Net Current Assets Value (NCAV) = (Current assets (cash, inventories and accounts receivable) – All Liabilities) / Market value.
All Liabilities = (Total Assets - Common Shareholders Equity).
As you can see it is not a value but a ratio, and the higher its value (NCAV is greater than market value) the more undervalued the company is.
Use it to find net-net investment ideas
You can use this ratio to find net-net investment ideas as defined by Benjamin Graham.
The following articles show you exactly how:
How to use the ratio
Available as a screening ratio: Yes
Available as an output column ratio: Yes (Look for it under the Valuation heading)
How to select the most undervalued companies
To find undervalued companies with the highest Net Current Asset Value / MV set the slider from 0% to 10%.