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Step One ClothingASX:STP -3.23%30 Net Cash per Share is A$0.05 as of Dec. 2025, which is 100% below its 10-year median of 5.91. GuruFocus rates ASX:STP with a GF Score™ of 30/100 and a GF Value™ of A$0.64 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 135 Retail - Cyclical companies, Step One Clothing ranks better than 74.81% on this metric.
Step One Clothing (ASX:STP) Net Cash per Share Explanation
Ben Graham invested in situations where the company's stock price was lower than its net-cash. He assigned some value to the company's other current asset. The value is called Net Current Asset Value (NCAV). One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
You can find companies that are traded below their Net Current Asset Value (NCAV) with our Net-Net screener.
Step One Clothing Net Cash per Share Related Terms
Step One Clothing Net Cash per Share Historical Data
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The historical data trend for Step One Clothing's Net Cash per Share 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.
ASX:STP vs TJX, ROST, BURL: Net Cash per Share Comparison
For the Apparel Retail subindustry, Step One Clothing's Price-to-Net-Cash, along with its competitors' market caps and Price-to-Net-Cash 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.
Step One Clothing Price-to-Net-Cash vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Step One Clothing's Price-to-Net-Cash distribution charts can be found below:
* The bar in red indicates where Step One Clothing's Price-to-Net-Cash falls into.
In the calculation of a company's Net Cash per Share, assets other than cash and short term investments are considered to be worth nothing. But the company has to pay its debt and other liabilities in full. This is an extremely conservative way of valuation. Most companies have negative Net Cash per Share. But sometimes a company's price may be lower than its net-cash.
Step One Clothing's Net Cash per Share for the fiscal year that ended in Jun. 2025 is calculated as
* 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.
Step One Clothing (ASX:STP) has a Net Cash per Share of A$0.05 as of Dec. 2025. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Step One Clothing and its competitors. This is 99% below median its historical median of 5.91. Over the past decade, Step One Clothing's Net Cash per Share has ranged from 2.05 to 10.27. According to the industry distribution chart, Step One Clothing ranks #34 out of 135 companies in the Retail - Cyclical industry, placing it in the top 25.2%.
Is Step One Clothing's Net Cash per Share too high?
Step One Clothing's current Net Cash per Share of A$0.05 is 99% below median its 10-year median of 5.91. Over the past 10 years, this metric has ranged from a low of 2.05 to a high of 10.27. Based on the distribution chart, Step One Clothing ranks #34 out of 135 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Step One Clothing has a GF Score™ of 30/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Step One Clothing's Net Cash per Share compare to TJX and ROST?
According to the Retail - Cyclical industry distribution chart, Step One Clothing ranks #34 out of 135 companies for Net Cash per Share. This puts Step One Clothing in the upper half of its industry. The industry median Net Cash per Share is 6.88. Historically, Step One Clothing's own Net Cash per Share has ranged from 2.05 to 10.27 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Cash per Share for a Retail - Cyclical company?
The median Net Cash per Share among Retail - Cyclical companies is 6.88, based on 135 companies in the industry. Companies in the top quartile (top 25%) have a Net Cash per Share significantly above this median, while those in the bottom quartile fall well below. However, Net Cash per Share 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 Net Cash per Share mean?
A high Net Cash per Share can signal that a stock is expensive relative to its fundamentals. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Step One Clothing and its competitors. For the Retail - Cyclical industry, the median Net Cash per Share is 6.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Step One Clothing's current Net Cash per Share is A$0.05, which is 99% below median its own 10-year median of 5.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Step One Clothing stock overvalued right now?
Based on GuruFocus' analysis, Step One Clothing (ASX:STP) is currently considered Significantly Undervalued. The stock's GF Value™ is A$0.64, compared to a current price of A$0.15 — trading 76.6% below its estimated fair value. The current Net Cash per Share is A$0.05, which is 99% below median its 10-year median of 5.91. Step One Clothing's overall GF Score™ is 30/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Cash per Share calculated?
Net Cash per Share is calculated from a company's financial statements. For Step One Clothing (ASX:STP), the current Net Cash per Share is A$0.05 as of Dec. 2025. 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 Step One Clothing (ASX:STP) Overvalued in 2026?
Based on GuruFocus' analysis, Step One Clothing stock appears to be undervalued.
The current stock price of A$0.15 is trading 76.6% below its estimated GF Value™ of A$0.64.
GuruFocus considers Step One Clothing to be Significantly Undervalued.
Key valuation signals for ASX:STP:
Net Cash per Share: A$0.05 (99% below median its 10-year median of 5.91)
GF Value™: A$0.64 vs. price of A$0.15 (76.6% below fair value)
No single metric tells the full story. See the ASX:STP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Step One Clothing Ltd is a direct-to-consumer online retailer for men's undergarments. Its products comprise Boxer Brief, Trunks, and Boxer Breif+Fly. Its group is organized into three operating segments, being online retail sales for Australia, the United Kingdom, and the United States of America, however, these segments are aggregated into one reportable segment.
30GF Score
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