Mayer Steel PipeTPE:2020 -0.47%75 Net Current Asset Value is NT$5.42 as of Dec. 2025, which is 100% below its 10-year median of 6.64. GuruFocus rates TPE:2020 with a GF Score™ of 75/100 and a GF Value™ of NT$20.90 (Fairly Valued). The stock has 5 warning signs investors should review. Among 367 Steel companies, Mayer Steel Pipe ranks worse than 60.49% 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).
Mayer Steel Pipe's net current asset value per share for the quarter that ended in Dec. 2025 was NT$5.42.
The historical rank and industry rank for Mayer Steel Pipe's Net Current Asset Value or its related term are showing as below:
TPE:2020'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 3.94 Med: 6.64 Max: 57.59
Current: 3.94
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Mayer Steel Pipe was 57.59. The lowest was 3.94. And the median was 6.64.
TPE:2020's Price-to-Net-Current-Asset-Value is ranked worse than 60.49% of 367
companies
in the Steel industry
Industry Median: 3
vs TPE:2020: 3.94
Mayer Steel Pipe (TPE:2020) 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.
Mayer Steel Pipe Net Current Asset Value Related Terms
Mayer Steel Pipe Net Current Asset Value Historical Data
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The historical data trend for Mayer Steel Pipe'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.
TPE:2020 vs NUE, STLD, RS: Net Current Asset Value Comparison
For the Steel subindustry, Mayer Steel Pipe'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.
Mayer Steel Pipe Price-to-Net-Current-Asset-Value vs Steel Industry
For the Steel industry and Basic Materials sector, Mayer Steel Pipe's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Mayer Steel Pipe'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 NT$5.42 mean?
Mayer Steel Pipe (TPE:2020) has a Net Current Asset Value of NT$5.42 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Mayer Steel Pipe and its competitors. This is 18% below median its historical median of 6.64. Over the past decade, Mayer Steel Pipe's Net Current Asset Value has ranged from 3.94 to 57.59. According to the industry distribution chart, Mayer Steel Pipe ranks #222 out of 367 companies in the Steel industry, placing it in the top 60.5%.
Is Mayer Steel Pipe's Net Current Asset Value too high?
Mayer Steel Pipe's current Net Current Asset Value of NT$5.42 is 18% below median its 10-year median of 6.64. Over the past 10 years, this metric has ranged from a low of 3.94 to a high of 57.59. Based on the distribution chart, Mayer Steel Pipe ranks #222 out of 367 companies in the Steel industry, which is below the industry midpoint. Overall, Mayer Steel Pipe has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mayer Steel Pipe's Net Current Asset Value compare to NUE and STLD?
According to the Steel industry distribution chart, Mayer Steel Pipe ranks #222 out of 367 companies for Net Current Asset Value. This places Mayer Steel Pipe in the lower half of its industry. The industry median Net Current Asset Value is 3.00. Historically, Mayer Steel Pipe's own Net Current Asset Value has ranged from 3.94 to 57.59 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 3.00, 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 Mayer Steel Pipe and its competitors. For the Steel industry, the median Net Current Asset Value is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mayer Steel Pipe's current Net Current Asset Value is NT$5.42, which is 18% below median its own 10-year median of 6.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mayer Steel Pipe stock overvalued right now?
Based on GuruFocus' analysis, Mayer Steel Pipe (TPE:2020) is currently considered Fairly Valued. The stock's GF Value™ is NT$20.90, compared to a current price of NT$21.35 — trading 2.2% above its estimated fair value. The current Net Current Asset Value is NT$5.42, which is 18% below median its 10-year median of 6.64. Mayer Steel Pipe's overall GF Score™ is 75/100 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 Mayer Steel Pipe (TPE:2020), the current Net Current Asset Value is NT$5.42 as of Dec. 2025. 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 Mayer Steel Pipe (TPE:2020) Overvalued in 2026?
Based on GuruFocus' analysis, Mayer Steel Pipe stock appears to be overvalued.
The current stock price of NT$21.35 is trading 2.2% above its estimated GF Value™ of NT$20.90.
GuruFocus considers Mayer Steel Pipe to be Fairly Valued.
Key valuation signals for TPE:2020:
Net Current Asset Value: NT$5.42 (18% below median its 10-year median of 6.64)
GF Value™: NT$20.90 vs. price of NT$21.35 (2.2% above fair value)
No single metric tells the full story. See the TPE:2020 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mayer Steel Pipe Corp operates as a steel pipe manufacturer in Taiwan. The primary business of the company and its entities is engaged in the production and sales of black steel pipes, galvanized steel pipes and stainless-steel coils for pipes. The company's reportable segments are the Steel Segment, Real Estate Investment Segment, Investment Segment, and Hotel Services Segment. The majority of revenue is derived from the Steel department, which focuses on the production and sales of black steel pipes, zinc-coated steel pipes, and stainless-steel coils for Pipes. Geographically it generates maximum revenue from Taiwan and the rest from Vietnam, Thailand, and other regions.
75GF 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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