Volcano (FRA:VQY) Net Current Asset Value : €-2.97 (As of Sep. 2014)

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What is Volcano Net Current Asset Value?

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).

Volcano's net current asset value per share for the quarter that ended in Sep. 2014 was €-2.97.

The historical rank and industry rank for Volcano's Net Current Asset Value or its related term are showing as below:

FRA:VQY's Price-to-Net-Current-Asset-Value is not ranked ^*
in the Medical Devices & Instruments industry.
Industry Median: 4.92
* Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.

Volcano Net Current Asset Value Historical Data

The historical data trend for Volcano'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.

* Premium members only.

Volcano Net Current Asset Value Chart

Volcano Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Net Current Asset Value

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2.20

2.38

2.68

1.80

-0.31

Volcano Quarterly Data
	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14
Net Current Asset Value	Get a 7-Day Free Trial															0.85	-0.31	-0.22	-2.64	-2.97

Competitive Comparison of Volcano's Net Current Asset Value

For the Medical Devices subindustry, Volcano'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.

Volcano's Price-to-Net-Current-Asset-Value Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Volcano's Price-to-Net-Current-Asset-Value distribution charts can be found below:

* The bar in red indicates where Volcano's Price-to-Net-Current-Asset-Value falls into.

Volcano Net Current Asset Value Calculation

Volcano's Net Current Asset Value (NCAV) per share for the fiscal year that ended in Dec. 2013 is calculated as

	Net Current Asset Value Per Share		(A: Dec. 2013 )
=	(Total Current Assets	-	Total Liabilities	-	Minority Interest	-	Preferred Stock)	/	Shares Outstanding (EOP)
=	(371.755	-	388.446	-	0	-	0)	/	54.341
=	-0.31

Volcano's Net Current Asset Value (NCAV) per share for the quarter that ended in Sep. 2014 is calculated as

	Net Current Asset Value Per Share		(Q: Sep. 2014 )
=	(Total Current Assets	-	Total Liabilities	-	Minority Interest	-	Preferred Stock)	/	Shares Outstanding (EOP)
=	(281.25	-	434.387	-	0	-	0)	/	51.6035
=	-2.97

Volcano (FRA:VQY) 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.

Volcano Net Current Asset Value Related Terms

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Volcano (FRA:VQY) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Volcano Corp (FRA:VQY) » Definitions » Net Current Asset Value

Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.volcanocorp.com

Volcano Corp incorporated in the state of Delaware in January 2000. The Company completed its initial public offering on June 15, 2006. The Company designs, develops, manufactures and commercializes a broad suite of precision guided therapy tools including intravascular ultrasound, or IVUS, and fractional flow reserve, or FFR, products. The IVUS products include single-procedure disposable phased array and rotational IVUS imaging catheters, and additional functionality options such as ChromaFlo stent apposition analysis. FFR offerings can be accessed through its multi-modality platforms, and it also provide FFR-only consoles. Its products include: IVUS Products, Catheters, its single-use disposable catheters operate and interface solely with its family of consoles. Catheters, its single-use disposable catheters operate and interface solely with its family of consoles. ChromaFlo stent apposition analysis technology uses sequential IVUS frames to differentiate circulating blood from stationary or anchored tissue. SyncVision, Sync-Rx Ltd, or Sync-Rx, an Israel-based company that develops advanced software applications designed to optimize and facilitate trans-catheter cardiovascular interventions using automated online image processing. FFR products consist of pressure and flow consoles and single-procedure disposable pressure and flow guide wires. The Company's primary imaging competitors globally are Boston Scientific, Inc., or Boston Scientific, with its IVUS offering and St. Jude Medical, Inc., or St. Jude with its OCT offering. In Japan, it also competes with Terumo Corporation, which offers both IVUS and OCT. In the FFR market, its primary competitor is St. Jude. Because of the size of the vascular market opportunities, competitors and potential competitors have dedicated and will continue to dedicate significant resources to aggressively promote their products. It has registered and common law trademarks in the U.S. and elsewhere in the world including, but not limited to, Aim, Axsun, Bi-Trieval, Centriq, ChromaFlo, ComboMap, ComboWire, Core, Crux, Crux Biomedical, Define, Eagle Eye, ETNA, FACT, FloMap, FloWire, Ginko, GlyDx, Hi-Q, iFR, In-Line Digital, Instant Wave-Free Ratio, Intentio, Octave, pcFM, Precision Guided Therapy, PreView, PrimeWire, PrimeWire Prestige, ReFlow, Revolution, SlyDx, s5i, SmartMap, SpinVision, Sync-Rx, Trak Back, Valet, Verrata, VH, VIBE, Virtual Histology, Visions, Volcano, Wavewire, Xtract and Zuum. The Company's medical device products are subject to extensive and rigorous regulation by the FDA, as well as other federal and state regulatory bodies in the U.S. and comparable authorities in other countries.

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