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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).
XMAD:GGC'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 7.7 Med: 17.81 Max: 34.15
Current: 7.7
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of General De Galerias Comerciales Socimi was 34.15. The lowest was 7.70. And the median was 17.81.
XMAD:GGC's Price-to-Net-Current-Asset-Value is ranked worse than 50.48% of 105
companies
in the REITs industry
Industry Median: 7.7
vs XMAD:GGC: 7.70
General De Galerias Comerciales Socimi (XMAD:GGC) 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.
General De Galerias Comerciales Socimi Net Current Asset Value Related Terms
General De Galerias Comerciales Socimi 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.
General De Galerias Comerciales Socimi Net Current Asset Value Chart
General De Galerias Comerciales Socimi Annual Data
XMAD:GGC vs SPG, O, KIM: Net Current Asset Value Comparison
For the REIT - Retail subindustry, General De Galerias Comerciales Socimi'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.
General De Galerias Comerciales Socimi Price-to-Net-Current-Asset-Value vs REITs Industry
For the REITs industry and Real Estate sector, General De Galerias Comerciales Socimi's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where General De Galerias Comerciales Socimi'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 €20.90 mean?
General De Galerias Comerciales Socimi (XMAD:GGC) has a Net Current Asset Value of €20.90 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 General De Galerias Comerciales Socimi and its competitors. This is 17% above median its historical median of 17.81. Over the past decade, General De Galerias Comerciales Socimi's Net Current Asset Value has ranged from 7.70 to 34.15. According to the industry distribution chart, General De Galerias Comerciales Socimi ranks #53 out of 105 companies in the REITs industry, placing it in the top 50.5%.
Is General De Galerias Comerciales Socimi's Net Current Asset Value too high?
General De Galerias Comerciales Socimi's current Net Current Asset Value of €20.90 is 17% above median its 10-year median of 17.81. Over the past 10 years, this metric has ranged from a low of 7.70 to a high of 34.15. Based on the distribution chart, General De Galerias Comerciales Socimi ranks #53 out of 105 companies in the REITs industry, which is below the industry midpoint. Overall, General De Galerias Comerciales Socimi has a GF Score™ of 91/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does General De Galerias Comerciales Socimi's Net Current Asset Value compare to SPG and O?
According to the REITs industry distribution chart, General De Galerias Comerciales Socimi ranks #53 out of 105 companies for Net Current Asset Value. This places General De Galerias Comerciales Socimi in the lower half of its industry. The industry median Net Current Asset Value is 7.70. Historically, General De Galerias Comerciales Socimi's own Net Current Asset Value has ranged from 7.70 to 34.15 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 REITs company?
The median Net Current Asset Value among REITs companies is 7.70, based on 105 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 General De Galerias Comerciales Socimi and its competitors. For the REITs industry, the median Net Current Asset Value is 7.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. General De Galerias Comerciales Socimi's current Net Current Asset Value is €20.90, which is 17% above median its own 10-year median of 17.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is General De Galerias Comerciales Socimi stock overvalued right now?
Based on GuruFocus' analysis, General De Galerias Comerciales Socimi (XMAD:GGC) is currently considered Fairly Valued. The stock's GF Value™ is €155.85, compared to a current price of €161.00 — trading 3.3% above its estimated fair value. The current Net Current Asset Value is €20.90, which is 17% above median its 10-year median of 17.81. General De Galerias Comerciales Socimi's overall GF Score™ is 91/100 with 1 warning sign 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 General De Galerias Comerciales Socimi (XMAD:GGC), the current Net Current Asset Value is €20.90 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 General De Galerias Comerciales Socimi (XMAD:GGC) Overvalued in 2026?
Based on GuruFocus' analysis, General De Galerias Comerciales Socimi stock appears to be overvalued.
The current stock price of €161.00 is trading 3.3% above its estimated GF Value™ of €155.85.
GuruFocus considers General De Galerias Comerciales Socimi to be Fairly Valued.
Key valuation signals for XMAD:GGC:
Net Current Asset Value: €20.90 (17% above median its 10-year median of 17.81)
GF Value™: €155.85 vs. price of €161.00 (3.3% above fair value)
No single metric tells the full story. See the XMAD:GGC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
General De Galerias Comerciales Socimi Business Description
General De Galerías Comerciales Socimi SA is a Spanish investment real estate company. The company is specialized in developing, acquiring and managing quality tertiary real estate assets in the Spanish market. It manages six shopping centres, being five of them located in Andalucía and the other one in Cataluna.
91GF Score
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