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Asset PlusNZSE:APL -1.76%43 EV-to-FCF is 34.33 as of Jul. 14, 2026, which is 55% above its 10-year median of 22.09. GuruFocus rates NZSE:APL with a GF Score™ of 43/100 and a GF Value™ of NZ$0.23 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 739 REITs companies, Asset Plus ranks worse than 69.96% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Asset Plus's Enterprise Value is NZ$105.76 Mil.
Asset Plus's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was NZ$3.08 Mil. Therefore, Asset Plus's EV-to-FCF for today is 34.33.
The historical rank and industry rank for Asset Plus's EV-to-FCF or its related term are showing as below:
NZSE:APL'
s EV-to-FCF Range Over the Past 10 Years
Min: -542.39 Med: 22.09 Max: 349.19
Current: 34.33
During the past 13 years, the highest EV-to-FCF of Asset Plus was 349.19. The lowest was -542.39. And the median was 22.09.
NZSE:APL's EV-to-FCF is ranked worse than 69.96% of 739
companies
in the REITs industry
Industry Median: 23.16
vs NZSE:APL: 34.33
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Asset Plus's share price for today is NZ$0.167.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Asset Plus's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was NZ$-0.009.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Asset Plus EV-to-FCF Related Terms
Asset Plus EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Asset Plus's EV-to-FCF 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.
For the REIT - Diversified subindustry, Asset Plus's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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.
Asset Plus EV-to-FCF vs REITs Industry
For the REITs industry and Real Estate sector, Asset Plus's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Asset Plus's EV-to-FCF falls into.
Asset Plus's current Enterprise Value is NZ$105.76 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Asset Plus's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was NZ$3.08 Mil.
* 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.
Asset Plus (NZSE:APL) has a EV-to-FCF of 34.33 as of Jul. 14, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Asset Plus and its competitors. This is 55% above median its historical median of 22.09. According to the industry distribution chart, Asset Plus ranks #517 out of 739 companies in the REITs industry, placing it in the top 70%.
Is Asset Plus' EV-to-FCF too high?
Asset Plus' current EV-to-FCF of 34.33 is 55% above median its 10-year median of 22.09. The REITs industry median EV-to-FCF is 23.16. Asset Plus' value of 34.33 is 48.2% above this industry median. Based on the distribution chart, Asset Plus ranks #517 out of 739 companies in the REITs industry, which is below the industry midpoint. Overall, Asset Plus has a GF Score™ of 43/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Asset Plus' EV-to-FCF compare to VICI and WPC?
According to the REITs industry distribution chart, Asset Plus ranks #517 out of 739 companies for EV-to-FCF. This places Asset Plus in the lower half of its industry. The industry median EV-to-FCF is 23.16. Asset Plus' value of 34.33 is 48.2% above this benchmark. While the company's 10-year median is 22.09 vs. the industry median of 23.16, Asset Plus has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a REITs company?
The median EV-to-FCF among REITs companies is 23.16, based on 739 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Asset Plus's current EV-to-FCF of 34.33 is 48.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Asset Plus and its competitors. For the REITs industry, the median EV-to-FCF is 23.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asset Plus's current EV-to-FCF is 34.33, which is 55% above median its own 10-year median of 22.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asset Plus stock overvalued right now?
Based on GuruFocus' analysis, Asset Plus (NZSE:APL) is currently considered Modestly Undervalued. The stock's GF Value™ is NZ$0.23, compared to a current price of NZ$0.17 — trading 27.4% below its estimated fair value. The current EV-to-FCF is 34.33, which is 55% above median its 10-year median of 22.09 and 48.2% above the REITs industry median of 23.16. Asset Plus' overall GF Score™ is 43/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Asset Plus (NZSE:APL), the current EV-to-FCF is 34.33 as of Jul. 14, 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 Asset Plus (NZSE:APL) Overvalued in 2026?
Based on GuruFocus' analysis, Asset Plus stock appears to be undervalued.
The current stock price of NZ$0.17 is trading 27.4% below its estimated GF Value™ of NZ$0.23.
GuruFocus considers Asset Plus to be Modestly Undervalued.
Key valuation signals for NZSE:APL:
EV-to-FCF: 34.33 (55% above median its 10-year median of 22.09)
GF Value™: NZ$0.23 vs. price of NZ$0.17 (27.4% below fair value)
Industry Position: 48.2% above the REITs median (#517 of 739)
No single metric tells the full story. See the NZSE:APL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asset Plus Ltd is a commercial property investment company. Its principal activities include investing in commercial property in New Zealand. The company's investment portfolio consists of office properties in New Zealand including the Munroe Lane property, and the 35 Graham Street property which is currently held for sale.
43GF Score
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