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).
Ninety One's net current asset value per share for the quarter that ended in Sep. 2023 was R4.31.
The historical rank and industry rank for Ninety One's Net Current Asset Value or its related term are showing as below:
JSE:NY1'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 8.59 Med: 15.21 Max: 286.25
Current: 9.23
During the past 7 years, the highest Price-to-Net-Current-Asset-Value Ratio of Ninety One was 286.25. The lowest was 8.59. And the median was 15.21.
JSE:NY1's Price-to-Net-Current-Asset-Value is ranked worse than 76.2% of 374
companies
in the Asset Management industry
Industry Median: 3.36
vs JSE:NY1: 9.23
Ninety One Net Current Asset Value Historical Data
The historical data trend for Ninety One'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.
Competitive Comparison of Ninety One's Net Current Asset Value
For the Asset Management subindustry, Ninety One'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.
Ninety One's Price-to-Net-Current-Asset-Value Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, Ninety One's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Ninety One's Price-to-Net-Current-Asset-Value falls into.
Ninety One Net Current Asset Value Calculation
Ninety One's Net Current Asset Value (NCAV) per share for the fiscal year that ended in Mar. 2023 is calculated as
* 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.
Ninety One (JSE:NY1) 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.
Ninety One Net Current Asset Value Related Terms
Thank you for viewing the detailed overview of Ninety One's Net Current Asset Value provided by GuruFocus.com. Please click on the following links to see related term pages.
Ninety One Ltd is an asset manager. The company provides a range of differentiated strategies managed by its specialist investment teams, providing access to a diverse range of asset classes and regions. It serves its client base via five regional teams namely Africa, the United Kingdom, Asia Pacific, the Americas and Europe and across two distribution channels Institutional and Advisor. Institutional clients include private and public sector pension funds, sovereign wealth funds, insurers, corporates, foundations and central banks, while Advisor clients include large retail groups, wealth managers, private banks and intermediaries serving individual investors. Geographically, it derives a majority of revenue from the United Kingdom and others.
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