Pulse BiosciencesPLSE +3.03%31 Net Current Asset Value is $0.82 as of Mar. 2026, which is 93% below its 10-year median of 11.69. GuruFocus rates PLSE with a GF Score™ of 31/100. The stock has 3 warning signs investors should review. Among 565 Medical Devices & Instruments companies, Pulse Biosciences ranks worse than 92.39% 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).
Pulse Biosciences's net current asset value per share for the quarter that ended in Mar. 2026 was $0.82.
The historical rank and industry rank for Pulse Biosciences's Net Current Asset Value or its related term are showing as below:
PLSE'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 2.92 Med: 11.69 Max: 332.65
Current: 35.6
During the past 12 years, the highest Price-to-Net-Current-Asset-Value Ratio of Pulse Biosciences was 332.65. The lowest was 2.92. And the median was 11.69.
PLSE's Price-to-Net-Current-Asset-Value is ranked worse than 92.39% of 565
companies
in the Medical Devices & Instruments industry
Industry Median: 5
vs PLSE: 35.60
Pulse Biosciences (NAS:PLSE) 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.
Pulse Biosciences Net Current Asset Value Related Terms
Pulse Biosciences Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Pulse Biosciences'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.
PLSE vs LMAT, XRAY, KMTS: Net Current Asset Value Comparison
For the Medical Instruments & Supplies subindustry, Pulse Biosciences'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.
Pulse Biosciences Price-to-Net-Current-Asset-Value vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Pulse Biosciences's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Pulse Biosciences'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 $0.82 mean?
Pulse Biosciences (PLSE) has a Net Current Asset Value of $0.82 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 Pulse Biosciences and its competitors. This is 93% below median its historical median of 11.69. Over the past decade, Pulse Biosciences' Net Current Asset Value has ranged from 2.92 to 332.65. According to the industry distribution chart, Pulse Biosciences ranks #522 out of 565 companies in the Medical Devices & Instruments industry, placing it in the top 92.4%.
Is Pulse Biosciences' Net Current Asset Value too high?
Pulse Biosciences' current Net Current Asset Value of $0.82 is 93% below median its 10-year median of 11.69. Over the past 10 years, this metric has ranged from a low of 2.92 to a high of 332.65. The Medical Devices & Instruments industry median Net Current Asset Value is 5.00. Pulse Biosciences' value of $0.82 is 83.6% below this industry median. Based on the distribution chart, Pulse Biosciences ranks #522 out of 565 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Pulse Biosciences has a GF Score™ of 31/100, reflecting its overall financial health beyond just this single metric.
How does Pulse Biosciences' Net Current Asset Value compare to LMAT and XRAY?
According to the Medical Devices & Instruments industry distribution chart, Pulse Biosciences ranks #522 out of 565 companies for Net Current Asset Value. This places Pulse Biosciences in the lower half of its industry. The industry median Net Current Asset Value is 5.00. Pulse Biosciences' value of $0.82 is 83.6% below this benchmark. Historically, Pulse Biosciences' own Net Current Asset Value has ranged from 2.92 to 332.65 over the past decade. While the company's 10-year median is 11.69 vs. the industry median of 5.00, Pulse Biosciences 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 Medical Devices & Instruments company?
The median Net Current Asset Value among Medical Devices & Instruments companies is 5.00, based on 565 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. Pulse Biosciences's current Net Current Asset Value of $0.82 is 83.6% 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 Pulse Biosciences and its competitors. For the Medical Devices & Instruments industry, the median Net Current Asset Value is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pulse Biosciences's current Net Current Asset Value is $0.82, which is 93% below median its own 10-year median of 11.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pulse Biosciences stock overvalued right now?
Pulse Biosciences (PLSE) has a current Net Current Asset Value of $0.82. The current Net Current Asset Value is $0.82, which is 93% below median its 10-year median of 11.69 and 83.6% below the Medical Devices & Instruments industry median of 5.00. Pulse Biosciences' overall GF Score™ is 31/100 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 Pulse Biosciences (PLSE), the current Net Current Asset Value is $0.82 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.
Pulse Biosciences Inc is a novel bioelectric medicine company committed to health innovation using its patented Nano-Pulse Stimulation technology, a revolutionary energy modality that delivers nanosecond-duration pulses of electrical energy, each less than a millionth of a second long, to non-thermally clear targeted cells while sparing adjacent noncellular tissue. NPS technology, also referred to as Nanosecond Pulsed Field Ablation (nsPFA) technology delivers nanosecond pulses of electrical energy to nonthermally clear cells while sparing adjacent noncellular tissue.
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