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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).
Keyware Solutions's net current asset value per share for the quarter that ended in Mar. 2026 was 円700.32.
The historical rank and industry rank for Keyware Solutions's Net Current Asset Value or its related term are showing as below:
TSE:3799'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.08 Med: 1.52 Max: 2.87
Current: 1.69
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Keyware Solutions was 2.87. The lowest was 1.08. And the median was 1.52.
TSE:3799's Price-to-Net-Current-Asset-Value is ranked better than 86.68% of 1757
companies
in the Software industry
Industry Median: 5.2
vs TSE:3799: 1.69
Keyware Solutions (TSE:3799) 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.
Keyware Solutions Net Current Asset Value Related Terms
Keyware Solutions Net Current Asset Value Historical Data
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The historical data trend for Keyware Solutions'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:3799 vs IBM, ACN, CTSH: Net Current Asset Value Comparison
For the Information Technology Services subindustry, Keyware Solutions'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.
Keyware Solutions Price-to-Net-Current-Asset-Value vs Software Industry
For the Software industry and Technology sector, Keyware Solutions's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Keyware Solutions'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700.32 mean?
Keyware Solutions (TSE:3799) has a Net Current Asset Value of 円700.32 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 Keyware Solutions and its competitors. According to the industry distribution chart, Keyware Solutions ranks #234 out of 1757 companies in the Software industry, placing it in the top 13.3%.
Is Keyware Solutions' Net Current Asset Value too high?
Keyware Solutions' current Net Current Asset Value is 円700.32. Based on the distribution chart, Keyware Solutions ranks #234 out of 1757 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Keyware Solutions has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Keyware Solutions' Net Current Asset Value compare to IBM and ACN?
According to the Software industry distribution chart, Keyware Solutions ranks #234 out of 1757 companies for Net Current Asset Value. This places Keyware Solutions in the top 13% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 5.20. 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 Software company?
The median Net Current Asset Value among Software companies is 5.20, based on 1,757 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 Keyware Solutions and its competitors. For the Software industry, the median Net Current Asset Value is 5.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Keyware Solutions's current Net Current Asset Value is 円700.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Keyware Solutions stock overvalued right now?
Based on GuruFocus' analysis, Keyware Solutions (TSE:3799) is currently considered Significantly Overvalued. The stock's GF Value™ is 円844.12, compared to a current price of 円1,144.00 — trading 35.5% above its estimated fair value. The current Net Current Asset Value is 円700.32. Keyware Solutions' overall GF Score™ is 71/100. 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 Keyware Solutions (TSE:3799), the current Net Current Asset Value is 円700.32 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 Keyware Solutions (TSE:3799) Overvalued in 2026?
Based on GuruFocus' analysis, Keyware Solutions stock appears to be overvalued.
The current stock price of 円1,144.00 is trading 35.5% above its estimated GF Value™ of 円844.12.
GuruFocus considers Keyware Solutions to be Significantly Overvalued.
Key valuation signals for TSE:3799:
Net Current Asset Value: 円700.32
GF Value™: 円844.12 vs. price of 円1,144.00 (35.5% above fair value)
No single metric tells the full story. See the TSE:3799 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Keyware Solutions Inc is a Japan-based Information Technology (IT) service management company. It operates in two divisions including system development business and Integrated IT service business. System development business is mainly engaged in the construction and development of applications and systems related to social infrastructure. Integrated IT service division offers packaged software, hardware and support services. The company mainly caters to financial, distribution, manufacturing, communication, transportation, reporting, medical, government agency, and service industries.
71GF Score
Get the complete analysis for TSE:3799
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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