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).
Cleanaway Waste Management's net current asset value per share for the quarter that ended in Dec. 2025 was $-0.95.
The historical rank and industry rank for Cleanaway Waste Management's Net Current Asset Value or its related term are showing as below:
TSPCF's Price-to-Net-Current-Asset-Value is not ranked *
in the Waste Management industry.
Industry Median: 4.475 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Cleanaway Waste Management (OTCPK:TSPCF) 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.
Cleanaway Waste Management Net Current Asset Value Related Terms
Cleanaway Waste Management 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.
Cleanaway Waste Management Net Current Asset Value Chart
TSPCF vs WM, RSG, WCN: Net Current Asset Value Comparison
For the Waste Management subindustry, Cleanaway Waste Management'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.
Cleanaway Waste Management Price-to-Net-Current-Asset-Value vs Waste Management Industry
For the Waste Management industry and Industrials sector, Cleanaway Waste Management's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Cleanaway Waste Management'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 $-0.95 mean?
Cleanaway Waste Management (TSPCF) has a Net Current Asset Value of $-0.95 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Cleanaway Waste Management and its competitors. According to the industry distribution chart, Cleanaway Waste Management ranks #999999 out of 96 companies in the Waste Management industry.
Is Cleanaway Waste Management's Net Current Asset Value too high?
Cleanaway Waste Management's current Net Current Asset Value is $-0.95. Based on the distribution chart, Cleanaway Waste Management ranks #999999 out of 96 companies in the Waste Management industry, which is in the bottom quartile relative to peers. Overall, Cleanaway Waste Management has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Cleanaway Waste Management's Net Current Asset Value compare to WM and RSG?
According to the Waste Management industry distribution chart, Cleanaway Waste Management ranks #999999 out of 96 companies for Net Current Asset Value. This places Cleanaway Waste Management in the lower half of its industry. The industry median Net Current Asset Value is 4.48. 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 Waste Management company?
The median Net Current Asset Value among Waste Management companies is 4.48, based on 96 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 Cleanaway Waste Management and its competitors. For the Waste Management industry, the median Net Current Asset Value is 4.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cleanaway Waste Management's current Net Current Asset Value is $-0.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cleanaway Waste Management stock overvalued right now?
Based on GuruFocus' analysis, Cleanaway Waste Management (TSPCF) is currently considered Modestly Undervalued. The stock's GF Value™ is $2.26, compared to a current price of $1.75 — trading 22.6% below its estimated fair value. The current Net Current Asset Value is $-0.95. Cleanaway Waste Management's overall GF Score™ is 85/100 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 Cleanaway Waste Management (TSPCF), the current Net Current Asset Value is $-0.95 as of Dec. 2025. 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 Cleanaway Waste Management (TSPCF) Overvalued in 2026?
Based on GuruFocus' analysis, Cleanaway Waste Management stock appears to be undervalued.
The current stock price of $1.75 is trading 22.6% below its estimated GF Value™ of $2.26.
GuruFocus considers Cleanaway Waste Management to be Modestly Undervalued.
Key valuation signals for TSPCF:
Net Current Asset Value: $-0.95
GF Value™: $2.26 vs. price of $1.75 (22.6% below fair value)
No single metric tells the full story. See the TSPCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cleanaway Waste Management is Australia's largest waste management business with a national footprint in the collection and disposal of waste. It is active in municipal and commercial and industrial waste stream segments and in nonhazardous and hazardous liquid and medical waste. While Cleanaway is allocating greater capital to waste processing and treatment, earnings remain skewed toward waste collection. The company is particularly strong in commercial, industrial, and municipal waste collection with strong market share in all large Australian metro waste collection markets.
85GF Score
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