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).
BSP:FESA4'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.89 Med: 5.95 Max: 54.9
Current: 5.58
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of CIA de Ferro Ligas da Bahia - Ferbasa was 54.90. The lowest was 1.89. And the median was 5.95.
BSP:FESA4's Price-to-Net-Current-Asset-Value is ranked worse than 71.82% of 369
companies
in the Steel industry
Industry Median: 2.94
vs BSP:FESA4: 5.58
CIA de Ferro Ligas da Bahia - Ferbasa (BSP:FESA4) 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.
CIA de Ferro Ligas da Bahia - Ferbasa Net Current Asset Value Related Terms
CIA de Ferro Ligas da Bahia - Ferbasa 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.
CIA de Ferro Ligas da Bahia - Ferbasa Net Current Asset Value Chart
BSP:FESA4 vs NUE, STLD, RS: Net Current Asset Value Comparison
For the Steel subindustry, CIA de Ferro Ligas da Bahia - Ferbasa'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.
CIA de Ferro Ligas da Bahia - Ferbasa Price-to-Net-Current-Asset-Value vs Steel Industry
For the Steel industry and Basic Materials sector, CIA de Ferro Ligas da Bahia - Ferbasa's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where CIA de Ferro Ligas da Bahia - Ferbasa'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 R$1.84 mean?
CIA de Ferro Ligas da Bahia - Ferbasa (BSP:FESA4) has a Net Current Asset Value of R$1.84 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 CIA de Ferro Ligas da Bahia - Ferbasa and its competitors. This is 69% below median its historical median of 5.95. Over the past decade, CIA de Ferro Ligas da Bahia - Ferbasa's Net Current Asset Value has ranged from 1.89 to 54.90. According to the industry distribution chart, CIA de Ferro Ligas da Bahia - Ferbasa ranks #265 out of 369 companies in the Steel industry, placing it in the top 71.8%.
Is CIA de Ferro Ligas da Bahia - Ferbasa's Net Current Asset Value too high?
CIA de Ferro Ligas da Bahia - Ferbasa's current Net Current Asset Value of R$1.84 is 69% below median its 10-year median of 5.95. Over the past 10 years, this metric has ranged from a low of 1.89 to a high of 54.90. Based on the distribution chart, CIA de Ferro Ligas da Bahia - Ferbasa ranks #265 out of 369 companies in the Steel industry, which is below the industry midpoint. Overall, CIA de Ferro Ligas da Bahia - Ferbasa has a GF Score™ of 68/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CIA de Ferro Ligas da Bahia - Ferbasa's Net Current Asset Value compare to NUE and STLD?
According to the Steel industry distribution chart, CIA de Ferro Ligas da Bahia - Ferbasa ranks #265 out of 369 companies for Net Current Asset Value. This places CIA de Ferro Ligas da Bahia - Ferbasa in the lower half of its industry. The industry median Net Current Asset Value is 2.94. Historically, CIA de Ferro Ligas da Bahia - Ferbasa's own Net Current Asset Value has ranged from 1.89 to 54.90 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 a Steel company?
The median Net Current Asset Value among Steel companies is 2.94, based on 369 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 CIA de Ferro Ligas da Bahia - Ferbasa and its competitors. For the Steel industry, the median Net Current Asset Value is 2.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CIA de Ferro Ligas da Bahia - Ferbasa's current Net Current Asset Value is R$1.84, which is 69% below median its own 10-year median of 5.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CIA de Ferro Ligas da Bahia - Ferbasa stock overvalued right now?
Based on GuruFocus' analysis, CIA de Ferro Ligas da Bahia - Ferbasa (BSP:FESA4) is currently considered Significantly Undervalued. The stock's GF Value™ is R$8.51, compared to a current price of R$5.91 — trading 30.6% below its estimated fair value. The current Net Current Asset Value is R$1.84, which is 69% below median its 10-year median of 5.95. CIA de Ferro Ligas da Bahia - Ferbasa's overall GF Score™ is 68/100 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 CIA de Ferro Ligas da Bahia - Ferbasa (BSP:FESA4), the current Net Current Asset Value is R$1.84 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 CIA de Ferro Ligas da Bahia - Ferbasa (BSP:FESA4) Overvalued in 2026?
Based on GuruFocus' analysis, CIA de Ferro Ligas da Bahia - Ferbasa stock appears to be undervalued.
The current stock price of R$5.91 is trading 30.6% below its estimated GF Value™ of R$8.51.
GuruFocus considers CIA de Ferro Ligas da Bahia - Ferbasa to be Significantly Undervalued.
Key valuation signals for BSP:FESA4:
Net Current Asset Value: R$1.84 (69% below median its 10-year median of 5.95)
GF Value™: R$8.51 vs. price of R$5.91 (30.6% below fair value)
No single metric tells the full story. See the BSP:FESA4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CIA de Ferro Ligas da Bahia - Ferbasa Business Description
CIA de Ferro Ligas da Bahia - Ferbasa produces ferroalloys, including chromium alloys and silicon ferroalloys. It operates in the areas of mining, reforestation, and metallurgy, offering high-carbon ferrochrome, low-carbon ferrochrome, and ferrosilicon. It also engages in the mining, forestry, metallurgy businesses.
68GF Score
Get the complete analysis for BSP:FESA4
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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