE:CAA: 3.37
CAles Holdings (JSE:CAA) 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.
CAles Holdings Net Current Asset Value Related Terms
CAles Holdings Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for CAles 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:CAA vs CTAS, CPRT, ULS: Net Current Asset Value Comparison
For the Specialty Business Services subindustry, CAles 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.
CAles Holdings Price-to-Net-Current-Asset-Value vs Business Services Industry
For the Business Services industry and Industrials sector, CAles Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where CAles 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 R4.03 mean?
CAles Holdings (JSE:CAA) has a Net Current Asset Value of R4.03 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on CAles Holdings and its competitors. This is 10% above median its historical median of 3.66. Over the past decade, CAles Holdings' Net Current Asset Value has ranged from 3.22 to 4.76. According to the industry distribution chart, CAles Holdings ranks #288 out of 625 companies in the Business Services industry, placing it in the top 46.1%.
Is CAles Holdings' Net Current Asset Value too high?
CAles Holdings' current Net Current Asset Value of R4.03 is 10% above median its 10-year median of 3.66. Over the past 10 years, this metric has ranged from a low of 3.22 to a high of 4.76. Based on the distribution chart, CAles Holdings ranks #288 out of 625 companies in the Business Services industry, which is above the industry midpoint. Overall, CAles Holdings has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CAles Holdings' Net Current Asset Value compare to CTAS and CPRT?
According to the Business Services industry distribution chart, CAles Holdings ranks #288 out of 625 companies for Net Current Asset Value. This puts CAles Holdings in the upper half of its industry. The industry median Net Current Asset Value is 3.72. Historically, CAles Holdings' own Net Current Asset Value has ranged from 3.22 to 4.76 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 3.72, 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 CAles Holdings and its competitors. For the Business Services industry, the median Net Current Asset Value is 3.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CAles Holdings's current Net Current Asset Value is R4.03, which is 10% above median its own 10-year median of 3.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CAles Holdings stock overvalued right now?
Based on GuruFocus' analysis, CAles Holdings (JSE:CAA) is currently considered Modestly Undervalued. The stock's GF Value™ is R15.93, compared to a current price of R13.60 — trading 14.6% below its estimated fair value. The current Net Current Asset Value is R4.03, which is 10% above median its 10-year median of 3.66. CAles Holdings' overall GF Score™ is 83/100 with 3 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 CAles Holdings (JSE:CAA), the current Net Current Asset Value is R4.03 as of Dec. 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 CAles Holdings (JSE:CAA) Overvalued in 2026?
Based on GuruFocus' analysis, CAles Holdings stock appears to be undervalued.
The current stock price of R13.60 is trading 14.6% below its estimated GF Value™ of R15.93.
GuruFocus considers CAles Holdings to be Modestly Undervalued.
Key valuation signals for JSE:CAA:
Net Current Asset Value: R4.03 (10% above median its 10-year median of 3.66)
GF Value™: R15.93 vs. price of R13.60 (14.6% below fair value)
No single metric tells the full story. See the JSE:CAA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CA Sales Holdings Ltd operates within the Fast-Moving Consumer Goods industry and delivers services to blue-chip manufacturers. The services include warehousing and distribution, retail execution and advisory, retail support, training, and technology and data solutions. The company's geographical presence across Southern Africa operates in Botswana, Eswatini, Lesotho, Namibia, South Africa, and other countries. The company generates maximum revenue from the Botswana region.
83GF 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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