Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Terra DroneTSE:278A +1.17%9 Net Current Asset Value is 円263.86 as of Jan. 2026, which is 100% below its 10-year median of 10.72. GuruFocus rates TSE:278A with a GF Score™ of 9/100. The stock has 5 warning signs investors should review. Among 198 Aerospace & Defense companies, Terra Drone ranks worse than 93.94% 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).
Terra Drone's net current asset value per share for the quarter that ended in Jan. 2026 was 円263.86.
The historical rank and industry rank for Terra Drone's Net Current Asset Value or its related term are showing as below:
TSE:278A'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 10.14 Med: 10.72 Max: 57.84
Current: 57.84
During the past 4 years, the highest Price-to-Net-Current-Asset-Value Ratio of Terra Drone was 57.84. The lowest was 10.14. And the median was 10.72.
TSE:278A's Price-to-Net-Current-Asset-Value is ranked worse than 93.94% of 198
companies
in the Aerospace & Defense industry
Industry Median: 7.515
vs TSE:278A: 57.84
Terra Drone (TSE:278A) 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.
Terra Drone Net Current Asset Value Related Terms
Terra Drone Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Terra Drone'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.
TSE:278A vs SPCX, GE, RTX: Net Current Asset Value Comparison
For the Aerospace & Defense subindustry, Terra Drone'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.
Terra Drone Price-to-Net-Current-Asset-Value vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Terra Drone's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Terra Drone'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 円263.86 mean?
Terra Drone (TSE:278A) has a Net Current Asset Value of 円263.86 as of Jan. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Terra Drone and its competitors. This is 2361% above median its historical median of 10.72. Over the past decade, Terra Drone's Net Current Asset Value has ranged from 10.14 to 57.84. According to the industry distribution chart, Terra Drone ranks #186 out of 198 companies in the Aerospace & Defense industry, placing it in the top 93.9%.
Is Terra Drone's Net Current Asset Value too high?
Terra Drone's current Net Current Asset Value of 円263.86 is 2361% above median its 10-year median of 10.72. Over the past 10 years, this metric has ranged from a low of 10.14 to a high of 57.84. Based on the distribution chart, Terra Drone ranks #186 out of 198 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Terra Drone has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Terra Drone's Net Current Asset Value compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Terra Drone ranks #186 out of 198 companies for Net Current Asset Value. This places Terra Drone in the lower half of its industry. The industry median Net Current Asset Value is 7.52. Historically, Terra Drone's own Net Current Asset Value has ranged from 10.14 to 57.84 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 an Aerospace & Defense company?
The median Net Current Asset Value among Aerospace & Defense companies is 7.52, based on 198 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 Terra Drone and its competitors. For the Aerospace & Defense industry, the median Net Current Asset Value is 7.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Terra Drone's current Net Current Asset Value is 円263.86, which is 2361% above median its own 10-year median of 10.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Terra Drone stock overvalued right now?
Terra Drone (TSE:278A) has a current Net Current Asset Value of 円263.86. The current Net Current Asset Value is 円263.86, which is 2361% above median its 10-year median of 10.72. Terra Drone's overall GF Score™ is 9/100 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 Terra Drone (TSE:278A), the current Net Current Asset Value is 円263.86 as of Jan. 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.
Terra Drone Corp is engaged in developing hardware and software for drones for surveying, inspection, and agriculture, providing related services, and developing and providing systems for managing the safe and efficient operation of drones and flying cars (UTM).
9GF Score
Get the complete analysis for TSE:278A
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:278A has been successfully added to your 
