Net current asset value per share is a metric used to find undervalued stocks. NCAVPS is calculated by taking a company's current assets and subtracting total liabilities.
(Total current assets - Total liabilities - Preferred stock) / Common shares outstanding
It is assumed that the investor will find a bargain if they buy stocks where the price is not more than 67% of Net current asset value per share. NCAVPS is mostly used by value investors to find companies that have an attractive valuation.