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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).
Merko Ehitus AS's net current asset value per share for the quarter that ended in Jun. 2026 was €9.31.
The historical rank and industry rank for Merko Ehitus AS's Net Current Asset Value or its related term are showing as below:
STU:MKS'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.36 Med: 2.15 Max: 3.45
Current: 2.87
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Merko Ehitus AS was 3.45. The lowest was 1.36. And the median was 2.15.
STU:MKS's Price-to-Net-Current-Asset-Value is ranked better than 56.2% of 1073
companies
in the Construction industry
Industry Median: 3.39
vs STU:MKS: 2.87
Merko Ehitus AS (STU:MKS) 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.
Merko Ehitus AS Net Current Asset Value Related Terms
Merko Ehitus AS Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Merko Ehitus AS'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.
STU:MKS vs PWR, FIX, EME: Net Current Asset Value Comparison
For the Engineering & Construction subindustry, Merko Ehitus AS'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.
Merko Ehitus AS Price-to-Net-Current-Asset-Value vs Construction Industry
For the Construction industry and Industrials sector, Merko Ehitus AS's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Merko Ehitus AS'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 €9.31 mean?
Merko Ehitus AS (STU:MKS) has a Net Current Asset Value of €9.31 as of Jun. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Merko Ehitus AS and its competitors. According to the industry distribution chart, Merko Ehitus AS ranks #470 out of 1073 companies in the Construction industry, placing it in the top 43.8%.
Is Merko Ehitus AS's Net Current Asset Value too high?
Merko Ehitus AS's current Net Current Asset Value is €9.31. Based on the distribution chart, Merko Ehitus AS ranks #470 out of 1073 companies in the Construction industry, which is above the industry midpoint. Overall, Merko Ehitus AS has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Merko Ehitus AS's Net Current Asset Value compare to PWR and FIX?
According to the Construction industry distribution chart, Merko Ehitus AS ranks #470 out of 1073 companies for Net Current Asset Value. This puts Merko Ehitus AS in the upper half of its industry. The industry median Net Current Asset Value is 3.39. 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 3.39, based on 1,073 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 Merko Ehitus AS and its competitors. For the Construction industry, the median Net Current Asset Value is 3.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merko Ehitus AS's current Net Current Asset Value is €9.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merko Ehitus AS stock overvalued right now?
Based on GuruFocus' analysis, Merko Ehitus AS (STU:MKS) is currently considered Significantly Overvalued. The stock's GF Value™ is €13.39, compared to a current price of €26.50 — trading 97.9% above its estimated fair value. The current Net Current Asset Value is €9.31. Merko Ehitus AS's overall GF Score™ is 70/100 with 9 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 Merko Ehitus AS (STU:MKS), the current Net Current Asset Value is €9.31 as of Jun. 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 Merko Ehitus AS (STU:MKS) Overvalued in 2026?
Based on GuruFocus' analysis, Merko Ehitus AS stock appears to be overvalued.
The current stock price of €26.50 is trading 97.9% above its estimated GF Value™ of €13.39.
GuruFocus considers Merko Ehitus AS to be Significantly Overvalued.
Key valuation signals for STU:MKS:
Net Current Asset Value: €9.31
GF Value™: €13.39 vs. price of €26.50 (97.9% above fair value)
No single metric tells the full story. See the STU:MKS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Merko Ehitus AS is a construction company. The company is engaged in the business of general contracting of construction and on providing complete solutions in professional construction and real estate development. The company operates under two reportable segments: construction service and real estate development. Construction service contributes to the majority of the revenue. The Construction service segment includes all projects of the home markets in general construction, civil engineering, electrical construction and concrete works services. The firm operates mainly in Estonia, Lithuania, Latvia, and Norway. Geographically, the company generates the majority of its revenue from Estonia.
70GF Score
Get the complete analysis for STU:MKS
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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