NCL (Northann) Construction In Progress: $2.36 Mil (As of Mar. 2026)


NCL Northann Corp NCL
17 GF Score
Price $0.16
GF Value $0.54
Valuation Possible Value Trap
! 6 Warning Signs
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What is Northann Construction In Progress?

Northann NCL -4.16% 17 Construction In Progress is $2.36 Mil as of Mar. 2026. GuruFocus rates NCL with a GF Score™ of 17/100 and a GF Value™ of $0.54 (Possible Value Trap). The stock has 6 warning signs investors should review.

Northann's quarterly construction in progress declined from Sep. 2025 ($2.23 Mil) to Dec. 2025 ($2.13 Mil) but then increased from Dec. 2025 ($2.13 Mil) to Mar. 2026 ($2.36 Mil).

Northann's annual construction in progress increased from Dec. 2023 ($0.96 Mil) to Dec. 2024 ($1.26 Mil) and increased from Dec. 2024 ($1.26 Mil) to Dec. 2025 ($2.13 Mil).

Northann Construction In Progress Historical Data

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The historical data trend for Northann's Construction In Progress 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.

Northann Construction In Progress Chart

Northann Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Construction In Progress
Get a 7-Day Free Trial 0.38 0.97 0.96 1.26 2.13

Northann Quarterly Data
Dec20 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Construction In Progress Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.41 2.06 2.23 2.13 2.36
NCL
17GF Score
Northann Corp NCL
Construction In Progress is just one metric. See GF Score™, valuation, warning signs, and more.
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Northann Construction In Progress Calculation

It records the cost of construction work, which is not yet completed (typically, applied to capital budget items). A construction in progress item is not depreciated until the asset is placed in service. Normally, upon completion, a construction in progress item is reclassified, and the reclassified asset is capitalized and depreciated.

What does a Construction In Progress of $2.36 Mil mean?
Northann (NCL) has a Construction In Progress of $2.36 Mil as of Mar. 2026. Construction in Progress records the amount of construction work that is not complete. View historical data on Northann and its competitors.
Is Northann's Construction In Progress too high?
Northann's current Construction In Progress is $2.36 Mil. Overall, Northann has a GF Score™ of 17/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Northann's Construction In Progress compare to SNTW and ATER?
Northann's Construction In Progress of $2.36 Mil can be compared against companies in the Furnishings, Fixtures & Appliances industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Construction In Progress for a Furnishings, Fixtures & Appliances company?
A good Construction In Progress depends on the Furnishings, Fixtures & Appliances industry context. However, Construction In Progress should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Construction In Progress mean?
A high Construction In Progress can signal that a stock is expensive relative to its fundamentals. Construction in Progress records the amount of construction work that is not complete. View historical data on Northann and its competitors. Northann's current Construction In Progress is $2.36 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northann stock overvalued right now?
Based on GuruFocus' analysis, Northann (NCL) is currently considered Possible Value Trap. The stock's GF Value™ is $0.54, compared to a current price of $0.16 — trading 70.6% below its estimated fair value. The current Construction In Progress is $2.36 Mil. Northann's overall GF Score™ is 17/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Construction In Progress calculated?
Construction In Progress is calculated from a company's financial statements. For Northann (NCL), the current Construction In Progress is $2.36 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Northann (NCL) Overvalued in 2026?

Based on GuruFocus' analysis, Northann stock appears to be undervalued. The current stock price of $0.16 is trading 70.6% below its estimated GF Value™ of $0.54. GuruFocus considers Northann to be Possible Value Trap.

Key valuation signals for NCL:

  • Construction In Progress: $2.36 Mil
  • GF Value™: $0.54 vs. price of $0.16 (70.6% below fair value)
  • GF Score™: 17/100 with 6 warning signs

No single metric tells the full story. See the NCL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Northann Business Description

Address 2251 Catawba River Road, Fort Lawn, SC, USA, 29714
Northann Corp specialized in 3D-printed flooring solutions under its flagship brand, Benchwick. The company's operations span the full spectrum of additive manufacturing, from sourcing recycled ocean plastics to the final production of intricate flooring designs. It offers an extensive range of proprietary solutions, including Infinite Glass, DSE, TruBevel, and MattMaster, mainly through its sales network in North America and Europe.
17GF Score

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Construction In Progress is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$0.16
Price
$0.54
GF Value