ETS Engineering and Technical Services SpAMIL:ETS +1.52%21 Net Current Asset Value is €2.28 as of Dec. 2025, which is 100% below its 10-year median of 2.28. GuruFocus rates MIL:ETS with a GF Score™ of 21/100. The stock has 5 warning signs investors should review. Among 1,055 Construction companies, ETS Engineering and Technical Services SpA ranks better than 53.65% 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).
MIL:ETS'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 2.28 Med: 2.28 Max: 2.94
Current: 2.94
During the past 3 years, the highest Price-to-Net-Current-Asset-Value Ratio of ETS Engineering and Technical Services SpA was 2.94. The lowest was 2.28. And the median was 2.28.
MIL:ETS's Price-to-Net-Current-Asset-Value is ranked better than 53.65% of 1055
companies
in the Construction industry
Industry Median: 3.25
vs MIL:ETS: 2.94
ETS Engineering and Technical Services SpA (MIL:ETS) 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.
ETS Engineering and Technical Services SpA Net Current Asset Value Related Terms
ETS Engineering and Technical Services SpA 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.
ETS Engineering and Technical Services SpA Net Current Asset Value Chart
ETS Engineering and Technical Services SpA Annual Data
Trend
Dec23
Dec24
Dec25
Net Current Asset Value
0.69
1.11
2.28
ETS Engineering and Technical Services SpA Semi-Annual Data
Dec23
Dec24
Dec25
Net Current Asset Value
0.69
1.11
2.28
MIL:ETS vs PWR, FIX, EME: Net Current Asset Value Comparison
For the Engineering & Construction subindustry, ETS Engineering and Technical Services SpA'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.
ETS Engineering and Technical Services SpA Price-to-Net-Current-Asset-Value vs Construction Industry
For the Construction industry and Industrials sector, ETS Engineering and Technical Services SpA's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where ETS Engineering and Technical Services SpA'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 €2.28 mean?
ETS Engineering and Technical Services SpA (MIL:ETS) has a Net Current Asset Value of €2.28 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 ETS Engineering and Technical Services SpA and its competitors. This is near median its historical median of 2.28. Over the past decade, ETS Engineering and Technical Services SpA's Net Current Asset Value has ranged from 2.28 to 2.94. According to the industry distribution chart, ETS Engineering and Technical Services SpA ranks #489 out of 1055 companies in the Construction industry, placing it in the top 46.4%.
Is ETS Engineering and Technical Services SpA's Net Current Asset Value too high?
ETS Engineering and Technical Services SpA's current Net Current Asset Value of €2.28 is near median its 10-year median of 2.28. Over the past 10 years, this metric has ranged from a low of 2.28 to a high of 2.94. Based on the distribution chart, ETS Engineering and Technical Services SpA ranks #489 out of 1055 companies in the Construction industry, which is above the industry midpoint. Overall, ETS Engineering and Technical Services SpA has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does ETS Engineering and Technical Services SpA's Net Current Asset Value compare to PWR and FIX?
According to the Construction industry distribution chart, ETS Engineering and Technical Services SpA ranks #489 out of 1055 companies for Net Current Asset Value. This puts ETS Engineering and Technical Services SpA in the upper half of its industry. The industry median Net Current Asset Value is 3.25. Historically, ETS Engineering and Technical Services SpA's own Net Current Asset Value has ranged from 2.28 to 2.94 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 3.25, based on 1,055 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 ETS Engineering and Technical Services SpA and its competitors. For the Construction industry, the median Net Current Asset Value is 3.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ETS Engineering and Technical Services SpA's current Net Current Asset Value is €2.28, which is near median its own 10-year median of 2.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ETS Engineering and Technical Services SpA stock overvalued right now?
ETS Engineering and Technical Services SpA (MIL:ETS) has a current Net Current Asset Value of €2.28. The current Net Current Asset Value is €2.28, which is near median its 10-year median of 2.28. ETS Engineering and Technical Services SpA's overall GF Score™ is 21/100 with 5 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 ETS Engineering and Technical Services SpA (MIL:ETS), the current Net Current Asset Value is €2.28 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.
ETS Engineering and Technical Services SpA Business Description
ETS Engineering and Technical Services SpA is an engineering company. The company offers integrated services in civil and systems engineering. It provides end-to-end solutions from feasibility studies and energy diagnostics to design, project management, and site supervision, ensuring efficiency, cost control, and technical excellence for both public and private clients.
21GF Score
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