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).
Construction Partners's net current asset value per share for the quarter that ended in Mar. 2026 was $-28.26.
The historical rank and industry rank for Construction Partners's Net Current Asset Value or its related term are showing as below:
During the past 10 years, the highest Price-to-Net-Current-Asset-Value Ratio of Construction Partners was 285.45. The lowest was 5.85. And the median was 12.79.
ROAD's Price-to-Net-Current-Asset-Value is not ranked *
in the Construction industry.
Industry Median: 3.225 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Construction Partners (NAS:ROAD) 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.
Construction Partners Net Current Asset Value Related Terms
Construction Partners Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Construction Partners'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.
Construction Partners Net Current Asset Value Chart
ROAD vs GVA, ACA, MYRG: Net Current Asset Value Comparison
For the Engineering & Construction subindustry, Construction Partners'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.
Construction Partners Price-to-Net-Current-Asset-Value vs Construction Industry
For the Construction industry and Industrials sector, Construction Partners's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Construction Partners'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 $-28.26 mean?
Construction Partners (ROAD) has a Net Current Asset Value of $-28.26 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 Construction Partners and its competitors. Over the past decade, Construction Partners' Net Current Asset Value has ranged from 5.85 to 285.45. According to the industry distribution chart, Construction Partners ranks #999999 out of 1054 companies in the Construction industry.
Is Construction Partners' Net Current Asset Value too high?
Construction Partners' current Net Current Asset Value is $-28.26. Over the past 10 years, this metric has ranged from a low of 5.85 to a high of 285.45. Based on the distribution chart, Construction Partners ranks #999999 out of 1054 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Construction Partners has a GF Score™ of 91/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Construction Partners' Net Current Asset Value compare to GVA and ACA?
According to the Construction industry distribution chart, Construction Partners ranks #999999 out of 1054 companies for Net Current Asset Value. This places Construction Partners in the lower half of its industry. The industry median Net Current Asset Value is 3.23. Historically, Construction Partners' own Net Current Asset Value has ranged from 5.85 to 285.45 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 Construction company?
The median Net Current Asset Value among Construction companies is 3.23, based on 1,054 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 Construction Partners and its competitors. For the Construction industry, the median Net Current Asset Value is 3.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Construction Partners's current Net Current Asset Value is $-28.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Construction Partners stock overvalued right now?
Based on GuruFocus' analysis, Construction Partners (ROAD) is currently considered Fairly Valued. The stock's GF Value™ is $120.83, compared to a current price of $122.53 — trading 1.4% above its estimated fair value. The current Net Current Asset Value is $-28.26. Construction Partners' overall GF Score™ is 91/100 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 Construction Partners (ROAD), the current Net Current Asset Value is $-28.26 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 Construction Partners (ROAD) Overvalued in 2026?
Based on GuruFocus' analysis, Construction Partners stock appears to be overvalued.
The current stock price of $122.53 is trading 1.4% above its estimated GF Value™ of $120.83.
GuruFocus considers Construction Partners to be Fairly Valued.
Key valuation signals for ROAD:
Net Current Asset Value: $-28.26
GF Value™: $120.83 vs. price of $122.53 (1.4% above fair value)
No single metric tells the full story. See the ROAD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Construction Partners Inc operates as a civil infrastructure company. It specializes in the construction and maintenance of roadways. The company through its subsidiaries, provides various products and services to both public and private infrastructure projects, with an emphasis on highways, roads, bridges, airports, and commercial and residential developments. Its operations consist of manufacturing and distributing hot mix asphalt, paving activities, including the construction of roadway base layers and application of asphalt pavement, site development, including the installation of utility and drainage systems, and others. The company has a single segment which predominantly consists of infrastructure and road construction, and operates across various states in the United States.
91GF Score
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