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).
Nomura Real Estate Holdings's net current asset value per share for the quarter that ended in Mar. 2026 was $-2.68.
The historical rank and industry rank for Nomura Real Estate Holdings's Net Current Asset Value or its related term are showing as below:
NMEHF's Price-to-Net-Current-Asset-Value is not ranked *
in the Real Estate industry.
Industry Median: 2.16 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Nomura Real Estate Holdings (OTCPK:NMEHF) 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.
Nomura Real Estate Holdings Net Current Asset Value Related Terms
Nomura Real Estate Holdings 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.
Nomura Real Estate Holdings Net Current Asset Value Chart
NMEHF vs CBRE, BEKE, JLL: Net Current Asset Value Comparison
For the Real Estate Services subindustry, Nomura Real Estate Holdings'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.
Nomura Real Estate Holdings Price-to-Net-Current-Asset-Value vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Nomura Real Estate Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Nomura Real Estate Holdings'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 $-2.68 mean?
Nomura Real Estate Holdings (NMEHF) has a Net Current Asset Value of $-2.68 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 Nomura Real Estate Holdings and its competitors. According to the industry distribution chart, Nomura Real Estate Holdings ranks #999999 out of 757 companies in the Real Estate industry.
Is Nomura Real Estate Holdings' Net Current Asset Value too high?
Nomura Real Estate Holdings' current Net Current Asset Value is $-2.68. Based on the distribution chart, Nomura Real Estate Holdings ranks #999999 out of 757 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Nomura Real Estate Holdings has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Nomura Real Estate Holdings' Net Current Asset Value compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Nomura Real Estate Holdings ranks #999999 out of 757 companies for Net Current Asset Value. This places Nomura Real Estate Holdings in the lower half of its industry. The industry median Net Current Asset Value is 2.16. 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 Real Estate company?
The median Net Current Asset Value among Real Estate companies is 2.16, based on 757 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 Nomura Real Estate Holdings and its competitors. For the Real Estate industry, the median Net Current Asset Value is 2.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nomura Real Estate Holdings's current Net Current Asset Value is $-2.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nomura Real Estate Holdings stock overvalued right now?
Based on GuruFocus' analysis, Nomura Real Estate Holdings (NMEHF) is currently considered Modestly Undervalued. The stock's GF Value™ is $6.39, compared to a current price of $5.77 — trading 9.7% below its estimated fair value. The current Net Current Asset Value is $-2.68. Nomura Real Estate Holdings' overall GF Score™ is 86/100 with 3 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 Nomura Real Estate Holdings (NMEHF), the current Net Current Asset Value is $-2.68 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 Nomura Real Estate Holdings (NMEHF) Overvalued in 2026?
Based on GuruFocus' analysis, Nomura Real Estate Holdings stock appears to be undervalued.
The current stock price of $5.77 is trading 9.7% below its estimated GF Value™ of $6.39.
GuruFocus considers Nomura Real Estate Holdings to be Modestly Undervalued.
Key valuation signals for NMEHF:
Net Current Asset Value: $-2.68
GF Value™: $6.39 vs. price of $5.77 (9.7% below fair value)
No single metric tells the full story. See the NMEHF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nomura Real Estate Holdings Inc comprises Nomura Real Estate Development and other group companies. It operates in residential development, leasing, investment management, property brokerage, commercial real estate, property management, and other areas. Residential development is the leading business and provides a diverse group of services. Condominiums and detached housing are among the various property types offered. The group launches numerous properties under its branded names, like Proud and Ohana, in various parts of the Tokyo metropolitan area. In addition to commercial property development, the group provides corporate real estate brokerage and architectural design.
86GF Score
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