Merafe ResourcesMERFF 65 Net Current Asset Value is $0.08 as of Dec. 2025, which is 92% below its 10-year median of 1.03. GuruFocus rates MERFF with a GF Score™ of 65/100 and a GF Value™ of $0.17. The stock has 9 warning signs investors should review. Among 1,334 Metals & Mining companies, Merafe Resources ranks better than 96.85% 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).
Merafe Resources's net current asset value per share for the quarter that ended in Dec. 2025 was $0.08.
The historical rank and industry rank for Merafe Resources's Net Current Asset Value or its related term are showing as below:
MERFF'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.59 Med: 1.03 Max: 6.35
Current: 0.95
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Merafe Resources was 6.35. The lowest was 0.59. And the median was 1.03.
MERFF's Price-to-Net-Current-Asset-Value is ranked better than 96.85% of 1334
companies
in the Metals & Mining industry
Industry Median: 6.665
vs MERFF: 0.95
Merafe Resources (OTCPK:MERFF) 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.
Merafe Resources Net Current Asset Value Related Terms
Merafe Resources Net Current Asset Value Historical Data
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The historical data trend for Merafe Resources'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.
Merafe Resources Net Current Asset Value Competitor Comparison
For the Other Industrial Metals & Mining subindustry, Merafe Resources'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.
Merafe Resources Price-to-Net-Current-Asset-Value vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Merafe Resources's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Merafe Resources'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 $0.08 mean?
Merafe Resources (MERFF) has a Net Current Asset Value of $0.08 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 Merafe Resources and its competitors. This is 92% below median its historical median of 1.03. Over the past decade, Merafe Resources' Net Current Asset Value has ranged from 0.59 to 6.35. According to the industry distribution chart, Merafe Resources ranks #42 out of 1334 companies in the Metals & Mining industry, placing it in the top 3.1%.
Is Merafe Resources' Net Current Asset Value too high?
Merafe Resources' current Net Current Asset Value of $0.08 is 92% below median its 10-year median of 1.03. Over the past 10 years, this metric has ranged from a low of 0.59 to a high of 6.35. The Metals & Mining industry median Net Current Asset Value is 6.67. Merafe Resources' value of $0.08 is 98.8% below this industry median. Based on the distribution chart, Merafe Resources ranks #42 out of 1334 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Merafe Resources has a GF Score™ of 65/100, reflecting its overall financial health beyond just this single metric.
How does Merafe Resources' Net Current Asset Value compare to competitors?
According to the Metals & Mining industry distribution chart, Merafe Resources ranks #42 out of 1334 companies for Net Current Asset Value. This places Merafe Resources in the top 3% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 6.67. Merafe Resources' value of $0.08 is 98.8% below this benchmark. Historically, Merafe Resources' own Net Current Asset Value has ranged from 0.59 to 6.35 over the past decade. While the company's 10-year median is 1.03 vs. the industry median of 6.67, Merafe Resources has consistently been below the industry average. 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 Metals & Mining company?
The median Net Current Asset Value among Metals & Mining companies is 6.67, based on 1,334 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. Merafe Resources's current Net Current Asset Value of $0.08 is 98.8% below the industry median. 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 Merafe Resources and its competitors. For the Metals & Mining industry, the median Net Current Asset Value is 6.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merafe Resources's current Net Current Asset Value is $0.08, which is 92% below median its own 10-year median of 1.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merafe Resources stock overvalued right now?
Merafe Resources (MERFF) has a current Net Current Asset Value of $0.08. The stock's GF Value™ is $0.17, compared to a current price of $0.22 — trading 28.1% above its estimated fair value. The current Net Current Asset Value is $0.08, which is 92% below median its 10-year median of 1.03 and 98.8% below the Metals & Mining industry median of 6.67. Merafe Resources' overall GF Score™ is 65/100 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 Merafe Resources (MERFF), the current Net Current Asset Value is $0.08 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 Merafe Resources (MERFF) Overvalued in 2026?
Based on GuruFocus' analysis, Merafe Resources stock appears to be overvalued.
The current stock price of $0.22 is trading 28.1% above its estimated GF Value™ of $0.17.
Key valuation signals for MERFF:
Net Current Asset Value: $0.08 (92% below median its 10-year median of 1.03)
GF Value™: $0.17 vs. price of $0.22 (28.1% above fair value)
Industry Position: 98.8% below the Metals & Mining median (#42 of 1334)
No single metric tells the full story. See the MERFF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Merafe Resources Ltd through its wholly-owned subsidiary, Merafe Ferrochrome and Mining Proprietary Limited, participates in chrome mining and the beneficiation of chrome ore into ferrochrome. The Glencore-Merafe Chrome Venture (Venture) operates five ferrochrome smelters, twenty-two ferrochrome furnaces, and nine mines, situated in the North-West, Limpopo, and Mpumalanga provinces of South Africa. The company has operating mines namel Marikana West; and Kroondal Gemini. The Group has one reportable segment being the mining and beneficiation of chrome ore into ferrochrome and associated minerals. Geographically, it has its presence in Africa, Americas, Asia, China, Indonesia, Other Asia, and Europe.
65GF Score
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