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).
Charter Hall Long WALE REIT's net current asset value per share for the quarter that ended in Dec. 2025 was A$-2.74.
The historical rank and industry rank for Charter Hall Long WALE REIT's Net Current Asset Value or its related term are showing as below:
ASX:CLW's Price-to-Net-Current-Asset-Value is not ranked *
in the REITs industry.
Industry Median: 7.97 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Charter Hall Long WALE REIT (ASX:CLW) 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.
Charter Hall Long WALE REIT Net Current Asset Value Related Terms
Charter Hall Long WALE REIT Net Current Asset Value 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.
Charter Hall Long WALE REIT Net Current Asset Value Chart
ASX:CLW vs VICI, WPC, BNL: Net Current Asset Value Comparison
For the REIT - Diversified subindustry, Charter Hall Long WALE REIT'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.
Charter Hall Long WALE REIT Price-to-Net-Current-Asset-Value vs REITs Industry
For the REITs industry and Real Estate sector, Charter Hall Long WALE REIT's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Charter Hall Long WALE REIT'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$-2.74 mean?
Charter Hall Long WALE REIT (ASX:CLW) has a Net Current Asset Value of A$-2.74 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Charter Hall Long WALE REIT and its competitors. According to the industry distribution chart, Charter Hall Long WALE REIT ranks #999999 out of 110 companies in the REITs industry.
Is Charter Hall Long WALE REIT's Net Current Asset Value too high?
Charter Hall Long WALE REIT's current Net Current Asset Value is A$-2.74. Based on the distribution chart, Charter Hall Long WALE REIT ranks #999999 out of 110 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Charter Hall Long WALE REIT has a GF Score™ of 73/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Charter Hall Long WALE REIT's Net Current Asset Value compare to VICI and WPC?
According to the REITs industry distribution chart, Charter Hall Long WALE REIT ranks #999999 out of 110 companies for Net Current Asset Value. This places Charter Hall Long WALE REIT in the lower half of its industry. The industry median Net Current Asset Value is 7.97. 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 a REITs company?
The median Net Current Asset Value among REITs companies is 7.97, based on 110 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 Charter Hall Long WALE REIT and its competitors. For the REITs industry, the median Net Current Asset Value is 7.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Charter Hall Long WALE REIT's current Net Current Asset Value is A$-2.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Charter Hall Long WALE REIT stock overvalued right now?
Based on GuruFocus' analysis, Charter Hall Long WALE REIT (ASX:CLW) is currently considered Possible Value Trap. The stock's GF Value™ is A$6.14, compared to a current price of A$3.62 — trading 41% below its estimated fair value. The current Net Current Asset Value is A$-2.74. Charter Hall Long WALE REIT's overall GF Score™ is 73/100 with 8 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 Charter Hall Long WALE REIT (ASX:CLW), the current Net Current Asset Value is A$-2.74 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 Charter Hall Long WALE REIT (ASX:CLW) Overvalued in 2026?
Based on GuruFocus' analysis, Charter Hall Long WALE REIT stock appears to be undervalued.
The current stock price of A$3.62 is trading 41% below its estimated GF Value™ of A$6.14.
GuruFocus considers Charter Hall Long WALE REIT to be Possible Value Trap.
Key valuation signals for ASX:CLW:
Net Current Asset Value: A$-2.74
GF Value™: A$6.14 vs. price of A$3.62 (41% below fair value)
No single metric tells the full story. See the ASX:CLW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Charter Hall Long WALE REIT is a listed investment vehicle established and managed by Charter Hall Group. The REIT pays management fees to the parent group. There are over 500 properties on balance sheet and in joint ventures, spanning retail, industrial, office, data centers and social infrastructure. The portfolio typically has near full occupancy and long weighted average lease expiry, or WALE, of around 10 years. About half the leases are subject to annual inflation-linked rental uplifts, and half to fixed annual increases (typically 3%). One third of the REIT's income is rents collected from the properties held on its own balance sheet and the rest is co-investment earnings from a dozen joint ventures.
73GF Score
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