Net Current Asset Value (NCAV)
NCAV is current assets minus total liabilities, the core net-net metric.
Published: 2025-12-20
Definition
Net Current Asset Value (NCAV) = Current Assets − Total Liabilities.
Why it matters
NCAV is the baseline metric for net-net investing; price below NCAV suggests asset backing.
Where to apply it
Use NCAV in screens and sanity-check with cash quality and dilution trends.