Nichia Steel WorksTSE:5658 68 Net Current Asset Value is 円319.75 as of Mar. 2026, which is 100% below its 10-year median of 1.18. GuruFocus rates TSE:5658 with a GF Score™ of 68/100 and a GF Value™ of 円326.41 (Fairly Valued). The stock has 5 warning signs investors should review. Among 2,214 Industrial Products companies, Nichia Steel Works ranks better than 92.14% 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).
Nichia Steel Works's net current asset value per share for the quarter that ended in Mar. 2026 was 円319.75.
The historical rank and industry rank for Nichia Steel Works's Net Current Asset Value or its related term are showing as below:
TSE:5658'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.92 Med: 1.18 Max: 2.01
Current: 1.1
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Nichia Steel Works was 2.01. The lowest was 0.92. And the median was 1.18.
TSE:5658's Price-to-Net-Current-Asset-Value is ranked better than 92.14% of 2214
companies
in the Industrial Products industry
Industry Median: 5.3
vs TSE:5658: 1.10
Nichia Steel Works (TSE:5658) 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.
Nichia Steel Works Net Current Asset Value Related Terms
Nichia Steel Works Net Current Asset Value Historical Data
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The historical data trend for Nichia Steel Works'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:5658 vs SNA, RBC, LECO: Net Current Asset Value Comparison
For the Tools & Accessories subindustry, Nichia Steel Works'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.
Nichia Steel Works Price-to-Net-Current-Asset-Value vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Nichia Steel Works's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Nichia Steel Works'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319.75 mean?
Nichia Steel Works (TSE:5658) has a Net Current Asset Value of 円319.75 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 Nichia Steel Works and its competitors. This is 26997% above median its historical median of 1.18. Over the past decade, Nichia Steel Works' Net Current Asset Value has ranged from 0.92 to 2.01. According to the industry distribution chart, Nichia Steel Works ranks #174 out of 2214 companies in the Industrial Products industry, placing it in the top 7.9%.
Is Nichia Steel Works' Net Current Asset Value too high?
Nichia Steel Works' current Net Current Asset Value of 円319.75 is 26997% above median its 10-year median of 1.18. Over the past 10 years, this metric has ranged from a low of 0.92 to a high of 2.01. Based on the distribution chart, Nichia Steel Works ranks #174 out of 2214 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Nichia Steel Works has a GF Score™ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Nichia Steel Works' Net Current Asset Value compare to SNA and RBC?
According to the Industrial Products industry distribution chart, Nichia Steel Works ranks #174 out of 2214 companies for Net Current Asset Value. This places Nichia Steel Works in the top 8% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 5.30. Historically, Nichia Steel Works' own Net Current Asset Value has ranged from 0.92 to 2.01 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 an Industrial Products company?
The median Net Current Asset Value among Industrial Products companies is 5.30, based on 2,214 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 Nichia Steel Works and its competitors. For the Industrial Products industry, the median Net Current Asset Value is 5.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nichia Steel Works's current Net Current Asset Value is 円319.75, which is 26997% above median its own 10-year median of 1.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nichia Steel Works stock overvalued right now?
Based on GuruFocus' analysis, Nichia Steel Works (TSE:5658) is currently considered Fairly Valued. The stock's GF Value™ is 円326.41, compared to a current price of 円352.00 — trading 7.8% above its estimated fair value. The current Net Current Asset Value is 円319.75, which is 26997% above median its 10-year median of 1.18. Nichia Steel Works' overall GF Score™ is 68/100 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 Nichia Steel Works (TSE:5658), the current Net Current Asset Value is 円319.75 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 Nichia Steel Works (TSE:5658) Overvalued in 2026?
Based on GuruFocus' analysis, Nichia Steel Works stock appears to be overvalued.
The current stock price of 円352.00 is trading 7.8% above its estimated GF Value™ of 円326.41.
GuruFocus considers Nichia Steel Works to be Fairly Valued.
Key valuation signals for TSE:5658:
Net Current Asset Value: 円319.75 (26997% above median its 10-year median of 1.18)
GF Value™: 円326.41 vs. price of 円352.00 (7.8% above fair value)
No single metric tells the full story. See the TSE:5658 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nichia Steel Works Ltd is a manufacturer of steel wire products, fasteners and related products. The products are used in various fields such as construction and civil infrastructure. It offers low carbon steel wire products, hard drawn steel wire products, fasteners & special products and other special finished products.
68GF Score
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