{
  "id": "nav",
  "version": "4ad551e84d1f",
  "status": "published",
  "name": "NAV Calculator",
  "question": "What is the NAV per share?",
  "summary": "Computes the net asset value (NAV) of a fund and its NAV per share from total assets, total liabilities and shares outstanding, with the premium or discount of a market price.",
  "category": "finance",
  "subcategory": "investing",
  "url": "https://www.acalculator.org/finance/nav-calculator",
  "markdown": "https://www.acalculator.org/finance/nav-calculator.md",
  "kind": "function",
  "method": "NAV = total assets − total liabilities; NAV per share = NAV ÷ shares outstanding; premium or discount = (market price − NAV per share) ÷ NAV per share × 100.",
  "assumptions": [
    "Assets are at their current market value (fair value where there is no market price), as funds value them.",
    "Liabilities include fees and expenses the fund has accrued but not yet paid.",
    "Arithmetic is exact on the typed decimals; money rounds once to the cent and percents to 2 decimals, halves up."
  ],
  "inputs": {
    "$schema": "https://json-schema.org/draft/2020-12/schema",
    "type": "object",
    "properties": {
      "assets": {
        "title": "Total assets",
        "description": "The value of everything the fund owns: its securities at market value, cash and other assets.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 1000000000000000
      },
      "liabilities": {
        "title": "Total liabilities",
        "description": "What the fund owes: accrued fees and expenses, amounts payable and any borrowing.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 1000000000000000
      },
      "shares": {
        "title": "Shares outstanding",
        "description": "How many shares of the fund investors hold. Fractions of a share count.",
        "type": "number",
        "exclusiveMinimum": 0,
        "maximum": 1000000000000000
      },
      "price": {
        "title": "Market price per share (optional)",
        "description": "For an ETF or a closed-end fund, the price a share trades at, to compare with the NAV per share.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 1000000000000000
      }
    }
  },
  "outputs": {
    "navPerShare": {
      "label": "NAV per share",
      "description": "Net asset value ÷ shares outstanding, to the cent.",
      "format": "money"
    },
    "nav": {
      "label": "Net asset value (NAV)",
      "description": "Total assets minus total liabilities.",
      "format": "money"
    },
    "premium": {
      "label": "Premium (+) or discount (−) to NAV",
      "description": "(Market price − NAV per share) ÷ NAV per share × 100. Negative for a discount.",
      "format": "percent"
    }
  },
  "defaultAnswer": {
    "inputs": {
      "assets": 100000000,
      "liabilities": 10000000,
      "shares": 9000000
    },
    "outputs": {
      "navPerShare": 10,
      "nav": 90000000
    },
    "text": "With $90,000,000.00 of net assets over 9,000,000 shares, the NAV per share is $10.00."
  },
  "examples": [
    {
      "given": {
        "assets": 100000000,
        "liabilities": 10000000,
        "shares": 10000000
      },
      "expect": {
        "nav": 90000000,
        "navPerShare": 9
      },
      "source": "U.S. Securities and Exchange Commission, Investor.gov glossary, \"Net Asset Value\" (NAV = total assets − total liabilities; $100 million of assets and $10 million of liabilities give a $90 million NAV; a $100 million NAV over 10,000,000 shares is $10 a share). https://www.investor.gov/introduction-investing/investing-basics/glossary/net-asset-value; hand calculation in content.mdx: (100,000,000 − 10,000,000) ÷ 10,000,000 = 9"
    },
    {
      "given": {
        "assets": 100000000,
        "liabilities": 0,
        "shares": 10000000
      },
      "expect": {
        "nav": 100000000,
        "navPerShare": 10
      },
      "source": "U.S. Securities and Exchange Commission, Investor.gov glossary, \"Net Asset Value\" (NAV = total assets − total liabilities; $100 million of assets and $10 million of liabilities give a $90 million NAV; a $100 million NAV over 10,000,000 shares is $10 a share). https://www.investor.gov/introduction-investing/investing-basics/glossary/net-asset-value: $10 a share"
    },
    {
      "given": {
        "assets": 51250000,
        "liabilities": 1250000,
        "shares": 2000000,
        "price": 24.5
      },
      "expect": {
        "nav": 50000000,
        "navPerShare": 25,
        "premium": -2
      },
      "source": "17 CFR 270.6c-11(a)(1), \"Premium or discount\": the market price minus the NAV per share, as a percentage of the NAV per share. https://www.law.cornell.edu/cfr/text/17/270.6c-11; hand calculation in content.mdx: (24.50 − 25) ÷ 25 × 100 = −2"
    },
    {
      "given": {
        "assets": 40500,
        "liabilities": 0,
        "shares": 4000,
        "price": 10.53
      },
      "expect": {
        "navPerShare": 10.125,
        "premium": 4
      },
      "source": "U.S. Securities and Exchange Commission, Investor.gov glossary, \"Net Asset Value\" (NAV = total assets − total liabilities; $100 million of assets and $10 million of liabilities give a $90 million NAV; a $100 million NAV over 10,000,000 shares is $10 a share). https://www.investor.gov/introduction-investing/investing-basics/glossary/net-asset-value; 17 CFR 270.6c-11(a)(1), \"Premium or discount\": the market price minus the NAV per share, as a percentage of the NAV per share. https://www.law.cornell.edu/cfr/text/17/270.6c-11; hand calculation in content.mdx: 40,500 ÷ 4,000 = 10.125 (shown as $10.13); (10.53 − 10.125) ÷ 10.125 × 100 = 4"
    }
  ],
  "sources": [
    "U.S. Securities and Exchange Commission, Investor.gov glossary, \"Net Asset Value\": NAV is total assets minus total liabilities, per share NAV is NAV divided by shares outstanding, and mutual funds and UITs generally must calculate NAV at least once every business day. https://www.investor.gov/introduction-investing/investing-basics/glossary/net-asset-value (retrieved 2026-10-18, read in a browser)",
    "FINRA, \"Mutual Funds\": a fund adds up the value of its holdings, subtracts its fees and expenses and divides by the shares investors hold, once a day after the markets close. https://www.finra.org/investors/investing/investment-products/mutual-funds (retrieved 2026-10-18)",
    "17 CFR 270.6c-11(a)(1), Exchange-traded funds, definition of \"premium or discount\": the market price minus the current NAV per share, as a percentage of the NAV per share. https://www.law.cornell.edu/cfr/text/17/270.6c-11 (retrieved 2026-10-18)"
  ],
  "related": [
    "mutual-fund",
    "expense-ratio",
    "index-fund",
    "dividend-yield"
  ],
  "changelog": []
}