FermiFRMI +1.86%14 Net Current Asset Value is $-0.73 as of Mar. 2026. GuruFocus rates FRMI with a GF Score™ of 14/100. The stock has 1 warning sign investors should review. Among 110 REITs companies, Fermi ranks worse than 909090% 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).
Fermi's net current asset value per share for the quarter that ended in Mar. 2026 was $-0.73.
The historical rank and industry rank for Fermi's Net Current Asset Value or its related term are showing as below:
During the past 1 years, the highest Price-to-Net-Current-Asset-Value Ratio of Fermi was 57.14. The lowest was 57.14. And the median was 57.14.
FRMI's Price-to-Net-Current-Asset-Value is not ranked *
in the REITs industry.
Industry Median: 7.96 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Fermi (NAS:FRMI) 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.
Fermi Net Current Asset Value Related Terms
Fermi Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Fermi'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.
Fermi Net Current Asset Value Chart
Fermi Annual Data
Trend
Dec25
Net Current Asset Value
0.14
Fermi Quarterly Data
Mar25
Jun25
Sep25
Dec25
Mar26
Net Current Asset Value
0.00
-0.09
-0.03
0.14
-0.73
FRMI vs OUT, RYN, EPR: Net Current Asset Value Comparison
For the REIT - Specialty subindustry, Fermi'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.
Fermi Price-to-Net-Current-Asset-Value vs REITs Industry
For the REITs industry and Real Estate sector, Fermi's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Fermi'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 $-0.73 mean?
Fermi (FRMI) has a Net Current Asset Value of $-0.73 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 Fermi and its competitors. Over the past decade, Fermi's Net Current Asset Value has ranged from 57.14 to 57.14. According to the industry distribution chart, Fermi ranks #999999 out of 110 companies in the REITs industry.
Is Fermi's Net Current Asset Value too high?
Fermi's current Net Current Asset Value is $-0.73. Over the past 10 years, this metric has ranged from a low of 57.14 to a high of 57.14. Based on the distribution chart, Fermi ranks #999999 out of 110 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Fermi has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does Fermi's Net Current Asset Value compare to OUT and RYN?
According to the REITs industry distribution chart, Fermi ranks #999999 out of 110 companies for Net Current Asset Value. This places Fermi in the lower half of its industry. The industry median Net Current Asset Value is 7.96. Historically, Fermi's own Net Current Asset Value has ranged from 57.14 to 57.14 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 REITs company?
The median Net Current Asset Value among REITs companies is 7.96, 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 Fermi and its competitors. For the REITs industry, the median Net Current Asset Value is 7.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fermi's current Net Current Asset Value is $-0.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fermi stock overvalued right now?
Fermi (FRMI) has a current Net Current Asset Value of $-0.73. The current Net Current Asset Value is $-0.73. Fermi's overall GF Score™ is 14/100 with 1 warning sign 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 Fermi (FRMI), the current Net Current Asset Value is $-0.73 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.
Fermi Inc building a private power campus for AI-centric customers, developing and leasing large-scale, grid-independent energy generation and high-performance computing facilities purpose-built for the hyperscale era. The company is also developing a private energy and site infrastructure platform across the campus to support multiple powered shell buildings and a diversified, integrated power supply, including private power generation and delivery infrastructure, substations, internal distribution networks, water and cooling systems, and other essential infrastructure. In addition to powered shell facilities, it may offer long-term ground leases to tenants that elect to construct their own powered shell facilities on land, with or without integrated power delivery.
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