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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).
Warabeya Nichiyo Holdings Co's net current asset value per share for the quarter that ended in Feb. 2026 was 円-2,062.83.
The historical rank and industry rank for Warabeya Nichiyo Holdings Co's Net Current Asset Value or its related term are showing as below:
TSE:2918's Price-to-Net-Current-Asset-Value is not ranked *
in the Consumer Packaged Goods industry.
Industry Median: 4.16 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Warabeya Nichiyo Holdings Co (TSE:2918) 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.
Warabeya Nichiyo Holdings Co Net Current Asset Value Related Terms
Warabeya Nichiyo Holdings 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.
Warabeya Nichiyo Holdings Co Net Current Asset Value Chart
TSE:2918 vs KHC, GIS: Net Current Asset Value Comparison
For the Packaged Foods subindustry, Warabeya Nichiyo Holdings 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.
Warabeya Nichiyo Holdings Co Price-to-Net-Current-Asset-Value vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Warabeya Nichiyo Holdings Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Warabeya Nichiyo Holdings 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 円-2,062.83 mean?
Warabeya Nichiyo Holdings Co (TSE:2918) has a Net Current Asset Value of 円-2,062.83 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 Warabeya Nichiyo Holdings Co and its competitors. According to the industry distribution chart, Warabeya Nichiyo Holdings Co ranks #999999 out of 1052 companies in the Consumer Packaged Goods industry.
Is Warabeya Nichiyo Holdings Co's Net Current Asset Value too high?
Warabeya Nichiyo Holdings Co's current Net Current Asset Value is 円-2,062.83. Based on the distribution chart, Warabeya Nichiyo Holdings Co ranks #999999 out of 1052 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Warabeya Nichiyo Holdings Co has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Warabeya Nichiyo Holdings Co's Net Current Asset Value compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Warabeya Nichiyo Holdings Co ranks #999999 out of 1052 companies for Net Current Asset Value. This places Warabeya Nichiyo Holdings Co in the lower half of its industry. The industry median Net Current Asset Value is 4.16. 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 Consumer Packaged Goods company?
The median Net Current Asset Value among Consumer Packaged Goods companies is 4.16, based on 1,052 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 Warabeya Nichiyo Holdings Co and its competitors. For the Consumer Packaged Goods industry, the median Net Current Asset Value is 4.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Warabeya Nichiyo Holdings Co's current Net Current Asset Value is 円-2,062.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Warabeya Nichiyo Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Warabeya Nichiyo Holdings Co (TSE:2918) is currently considered Fairly Valued. The stock's GF Value™ is 円2,875.26, compared to a current price of 円2,766.00 — trading 3.8% below its estimated fair value. The current Net Current Asset Value is 円-2,062.83. Warabeya Nichiyo Holdings Co's overall GF Score™ is 77/100 with 2 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 Warabeya Nichiyo Holdings Co (TSE:2918), the current Net Current Asset Value is 円-2,062.83 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 Warabeya Nichiyo Holdings Co (TSE:2918) Overvalued in 2026?
Based on GuruFocus' analysis, Warabeya Nichiyo Holdings Co stock appears to be undervalued.
The current stock price of 円2,766.00 is trading 3.8% below its estimated GF Value™ of 円2,875.26.
GuruFocus considers Warabeya Nichiyo Holdings Co to be Fairly Valued.
Key valuation signals for TSE:2918:
Net Current Asset Value: 円-2,062.83
GF Value™: 円2,875.26 vs. price of 円2,766.00 (3.8% below fair value)
No single metric tells the full story. See the TSE:2918 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Warabeya Nichiyo Holdings Co Ltd is a Japan-based company engaged in manufacturing and sale of ready-made food products. It produces ready-to-eat meals for convenience stores which includes bento meal boxes, onigiri rice balls, and side dishes. The food products offered by the group are bento meal boxes, onigiri rice balls and sushi, chilled bento meal boxes, bread products, side dishes and noodles, and chilled Japanese sweets. The organization has business operations in Japan and in international countries. The segments of the company are Food Products Business, Food Ingredients Business, and Logistics Business. The Food Products business segment includes manufacturing and sales of cooked food and Logistics business segment relates to food delivery.
77GF Score
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