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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).
Dai Nippon Toryo Co's net current asset value per share for the quarter that ended in Mar. 2026 was 円-677.10.
The historical rank and industry rank for Dai Nippon Toryo Co's Net Current Asset Value or its related term are showing as below:
TSE:4611's Price-to-Net-Current-Asset-Value is not ranked *
in the Chemicals industry.
Industry Median: 4.99 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Dai Nippon Toryo Co (TSE:4611) 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.
Dai Nippon Toryo Co Net Current Asset Value Related Terms
Dai Nippon Toryo Co Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Dai Nippon Toryo 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:4611 vs LIN, SHW, ECL: Net Current Asset Value Comparison
For the Specialty Chemicals subindustry, Dai Nippon Toryo 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.
Dai Nippon Toryo Co Price-to-Net-Current-Asset-Value vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Dai Nippon Toryo Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Dai Nippon Toryo 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-677.10 mean?
Dai Nippon Toryo Co (TSE:4611) has a Net Current Asset Value of 円-677.10 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 Dai Nippon Toryo Co and its competitors. According to the industry distribution chart, Dai Nippon Toryo Co ranks #999999 out of 945 companies in the Chemicals industry.
Is Dai Nippon Toryo Co's Net Current Asset Value too high?
Dai Nippon Toryo Co's current Net Current Asset Value is 円-677.10. Based on the distribution chart, Dai Nippon Toryo Co ranks #999999 out of 945 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Dai Nippon Toryo Co has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Dai Nippon Toryo Co's Net Current Asset Value compare to LIN and SHW?
According to the Chemicals industry distribution chart, Dai Nippon Toryo Co ranks #999999 out of 945 companies for Net Current Asset Value. This places Dai Nippon Toryo Co in the lower half of its industry. The industry median Net Current Asset Value is 4.99. 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 Dai Nippon Toryo Co 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. Dai Nippon Toryo Co's current Net Current Asset Value is 円-677.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dai Nippon Toryo Co stock overvalued right now?
Based on GuruFocus' analysis, Dai Nippon Toryo Co (TSE:4611) is currently considered Fairly Valued. The stock's GF Value™ is 円1,510.19, compared to a current price of 円1,388.00 — trading 8.1% below its estimated fair value. The current Net Current Asset Value is 円-677.10. Dai Nippon Toryo Co's overall GF Score™ is 73/100 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 Dai Nippon Toryo Co (TSE:4611), the current Net Current Asset Value is 円-677.10 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 Dai Nippon Toryo Co (TSE:4611) Overvalued in 2026?
Based on GuruFocus' analysis, Dai Nippon Toryo Co stock appears to be undervalued.
The current stock price of 円1,388.00 is trading 8.1% below its estimated GF Value™ of 円1,510.19.
GuruFocus considers Dai Nippon Toryo Co to be Fairly Valued.
Key valuation signals for TSE:4611:
Net Current Asset Value: 円-677.10
GF Value™: 円1,510.19 vs. price of 円1,388.00 (8.1% below fair value)
No single metric tells the full story. See the TSE:4611 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dai Nippon Toryo Co Ltd is a Japan-based company engaged in the production and sales of coatings and jet inks. Its product lines include protective, decorative, automobile, and industrial. Products offered by the company include anticorrosive coatings, water-based coatings, and coatings for industrial use. Protective coatings are used in the steel frames of buildings, bridges, industrial plants, and concrete structures. Decorative coatings are used for the interiors, exteriors, and roofs of residential buildings. Automobile coatings are used in automotive components, such as bumpers, door mirrors, and other interior and exterior components. Industrial coatings are designed for applications, such as curtain walls, aluminum sashes, steel furniture, agricultural and construction machinery.
73GF Score
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