Tarsus PharmaceuticalsTARS -2.64%48 Net Current Asset Value is $7.09 as of Mar. 2026, which is 93% above its 10-year median of 3.68. GuruFocus rates TARS with a GF Score™ of 48/100 and a GF Value™ of $202.09 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 946 Biotechnology companies, Tarsus Pharmaceuticals ranks worse than 70.51% 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).
Tarsus Pharmaceuticals's net current asset value per share for the quarter that ended in Mar. 2026 was $7.09.
The historical rank and industry rank for Tarsus Pharmaceuticals's Net Current Asset Value or its related term are showing as below:
TARS'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.78 Med: 3.68 Max: 11.45
Current: 8.66
During the past 8 years, the highest Price-to-Net-Current-Asset-Value Ratio of Tarsus Pharmaceuticals was 11.45. The lowest was 1.78. And the median was 3.68.
TARS's Price-to-Net-Current-Asset-Value is ranked worse than 70.51% of 946
companies
in the Biotechnology industry
Industry Median: 4.76
vs TARS: 8.66
Tarsus Pharmaceuticals (NAS:TARS) 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.
Tarsus Pharmaceuticals Net Current Asset Value Related Terms
Tarsus Pharmaceuticals Net Current Asset Value Historical Data
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The historical data trend for Tarsus Pharmaceuticals'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.
Tarsus Pharmaceuticals Net Current Asset Value Chart
TARS vs KLRA, CLDX, TRVI: Net Current Asset Value Comparison
For the Biotechnology subindustry, Tarsus Pharmaceuticals'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.
Tarsus Pharmaceuticals Price-to-Net-Current-Asset-Value vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Tarsus Pharmaceuticals's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Tarsus Pharmaceuticals'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 $7.09 mean?
Tarsus Pharmaceuticals (TARS) has a Net Current Asset Value of $7.09 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 Tarsus Pharmaceuticals and its competitors. This is 93% above median its historical median of 3.68. Over the past decade, Tarsus Pharmaceuticals' Net Current Asset Value has ranged from 1.78 to 11.45. According to the industry distribution chart, Tarsus Pharmaceuticals ranks #667 out of 946 companies in the Biotechnology industry, placing it in the top 70.5%.
Is Tarsus Pharmaceuticals' Net Current Asset Value too high?
Tarsus Pharmaceuticals' current Net Current Asset Value of $7.09 is 93% above median its 10-year median of 3.68. Over the past 10 years, this metric has ranged from a low of 1.78 to a high of 11.45. The Biotechnology industry median Net Current Asset Value is 4.76. Tarsus Pharmaceuticals' value of $7.09 is 48.9% above this industry median. Based on the distribution chart, Tarsus Pharmaceuticals ranks #667 out of 946 companies in the Biotechnology industry, which is below the industry midpoint. Overall, Tarsus Pharmaceuticals has a GF Score™ of 48/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Tarsus Pharmaceuticals' Net Current Asset Value compare to KLRA and CLDX?
According to the Biotechnology industry distribution chart, Tarsus Pharmaceuticals ranks #667 out of 946 companies for Net Current Asset Value. This places Tarsus Pharmaceuticals in the lower half of its industry. The industry median Net Current Asset Value is 4.76. Tarsus Pharmaceuticals' value of $7.09 is 48.9% above this benchmark. Historically, Tarsus Pharmaceuticals' own Net Current Asset Value has ranged from 1.78 to 11.45 over the past decade. While the company's 10-year median is 3.68 vs. the industry median of 4.76, Tarsus Pharmaceuticals has consistently been above the industry average. 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 Biotechnology company?
The median Net Current Asset Value among Biotechnology companies is 4.76, based on 946 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. Tarsus Pharmaceuticals's current Net Current Asset Value of $7.09 is 48.9% above 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 Tarsus Pharmaceuticals and its competitors. For the Biotechnology industry, the median Net Current Asset Value is 4.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tarsus Pharmaceuticals's current Net Current Asset Value is $7.09, which is 93% above median its own 10-year median of 3.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tarsus Pharmaceuticals stock overvalued right now?
Based on GuruFocus' analysis, Tarsus Pharmaceuticals (TARS) is currently considered Possible Value Trap. The stock's GF Value™ is $202.09, compared to a current price of $61.37 — trading 69.6% below its estimated fair value. The current Net Current Asset Value is $7.09, which is 93% above median its 10-year median of 3.68 and 48.9% above the Biotechnology industry median of 4.76. Tarsus Pharmaceuticals' overall GF Score™ is 48/100 with 2 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 Tarsus Pharmaceuticals (TARS), the current Net Current Asset Value is $7.09 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 Tarsus Pharmaceuticals (TARS) Overvalued in 2026?
Based on GuruFocus' analysis, Tarsus Pharmaceuticals stock appears to be undervalued.
The current stock price of $61.37 is trading 69.6% below its estimated GF Value™ of $202.09.
GuruFocus considers Tarsus Pharmaceuticals to be Possible Value Trap.
Key valuation signals for TARS:
Net Current Asset Value: $7.09 (93% above median its 10-year median of 3.68)
GF Value™: $202.09 vs. price of $61.37 (69.6% below fair value)
Industry Position: 48.9% above the Biotechnology median (#667 of 946)
No single metric tells the full story. See the TARS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tarsus Pharmaceuticals Inc is a commercial-stage biopharmaceutical company focused on the development and commercialization of therapeutics, starting with eye care. The company is focused on the development and commercialization of first-in-class therapeutic candidates to provide treatment for ophthalmic conditions. The company's candidate XDEMVY is a novel investigational eye drop to treat blepharitis caused by the infestation of Demodex mites, referred to as Demodex blepharitis. TP-04 for the potential treatment of ocular rosacea and TP-05 for potential Lyme disease prophylaxis and community malaria reduction.
48GF Score
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