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Maruichi Steel TubeTSE:5463 -1.85%85 Net Current Asset Value is 円654.62 as of Mar. 2026, which is 100% below its 10-year median of 2.04. GuruFocus rates TSE:5463 with a GF Score™ of 85/100 and a GF Value™ of 円1,209.60 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 369 Steel companies, Maruichi Steel Tube ranks better than 51.49% 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).
Maruichi Steel Tube's net current asset value per share for the quarter that ended in Mar. 2026 was 円654.62.
The historical rank and industry rank for Maruichi Steel Tube's Net Current Asset Value or its related term are showing as below:
TSE:5463'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.68 Med: 2.04 Max: 2.76
Current: 2.76
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Maruichi Steel Tube was 2.76. The lowest was 1.68. And the median was 2.04.
TSE:5463's Price-to-Net-Current-Asset-Value is ranked better than 51.49% of 369
companies
in the Steel industry
Industry Median: 2.93
vs TSE:5463: 2.76
Maruichi Steel Tube (TSE:5463) 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.
Maruichi Steel Tube Net Current Asset Value Related Terms
Maruichi Steel Tube Net Current Asset Value Historical Data
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The historical data trend for Maruichi Steel Tube'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:5463 vs NUE, STLD, RS: Net Current Asset Value Comparison
For the Steel subindustry, Maruichi Steel Tube'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.
Maruichi Steel Tube Price-to-Net-Current-Asset-Value vs Steel Industry
For the Steel industry and Basic Materials sector, Maruichi Steel Tube's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Maruichi Steel Tube'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654.62 mean?
Maruichi Steel Tube (TSE:5463) has a Net Current Asset Value of 円654.62 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 Maruichi Steel Tube and its competitors. This is 31989% above median its historical median of 2.04. Over the past decade, Maruichi Steel Tube's Net Current Asset Value has ranged from 1.68 to 2.76. According to the industry distribution chart, Maruichi Steel Tube ranks #179 out of 369 companies in the Steel industry, placing it in the top 48.5%.
Is Maruichi Steel Tube's Net Current Asset Value too high?
Maruichi Steel Tube's current Net Current Asset Value of 円654.62 is 31989% above median its 10-year median of 2.04. Over the past 10 years, this metric has ranged from a low of 1.68 to a high of 2.76. Based on the distribution chart, Maruichi Steel Tube ranks #179 out of 369 companies in the Steel industry, which is above the industry midpoint. Overall, Maruichi Steel Tube has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Maruichi Steel Tube's Net Current Asset Value compare to NUE and STLD?
According to the Steel industry distribution chart, Maruichi Steel Tube ranks #179 out of 369 companies for Net Current Asset Value. This puts Maruichi Steel Tube in the upper half of its industry. The industry median Net Current Asset Value is 2.93. Historically, Maruichi Steel Tube's own Net Current Asset Value has ranged from 1.68 to 2.76 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 Steel company?
The median Net Current Asset Value among Steel companies is 2.93, based on 369 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 Maruichi Steel Tube and its competitors. For the Steel industry, the median Net Current Asset Value is 2.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Maruichi Steel Tube's current Net Current Asset Value is 円654.62, which is 31989% above median its own 10-year median of 2.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maruichi Steel Tube stock overvalued right now?
Based on GuruFocus' analysis, Maruichi Steel Tube (TSE:5463) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,209.60, compared to a current price of 円1,806.00 — trading 49.3% above its estimated fair value. The current Net Current Asset Value is 円654.62, which is 31989% above median its 10-year median of 2.04. Maruichi Steel Tube's overall GF Score™ is 85/100 with 8 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 Maruichi Steel Tube (TSE:5463), the current Net Current Asset Value is 円654.62 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 Maruichi Steel Tube (TSE:5463) Overvalued in 2026?
Based on GuruFocus' analysis, Maruichi Steel Tube stock appears to be overvalued.
The current stock price of 円1,806.00 is trading 49.3% above its estimated GF Value™ of 円1,209.60.
GuruFocus considers Maruichi Steel Tube to be Significantly Overvalued.
Key valuation signals for TSE:5463:
Net Current Asset Value: 円654.62 (31989% above median its 10-year median of 2.04)
GF Value™: 円1,209.60 vs. price of 円1,806.00 (49.3% above fair value)
No single metric tells the full story. See the TSE:5463 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Maruichi Steel Tube Ltd is a Japan-based company that manufactures and sells steel tubes and steel sheet coating. The company's product portfolio includes welded steel tubes, hot-dip galvanized steel sheet, lighting poles, and prepainted steel sheet. Its products are used in architecture, civil engineering, machinery, power generation plants, automobiles, motorcycles, medical equipment, fitness machines, office automation equipment, office and educational furniture, and others.
85GF Score
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Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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