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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).
Nousouken's net current asset value per share for the quarter that ended in Feb. 2026 was 円19.38.
The historical rank and industry rank for Nousouken's Net Current Asset Value or its related term are showing as below:
TSE:3541'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 12.13 Med: 21.19 Max: 45.67
Current: 39.37
During the past 11 years, the highest Price-to-Net-Current-Asset-Value Ratio of Nousouken was 45.67. The lowest was 12.13. And the median was 21.19.
TSE:3541's Price-to-Net-Current-Asset-Value is not ranked
in the Retail - Defensive industry.
Industry Median: 3.32
vs TSE:3541: 39.37
Nousouken (TSE:3541) 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.
Nousouken Net Current Asset Value Related Terms
Nousouken Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Nousouken'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:3541 vs SYY, USFD, PFGC: Net Current Asset Value Comparison
For the Food Distribution subindustry, Nousouken'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.
Nousouken Price-to-Net-Current-Asset-Value vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Nousouken's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Nousouken'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19.38 mean?
Nousouken (TSE:3541) has a Net Current Asset Value of 円19.38 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 Nousouken and its competitors. This is near median its historical median of 21.19. Over the past decade, Nousouken's Net Current Asset Value has ranged from 12.13 to 45.67.
Is Nousouken's Net Current Asset Value too high?
Nousouken's current Net Current Asset Value of 円19.38 is near median its 10-year median of 21.19. Over the past 10 years, this metric has ranged from a low of 12.13 to a high of 45.67. Overall, Nousouken has a GF Score™ of 45/100, reflecting its overall financial health beyond just this single metric.
How does Nousouken's Net Current Asset Value compare to SYY and USFD?
Nousouken's Net Current Asset Value of 円19.38 can be compared against companies in the Retail - Defensive industry. The industry median Net Current Asset Value is 3.32. Historically, Nousouken's own Net Current Asset Value has ranged from 12.13 to 45.67 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 Retail - Defensive company?
The median Net Current Asset Value among Retail - Defensive companies is 3.32, based on 135 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 Nousouken and its competitors. For the Retail - Defensive industry, the median Net Current Asset Value is 3.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nousouken's current Net Current Asset Value is 円19.38, which is near median its own 10-year median of 21.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nousouken stock overvalued right now?
Nousouken (TSE:3541) has a current Net Current Asset Value of 円19.38. The stock's GF Value™ is 円474.62, compared to a current price of 円763.00 — trading 60.8% above its estimated fair value. The current Net Current Asset Value is 円19.38, which is near median its 10-year median of 21.19. Nousouken's overall GF Score™ is 45/100 with 6 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 Nousouken (TSE:3541), the current Net Current Asset Value is 円19.38 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 Nousouken (TSE:3541) Overvalued in 2026?
Based on GuruFocus' analysis, Nousouken stock appears to be overvalued.
The current stock price of 円763.00 is trading 60.8% above its estimated GF Value™ of 円474.62.
Key valuation signals for TSE:3541:
Net Current Asset Value: 円19.38 (near median its 10-year median of 21.19)
GF Value™: 円474.62 vs. price of 円763.00 (60.8% above fair value)
No single metric tells the full story. See the TSE:3541 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nousouken Corp provides an agricultural product distribution platform that directly connects various collection points and logistics centers across Japan. The company's reportable segments are Farmers' Direct Sales and Direct Wholesale. Maximum revenue is generated from the Farmers' Direct sales segment, a distribution platform business that delivers and sells fresh agricultural produce collected at collection centers across the country to in-shops (farmers' direct sales stores) set up in urban supermarkets. The Direct Wholesale segment is a wholesale business in which the company purchases agricultural products directly from producers, brands them, and then wholesale them to supermarkets.
45GF Score
Get the complete analysis for TSE:3541
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