Pinetree CapitalFRA:PI1 +2.75%40 Net Current Asset Value is €4.54 as of Mar. 2026, which is 100% below its 10-year median of 4.54. GuruFocus rates FRA:PI1 with a GF Score™ of 40/100 and a GF Value™ of €0.16 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 370 Asset Management companies, Pinetree Capital ranks better than 74.59% 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).
Pinetree Capital's net current asset value per share for the quarter that ended in Mar. 2026 was €4.54.
The historical rank and industry rank for Pinetree Capital's Net Current Asset Value or its related term are showing as below:
FRA:PI1'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.16 Med: 4.54 Max: 63.22
Current: 1.29
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Pinetree Capital was 63.22. The lowest was 1.16. And the median was 4.54.
FRA:PI1's Price-to-Net-Current-Asset-Value is ranked better than 74.59% of 370
companies
in the Asset Management industry
Industry Median: 3.31
vs FRA:PI1: 1.29
Pinetree Capital (FRA:PI1) 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.
Pinetree Capital Net Current Asset Value Related Terms
Pinetree Capital Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Pinetree 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.
FRA:PI1 vs BLK, BX, KKR: Net Current Asset Value Comparison
For the Asset Management subindustry, Pinetree 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.
Pinetree Capital Price-to-Net-Current-Asset-Value vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Pinetree Capital's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Pinetree 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 €4.54 mean?
Pinetree Capital (FRA:PI1) has a Net Current Asset Value of €4.54 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 Pinetree Capital and its competitors. This is near median its historical median of 4.54. Over the past decade, Pinetree Capital's Net Current Asset Value has ranged from 1.16 to 63.22. According to the industry distribution chart, Pinetree Capital ranks #94 out of 370 companies in the Asset Management industry, placing it in the top 25.4%.
Is Pinetree Capital's Net Current Asset Value too high?
Pinetree Capital's current Net Current Asset Value of €4.54 is near median its 10-year median of 4.54. Over the past 10 years, this metric has ranged from a low of 1.16 to a high of 63.22. Based on the distribution chart, Pinetree Capital ranks #94 out of 370 companies in the Asset Management industry, which is above the industry midpoint. Overall, Pinetree Capital has a GF Score™ of 40/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pinetree Capital's Net Current Asset Value compare to BLK and BX?
According to the Asset Management industry distribution chart, Pinetree Capital ranks #94 out of 370 companies for Net Current Asset Value. This puts Pinetree Capital in the upper half of its industry. The industry median Net Current Asset Value is 3.31. Historically, Pinetree Capital's own Net Current Asset Value has ranged from 1.16 to 63.22 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 Asset Management company?
The median Net Current Asset Value among Asset Management companies is 3.31, based on 370 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 Pinetree Capital and its competitors. For the Asset Management industry, the median Net Current Asset Value is 3.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pinetree Capital's current Net Current Asset Value is €4.54, which is near median its own 10-year median of 4.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pinetree Capital stock overvalued right now?
Based on GuruFocus' analysis, Pinetree Capital (FRA:PI1) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.16, compared to a current price of €5.60 — trading 3400% above its estimated fair value. The current Net Current Asset Value is €4.54, which is near median its 10-year median of 4.54. Pinetree Capital's overall GF Score™ is 40/100 with 3 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 Pinetree Capital (FRA:PI1), the current Net Current Asset Value is €4.54 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 Pinetree Capital (FRA:PI1) Overvalued in 2026?
Based on GuruFocus' analysis, Pinetree Capital stock appears to be overvalued.
The current stock price of €5.60 is trading 3400% above its estimated GF Value™ of €0.16.
GuruFocus considers Pinetree Capital to be Significantly Overvalued.
Key valuation signals for FRA:PI1:
Net Current Asset Value: €4.54 (near median its 10-year median of 4.54)
GF Value™: €0.16 vs. price of €5.60 (3400% above fair value)
No single metric tells the full story. See the FRA:PI1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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