Tokyo Steel Manufacturing CoTOKSF 72 Net Current Asset Value is $4.61 as of Mar. 2026, which is 125% above its 10-year median of 2.05. GuruFocus rates TOKSF with a GF Score™ of 72/100 and a GF Value™ of $9.23 (Fairly Valued). The stock has 5 warning signs investors should review. Among 368 Steel companies, Tokyo Steel Manufacturing Co ranks better than 58.97% 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 Steel Manufacturing Co's net current asset value per share for the quarter that ended in Mar. 2026 was $4.61.
The historical rank and industry rank for Tokyo Steel Manufacturing Co's Net Current Asset Value or its related term are showing as below:
TOKSF'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.53 Med: 2.05 Max: 3.22
Current: 2.29
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Tokyo Steel Manufacturing Co was 3.22. The lowest was 1.53. And the median was 2.05.
TOKSF's Price-to-Net-Current-Asset-Value is ranked better than 58.97% of 368
companies
in the Steel industry
Industry Median: 2.94
vs TOKSF: 2.29
Tokyo Steel Manufacturing Co (OTCPK:TOKSF) 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 Steel Manufacturing Co Net Current Asset Value Related Terms
Tokyo Steel Manufacturing Co 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.
Tokyo Steel Manufacturing Co Net Current Asset Value Chart
TOKSF vs NUE, STLD, RS: Net Current Asset Value Comparison
For the Steel subindustry, Tokyo Steel Manufacturing Co'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 Steel Manufacturing Co Price-to-Net-Current-Asset-Value vs Steel Industry
For the Steel industry and Basic Materials sector, Tokyo Steel Manufacturing Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Tokyo Steel Manufacturing Co'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 $4.61 mean?
Tokyo Steel Manufacturing Co (TOKSF) has a Net Current Asset Value of $4.61 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 Steel Manufacturing Co and its competitors. This is 125% above median its historical median of 2.05. Over the past decade, Tokyo Steel Manufacturing Co's Net Current Asset Value has ranged from 1.53 to 3.22. According to the industry distribution chart, Tokyo Steel Manufacturing Co ranks #151 out of 368 companies in the Steel industry, placing it in the top 41%.
Is Tokyo Steel Manufacturing Co's Net Current Asset Value too high?
Tokyo Steel Manufacturing Co's current Net Current Asset Value of $4.61 is 125% above median its 10-year median of 2.05. Over the past 10 years, this metric has ranged from a low of 1.53 to a high of 3.22. The Steel industry median Net Current Asset Value is 2.94. Tokyo Steel Manufacturing Co's value of $4.61 is 56.8% above this industry median. Based on the distribution chart, Tokyo Steel Manufacturing Co ranks #151 out of 368 companies in the Steel industry, which is above the industry midpoint. Overall, Tokyo Steel Manufacturing Co has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Tokyo Steel Manufacturing Co's Net Current Asset Value compare to NUE and STLD?
According to the Steel industry distribution chart, Tokyo Steel Manufacturing Co ranks #151 out of 368 companies for Net Current Asset Value. This puts Tokyo Steel Manufacturing Co in the upper half of its industry. The industry median Net Current Asset Value is 2.94. Tokyo Steel Manufacturing Co's value of $4.61 is 56.8% above this benchmark. Historically, Tokyo Steel Manufacturing Co's own Net Current Asset Value has ranged from 1.53 to 3.22 over the past decade. While the company's 10-year median is 2.05 vs. the industry median of 2.94, Tokyo Steel Manufacturing Co 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 Steel company?
The median Net Current Asset Value among Steel companies is 2.94, based on 368 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 Steel Manufacturing Co's current Net Current Asset Value of $4.61 is 56.8% 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 Steel Manufacturing Co and its competitors. For the Steel industry, the median Net Current Asset Value is 2.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tokyo Steel Manufacturing Co's current Net Current Asset Value is $4.61, which is 125% above median its own 10-year median of 2.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tokyo Steel Manufacturing Co stock overvalued right now?
Based on GuruFocus' analysis, Tokyo Steel Manufacturing Co (TOKSF) is currently considered Fairly Valued. The stock's GF Value™ is $9.23, compared to a current price of $9.11 — trading 1.3% below its estimated fair value. The current Net Current Asset Value is $4.61, which is 125% above median its 10-year median of 2.05 and 56.8% above the Steel industry median of 2.94. Tokyo Steel Manufacturing Co's overall GF Score™ is 72/100 with 5 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 Steel Manufacturing Co (TOKSF), the current Net Current Asset Value is $4.61 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 Steel Manufacturing Co (TOKSF) Overvalued in 2026?
Based on GuruFocus' analysis, Tokyo Steel Manufacturing Co stock appears to be undervalued.
The current stock price of $9.11 is trading 1.3% below its estimated GF Value™ of $9.23.
GuruFocus considers Tokyo Steel Manufacturing Co to be Fairly Valued.
Key valuation signals for TOKSF:
Net Current Asset Value: $4.61 (125% above median its 10-year median of 2.05)
GF Value™: $9.23 vs. price of $9.11 (1.3% below fair value)
Industry Position: 56.8% above the Steel median (#151 of 368)
No single metric tells the full story. See the TOKSF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tokyo Steel Manufacturing Co Ltd is a Japan-based company engaged in production of long steel products and flat steel products. The company's long product portfolio comprises H beams, sheet piles, I-beams, checkered H-beams, channels, and reinforcing bars. The company's flat product portfolio consists of heavy plates, hot-rolled coils, pickled and oiled coils, hot-dip galvanized coils, checkered coils, and steel sheets. These products are used in a broad range of applications, including construction, civil engineering, industrial equipment, plant equipment, bridge, and shipbuilding. The company has four plants located in Tahara, Okayama, Kyushu, and Utsunomiya. Tokyo Steel Manufacturing generates the majority of its revenue from the Japanese domestic market.
72GF Score
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