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Base FoodTSE:2936 -5.09%61 Net Current Asset Value is 円10.73 as of Feb. 2026, which is 100% below its 10-year median of 51.94. GuruFocus rates TSE:2936 with a GF Score™ of 61/100 and a GF Value™ of 円453.18 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 1,053 Consumer Packaged Goods companies, Base Food ranks worse than 90.12% 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).
Base Food's net current asset value per share for the quarter that ended in Feb. 2026 was 円10.73.
The historical rank and industry rank for Base Food's Net Current Asset Value or its related term are showing as below:
TSE:2936'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 18.08 Med: 51.94 Max: 96.71
Current: 24.32
During the past 6 years, the highest Price-to-Net-Current-Asset-Value Ratio of Base Food was 96.71. The lowest was 18.08. And the median was 51.94.
TSE:2936's Price-to-Net-Current-Asset-Value is ranked worse than 90.12% of 1053
companies
in the Consumer Packaged Goods industry
Industry Median: 4.19
vs TSE:2936: 24.32
Base Food (TSE:2936) 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.
Base Food Net Current Asset Value Related Terms
Base Food Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Base Food'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:2936 vs KHC, GIS: Net Current Asset Value Comparison
For the Packaged Foods subindustry, Base Food'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.
Base Food Price-to-Net-Current-Asset-Value vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Base Food's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Base Food'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10.73 mean?
Base Food (TSE:2936) has a Net Current Asset Value of 円10.73 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 Base Food and its competitors. This is 79% below median its historical median of 51.94. Over the past decade, Base Food's Net Current Asset Value has ranged from 18.08 to 96.71. According to the industry distribution chart, Base Food ranks #949 out of 1053 companies in the Consumer Packaged Goods industry, placing it in the top 90.1%.
Is Base Food's Net Current Asset Value too high?
Base Food's current Net Current Asset Value of 円10.73 is 79% below median its 10-year median of 51.94. Over the past 10 years, this metric has ranged from a low of 18.08 to a high of 96.71. Based on the distribution chart, Base Food ranks #949 out of 1053 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Base Food has a GF Score™ of 61/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Base Food's Net Current Asset Value compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Base Food ranks #949 out of 1053 companies for Net Current Asset Value. This places Base Food in the lower half of its industry. The industry median Net Current Asset Value is 4.19. Historically, Base Food's own Net Current Asset Value has ranged from 18.08 to 96.71 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 Consumer Packaged Goods company?
The median Net Current Asset Value among Consumer Packaged Goods companies is 4.19, based on 1,053 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 Base Food and its competitors. For the Consumer Packaged Goods industry, the median Net Current Asset Value is 4.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Base Food's current Net Current Asset Value is 円10.73, which is 79% below median its own 10-year median of 51.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Base Food stock overvalued right now?
Based on GuruFocus' analysis, Base Food (TSE:2936) is currently considered Significantly Undervalued. The stock's GF Value™ is 円453.18, compared to a current price of 円261.00 — trading 42.4% below its estimated fair value. The current Net Current Asset Value is 円10.73, which is 79% below median its 10-year median of 51.94. Base Food's overall GF Score™ is 61/100 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 Base Food (TSE:2936), the current Net Current Asset Value is 円10.73 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 Base Food (TSE:2936) Overvalued in 2026?
Based on GuruFocus' analysis, Base Food stock appears to be undervalued.
The current stock price of 円261.00 is trading 42.4% below its estimated GF Value™ of 円453.18.
GuruFocus considers Base Food to be Significantly Undervalued.
Key valuation signals for TSE:2936:
Net Current Asset Value: 円10.73 (79% below median its 10-year median of 51.94)
GF Value™: 円453.18 vs. price of 円261.00 (42.4% below fair value)
No single metric tells the full story. See the TSE:2936 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Base Food Inc is engaged in the development and sale of complete nutrition food. The company offers base bread, base pasta and base cookies related products.
61GF Score
Get the complete analysis for TSE:2936
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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