BrightSpire CapitalBRSP -0.74%68 Net Current Asset Value is $1.28 as of Mar. 2026, which is 57% below its 10-year median of 3.01. GuruFocus rates BRSP with a GF Score™ of 68/100 and a GF Value™ of $5.47 (Fairly Valued). The stock has 7 warning signs investors should review. Among 109 REITs companies, BrightSpire Capital ranks better than 61.47% 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).
BrightSpire Capital's net current asset value per share for the quarter that ended in Mar. 2026 was $1.28.
The historical rank and industry rank for BrightSpire Capital's Net Current Asset Value or its related term are showing as below:
BRSP'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.38 Med: 3.01 Max: 32.73
Current: 4.16
During the past 10 years, the highest Price-to-Net-Current-Asset-Value Ratio of BrightSpire Capital was 32.73. The lowest was 1.38. And the median was 3.01.
BRSP's Price-to-Net-Current-Asset-Value is ranked better than 61.47% of 109
companies
in the REITs industry
Industry Median: 7.72
vs BRSP: 4.16
BrightSpire Capital (NYSE:BRSP) 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.
BrightSpire Capital Net Current Asset Value Related Terms
BrightSpire Capital Net Current Asset Value Historical Data
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The historical data trend for BrightSpire Capital'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.
BRSP vs IVR, TRTX, FBRT: Net Current Asset Value Comparison
For the REIT - Mortgage subindustry, BrightSpire Capital'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.
BrightSpire Capital Price-to-Net-Current-Asset-Value vs REITs Industry
For the REITs industry and Real Estate sector, BrightSpire Capital's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where BrightSpire Capital'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 $1.28 mean?
BrightSpire Capital (BRSP) has a Net Current Asset Value of $1.28 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on BrightSpire Capital and its competitors. This is 57% below median its historical median of 3.01. Over the past decade, BrightSpire Capital's Net Current Asset Value has ranged from 1.38 to 32.73. According to the industry distribution chart, BrightSpire Capital ranks #42 out of 109 companies in the REITs industry, placing it in the top 38.5%.
Is BrightSpire Capital's Net Current Asset Value too high?
BrightSpire Capital's current Net Current Asset Value of $1.28 is 57% below median its 10-year median of 3.01. Over the past 10 years, this metric has ranged from a low of 1.38 to a high of 32.73. The REITs industry median Net Current Asset Value is 7.72. BrightSpire Capital's value of $1.28 is 83.4% below this industry median. Based on the distribution chart, BrightSpire Capital ranks #42 out of 109 companies in the REITs industry, which is above the industry midpoint. Overall, BrightSpire Capital has a GF Score™ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does BrightSpire Capital's Net Current Asset Value compare to IVR and TRTX?
According to the REITs industry distribution chart, BrightSpire Capital ranks #42 out of 109 companies for Net Current Asset Value. This puts BrightSpire Capital in the upper half of its industry. The industry median Net Current Asset Value is 7.72. BrightSpire Capital's value of $1.28 is 83.4% below this benchmark. Historically, BrightSpire Capital's own Net Current Asset Value has ranged from 1.38 to 32.73 over the past decade. While the company's 10-year median is 3.01 vs. the industry median of 7.72, BrightSpire Capital has consistently been below the industry average. 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 7.72, based on 109 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. BrightSpire Capital's current Net Current Asset Value of $1.28 is 83.4% below the industry median. 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 BrightSpire Capital and its competitors. For the REITs industry, the median Net Current Asset Value is 7.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BrightSpire Capital's current Net Current Asset Value is $1.28, which is 57% below median its own 10-year median of 3.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BrightSpire Capital stock overvalued right now?
Based on GuruFocus' analysis, BrightSpire Capital (BRSP) is currently considered Fairly Valued. The stock's GF Value™ is $5.47, compared to a current price of $5.33 — trading 2.6% below its estimated fair value. The current Net Current Asset Value is $1.28, which is 57% below median its 10-year median of 3.01 and 83.4% below the REITs industry median of 7.72. BrightSpire Capital's overall GF Score™ is 68/100 with 7 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 BrightSpire Capital (BRSP), the current Net Current Asset Value is $1.28 as of Mar. 2026. 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 BrightSpire Capital (BRSP) Overvalued in 2026?
Based on GuruFocus' analysis, BrightSpire Capital stock appears to be undervalued.
The current stock price of $5.33 is trading 2.6% below its estimated GF Value™ of $5.47.
GuruFocus considers BrightSpire Capital to be Fairly Valued.
Key valuation signals for BRSP:
Net Current Asset Value: $1.28 (57% below median its 10-year median of 3.01)
GF Value™: $5.47 vs. price of $5.33 (2.6% below fair value)
Industry Position: 83.4% below the REITs median (#42 of 109)
No single metric tells the full story. See the BRSP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BrightSpire Capital Inc is an internally-managed commercial real estate credit REIT focused on originating, acquiring, financing and managing a diversified portfolio of commercial real estate debt and net lease real estate investments predominantly in the United States. CRE debt investments consist of first mortgage loans with the objective of generating consistent risk-adjusted returns. The operating segments of the company are Senior and Mezzanine Loans and Preferred Equity, Net Leased and Other Real Estate, Corporate and Other. Geographically, the company generates revenue from the United States.
68GF Score
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