AustalASX:ASB -2.68%73 Net Current Asset Value is A$-0.74 as of Dec. 2025. GuruFocus rates ASX:ASB with a GF Score™ of 73/100 and a GF Value™ of A$3.10 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 197 Aerospace & Defense companies, Austal ranks worse than 507613.71% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Austal's net current asset value per share for the quarter that ended in Dec. 2025 was A$-0.74.
The historical rank and industry rank for Austal's Net Current Asset Value or its related term are showing as below:
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Austal was 102.50. The lowest was 14.68. And the median was 54.60.
ASX:ASB's Price-to-Net-Current-Asset-Value is not ranked *
in the Aerospace & Defense industry.
Industry Median: 8.07 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Austal (ASX:ASB) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
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 Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Austal Net Current Asset Value Related Terms
Austal Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Austal's Net Current Asset Value 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:ASB vs SPCX, GE, RTX: Net Current Asset Value Comparison
For the Aerospace & Defense subindustry, Austal's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value 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.
Austal Price-to-Net-Current-Asset-Value vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Austal's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Austal's Price-to-Net-Current-Asset-Value falls into.
* 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.
What does a Net Current Asset Value of A$-0.74 mean?
Austal (ASX:ASB) has a Net Current Asset Value of A$-0.74 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Austal and its competitors. Over the past decade, Austal's Net Current Asset Value has ranged from 14.68 to 102.50. According to the industry distribution chart, Austal ranks #999999 out of 197 companies in the Aerospace & Defense industry.
Is Austal's Net Current Asset Value too high?
Austal's current Net Current Asset Value is A$-0.74. Over the past 10 years, this metric has ranged from a low of 14.68 to a high of 102.50. Based on the distribution chart, Austal ranks #999999 out of 197 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Austal has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Austal's Net Current Asset Value compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Austal ranks #999999 out of 197 companies for Net Current Asset Value. This places Austal in the lower half of its industry. The industry median Net Current Asset Value is 8.07. Historically, Austal's own Net Current Asset Value has ranged from 14.68 to 102.50 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 Current Asset Value for an Aerospace & Defense company?
The median Net Current Asset Value among Aerospace & Defense companies is 8.07, based on 197 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value 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 Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Austal and its competitors. For the Aerospace & Defense industry, the median Net Current Asset Value is 8.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Austal's current Net Current Asset Value is A$-0.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Austal stock overvalued right now?
Based on GuruFocus' analysis, Austal (ASX:ASB) is currently considered Modestly Overvalued. The stock's GF Value™ is A$3.10, compared to a current price of A$4.00 — trading 29% above its estimated fair value. The current Net Current Asset Value is A$-0.74. Austal's overall GF Score™ is 73/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Austal (ASX:ASB), the current Net Current Asset Value is A$-0.74 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 Austal (ASX:ASB) Overvalued in 2026?
Based on GuruFocus' analysis, Austal stock appears to be overvalued.
The current stock price of A$4.00 is trading 29% above its estimated GF Value™ of A$3.10.
GuruFocus considers Austal to be Modestly Overvalued.
Key valuation signals for ASX:ASB:
Net Current Asset Value: A$-0.74
GF Value™: A$3.10 vs. price of A$4.00 (29% above fair value)
No single metric tells the full story. See the ASX:ASB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Austal Ltd is engaged in designing, constructing, and supporting revolutionary defense and commercial vessels. The company designs, constructs, and supports passenger ferries, vehicle passenger ferries, and offshore and windfarm vessels; naval vessels; naval surface warfare combatants; and patrol boats for government law enforcement and border protection agencies. Its reportable segments are USA Shipbuilding; USA Support; Australasia Shipbuilding and Australasia Support. Maximum revenue is generated from its USA Shipbuilding segment which manufactures high performance defence vessels for U.S. Navy and Coast Guard. Geographically, the company derives a majority of its revenue from the United States of America and the rest from Australia, Europe, Asia, South America, and the Middle East.
73GF Score
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