Tokyo ElectronTOELF -1.27%85 Net Current Asset Value is $14.47 as of Mar. 2026, which is 78% above its 10-year median of 8.12. GuruFocus rates TOELF with a GF Score™ of 85/100 and a GF Value™ of $202.71 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 721 Semiconductors companies, Tokyo Electron ranks worse than 81.97% 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).
Tokyo Electron's net current asset value per share for the quarter that ended in Mar. 2026 was $14.47.
The historical rank and industry rank for Tokyo Electron's Net Current Asset Value or its related term are showing as below:
TOELF'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 4.28 Med: 8.12 Max: 31.76
Current: 31.76
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Tokyo Electron was 31.76. The lowest was 4.28. And the median was 8.12.
TOELF's Price-to-Net-Current-Asset-Value is ranked worse than 81.97% of 721
companies
in the Semiconductors industry
Industry Median: 9.65
vs TOELF: 31.76
Tokyo Electron (OTCPK:TOELF) 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.
Tokyo Electron Net Current Asset Value Related Terms
Tokyo Electron Net Current Asset Value Historical Data
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The historical data trend for Tokyo Electron'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.
TOELF vs LRCX, AMAT, KLAC: Net Current Asset Value Comparison
For the Semiconductor Equipment & Materials subindustry, Tokyo Electron'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.
Tokyo Electron Price-to-Net-Current-Asset-Value vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Tokyo Electron's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Tokyo Electron'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 $14.47 mean?
Tokyo Electron (TOELF) has a Net Current Asset Value of $14.47 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 Tokyo Electron and its competitors. This is 78% above median its historical median of 8.12. Over the past decade, Tokyo Electron's Net Current Asset Value has ranged from 4.28 to 31.76. According to the industry distribution chart, Tokyo Electron ranks #591 out of 721 companies in the Semiconductors industry, placing it in the top 82%.
Is Tokyo Electron's Net Current Asset Value too high?
Tokyo Electron's current Net Current Asset Value of $14.47 is 78% above median its 10-year median of 8.12. Over the past 10 years, this metric has ranged from a low of 4.28 to a high of 31.76. The Semiconductors industry median Net Current Asset Value is 9.65. Tokyo Electron's value of $14.47 is 49.9% above this industry median. Based on the distribution chart, Tokyo Electron ranks #591 out of 721 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, Tokyo Electron has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tokyo Electron's Net Current Asset Value compare to LRCX and AMAT?
According to the Semiconductors industry distribution chart, Tokyo Electron ranks #591 out of 721 companies for Net Current Asset Value. This places Tokyo Electron in the lower half of its industry. The industry median Net Current Asset Value is 9.65. Tokyo Electron's value of $14.47 is 49.9% above this benchmark. Historically, Tokyo Electron's own Net Current Asset Value has ranged from 4.28 to 31.76 over the past decade. While the company's 10-year median is 8.12 vs. the industry median of 9.65, Tokyo Electron 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 Semiconductors company?
The median Net Current Asset Value among Semiconductors companies is 9.65, based on 721 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. Tokyo Electron's current Net Current Asset Value of $14.47 is 49.9% 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 Tokyo Electron and its competitors. For the Semiconductors industry, the median Net Current Asset Value is 9.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tokyo Electron's current Net Current Asset Value is $14.47, which is 78% above median its own 10-year median of 8.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tokyo Electron stock overvalued right now?
Based on GuruFocus' analysis, Tokyo Electron (TOELF) is currently considered Significantly Overvalued. The stock's GF Value™ is $202.71, compared to a current price of $457.28 — trading 125.6% above its estimated fair value. The current Net Current Asset Value is $14.47, which is 78% above median its 10-year median of 8.12 and 49.9% above the Semiconductors industry median of 9.65. Tokyo Electron's overall GF Score™ is 85/100 with 8 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 Tokyo Electron (TOELF), the current Net Current Asset Value is $14.47 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 Tokyo Electron (TOELF) Overvalued in 2026?
Based on GuruFocus' analysis, Tokyo Electron stock appears to be overvalued.
The current stock price of $457.28 is trading 125.6% above its estimated GF Value™ of $202.71.
GuruFocus considers Tokyo Electron to be Significantly Overvalued.
Key valuation signals for TOELF:
Net Current Asset Value: $14.47 (78% above median its 10-year median of 8.12)
GF Value™: $202.71 vs. price of $457.28 (125.6% above fair value)
Industry Position: 49.9% above the Semiconductors median (#591 of 721)
No single metric tells the full story. See the TOELF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tokyo Electron is a major supplier of semiconductor fabrication tools. It operates primarily in the etching, deposition, and cleaning segments, which involve adding and removing materials to and from semiconductor wafers. Customers include leading-edge logic, foundry, and memory chipmakers such as Samsung Electronics, Intel, TSMC, and SK Hynix.
85GF Score
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Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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