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.
Fuso Pharmaceutical IndustriesTSE:4538 +1.06%51 Net Current Asset Value is 円242.47 as of Mar. 2026, which is 100% below its 10-year median of 6.68. GuruFocus rates TSE:4538 with a GF Score™ of 51/100 and a GF Value™ of 円2,556.60 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 611 Drug Manufacturers companies, Fuso Pharmaceutical Industries ranks worse than 66.12% 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).
The historical rank and industry rank for Fuso Pharmaceutical Industries's Net Current Asset Value or its related term are showing as below:
TSE:4538'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 2.73 Med: 6.68 Max: 33.41
Current: 9.05
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Fuso Pharmaceutical Industries was 33.41. The lowest was 2.73. And the median was 6.68.
TSE:4538's Price-to-Net-Current-Asset-Value is ranked worse than 66.12% of 611
companies
in the Drug Manufacturers industry
Industry Median: 5.78
vs TSE:4538: 9.05
Fuso Pharmaceutical Industries (TSE:4538) 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.
Fuso Pharmaceutical Industries Net Current Asset Value Related Terms
Fuso Pharmaceutical Industries Net Current Asset Value Historical Data
* 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.
Fuso Pharmaceutical Industries Net Current Asset Value Chart
TSE:4538 vs ZTS, UTHR: Net Current Asset Value Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Fuso Pharmaceutical 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.
Fuso Pharmaceutical Industries Price-to-Net-Current-Asset-Value vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Fuso Pharmaceutical Industries's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Fuso Pharmaceutical 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242.47 mean?
Fuso Pharmaceutical Industries (TSE:4538) has a Net Current Asset Value of 円242.47 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 Fuso Pharmaceutical Industries and its competitors. This is 3530% above median its historical median of 6.68. Over the past decade, Fuso Pharmaceutical Industries' Net Current Asset Value has ranged from 2.73 to 33.41. According to the industry distribution chart, Fuso Pharmaceutical Industries ranks #404 out of 611 companies in the Drug Manufacturers industry, placing it in the top 66.1%.
Is Fuso Pharmaceutical Industries' Net Current Asset Value too high?
Fuso Pharmaceutical Industries' current Net Current Asset Value of 円242.47 is 3530% above median its 10-year median of 6.68. Over the past 10 years, this metric has ranged from a low of 2.73 to a high of 33.41. Based on the distribution chart, Fuso Pharmaceutical Industries ranks #404 out of 611 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Fuso Pharmaceutical Industries has a GF Score™ of 51/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fuso Pharmaceutical Industries' Net Current Asset Value compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Fuso Pharmaceutical Industries ranks #404 out of 611 companies for Net Current Asset Value. This places Fuso Pharmaceutical Industries in the lower half of its industry. The industry median Net Current Asset Value is 5.78. Historically, Fuso Pharmaceutical Industries' own Net Current Asset Value has ranged from 2.73 to 33.41 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 Drug Manufacturers company?
The median Net Current Asset Value among Drug Manufacturers companies is 5.78, based on 611 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 Fuso Pharmaceutical Industries and its competitors. For the Drug Manufacturers industry, the median Net Current Asset Value is 5.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fuso Pharmaceutical Industries's current Net Current Asset Value is 円242.47, which is 3530% above median its own 10-year median of 6.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fuso Pharmaceutical Industries stock overvalued right now?
Based on GuruFocus' analysis, Fuso Pharmaceutical Industries (TSE:4538) is currently considered Modestly Undervalued. The stock's GF Value™ is 円2,556.60, compared to a current price of 円2,194.00 — trading 14.2% below its estimated fair value. The current Net Current Asset Value is 円242.47, which is 3530% above median its 10-year median of 6.68. Fuso Pharmaceutical Industries' overall GF Score™ is 51/100 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 Fuso Pharmaceutical Industries (TSE:4538), the current Net Current Asset Value is 円242.47 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 Fuso Pharmaceutical Industries (TSE:4538) Overvalued in 2026?
Based on GuruFocus' analysis, Fuso Pharmaceutical Industries stock appears to be undervalued.
The current stock price of 円2,194.00 is trading 14.2% below its estimated GF Value™ of 円2,556.60.
GuruFocus considers Fuso Pharmaceutical Industries to be Modestly Undervalued.
Key valuation signals for TSE:4538:
Net Current Asset Value: 円242.47 (3530% above median its 10-year median of 6.68)
GF Value™: 円2,556.60 vs. price of 円2,194.00 (14.2% below fair value)
No single metric tells the full story. See the TSE:4538 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fuso Pharmaceutical Industries Business Description
Fuso Pharmaceutical Industries Ltd. is engaged in the manufacture and sale of pharmaceuticals and medical equipment. The company's main products are transfusion fluid and artificial kidney dialysis fluid. Company also includes real estate segment.
51GF Score
Get the complete analysis for TSE:4538
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:4538 has been successfully added to your 
