Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
British American Tobacco KenyaNAI:BAT -0.17%69 Net Current Asset Value is KES57.98 as of Dec. 2025, which is 100% below its 10-year median of 9.17. GuruFocus rates NAI:BAT with a GF Score™ of 69/100 and a GF Value™ of KES355.31 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 29 Tobacco Products companies, British American Tobacco Kenya ranks worse than 68.97% 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).
British American Tobacco Kenya's net current asset value per share for the quarter that ended in Dec. 2025 was KES57.98.
The historical rank and industry rank for British American Tobacco Kenya's Net Current Asset Value or its related term are showing as below:
NAI:BAT'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 6.63 Med: 9.17 Max: 38.32
Current: 9.99
During the past 7 years, the highest Price-to-Net-Current-Asset-Value Ratio of British American Tobacco Kenya was 38.32. The lowest was 6.63. And the median was 9.17.
NAI:BAT's Price-to-Net-Current-Asset-Value is ranked worse than 68.97% of 29
companies
in the Tobacco Products industry
Industry Median: 6.86
vs NAI:BAT: 9.99
British American Tobacco Kenya (NAI:BAT) 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.
British American Tobacco Kenya Net Current Asset Value Related Terms
British American Tobacco Kenya 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.
British American Tobacco Kenya Net Current Asset Value Chart
NAI:BAT vs PM, MO, TPB: Net Current Asset Value Comparison
For the Tobacco subindustry, British American Tobacco Kenya'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.
British American Tobacco Kenya Price-to-Net-Current-Asset-Value vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, British American Tobacco Kenya's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where British American Tobacco Kenya'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 KES57.98 mean?
British American Tobacco Kenya (NAI:BAT) has a Net Current Asset Value of KES57.98 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 British American Tobacco Kenya and its competitors. This is 532% above median its historical median of 9.17. Over the past decade, British American Tobacco Kenya's Net Current Asset Value has ranged from 6.63 to 38.32. According to the industry distribution chart, British American Tobacco Kenya ranks #20 out of 29 companies in the Tobacco Products industry, placing it in the top 69%.
Is British American Tobacco Kenya's Net Current Asset Value too high?
British American Tobacco Kenya's current Net Current Asset Value of KES57.98 is 532% above median its 10-year median of 9.17. Over the past 10 years, this metric has ranged from a low of 6.63 to a high of 38.32. Based on the distribution chart, British American Tobacco Kenya ranks #20 out of 29 companies in the Tobacco Products industry, which is below the industry midpoint. Overall, British American Tobacco Kenya has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does British American Tobacco Kenya's Net Current Asset Value compare to PM and MO?
According to the Tobacco Products industry distribution chart, British American Tobacco Kenya ranks #20 out of 29 companies for Net Current Asset Value. This places British American Tobacco Kenya in the lower half of its industry. The industry median Net Current Asset Value is 6.86. Historically, British American Tobacco Kenya's own Net Current Asset Value has ranged from 6.63 to 38.32 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 Tobacco Products company?
The median Net Current Asset Value among Tobacco Products companies is 6.86, based on 29 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 British American Tobacco Kenya and its competitors. For the Tobacco Products industry, the median Net Current Asset Value is 6.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. British American Tobacco Kenya's current Net Current Asset Value is KES57.98, which is 532% above median its own 10-year median of 9.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is British American Tobacco Kenya stock overvalued right now?
Based on GuruFocus' analysis, British American Tobacco Kenya (NAI:BAT) is currently considered Significantly Overvalued. The stock's GF Value™ is KES355.31, compared to a current price of KES579.00 — trading 63% above its estimated fair value. The current Net Current Asset Value is KES57.98, which is 532% above median its 10-year median of 9.17. British American Tobacco Kenya's overall GF Score™ is 69/100 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 British American Tobacco Kenya (NAI:BAT), the current Net Current Asset Value is KES57.98 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 British American Tobacco Kenya (NAI:BAT) Overvalued in 2026?
Based on GuruFocus' analysis, British American Tobacco Kenya stock appears to be overvalued.
The current stock price of KES579.00 is trading 63% above its estimated GF Value™ of KES355.31.
GuruFocus considers British American Tobacco Kenya to be Significantly Overvalued.
Key valuation signals for NAI:BAT:
Net Current Asset Value: KES57.98 (532% above median its 10-year median of 9.17)
GF Value™: KES355.31 vs. price of KES579.00 (63% above fair value)
No single metric tells the full story. See the NAI:BAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
British American Tobacco Kenya Business Description
British American Tobacco Kenya PLC multi-category consumer goods business that operates internationally. The business activities of the company involves activities ranging from the growing of tobacco leaf to the distribution and sale of finished tobacco products and nicotine products without tobacco. The product portfolio of the company comprises a range of high-quality and creative products, including cigarettes (combustible products), cut-rug tobacco (unprocessed tobacco), and potentially reduced-risk category of tobacco-free oral nicotine products.
69GF Score
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Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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