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The historical rank and industry rank for Steel Partners Holdings LP's Net Cash per Share or its related term are showing as below:
SPLP's Price-to-Net-Cash is not ranked *
in the Conglomerates industry.
Industry Median: 8.85 * Ranked among companies with meaningful Price-to-Net-Cash only.
Steel Partners Holdings LP (OTCPK:SPLP) 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.
Steel Partners Holdings LP Net Cash per Share Related Terms
Steel Partners Holdings LP Net Cash per Share Historical Data
* 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.
Steel Partners Holdings LP Net Cash per Share Chart
SPLP vs MATW, DLX, FIP: Net Cash per Share Comparison
For the Conglomerates subindustry, Steel Partners Holdings LP'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.
Steel Partners Holdings LP Price-to-Net-Cash vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Steel Partners Holdings LP's Price-to-Net-Cash distribution charts can be found below:
* The bar in red indicates where Steel Partners Holdings LP's Price-to-Net-Cash falls into.
Steel Partners Holdings LP Net Cash per Share Calculation
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.
Steel Partners Holdings LP's Net Cash per Share for the fiscal year that ended in Dec. 2024 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.
Steel Partners Holdings LP (SPLP) has a Net Cash per Share of $-108.72 as of Sep. 2025. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Steel Partners Holdings LP and its competitors.
Is Steel Partners Holdings LP's Net Cash per Share too high?
Steel Partners Holdings LP's current Net Cash per Share is $-108.72. Overall, Steel Partners Holdings LP has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does Steel Partners Holdings LP's Net Cash per Share compare to MATW and DLX?
Steel Partners Holdings LP's Net Cash per Share of $-108.72 can be compared against companies in the Conglomerates industry. The industry median Net Cash per Share is 8.85. 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 Conglomerates company?
The median Net Cash per Share among Conglomerates companies is 8.85, based on 65 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 Steel Partners Holdings LP and its competitors. For the Conglomerates industry, the median Net Cash per Share is 8.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steel Partners Holdings LP's current Net Cash per Share is $-108.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Steel Partners Holdings LP stock overvalued right now?
Steel Partners Holdings LP (SPLP) has a current Net Cash per Share of $-108.72. The stock's GF Value™ is $51.26, compared to a current price of $50.00 — trading 2.5% below its estimated fair value. The current Net Cash per Share is $-108.72. Steel Partners Holdings LP's overall GF Score™ is 66/100 with 5 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 Steel Partners Holdings LP (SPLP), the current Net Cash per Share is $-108.72 as of Sep. 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 Steel Partners Holdings LP (SPLP) Overvalued in 2026?
Based on GuruFocus' analysis, Steel Partners Holdings LP stock appears to be undervalued.
The current stock price of $50.00 is trading 2.5% below its estimated GF Value™ of $51.26.
Key valuation signals for SPLP:
Net Cash per Share: $-108.72
GF Value™: $51.26 vs. price of $50.00 (2.5% below fair value)
No single metric tells the full story. See the SPLP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Steel Partners Holdings LP operates in industrial products, energy, defense, supply chain management and logistics, banking, and youth sports industries. Its segments include the Diversified Industrial segment comprised of manufacturers of engineered niche industrial products, joining materials, tubing, building materials, performance materials etc; the Energy segment provides drilling and production services to the oil and gas industry and owns a youth sports business; the Financial Services segment consists of the operations of WebBank, a Utah chartered industrial bank, which engages in full range of banking activities; The Supply Chain segment consists of end-to-end world-wide supply; and Corporate and Other consists of equity method and other investments, and cash and cash equivalents.
66GF Score
Get the complete analysis for SPLP
Net Cash per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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