Associated British EngineeringLSE:ASBE +14.29%34 Net Current Asset Value is £0.12 as of Mar. 2026, which is 100% below its 10-year median of 0.83. GuruFocus rates LSE:ASBE with a GF Score™ of 34/100. The stock has 2 warning signs investors should review. Among 503 Capital Markets companies, Associated British Engineering ranks better than 67% 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).
The historical rank and industry rank for Associated British Engineering's Net Current Asset Value or its related term are showing as below:
LSE:ASBE'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.65 Med: 0.83 Max: 5
Current: 1.67
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Associated British Engineering was 5.00. The lowest was 0.65. And the median was 0.83.
LSE:ASBE's Price-to-Net-Current-Asset-Value is ranked better than 67% of 503
companies
in the Capital Markets industry
Industry Median: 2.85
vs LSE:ASBE: 1.67
Associated British Engineering (LSE:ASBE) 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.
Associated British Engineering Net Current Asset Value Related Terms
Associated British Engineering 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.
Associated British Engineering Net Current Asset Value Chart
LSE:ASBE vs MS, GS, SCHW: Net Current Asset Value Comparison
For the Capital Markets subindustry, Associated British Engineering'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.
Associated British Engineering Price-to-Net-Current-Asset-Value vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Associated British Engineering's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Associated British Engineering'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 £0.12 mean?
Associated British Engineering (LSE:ASBE) has a Net Current Asset Value of £0.12 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 Associated British Engineering and its competitors. This is 86% below median its historical median of 0.83. Over the past decade, Associated British Engineering's Net Current Asset Value has ranged from 0.65 to 5.00. According to the industry distribution chart, Associated British Engineering ranks #166 out of 503 companies in the Capital Markets industry, placing it in the top 33%.
Is Associated British Engineering's Net Current Asset Value too high?
Associated British Engineering's current Net Current Asset Value of £0.12 is 86% below median its 10-year median of 0.83. Over the past 10 years, this metric has ranged from a low of 0.65 to a high of 5.00. Based on the distribution chart, Associated British Engineering ranks #166 out of 503 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Associated British Engineering has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.
How does Associated British Engineering's Net Current Asset Value compare to MS and GS?
According to the Capital Markets industry distribution chart, Associated British Engineering ranks #166 out of 503 companies for Net Current Asset Value. This puts Associated British Engineering in the upper half of its industry. The industry median Net Current Asset Value is 2.85. Historically, Associated British Engineering's own Net Current Asset Value has ranged from 0.65 to 5.00 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 Capital Markets company?
The median Net Current Asset Value among Capital Markets companies is 2.85, based on 503 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 Associated British Engineering and its competitors. For the Capital Markets industry, the median Net Current Asset Value is 2.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Associated British Engineering's current Net Current Asset Value is £0.12, which is 86% below median its own 10-year median of 0.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Associated British Engineering stock overvalued right now?
Associated British Engineering (LSE:ASBE) has a current Net Current Asset Value of £0.12. The current Net Current Asset Value is £0.12, which is 86% below median its 10-year median of 0.83. Associated British Engineering's overall GF Score™ is 34/100 with 2 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 Associated British Engineering (LSE:ASBE), the current Net Current Asset Value is £0.12 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.
Associated British Engineering Business Description
Associated British Engineering Plc is a United Kingdom-based holding company. The Company's segments include Associated British Engineering Plc and Akoris Trading Limited. Akoris Trading Limited, its subsidiary, is a commodity and natural resource trading, finance, and investment company. Its operations are located in the United Kingdom.
34GF Score
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