Thermal Energy InternationalTMGEF +2.21%64 Net Current Asset Value is $0.01 as of Feb. 2026, which is 100% below its 10-year median of 9.50. GuruFocus rates TMGEF with a GF Score™ of 64/100 and a GF Value™ of $0.17 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 2,217 Industrial Products companies, Thermal Energy International ranks worse than 60.94% 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).
Thermal Energy International's net current asset value per share for the quarter that ended in Feb. 2026 was $0.01.
The historical rank and industry rank for Thermal Energy International's Net Current Asset Value or its related term are showing as below:
TMGEF'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 3.5 Med: 9.5 Max: 25
Current: 11.11
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Thermal Energy International was 25.00. The lowest was 3.50. And the median was 9.50.
TMGEF's Price-to-Net-Current-Asset-Value is ranked worse than 60.94% of 2217
companies
in the Industrial Products industry
Industry Median: 5.58
vs TMGEF: 11.11
Thermal Energy International (OTCPK:TMGEF) 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.
Thermal Energy International Net Current Asset Value Related Terms
Thermal Energy International Net Current Asset Value Historical Data
* 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.
Thermal Energy International Net Current Asset Value Chart
TMGEF vs VLTO, ZWS, CECO: Net Current Asset Value Comparison
For the Pollution & Treatment Controls subindustry, Thermal Energy International'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.
Thermal Energy International Price-to-Net-Current-Asset-Value vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Thermal Energy International's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Thermal Energy International'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 $0.01 mean?
Thermal Energy International (TMGEF) has a Net Current Asset Value of $0.01 as of Feb. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Thermal Energy International and its competitors. This is 100% below median its historical median of 9.50. Over the past decade, Thermal Energy International's Net Current Asset Value has ranged from 3.50 to 25.00. According to the industry distribution chart, Thermal Energy International ranks #1351 out of 2217 companies in the Industrial Products industry, placing it in the top 60.9%.
Is Thermal Energy International's Net Current Asset Value too high?
Thermal Energy International's current Net Current Asset Value of $0.01 is 100% below median its 10-year median of 9.50. Over the past 10 years, this metric has ranged from a low of 3.50 to a high of 25.00. The Industrial Products industry median Net Current Asset Value is 5.58. Thermal Energy International's value of $0.01 is 99.8% below this industry median. Based on the distribution chart, Thermal Energy International ranks #1351 out of 2217 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Thermal Energy International has a GF Score™ of 64/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Thermal Energy International's Net Current Asset Value compare to VLTO and ZWS?
According to the Industrial Products industry distribution chart, Thermal Energy International ranks #1351 out of 2217 companies for Net Current Asset Value. This places Thermal Energy International in the lower half of its industry. The industry median Net Current Asset Value is 5.58. Thermal Energy International's value of $0.01 is 99.8% below this benchmark. Historically, Thermal Energy International's own Net Current Asset Value has ranged from 3.50 to 25.00 over the past decade. While the company's 10-year median is 9.50 vs. the industry median of 5.58, Thermal Energy International has consistently been below 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 an Industrial Products company?
The median Net Current Asset Value among Industrial Products companies is 5.58, based on 2,217 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. Thermal Energy International's current Net Current Asset Value of $0.01 is 99.8% below 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 Thermal Energy International and its competitors. For the Industrial Products industry, the median Net Current Asset Value is 5.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thermal Energy International's current Net Current Asset Value is $0.01, which is 100% below median its own 10-year median of 9.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thermal Energy International stock overvalued right now?
Based on GuruFocus' analysis, Thermal Energy International (TMGEF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.17, compared to a current price of $0.11 — trading 34.6% below its estimated fair value. The current Net Current Asset Value is $0.01, which is 100% below median its 10-year median of 9.50 and 99.8% below the Industrial Products industry median of 5.58. Thermal Energy International's overall GF Score™ is 64/100 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 Thermal Energy International (TMGEF), the current Net Current Asset Value is $0.01 as of Feb. 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 Thermal Energy International (TMGEF) Overvalued in 2026?
Based on GuruFocus' analysis, Thermal Energy International stock appears to be undervalued.
The current stock price of $0.11 is trading 34.6% below its estimated GF Value™ of $0.17.
GuruFocus considers Thermal Energy International to be Possible Value Trap.
Key valuation signals for TMGEF:
Net Current Asset Value: $0.01 (100% below median its 10-year median of 9.50)
GF Value™: $0.17 vs. price of $0.11 (34.6% below fair value)
Industry Position: 99.8% below the Industrial Products median (#1351 of 2217)
No single metric tells the full story. See the TMGEF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thermal Energy International Inc is a supplier of proprietary, energy efficiency and emissions reduction solutions to the industrial and institutional sectors. It markets, sells, engineers, fabricates, constructs, installs and supports technology lines - heat recovery solutions and condensate return system solutions. The product portfolio consists of GEM steam traps, FLU-ACE - direct contact condensing heat recovery, and Dry Rex - low-temperature biomass drying systems. The operating segment includes geographical areas that reflect the core business which has units located in Ottawa, Canada and Bristol, UK. The firm derives revenue from Canada, the UK, Germany, France, Poland, India, etc and the rest of the world. Substantial sales revenue comes from the USA.
64GF Score
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