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Exel IndustriesXPAR:EXE 67 Net Current Asset Value is €16.47 as of Mar. 2026, which is 100% below its 10-year median of 3.47. GuruFocus rates XPAR:EXE with a GF Score™ of 67/100 and a GF Value™ of €38.12 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 143 Farm & Heavy Construction Machinery companies, Exel Industries ranks better than 88.11% 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).
Exel Industries's net current asset value per share for the quarter that ended in Mar. 2026 was €16.47.
The historical rank and industry rank for Exel Industries's Net Current Asset Value or its related term are showing as below:
XPAR:EXE'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.19 Med: 3.47 Max: 11.16
Current: 1.19
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Exel Industries was 11.16. The lowest was 1.19. And the median was 3.47.
XPAR:EXE's Price-to-Net-Current-Asset-Value is ranked better than 88.11% of 143
companies
in the Farm & Heavy Construction Machinery industry
Industry Median: 3.65
vs XPAR:EXE: 1.19
Exel Industries (XPAR:EXE) 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.
Exel Industries Net Current Asset Value Related Terms
Exel Industries Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Exel Industries'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.
XPAR:EXE vs CAT, DE, PCAR: Net Current Asset Value Comparison
For the Farm & Heavy Construction Machinery subindustry, Exel Industries'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.
Exel Industries Price-to-Net-Current-Asset-Value vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Exel Industries's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Exel Industries'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 €16.47 mean?
Exel Industries (XPAR:EXE) has a Net Current Asset Value of €16.47 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 Exel Industries and its competitors. This is 375% above median its historical median of 3.47. Over the past decade, Exel Industries' Net Current Asset Value has ranged from 1.19 to 11.16. According to the industry distribution chart, Exel Industries ranks #17 out of 143 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 11.9%.
Is Exel Industries' Net Current Asset Value too high?
Exel Industries' current Net Current Asset Value of €16.47 is 375% above median its 10-year median of 3.47. Over the past 10 years, this metric has ranged from a low of 1.19 to a high of 11.16. Based on the distribution chart, Exel Industries ranks #17 out of 143 companies in the Farm & Heavy Construction Machinery industry, which is in the top quartile — a strong position relative to peers. Overall, Exel Industries has a GF Score™ of 67/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Exel Industries' Net Current Asset Value compare to CAT and DE?
According to the Farm & Heavy Construction Machinery industry distribution chart, Exel Industries ranks #17 out of 143 companies for Net Current Asset Value. This places Exel Industries in the top 12% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 3.65. Historically, Exel Industries' own Net Current Asset Value has ranged from 1.19 to 11.16 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 Farm & Heavy Construction Machinery company?
The median Net Current Asset Value among Farm & Heavy Construction Machinery companies is 3.65, based on 143 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 Exel Industries and its competitors. For the Farm & Heavy Construction Machinery industry, the median Net Current Asset Value is 3.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Exel Industries's current Net Current Asset Value is €16.47, which is 375% above median its own 10-year median of 3.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Exel Industries stock overvalued right now?
Based on GuruFocus' analysis, Exel Industries (XPAR:EXE) is currently considered Significantly Undervalued. The stock's GF Value™ is €38.12, compared to a current price of €19.60 — trading 48.6% below its estimated fair value. The current Net Current Asset Value is €16.47, which is 375% above median its 10-year median of 3.47. Exel Industries' overall GF Score™ is 67/100 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 Exel Industries (XPAR:EXE), the current Net Current Asset Value is €16.47 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 Exel Industries (XPAR:EXE) Overvalued in 2026?
Based on GuruFocus' analysis, Exel Industries stock appears to be undervalued.
The current stock price of €19.60 is trading 48.6% below its estimated GF Value™ of €38.12.
GuruFocus considers Exel Industries to be Significantly Undervalued.
Key valuation signals for XPAR:EXE:
Net Current Asset Value: €16.47 (375% above median its 10-year median of 3.47)
GF Value™: €38.12 vs. price of €19.60 (48.6% below fair value)
No single metric tells the full story. See the XPAR:EXE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Exel Industries SA is a French company which is active in the business of manufacture of spraying equipment for plant protection for professional, semi-professional and consumer agricultural applications. The company is also engaged in the business of sugar beet harvesting, providing gardening, spraying and watering equipment and industrial precision spraying solutions which cover protection, finishes, lubrication and pollution clean-up. It markets its products under the brand name of Hozelock, Berthoud, Tecnoma, Laser and Cooper Pegler brands, Kremlin rexsons and Sames. The company earns the majority of its revenue from the agricultural equipment business and geographically from Europe region.
67GF Score
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