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).
Pioneer Oil & Gas's net current asset value per share for the quarter that ended in Jun. 2005 was $0.57.
The historical rank and industry rank for Pioneer Oil & Gas's Net Current Asset Value or its related term are showing as below:
POGS's Price-to-Net-Current-Asset-Value is not ranked *
in the Oil & Gas industry.
Industry Median: 3.84 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Pioneer Oil & Gas (OTCPK:POGS) 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.
Pioneer Oil & Gas Net Current Asset Value Related Terms
Pioneer Oil & Gas Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Pioneer Oil & Gas'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.
POGS vs ECT, TRNX, SLNG: Net Current Asset Value Comparison
For the Oil & Gas Integrated subindustry, Pioneer Oil & Gas'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.
Pioneer Oil & Gas Price-to-Net-Current-Asset-Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Pioneer Oil & Gas's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Pioneer Oil & Gas'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 $0.57 mean?
Pioneer Oil & Gas (POGS) has a Net Current Asset Value of $0.57 as of Jun. 2005. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Pioneer Oil & Gas and its competitors.
Is Pioneer Oil & Gas' Net Current Asset Value too high?
Pioneer Oil & Gas' current Net Current Asset Value is $0.57. The Oil & Gas industry median Net Current Asset Value is 3.84. Pioneer Oil & Gas' value of $0.57 is 85.2% below this industry median.
How does Pioneer Oil & Gas' Net Current Asset Value compare to ECT and TRNX?
Pioneer Oil & Gas' Net Current Asset Value of $0.57 can be compared against companies in the Oil & Gas industry. The industry median Net Current Asset Value is 3.84. Pioneer Oil & Gas' value of $0.57 is 85.2% below this benchmark. 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 an Oil & Gas company?
The median Net Current Asset Value among Oil & Gas companies is 3.84, based on 297 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. Pioneer Oil & Gas's current Net Current Asset Value of $0.57 is 85.2% 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 Pioneer Oil & Gas and its competitors. For the Oil & Gas industry, the median Net Current Asset Value is 3.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pioneer Oil & Gas's current Net Current Asset Value is $0.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pioneer Oil & Gas stock overvalued right now?
Pioneer Oil & Gas (POGS) has a current Net Current Asset Value of $0.57. The current Net Current Asset Value is $0.57 and 85.2% below the Oil & Gas industry median of 3.84. 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 Pioneer Oil & Gas (POGS), the current Net Current Asset Value is $0.57 as of Jun. 2005. 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.
Pioneer Oil & Gas operates in the oil and gas integrated industry. The company is engaged in the business of acquiring, developing, producing, and selling oil and gas properties to companies located in the continental United States. The majority of the company's revenue is derived from royalty income.
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