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First Ship Lease TrustFSLUF Net Current Asset Value is $0.01 as of Dec. 2025, which is 100% below its 10-year median of 3.00. The stock has 2 warning signs investors should review. Among 626 Business Services companies, First Ship Lease Trust ranks better than 72.84% 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).
First Ship Lease Trust's net current asset value per share for the quarter that ended in Dec. 2025 was $0.01.
The historical rank and industry rank for First Ship Lease Trust's Net Current Asset Value or its related term are showing as below:
FSLUF'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 2 Med: 3 Max: 7.9
Current: 2
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of First Ship Lease Trust was 7.90. The lowest was 2.00. And the median was 3.00.
FSLUF's Price-to-Net-Current-Asset-Value is ranked better than 72.84% of 626
companies
in the Business Services industry
Industry Median: 3.7
vs FSLUF: 2.00
First Ship Lease Trust (OTCPK:FSLUF) 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.
First Ship Lease Trust Net Current Asset Value Related Terms
First Ship Lease Trust Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for First Ship Lease Trust'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.
First Ship Lease Trust Net Current Asset Value Chart
FSLUF vs URI, SUNB, AER: Net Current Asset Value Comparison
For the Rental & Leasing Services subindustry, First Ship Lease Trust'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.
First Ship Lease Trust Price-to-Net-Current-Asset-Value vs Business Services Industry
For the Business Services industry and Industrials sector, First Ship Lease Trust's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where First Ship Lease Trust'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 $0.01 mean?
First Ship Lease Trust (FSLUF) has a Net Current Asset Value of $0.01 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on First Ship Lease Trust and its competitors. This is 100% below median its historical median of 3.00. Over the past decade, First Ship Lease Trust's Net Current Asset Value has ranged from 2.00 to 7.90. According to the industry distribution chart, First Ship Lease Trust ranks #170 out of 626 companies in the Business Services industry, placing it in the top 27.2%.
Is First Ship Lease Trust's Net Current Asset Value too high?
First Ship Lease Trust's current Net Current Asset Value of $0.01 is 100% below median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.90. The Business Services industry median Net Current Asset Value is 3.70. First Ship Lease Trust's value of $0.01 is 99.7% below this industry median. Based on the distribution chart, First Ship Lease Trust ranks #170 out of 626 companies in the Business Services industry, which is above the industry midpoint.
How does First Ship Lease Trust's Net Current Asset Value compare to URI and SUNB?
According to the Business Services industry distribution chart, First Ship Lease Trust ranks #170 out of 626 companies for Net Current Asset Value. This puts First Ship Lease Trust in the upper half of its industry. The industry median Net Current Asset Value is 3.70. First Ship Lease Trust's value of $0.01 is 99.7% below this benchmark. Historically, First Ship Lease Trust's own Net Current Asset Value has ranged from 2.00 to 7.90 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 3.70, First Ship Lease Trust 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 Business Services company?
The median Net Current Asset Value among Business Services companies is 3.70, based on 626 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. First Ship Lease Trust's current Net Current Asset Value of $0.01 is 99.7% 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 First Ship Lease Trust and its competitors. For the Business Services 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. First Ship Lease Trust's current Net Current Asset Value is $0.01, which is 100% below median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Ship Lease Trust stock overvalued right now?
First Ship Lease Trust (FSLUF) has a current Net Current Asset Value of $0.01. The stock's GF Value™ is $0.02, compared to a current price of $0.04 — trading 100% above its estimated fair value. The current Net Current Asset Value is $0.01, which is 100% below median its 10-year median of 3.00 and 99.7% below the Business Services industry median of 3.70. 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 First Ship Lease Trust (FSLUF), the current Net Current Asset Value is $0.01 as of Dec. 2025. 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.
First Ship Lease Trust is engaged in the shipping business. The trust acts as a shipowner and provider of leasing services to the international shipping industry. The group has one segment that is only involved in the leasing and chartering of vessels which is carried out in international waters. The company has 6 vessels chartered to an international shipping company on fixed-rate period bareboat charters.
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