In their last quarter, coffee bean prices dropped 25%, sales dipped 5% and Coffee Holding Company (JVA) still turned a profit.I'm always looking for the next quality net-net and sub net tangible asset (NTAV) value stock. Lately, as has been the case over past months, there just aren't any brand new, good, liquid stock opportunities in the space. Cronos Group (CRON) remains one the better stocks around deep value territory at currently just 17% over NTAV.Here is a deep dive I did on Cronos a year ago. I’m going to do an update on Cronos Group soon as they just reported quarterly results. I've covered Coffee Holding Co. (JVA) for a long time now. Over the years, every now and then it slips under net tangible assets. I've always seen it as one of the obvious better deep value stocks when it does. They sell wholesale, private label and branded coffee. They have eight proprietary and licensed brand names. Management has proven to me that they can weather the inevitable coffee bean commodity price storms. When they deliver, they really do. They've done great the past couple years. They even paid out dividends again. The company doesn't do conference calls, but they are always candid in the reports and press releases. They have demonstrated a lot of durability over the years. The business isn't easy with low gross margins by default. That said, they have put the company in a very good long-term position.Q2 ResultsBalance Sheet UpdateThere is $25 mil in net tangible asset value. The stock is now 20% below NTAV after the last quarterly results sell-off. Earlier in the year, they modified the current loan agreement with Webster to come due in Dec 2026. They have been paying it down considerably, and the current balance is $2.65 mil. It's been modified many times over the years, so it wouldn't surprise me if it gets pushed again. They've had a relationship since 2009 when it was Sterling National Bank. Income Statement and Cash FlowSales were down 5% from a 25% reduction in green bean coffee prices. The good thing was national brands held pricing. They expect better margins going forward in their famous Cafe Caribe brand.Gross margin 15.8%Net income $0.05 per shareEven with the negatives and sales decline, they managed to pull through positive free cash flow of $35,000 for the quarter. They are looking to reduce inventory as a result of green coffee price declines. The good news is they said they are on-track to maintain full year 2026 net profitability. ValuationThe current market cap is $20 mil. NTAV is $25 mil. So, we are back below NTAV. At the current stock price of $3.50 a share, JVA trades at just a 14 P/E trailing twelve month (TTM). Three of the last four quarters were profitable. JVA is one of the better stocks currently in deep value land. Technical AnalysisThe stock remains between levels in a trading range (red lines). The floor this year has been right around $3.00. Full Disclosure: I am long JVA