Flexsteel IndustriesFLXS +0.14%63 Net Current Asset Value is $17.86 as of Mar. 2026, which is 600% above its 10-year median of 2.55. GuruFocus rates FLXS with a GF Score™ of 63/100 and a GF Value™ of $37.96 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 285 Furnishings, Fixtures & Appliances companies, Flexsteel Industries ranks worse than 54.39% 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).
Flexsteel Industries's net current asset value per share for the quarter that ended in Mar. 2026 was $17.86.
The historical rank and industry rank for Flexsteel Industries's Net Current Asset Value or its related term are showing as below:
FLXS'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.77 Med: 2.55 Max: 8.99
Current: 4.06
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Flexsteel Industries was 8.99. The lowest was 0.77. And the median was 2.55.
FLXS's Price-to-Net-Current-Asset-Value is ranked worse than 54.39% of 285
companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 3.7
vs FLXS: 4.06
Flexsteel Industries (NAS:FLXS) 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.
Flexsteel Industries Net Current Asset Value Related Terms
Flexsteel Industries Net Current Asset Value Historical Data
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The historical data trend for Flexsteel Industries'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.
Flexsteel Industries Net Current Asset Value Chart
FLXS vs HBB, LOVE, COOK: Net Current Asset Value Comparison
For the Furnishings, Fixtures & Appliances subindustry, Flexsteel Industries'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.
Flexsteel Industries Price-to-Net-Current-Asset-Value vs Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Flexsteel Industries's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Flexsteel Industries'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 $17.86 mean?
Flexsteel Industries (FLXS) has a Net Current Asset Value of $17.86 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 Flexsteel Industries and its competitors. This is 600% above median its historical median of 2.55. Over the past decade, Flexsteel Industries' Net Current Asset Value has ranged from 0.77 to 8.99. According to the industry distribution chart, Flexsteel Industries ranks #155 out of 285 companies in the Furnishings, Fixtures & Appliances industry, placing it in the top 54.4%.
Is Flexsteel Industries' Net Current Asset Value too high?
Flexsteel Industries' current Net Current Asset Value of $17.86 is 600% above median its 10-year median of 2.55. Over the past 10 years, this metric has ranged from a low of 0.77 to a high of 8.99. The Furnishings, Fixtures & Appliances industry median Net Current Asset Value is 3.70. Flexsteel Industries' value of $17.86 is 382.7% above this industry median. Based on the distribution chart, Flexsteel Industries ranks #155 out of 285 companies in the Furnishings, Fixtures & Appliances industry, which is below the industry midpoint. Overall, Flexsteel Industries has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Flexsteel Industries' Net Current Asset Value compare to HBB and LOVE?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Flexsteel Industries ranks #155 out of 285 companies for Net Current Asset Value. This places Flexsteel Industries in the lower half of its industry. The industry median Net Current Asset Value is 3.70. Flexsteel Industries' value of $17.86 is 382.7% above this benchmark. Historically, Flexsteel Industries' own Net Current Asset Value has ranged from 0.77 to 8.99 over the past decade. While the company's 10-year median is 2.55 vs. the industry median of 3.70, Flexsteel Industries has consistently been above 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 Furnishings, Fixtures & Appliances company?
The median Net Current Asset Value among Furnishings, Fixtures & Appliances companies is 3.70, based on 285 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. Flexsteel Industries's current Net Current Asset Value of $17.86 is 382.7% above 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 Flexsteel Industries and its competitors. For the Furnishings, Fixtures & Appliances industry, the median Net Current Asset Value is 3.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Flexsteel Industries's current Net Current Asset Value is $17.86, which is 600% above median its own 10-year median of 2.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Flexsteel Industries stock overvalued right now?
Based on GuruFocus' analysis, Flexsteel Industries (FLXS) is currently considered Significantly Overvalued. The stock's GF Value™ is $37.96, compared to a current price of $72.59 — trading 91.2% above its estimated fair value. The current Net Current Asset Value is $17.86, which is 600% above median its 10-year median of 2.55 and 382.7% above the Furnishings, Fixtures & Appliances industry median of 3.70. Flexsteel Industries' overall GF Score™ is 63/100 with 5 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 Flexsteel Industries (FLXS), the current Net Current Asset Value is $17.86 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 Flexsteel Industries (FLXS) Overvalued in 2026?
Based on GuruFocus' analysis, Flexsteel Industries stock appears to be overvalued.
The current stock price of $72.59 is trading 91.2% above its estimated GF Value™ of $37.96.
GuruFocus considers Flexsteel Industries to be Significantly Overvalued.
Key valuation signals for FLXS:
Net Current Asset Value: $17.86 (600% above median its 10-year median of 2.55)
GF Value™: $37.96 vs. price of $72.59 (91.2% above fair value)
Industry Position: 382.7% above the Furnishings, Fixtures & Appliances median (#155 of 285)
No single metric tells the full story. See the FLXS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Flexsteel Industries Inc is a United States-based company that manufactures, imports, and markets residential upholstered wooden furniture products. Its product offerings include sofas, loveseats, chairs, rockers, desks, tables, convertible bedding units, and bedroom furniture. The company's products are intended for use in home, office, hotel, healthcare, and other contract applications. A featured component in the company's upholstered furniture is the durable Blue Steel Spring. It operates in the business segment of Furniture products. The company's furniture products business involves the distribution of manufactured and imported products for residential markets.
63GF Score
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