ISA HoldingsJSE:ISA 90 Net Current Asset Value is R0.25 as of Feb. 2026, which is 100% below its 10-year median of 4.62. GuruFocus rates JSE:ISA with a GF Score™ of 90/100 and a GF Value™ of R2.24 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,755 Software companies, ISA Holdings ranks worse than 67.18% 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).
ISA Holdings's net current asset value per share for the quarter that ended in Feb. 2026 was R0.25.
The historical rank and industry rank for ISA Holdings's Net Current Asset Value or its related term are showing as below:
JSE:ISA'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 2.15 Med: 4.62 Max: 11.81
Current: 8
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of ISA Holdings was 11.81. The lowest was 2.15. And the median was 4.62.
JSE:ISA's Price-to-Net-Current-Asset-Value is ranked worse than 67.18% of 1755
companies
in the Software industry
Industry Median: 4.8
vs JSE:ISA: 8.00
ISA Holdings (JSE:ISA) 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.
ISA Holdings Net Current Asset Value Related Terms
ISA Holdings Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for ISA 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:ISA vs MSFT, ORCL, PLTR: Net Current Asset Value Comparison
For the Software - Infrastructure subindustry, ISA 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.
ISA Holdings Price-to-Net-Current-Asset-Value vs Software Industry
For the Software industry and Technology sector, ISA Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where ISA 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 R0.25 mean?
ISA Holdings (JSE:ISA) has a Net Current Asset Value of R0.25 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 ISA Holdings and its competitors. This is 95% below median its historical median of 4.62. Over the past decade, ISA Holdings' Net Current Asset Value has ranged from 2.15 to 11.81. According to the industry distribution chart, ISA Holdings ranks #1179 out of 1755 companies in the Software industry, placing it in the top 67.2%.
Is ISA Holdings' Net Current Asset Value too high?
ISA Holdings' current Net Current Asset Value of R0.25 is 95% below median its 10-year median of 4.62. Over the past 10 years, this metric has ranged from a low of 2.15 to a high of 11.81. Based on the distribution chart, ISA Holdings ranks #1179 out of 1755 companies in the Software industry, which is below the industry midpoint. Overall, ISA Holdings has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ISA Holdings' Net Current Asset Value compare to MSFT and ORCL?
According to the Software industry distribution chart, ISA Holdings ranks #1179 out of 1755 companies for Net Current Asset Value. This places ISA Holdings in the lower half of its industry. The industry median Net Current Asset Value is 4.80. Historically, ISA Holdings' own Net Current Asset Value has ranged from 2.15 to 11.81 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 Software company?
The median Net Current Asset Value among Software companies is 4.80, based on 1,755 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 ISA Holdings and its competitors. For the Software industry, the median Net Current Asset Value is 4.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ISA Holdings's current Net Current Asset Value is R0.25, which is 95% below median its own 10-year median of 4.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ISA Holdings stock overvalued right now?
Based on GuruFocus' analysis, ISA Holdings (JSE:ISA) is currently considered Modestly Undervalued. The stock's GF Value™ is R2.24, compared to a current price of R2.00 — trading 10.7% below its estimated fair value. The current Net Current Asset Value is R0.25, which is 95% below median its 10-year median of 4.62. ISA Holdings' overall GF Score™ is 90/100 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 ISA Holdings (JSE:ISA), the current Net Current Asset Value is R0.25 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 ISA Holdings (JSE:ISA) Overvalued in 2026?
Based on GuruFocus' analysis, ISA Holdings stock appears to be undervalued.
The current stock price of R2.00 is trading 10.7% below its estimated GF Value™ of R2.24.
GuruFocus considers ISA Holdings to be Modestly Undervalued.
Key valuation signals for JSE:ISA:
Net Current Asset Value: R0.25 (95% below median its 10-year median of 4.62)
GF Value™: R2.24 vs. price of R2.00 (10.7% below fair value)
No single metric tells the full story. See the JSE:ISA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ISA Holdings Ltd is an investment holding company. The company, through its subsidiary, provides network, Internet, and information security solutions to the sub-Saharan African market. Its business is to discover, design, deliver, deploy, and manage its bespoke Information and Communication Technology (ICT) security infrastructure. Its technology offerings include firewalls, anti-virus, authentication, remote access, content security, intrusion protection, virtual private networking, vulnerability assessment, messaging and data protection, and identity and access management. The company generates a majority of its revenue from its business in South Africa.
90GF Score
Get the complete analysis for JSE:ISA
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
JSE:ISA has been successfully added to your 
