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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).
Arakawa Chemical Industries's net current asset value per share for the quarter that ended in Jun. 2026 was 円104.14.
The historical rank and industry rank for Arakawa Chemical Industries's Net Current Asset Value or its related term are showing as below:
TSE:4968'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.38 Med: 2.3 Max: 20.92
Current: 19.66
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Arakawa Chemical Industries was 20.92. The lowest was 1.38. And the median was 2.30.
TSE:4968's Price-to-Net-Current-Asset-Value is ranked worse than 85.3% of 959
companies
in the Chemicals industry
Industry Median: 5.13
vs TSE:4968: 19.66
Arakawa Chemical Industries (TSE:4968) 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.
Arakawa Chemical Industries Net Current Asset Value Related Terms
Arakawa Chemical 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.
Arakawa Chemical Industries Net Current Asset Value Chart
TSE:4968 vs LIN, SHW, ECL: Net Current Asset Value Comparison
For the Specialty Chemicals subindustry, Arakawa Chemical 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.
Arakawa Chemical Industries Price-to-Net-Current-Asset-Value vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Arakawa Chemical Industries's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Arakawa Chemical 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104.14 mean?
Arakawa Chemical Industries (TSE:4968) has a Net Current Asset Value of 円104.14 as of Jun. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Arakawa Chemical Industries and its competitors. According to the industry distribution chart, Arakawa Chemical Industries ranks #818 out of 959 companies in the Chemicals industry, placing it in the top 85.3%.
Is Arakawa Chemical Industries' Net Current Asset Value too high?
Arakawa Chemical Industries' current Net Current Asset Value is 円104.14. Based on the distribution chart, Arakawa Chemical Industries ranks #818 out of 959 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Arakawa Chemical Industries has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Arakawa Chemical Industries' Net Current Asset Value compare to LIN and SHW?
According to the Chemicals industry distribution chart, Arakawa Chemical Industries ranks #818 out of 959 companies for Net Current Asset Value. This places Arakawa Chemical Industries in the lower half of its industry. The industry median Net Current Asset Value is 5.13. 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 5.13, based on 959 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 Arakawa Chemical Industries and its competitors. For the Chemicals industry, the median Net Current Asset Value is 5.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Arakawa Chemical Industries's current Net Current Asset Value is 円104.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arakawa Chemical Industries stock overvalued right now?
Based on GuruFocus' analysis, Arakawa Chemical Industries (TSE:4968) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,315.44, compared to a current price of 円2,047.00 — trading 55.6% above its estimated fair value. The current Net Current Asset Value is 円104.14. Arakawa Chemical Industries' overall GF Score™ is 66/100 with 4 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 Arakawa Chemical Industries (TSE:4968), the current Net Current Asset Value is 円104.14 as of Jun. 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 Arakawa Chemical Industries (TSE:4968) Overvalued in 2026?
Based on GuruFocus' analysis, Arakawa Chemical Industries stock appears to be overvalued.
The current stock price of 円2,047.00 is trading 55.6% above its estimated GF Value™ of 円1,315.44.
GuruFocus considers Arakawa Chemical Industries to be Significantly Overvalued.
Key valuation signals for TSE:4968:
Net Current Asset Value: 円104.14
GF Value™: 円1,315.44 vs. price of 円2,047.00 (55.6% above fair value)
No single metric tells the full story. See the TSE:4968 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Arakawa Chemical Industries Ltd is engaged in the production and sales of paper chemicals, resins for printing inks, resins for adhesives/adhesives, and intermediates for electronic materials. It manufactures various paper chemicals including water-repellents, sizing agents, paper surface improving agents, and paper strengthening, and other types of papers. It also provides printing inks for offset printing; book (magazine)-gravures and food-package-gravures. It also offers electronic materials, including rosins for use as raw material of chemicals and electronic components.
66GF Score
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