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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).
Applied Co's net current asset value per share for the quarter that ended in Mar. 2026 was 円2,810.21.
The historical rank and industry rank for Applied Co's Net Current Asset Value or its related term are showing as below:
TSE:3020'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.22 Med: 2.12 Max: 1014.01
Current: 1.59
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Applied Co was 1014.01. The lowest was 1.22. And the median was 2.12.
TSE:3020's Price-to-Net-Current-Asset-Value is ranked better than 86.53% of 1819
companies
in the Hardware industry
Industry Median: 5.33
vs TSE:3020: 1.59
Applied Co (TSE:3020) 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.
Applied Co Net Current Asset Value Related Terms
Applied Co Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Applied Co'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:3020 vs SNX, ARW, AVT: Net Current Asset Value Comparison
For the Electronics & Computer Distribution subindustry, Applied 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.
Applied Co Price-to-Net-Current-Asset-Value vs Hardware Industry
For the Hardware industry and Technology sector, Applied Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Applied 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2,810.21 mean?
Applied Co (TSE:3020) has a Net Current Asset Value of 円2,810.21 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 Applied Co and its competitors. According to the industry distribution chart, Applied Co ranks #245 out of 1819 companies in the Hardware industry, placing it in the top 13.5%.
Is Applied Co's Net Current Asset Value too high?
Applied Co's current Net Current Asset Value is 円2,810.21. Based on the distribution chart, Applied Co ranks #245 out of 1819 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Applied Co has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Applied Co's Net Current Asset Value compare to SNX and ARW?
According to the Hardware industry distribution chart, Applied Co ranks #245 out of 1819 companies for Net Current Asset Value. This places Applied Co in the top 14% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 5.33. 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 Hardware company?
The median Net Current Asset Value among Hardware companies is 5.33, based on 1,819 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 Applied Co and its competitors. For the Hardware industry, the median Net Current Asset Value is 5.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Applied Co's current Net Current Asset Value is 円2,810.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Applied Co stock overvalued right now?
Based on GuruFocus' analysis, Applied Co (TSE:3020) is currently considered Significantly Overvalued. The stock's GF Value™ is 円3,214.17, compared to a current price of 円4,535.00 — trading 41.1% above its estimated fair value. The current Net Current Asset Value is 円2,810.21. Applied Co's overall GF Score™ is 75/100 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 Applied Co (TSE:3020), the current Net Current Asset Value is 円2,810.21 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 Applied Co (TSE:3020) Overvalued in 2026?
Based on GuruFocus' analysis, Applied Co stock appears to be overvalued.
The current stock price of 円4,535.00 is trading 41.1% above its estimated GF Value™ of 円3,214.17.
GuruFocus considers Applied Co to be Significantly Overvalued.
Key valuation signals for TSE:3020:
Net Current Asset Value: 円2,810.21
GF Value™: 円3,214.17 vs. price of 円4,535.00 (41.1% above fair value)
No single metric tells the full story. See the TSE:3020 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Applied Co Ltd is engaged in contract development and maintenance of work WEB systems, digital development, content development for consumers, operation of a game shop, purchase and sale of used handsets, planning and development of technical services, and contract production of OEM products.
75GF Score
Get the complete analysis for TSE:3020
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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