ChallengerASX:CGF -0.88%58 Net Current Asset Value is A$-13.17 as of Dec. 2025. GuruFocus rates ASX:CGF with a GF Score™ of 58/100 and a GF Value™ of A$4.00 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 25 Insurance companies, Challenger ranks worse than 3999996% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Challenger's net current asset value per share for the quarter that ended in Dec. 2025 was A$-13.17.
The historical rank and industry rank for Challenger'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 Challenger was 2.87. The lowest was 2.11. And the median was 2.46.
ASX:CGF's Price-to-Net-Current-Asset-Value is not ranked *
in the Insurance industry.
Industry Median: 6.5 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Challenger (ASX:CGF) 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.
Challenger Net Current Asset Value Related Terms
Challenger Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Challenger'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:CGF vs AFL, MET, PRU: Net Current Asset Value Comparison
For the Insurance - Life subindustry, Challenger'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.
Challenger Price-to-Net-Current-Asset-Value vs Insurance Industry
For the Insurance industry and Financial Services sector, Challenger's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Challenger'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$-13.17 mean?
Challenger (ASX:CGF) has a Net Current Asset Value of A$-13.17 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 Challenger and its competitors. Over the past decade, Challenger's Net Current Asset Value has ranged from 2.11 to 2.87. According to the industry distribution chart, Challenger ranks #999999 out of 25 companies in the Insurance industry.
Is Challenger's Net Current Asset Value too high?
Challenger's current Net Current Asset Value is A$-13.17. Over the past 10 years, this metric has ranged from a low of 2.11 to a high of 2.87. Based on the distribution chart, Challenger ranks #999999 out of 25 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Challenger has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Challenger's Net Current Asset Value compare to AFL and MET?
According to the Insurance industry distribution chart, Challenger ranks #999999 out of 25 companies for Net Current Asset Value. This places Challenger in the lower half of its industry. The industry median Net Current Asset Value is 6.50. Historically, Challenger's own Net Current Asset Value has ranged from 2.11 to 2.87 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 Insurance company?
The median Net Current Asset Value among Insurance companies is 6.50, based on 25 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 Challenger and its competitors. For the Insurance industry, the median Net Current Asset Value is 6.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Challenger's current Net Current Asset Value is A$-13.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Challenger stock overvalued right now?
Based on GuruFocus' analysis, Challenger (ASX:CGF) is currently considered Significantly Overvalued. The stock's GF Value™ is A$4.00, compared to a current price of A$10.17 — trading 154.3% above its estimated fair value. The current Net Current Asset Value is A$-13.17. Challenger's overall GF Score™ is 58/100 with 9 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 Challenger (ASX:CGF), the current Net Current Asset Value is A$-13.17 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 Challenger (ASX:CGF) Overvalued in 2026?
Based on GuruFocus' analysis, Challenger stock appears to be overvalued.
The current stock price of A$10.17 is trading 154.3% above its estimated GF Value™ of A$4.00.
GuruFocus considers Challenger to be Significantly Overvalued.
Key valuation signals for ASX:CGF:
Net Current Asset Value: A$-13.17
GF Value™: A$4.00 vs. price of A$10.17 (154.3% above fair value)
No single metric tells the full story. See the ASX:CGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Challenger's core business is selling annuity products in the Australian retirement market and, since November 2016, selling Australian dollar-denominated annuities into Japan's large retirement market. The firm's annuity products provide investors guaranteed regular payments over an agreed term for an upfront lump sum investment and is designed primarily to protect investors from the longevity risk of outliving their savings. Challenger also operates a funds management business, Fidante Partners, which has minority stakes in several boutique global investment managers, and Challenger Investment Management, which primarily manages investments supporting its annuities business.
58GF Score
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