Net Asset Valuation

Pleasehelpme

Hi,

Has anyone come across an investor website that provides the Net Asset Valuation per share of listed companies?

Any help would be appreciated.

Cheers.

Reaper

NAV is normally used for Investment Trusts. All the sites that give stats on them will also provide the NAVs.

If you are looking at shares then I suppose the equivalent is "Book Value", or Net Assets on the balance sheet which you should also be able to find fairly easily. Try Digital Look.

Pleasehelpme

Thanks for the reply but it isn't easy to find and that's why I was asking if anyone knew of any sites (Digital Look don't provide NAV per share).

JoeCrystal

Have a look at their half year reports/annual reports maybe? I am not entirely sure about working out Book Value but is it total assets minus total liabilities or total assets minus intangible assets and total liabilities. Divide them by number of shares to find the number.

I do not know any sites that provide them per share either...

Cheers

Joe

bigadaj

OP, why are you I treated in the nav?

Reaper

Pleasehelpme wrote: »

Thanks for the reply but it isn't easy to find and that's why I was asking if anyone knew of any sites (Digital Look don't provide NAV per share).

I just had a look and they do. Pick a share (I used Debenhams). Go to Financials, Fundamentals, Overview

In the table of figures near the bottom you will find:
"Net Asset Value per Share (exc. Intangibles)"

grey_gym_sock

for most kinds of company, NAV is very much a matter of accounting convention, so it would be a mistake to draw any conclusions from the figure without looking in more detail at the kind of assets and liabilities the company has.

investment trusts are an exception, at least if all their assets are shares which are quoted on stock exchanges, because the NAV is then (uncontroversially) based on the latest quoted price of the shares owned by the IT.

property companies are also an exception. valuing their properties is not an exact science, but is very relevant info.

trading companies are much harder to value, because they have intangible assets: the "goodwill" of the business, and sometimes patents, copyrights, trade marks, brands, the value of long-term contracts, etc. these are not easily valued, and can depend on the accounting policies the company adopts or its history. e.g. if it takes over another company, and pays more for it than the value of the other company's tangible assets, it may (or may not) put the extra amount paid on its balance sheet as an asset ("goodwill"). but if, instead of acquiring another company, it built up a similar business from scratch, then it would never put the goodwill on the balance sheet. so you have to look at the accounts to make any sense of a trading company's asset value.

grey_gym_sock

i should add that excluding intangibles doesn't give a a "clean" NAV value. many tangible assets are not easily valued. if the company's business starts to go downhill, very likely so will the value of the assets used in the business, so the asset value may provide no real protection to share holders.

OTOH, some companies have intangible assets of genuinely huge value, so if you exclude intangible assets, you will always think they are over-valued, which may not be the case.

Pleasehelpme

Thanks GGS but this is true of any financial statement value and doesn't hep in finding a website that has NAV per share.

bigadaj

Presumably looking for a fair valuation for Facebook shares then!

gadgetmind

grey_gym_sock wrote: »

i should add that excluding intangibles doesn't give a a "clean" NAV value. many tangible assets are not easily valued. if the company's business starts to go downhill

True, but physical book value at least means that you're looking at the value of assets you could walk up to and kick.

Having been involved in trying to value "good will", I can assure you that it's like trying to climb a rainbow.