Implenia AGXSWX:IMPN +3.90%58 Net Current Asset Value is CHF-23.19 as of Dec. 2025. GuruFocus rates XSWX:IMPN with a GF Score™ of 58/100 and a GF Value™ of CHF35.34 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,055 Construction companies, Implenia AG ranks worse than 94786.64% 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).
Implenia AG's net current asset value per share for the quarter that ended in Dec. 2025 was CHF-23.19.
The historical rank and industry rank for Implenia AG'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 Implenia AG was 15.21. The lowest was 15.21. And the median was 15.21.
XSWX:IMPN's Price-to-Net-Current-Asset-Value is not ranked *
in the Construction industry.
Industry Median: 3.25 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Implenia AG (XSWX:IMPN) 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.
Implenia AG Net Current Asset Value Related Terms
Implenia AG Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Implenia AG'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.
XSWX:IMPN vs PWR, FIX, EME: Net Current Asset Value Comparison
For the Engineering & Construction subindustry, Implenia AG'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.
Implenia AG Price-to-Net-Current-Asset-Value vs Construction Industry
For the Construction industry and Industrials sector, Implenia AG's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Implenia AG'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 CHF-23.19 mean?
Implenia AG (XSWX:IMPN) has a Net Current Asset Value of CHF-23.19 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 Implenia AG and its competitors. Over the past decade, Implenia AG's Net Current Asset Value has ranged from 15.21 to 15.21. According to the industry distribution chart, Implenia AG ranks #999999 out of 1055 companies in the Construction industry.
Is Implenia AG's Net Current Asset Value too high?
Implenia AG's current Net Current Asset Value is CHF-23.19. Over the past 10 years, this metric has ranged from a low of 15.21 to a high of 15.21. Based on the distribution chart, Implenia AG ranks #999999 out of 1055 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Implenia AG has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Implenia AG's Net Current Asset Value compare to PWR and FIX?
According to the Construction industry distribution chart, Implenia AG ranks #999999 out of 1055 companies for Net Current Asset Value. This places Implenia AG in the lower half of its industry. The industry median Net Current Asset Value is 3.25. Historically, Implenia AG's own Net Current Asset Value has ranged from 15.21 to 15.21 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 Construction company?
The median Net Current Asset Value among Construction companies is 3.25, based on 1,055 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 Implenia AG and its competitors. For the Construction industry, the median Net Current Asset Value is 3.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Implenia AG's current Net Current Asset Value is CHF-23.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Implenia AG stock overvalued right now?
Based on GuruFocus' analysis, Implenia AG (XSWX:IMPN) is currently considered Significantly Overvalued. The stock's GF Value™ is CHF35.34, compared to a current price of CHF74.60 — trading 111.1% above its estimated fair value. The current Net Current Asset Value is CHF-23.19. Implenia AG's overall GF Score™ is 58/100 with 4 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 Implenia AG (XSWX:IMPN), the current Net Current Asset Value is CHF-23.19 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 Implenia AG (XSWX:IMPN) Overvalued in 2026?
Based on GuruFocus' analysis, Implenia AG stock appears to be overvalued.
The current stock price of CHF74.60 is trading 111.1% above its estimated GF Value™ of CHF35.34.
GuruFocus considers Implenia AG to be Significantly Overvalued.
Key valuation signals for XSWX:IMPN:
Net Current Asset Value: CHF-23.19
GF Value™: CHF35.34 vs. price of CHF74.60 (111.1% above fair value)
No single metric tells the full story. See the XSWX:IMPN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Implenia AG is a construction service company. The company operates through four business segments: Buildings, Civil engineering, and Service Solutions. The company's projects include complex new construction, modernization work on existing properties, tunnel construction, civil engineering, and others. The company generates majority of its revenue from Civil engineering segments, and more than half of its revenue is earned in Switzerland.
58GF Score
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