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SpurJSE:SUR -0.95%89 Net Current Asset Value is R2.27 as of Dec. 2025, which is 100% below its 10-year median of 11.71. GuruFocus rates JSE:SUR with a GF Score™ of 89/100 and a GF Value™ of R40.90 (Fairly Valued). The stock has 9 warning signs investors should review. Among 73 Restaurants companies, Spur ranks worse than 71.23% 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).
Spur's net current asset value per share for the quarter that ended in Dec. 2025 was R2.27.
The historical rank and industry rank for Spur's Net Current Asset Value or its related term are showing as below:
JSE:SUR'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 5.99 Med: 11.71 Max: 283.17
Current: 17.89
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Spur was 283.17. The lowest was 5.99. And the median was 11.71.
JSE:SUR's Price-to-Net-Current-Asset-Value is ranked worse than 71.23% of 73
companies
in the Restaurants industry
Industry Median: 10.35
vs JSE:SUR: 17.89
Spur (JSE:SUR) 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.
Spur Net Current Asset Value Related Terms
Spur Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Spur'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:SUR vs MCD, SBUX, YUM: Net Current Asset Value Comparison
For the Restaurants subindustry, Spur'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.
Spur Price-to-Net-Current-Asset-Value vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Spur's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Spur'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 R2.27 mean?
Spur (JSE:SUR) has a Net Current Asset Value of R2.27 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 Spur and its competitors. This is 81% below median its historical median of 11.71. Over the past decade, Spur's Net Current Asset Value has ranged from 5.99 to 283.17. According to the industry distribution chart, Spur ranks #52 out of 73 companies in the Restaurants industry, placing it in the top 71.2%.
Is Spur's Net Current Asset Value too high?
Spur's current Net Current Asset Value of R2.27 is 81% below median its 10-year median of 11.71. Over the past 10 years, this metric has ranged from a low of 5.99 to a high of 283.17. Based on the distribution chart, Spur ranks #52 out of 73 companies in the Restaurants industry, which is below the industry midpoint. Overall, Spur has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Spur's Net Current Asset Value compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Spur ranks #52 out of 73 companies for Net Current Asset Value. This places Spur in the lower half of its industry. The industry median Net Current Asset Value is 10.35. Historically, Spur's own Net Current Asset Value has ranged from 5.99 to 283.17 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 Restaurants company?
The median Net Current Asset Value among Restaurants companies is 10.35, based on 73 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 Spur and its competitors. For the Restaurants industry, the median Net Current Asset Value is 10.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spur's current Net Current Asset Value is R2.27, which is 81% below median its own 10-year median of 11.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spur stock overvalued right now?
Based on GuruFocus' analysis, Spur (JSE:SUR) is currently considered Fairly Valued. The stock's GF Value™ is R40.90, compared to a current price of R40.61 — trading 0.7% below its estimated fair value. The current Net Current Asset Value is R2.27, which is 81% below median its 10-year median of 11.71. Spur's overall GF Score™ is 89/100 with 9 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 Spur (JSE:SUR), the current Net Current Asset Value is R2.27 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 Spur (JSE:SUR) Overvalued in 2026?
Based on GuruFocus' analysis, Spur stock appears to be undervalued.
The current stock price of R40.61 is trading 0.7% below its estimated GF Value™ of R40.90.
GuruFocus considers Spur to be Fairly Valued.
Key valuation signals for JSE:SUR:
Net Current Asset Value: R2.27 (81% below median its 10-year median of 11.71)
GF Value™: R40.90 vs. price of R40.61 (0.7% below fair value)
No single metric tells the full story. See the JSE:SUR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spur Corp Ltd is a South African multi-brand restaurant franchisor. The group operates as franchisor for the Spur Steak Ranches, Panarottis Pizza Pasta, John Dory's Fish Grill Sushi, The Hussar Grill, RocoMamas (including RocoGo), Casa Bella, Nikos, Doppio Zero and Piza e Vino brands. The company's segment includes South Africa and International segment. South Africa segment include: Franchise, Manufacturing and distribution, Retail company stores, Marketing and Other. International segment include Australasia, Rest of Africa and Middle East and Marketing. Key revenue is generated from South Africa segment.
89GF Score
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