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).
Synthesis Energy Systems's net current asset value per share for the quarter that ended in Dec. 2019 was $-16.70.
The historical rank and industry rank for Synthesis Energy Systems's Net Current Asset Value or its related term are showing as below:
SYNE's Price-to-Net-Current-Asset-Value is not ranked *
in the Oil & Gas industry.
Industry Median: 3.98 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Synthesis Energy Systems (OTCPK:SYNE) 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.
Synthesis Energy Systems Net Current Asset Value Related Terms
Synthesis Energy Systems Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Synthesis Energy Systems'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.
Synthesis Energy Systems Net Current Asset Value Chart
SYNE vs SMGI, ALYE, FLSS: Net Current Asset Value Comparison
For the Oil & Gas Equipment & Services subindustry, Synthesis Energy Systems'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.
Synthesis Energy Systems Price-to-Net-Current-Asset-Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Synthesis Energy Systems's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Synthesis Energy Systems'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 $-16.70 mean?
Synthesis Energy Systems (SYNE) has a Net Current Asset Value of $-16.70 as of Dec. 2019. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Synthesis Energy Systems and its competitors.
Is Synthesis Energy Systems' Net Current Asset Value too high?
Synthesis Energy Systems' current Net Current Asset Value is $-16.70. Overall, Synthesis Energy Systems has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Synthesis Energy Systems' Net Current Asset Value compare to SMGI and ALYE?
Synthesis Energy Systems' Net Current Asset Value of $-16.70 can be compared against companies in the Oil & Gas industry. The industry median Net Current Asset Value is 3.98. 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 3.98, based on 300 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 Synthesis Energy Systems and its competitors. For the Oil & Gas industry, the median Net Current Asset Value is 3.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Synthesis Energy Systems's current Net Current Asset Value is $-16.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Synthesis Energy Systems stock overvalued right now?
Synthesis Energy Systems (SYNE) has a current Net Current Asset Value of $-16.70. The current Net Current Asset Value is $-16.70. Synthesis Energy Systems' overall GF Score™ is 12/100. 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 Synthesis Energy Systems (SYNE), the current Net Current Asset Value is $-16.70 as of Dec. 2019. 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.
Synthesis Energy Systems Inc is a US-based clean energy company that develops, builds and owns clean energy projects. The company provides proprietary gasification technology systems and solutions to the energy and chemical industries. Its gasification technology is a flexible, efficient and economic technology used for the production of synthesis gas or syngas which is a mixture of hydrogen, carbon monoxide and methane. Business activities of the company include supplying its proprietary gasification technology, equipment, and services into projects where these lower cost feedstocks can be profitably converted into clean syngas, which can then be used to produce a variety of high-value energy and chemical products.
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