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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).
KUW:SHIP's Price-to-Net-Current-Asset-Value is not ranked *
in the Construction industry.
Industry Median: 3.19 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Heavy Engineering Industries and Shipbuilding Co KSC (KUW:SHIP) 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.
Heavy Engineering Industries and Shipbuilding Co KSC Net Current Asset Value Related Terms
Heavy Engineering Industries and Shipbuilding Co KSC Net Current Asset Value Historical Data
* 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.
Heavy Engineering Industries and Shipbuilding Co KSC Net Current Asset Value Chart
Heavy Engineering Industries and Shipbuilding Co KSC Annual Data
KUW:SHIP vs PWR, FIX, EME: Net Current Asset Value Comparison
For the Engineering & Construction subindustry, Heavy Engineering Industries and Shipbuilding Co KSC'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.
Heavy Engineering Industries and Shipbuilding Co KSC Price-to-Net-Current-Asset-Value vs Construction Industry
* 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 KWD-0.05 mean?
Heavy Engineering Industries and Shipbuilding Co KSC (KUW:SHIP) has a Net Current Asset Value of KWD-0.05 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 Heavy Engineering Industries and Shipbuilding Co KSC and its competitors. Over the past decade, Heavy Engineering Industries and Shipbuilding Co KSC's Net Current Asset Value has ranged from 10.95 to 15.21. According to the industry distribution chart, Heavy Engineering Industries and Shipbuilding Co KSC ranks #999999 out of 1061 companies in the Construction industry.
Is Heavy Engineering Industries and Shipbuilding Co KSC's Net Current Asset Value too high?
Heavy Engineering Industries and Shipbuilding Co KSC's current Net Current Asset Value is KWD-0.05. Over the past 10 years, this metric has ranged from a low of 10.95 to a high of 15.21. Based on the distribution chart, Heavy Engineering Industries and Shipbuilding Co KSC ranks #999999 out of 1061 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Heavy Engineering Industries and Shipbuilding Co KSC has a GF Score™ of 80/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Heavy Engineering Industries and Shipbuilding Co KSC's Net Current Asset Value compare to PWR and FIX?
According to the Construction industry distribution chart, Heavy Engineering Industries and Shipbuilding Co KSC ranks #999999 out of 1061 companies for Net Current Asset Value. This places Heavy Engineering Industries and Shipbuilding Co KSC in the lower half of its industry. The industry median Net Current Asset Value is 3.19. Historically, Heavy Engineering Industries and Shipbuilding Co KSC's own Net Current Asset Value has ranged from 10.95 to 15.21 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 Construction company?
The median Net Current Asset Value among Construction companies is 3.19, based on 1,061 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 Heavy Engineering Industries and Shipbuilding Co KSC and its competitors. For the Construction industry, the median Net Current Asset Value is 3.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heavy Engineering Industries and Shipbuilding Co KSC's current Net Current Asset Value is KWD-0.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heavy Engineering Industries and Shipbuilding Co KSC stock overvalued right now?
Based on GuruFocus' analysis, Heavy Engineering Industries and Shipbuilding Co KSC (KUW:SHIP) is currently considered Possible Value Trap. The stock's GF Value™ is KWD1.04, compared to a current price of KWD0.67 — trading 35.7% below its estimated fair value. The current Net Current Asset Value is KWD-0.05. Heavy Engineering Industries and Shipbuilding Co KSC's overall GF Score™ is 80/100 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 Heavy Engineering Industries and Shipbuilding Co KSC (KUW:SHIP), the current Net Current Asset Value is KWD-0.05 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 Heavy Engineering Industries and Shipbuilding Co KSC (KUW:SHIP) Overvalued in 2026?
Based on GuruFocus' analysis, Heavy Engineering Industries and Shipbuilding Co KSC stock appears to be undervalued.
The current stock price of KWD0.67 is trading 35.7% below its estimated GF Value™ of KWD1.04.
GuruFocus considers Heavy Engineering Industries and Shipbuilding Co KSC to be Possible Value Trap.
Key valuation signals for KUW:SHIP:
Net Current Asset Value: KWD-0.05
GF Value™: KWD1.04 vs. price of KWD0.67 (35.7% below fair value)
No single metric tells the full story. See the KUW:SHIP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heavy Engineering Industries and Shipbuilding Co KSC Business Description
Heavy Engineering Industries and Shipbuilding Co KSC is engaged in engineering, procurement, and construction (EPC) contracting, focusing on the shipping and maritime industry in Kuwait. The Company serves sectors including oil and gas, refineries, petrochemicals, power, water distillation and desalination, shipbuilding, ship repair, dredging, and maritime construction. Its activities include industrial and marine works, installation and maintenance services, trading of equipment and spare parts, and contracting and tendering with international companies. It also provides services such as shipyard operations, fabrication, testing and calibration, quality control, scaffolding, galvanizing, onshore and offshore operations, technical manpower supply, and design and engineering services.
80GF Score
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