Salzgitter AGSZGPF 56 Net Current Asset Value is $-11.62 as of Mar. 2026. GuruFocus rates SZGPF with a GF Score™ of 56/100 and a GF Value™ of $23.99 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 367 Steel companies, Salzgitter AG ranks worse than 272479.29% 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).
Salzgitter AG's net current asset value per share for the quarter that ended in Mar. 2026 was $-11.62.
The historical rank and industry rank for Salzgitter AG's Net Current Asset Value or its related term are showing as below:
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Salzgitter AG was 11.28. The lowest was 1.16. And the median was 4.68.
SZGPF's Price-to-Net-Current-Asset-Value is not ranked *
in the Steel industry.
Industry Median: 2.99 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Salzgitter AG (OTCPK:SZGPF) 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.
Salzgitter AG Net Current Asset Value Related Terms
Salzgitter AG Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Salzgitter AG'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.
SZGPF vs NUE, STLD, RS: Net Current Asset Value Comparison
For the Steel subindustry, Salzgitter AG'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.
Salzgitter AG Price-to-Net-Current-Asset-Value vs Steel Industry
For the Steel industry and Basic Materials sector, Salzgitter AG's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Salzgitter AG'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 $-11.62 mean?
Salzgitter AG (SZGPF) has a Net Current Asset Value of $-11.62 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 Salzgitter AG and its competitors. Over the past decade, Salzgitter AG's Net Current Asset Value has ranged from 1.16 to 11.28. According to the industry distribution chart, Salzgitter AG ranks #999999 out of 367 companies in the Steel industry.
Is Salzgitter AG's Net Current Asset Value too high?
Salzgitter AG's current Net Current Asset Value is $-11.62. Over the past 10 years, this metric has ranged from a low of 1.16 to a high of 11.28. Based on the distribution chart, Salzgitter AG ranks #999999 out of 367 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Salzgitter AG has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Salzgitter AG's Net Current Asset Value compare to NUE and STLD?
According to the Steel industry distribution chart, Salzgitter AG ranks #999999 out of 367 companies for Net Current Asset Value. This places Salzgitter AG in the lower half of its industry. The industry median Net Current Asset Value is 2.99. Historically, Salzgitter AG's own Net Current Asset Value has ranged from 1.16 to 11.28 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 Steel company?
The median Net Current Asset Value among Steel companies is 2.99, based on 367 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 Salzgitter AG and its competitors. For the Steel industry, the median Net Current Asset Value is 2.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Salzgitter AG's current Net Current Asset Value is $-11.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Salzgitter AG stock overvalued right now?
Based on GuruFocus' analysis, Salzgitter AG (SZGPF) is currently considered Significantly Overvalued. The stock's GF Value™ is $23.99, compared to a current price of $57.97 — trading 141.6% above its estimated fair value. The current Net Current Asset Value is $-11.62. Salzgitter AG's overall GF Score™ is 56/100 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 Salzgitter AG (SZGPF), the current Net Current Asset Value is $-11.62 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 Salzgitter AG (SZGPF) Overvalued in 2026?
Based on GuruFocus' analysis, Salzgitter AG stock appears to be overvalued.
The current stock price of $57.97 is trading 141.6% above its estimated GF Value™ of $23.99.
GuruFocus considers Salzgitter AG to be Significantly Overvalued.
Key valuation signals for SZGPF:
Net Current Asset Value: $-11.62
GF Value™: $23.99 vs. price of $57.97 (141.6% above fair value)
No single metric tells the full story. See the SZGPF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Salzgitter AG operates as a holding company. It has four divisions: Steel Production, Steel Processing, Trading and Technology. The majority is derived from the Steel Production segment, which manufactures high-quality branded steel & special steel. Its core product offerings include strip steel articles, seamless and welded steel pipes and tubes, and heavy plate count.
56GF Score
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