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).
National Bankshares's net current asset value per share for the quarter that ended in Mar. 2026 was $0.00.
The historical rank and industry rank for National Bankshares's Net Current Asset Value or its related term are showing as below:
NKSH's Price-to-Net-Current-Asset-Value is not ranked *
in the Banks industry.
Industry Median: 1.15 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
National Bankshares (NAS:NKSH) 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.
National Bankshares Net Current Asset Value Related Terms
National Bankshares Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for National Bankshares'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.
NKSH vs INBK, MRBK, FBLA: Net Current Asset Value Comparison
For the Banks - Regional subindustry, National Bankshares'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.
National Bankshares Price-to-Net-Current-Asset-Value vs Banks Industry
For the Banks industry and Financial Services sector, National Bankshares's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where National Bankshares'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 $0.00 mean?
National Bankshares (NKSH) has a Net Current Asset Value of $0.00 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 National Bankshares and its competitors. According to the industry distribution chart, National Bankshares ranks #999999 out of 23 companies in the Banks industry.
Is National Bankshares' Net Current Asset Value too high?
National Bankshares' current Net Current Asset Value is $0.00. Based on the distribution chart, National Bankshares ranks #999999 out of 23 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, National Bankshares has a GF Score™ of 64/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Bankshares' Net Current Asset Value compare to INBK and MRBK?
According to the Banks industry distribution chart, National Bankshares ranks #999999 out of 23 companies for Net Current Asset Value. This places National Bankshares in the lower half of its industry. The industry median Net Current Asset Value is 1.15. 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 Banks company?
The median Net Current Asset Value among Banks companies is 1.15, based on 23 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 National Bankshares and its competitors. For the Banks industry, the median Net Current Asset Value is 1.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Bankshares's current Net Current Asset Value is $0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Bankshares stock overvalued right now?
Based on GuruFocus' analysis, National Bankshares (NKSH) is currently considered Modestly Overvalued. The stock's GF Value™ is $32.85, compared to a current price of $36.50 — trading 11.1% above its estimated fair value. The current Net Current Asset Value is $0.00. National Bankshares' overall GF Score™ is 64/100 with 4 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 National Bankshares (NKSH), the current Net Current Asset Value is $0.00 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 National Bankshares (NKSH) Overvalued in 2026?
Based on GuruFocus' analysis, National Bankshares stock appears to be overvalued.
The current stock price of $36.50 is trading 11.1% above its estimated GF Value™ of $32.85.
GuruFocus considers National Bankshares to be Modestly Overvalued.
Key valuation signals for NKSH:
Net Current Asset Value: $0.00
GF Value™: $32.85 vs. price of $36.50 (11.1% above fair value)
No single metric tells the full story. See the NKSH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Bankshares Inc is a bank holding company. It focuses on lending to small and mid-sized businesses and individuals. The types of loans it offers include commercial and agricultural loans, commercial real estate, construction loans for commercial and residential properties, residential real estate, home equity, and various consumer loan products. It also operates an insurance and brokerage subsidiary. The company earns its revenue from interest and fees on loans, non-interest income, and investments.
64GF Score
Get the complete analysis for NKSH
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