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).
Aforti Holding's net current asset value per share for the quarter that ended in Mar. 2026 was zł-32.13.
The historical rank and industry rank for Aforti Holding's Net Current Asset Value or its related term are showing as below:
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Aforti Holding was 114.71. The lowest was 114.71. And the median was 114.71.
WAR:AFH's Price-to-Net-Current-Asset-Value is not ranked *
in the Business Services industry.
Industry Median: 3.76 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Aforti Holding (WAR:AFH) 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.
Aforti Holding Net Current Asset Value Related Terms
Aforti Holding Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Aforti Holding'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.
WAR:AFH vs CTAS, GPN, ARMK: Net Current Asset Value Comparison
For the Specialty Business Services subindustry, Aforti Holding'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.
Aforti Holding Price-to-Net-Current-Asset-Value vs Business Services Industry
For the Business Services industry and Industrials sector, Aforti Holding's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Aforti Holding'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 zł-32.13 mean?
Aforti Holding (WAR:AFH) has a Net Current Asset Value of zł-32.13 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 Aforti Holding and its competitors. Over the past decade, Aforti Holding's Net Current Asset Value has ranged from 114.71 to 114.71.
Is Aforti Holding's Net Current Asset Value too high?
Aforti Holding's current Net Current Asset Value is zł-32.13. Over the past 10 years, this metric has ranged from a low of 114.71 to a high of 114.71. Overall, Aforti Holding has a GF Score™ of 8/100, reflecting its overall financial health beyond just this single metric.
How does Aforti Holding's Net Current Asset Value compare to CTAS and GPN?
Aforti Holding's Net Current Asset Value of zł-32.13 can be compared against companies in the Business Services industry. The industry median Net Current Asset Value is 3.76. Historically, Aforti Holding's own Net Current Asset Value has ranged from 114.71 to 114.71 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 Business Services company?
The median Net Current Asset Value among Business Services companies is 3.76, based on 625 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 Aforti Holding and its competitors. For the Business Services industry, the median Net Current Asset Value is 3.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aforti Holding's current Net Current Asset Value is zł-32.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aforti Holding stock overvalued right now?
Aforti Holding (WAR:AFH) has a current Net Current Asset Value of zł-32.13. The stock's GF Value™ is zł7.67, compared to a current price of zł2.50 — trading 67.4% below its estimated fair value. The current Net Current Asset Value is zł-32.13. Aforti Holding's overall GF Score™ is 8/100 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 Aforti Holding (WAR:AFH), the current Net Current Asset Value is zł-32.13 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 Aforti Holding (WAR:AFH) Overvalued in 2026?
Based on GuruFocus' analysis, Aforti Holding stock appears to be undervalued.
The current stock price of zł2.50 is trading 67.4% below its estimated GF Value™ of zł7.67.
Key valuation signals for WAR:AFH:
Net Current Asset Value: zł-32.13
GF Value™: zł7.67 vs. price of zł2.50 (67.4% below fair value)
No single metric tells the full story. See the WAR:AFH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aforti Holding SA is a financial group that offers services in private and corporate finance. The company addresses the needs of Entrepreneurs as well as companies of the SME sector by offering a wide range of financial services that support business development, such as financing the company operations, online foreign exchange, management of liabilities, or factoring. It operates in Warsaw, Szczecin, Poznan, Cracow, Rzeszow, Rybnik, and Katowice.
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