Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Rasa IndustriesTSE:4022 +1.65%70 Net Current Asset Value is 円166.71 as of Mar. 2026, which is 100% below its 10-year median of 8.41. GuruFocus rates TSE:4022 with a GF Score™ of 70/100 and a GF Value™ of 円610.03 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 945 Chemicals companies, Rasa Industries ranks worse than 73.86% 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).
Rasa Industries's net current asset value per share for the quarter that ended in Mar. 2026 was 円166.71.
The historical rank and industry rank for Rasa Industries's Net Current Asset Value or its related term are showing as below:
TSE:4022'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 3.87 Med: 8.41 Max: 14.52
Current: 11.83
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Rasa Industries was 14.52. The lowest was 3.87. And the median was 8.41.
TSE:4022's Price-to-Net-Current-Asset-Value is ranked worse than 73.86% of 945
companies
in the Chemicals industry
Industry Median: 4.99
vs TSE:4022: 11.83
Rasa Industries (TSE:4022) 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.
Rasa Industries Net Current Asset Value Related Terms
Rasa Industries Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Rasa Industries'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:4022 vs LIN, SHW, ECL: Net Current Asset Value Comparison
For the Specialty Chemicals subindustry, Rasa Industries'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.
Rasa Industries Price-to-Net-Current-Asset-Value vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Rasa Industries's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Rasa Industries'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166.71 mean?
Rasa Industries (TSE:4022) has a Net Current Asset Value of 円166.71 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 Rasa Industries and its competitors. This is 1882% above median its historical median of 8.41. Over the past decade, Rasa Industries' Net Current Asset Value has ranged from 3.87 to 14.52. According to the industry distribution chart, Rasa Industries ranks #698 out of 945 companies in the Chemicals industry, placing it in the top 73.9%.
Is Rasa Industries' Net Current Asset Value too high?
Rasa Industries' current Net Current Asset Value of 円166.71 is 1882% above median its 10-year median of 8.41. Over the past 10 years, this metric has ranged from a low of 3.87 to a high of 14.52. Based on the distribution chart, Rasa Industries ranks #698 out of 945 companies in the Chemicals industry, which is below the industry midpoint. Overall, Rasa Industries has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Rasa Industries' Net Current Asset Value compare to LIN and SHW?
According to the Chemicals industry distribution chart, Rasa Industries ranks #698 out of 945 companies for Net Current Asset Value. This places Rasa Industries in the lower half of its industry. The industry median Net Current Asset Value is 4.99. Historically, Rasa Industries' own Net Current Asset Value has ranged from 3.87 to 14.52 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 Chemicals company?
The median Net Current Asset Value among Chemicals companies is 4.99, based on 945 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 Rasa Industries and its competitors. For the Chemicals industry, the median Net Current Asset Value is 4.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Rasa Industries's current Net Current Asset Value is 円166.71, which is 1882% above median its own 10-year median of 8.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rasa Industries stock overvalued right now?
Based on GuruFocus' analysis, Rasa Industries (TSE:4022) is currently considered Significantly Overvalued. The stock's GF Value™ is 円610.03, compared to a current price of 円1,973.00 — trading 223.4% above its estimated fair value. The current Net Current Asset Value is 円166.71, which is 1882% above median its 10-year median of 8.41. Rasa Industries' overall GF Score™ is 70/100 with 1 warning sign 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 Rasa Industries (TSE:4022), the current Net Current Asset Value is 円166.71 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 Rasa Industries (TSE:4022) Overvalued in 2026?
Based on GuruFocus' analysis, Rasa Industries stock appears to be overvalued.
The current stock price of 円1,973.00 is trading 223.4% above its estimated GF Value™ of 円610.03.
GuruFocus considers Rasa Industries to be Significantly Overvalued.
Key valuation signals for TSE:4022:
Net Current Asset Value: 円166.71 (1882% above median its 10-year median of 8.41)
GF Value™: 円610.03 vs. price of 円1,973.00 (223.4% above fair value)
No single metric tells the full story. See the TSE:4022 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Rasa Industries Ltd is engaged in the chemicals, machinery, and electronic materials business. The chemicals division manufactures and sells basic chemicals based on phosphorus-based products. The machinery division provides various machines such as drilling, crushing, and sorting, and the Electronic materials division is engaged in the development of the electronics industry by supplying high-purity inorganic materials that are raw materials for compound semiconductors, as well as resist strippers and coating agents used in semiconductor and liquid crystal panel manufacturing processes.
70GF Score
Get the complete analysis for TSE:4022
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:4022 has been successfully added to your 
