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).
Arrow Exploration's net current asset value per share for the quarter that ended in Mar. 2026 was £-0.04.
The historical rank and industry rank for Arrow Exploration's Net Current Asset Value or its related term are showing as below:
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Arrow Exploration was 48.00. The lowest was 1.55. And the median was 2.53.
LSE:AXL's Price-to-Net-Current-Asset-Value is not ranked *
in the Oil & Gas industry.
Industry Median: 3.84 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Arrow Exploration (LSE:AXL) 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.
Arrow Exploration Net Current Asset Value Related Terms
Arrow Exploration Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Arrow Exploration'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.
LSE:AXL vs COP, EOG, FANG: Net Current Asset Value Comparison
For the Oil & Gas E&P subindustry, Arrow Exploration'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.
Arrow Exploration Price-to-Net-Current-Asset-Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Arrow Exploration's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Arrow Exploration'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 £-0.04 mean?
Arrow Exploration (LSE:AXL) has a Net Current Asset Value of £-0.04 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 Arrow Exploration and its competitors. Over the past decade, Arrow Exploration's Net Current Asset Value has ranged from 1.55 to 48.00. According to the industry distribution chart, Arrow Exploration ranks #999999 out of 297 companies in the Oil & Gas industry.
Is Arrow Exploration's Net Current Asset Value too high?
Arrow Exploration's current Net Current Asset Value is £-0.04. Over the past 10 years, this metric has ranged from a low of 1.55 to a high of 48.00. Based on the distribution chart, Arrow Exploration ranks #999999 out of 297 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Arrow Exploration has a GF Score™ of 43/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Arrow Exploration's Net Current Asset Value compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Arrow Exploration ranks #999999 out of 297 companies for Net Current Asset Value. This places Arrow Exploration in the lower half of its industry. The industry median Net Current Asset Value is 3.84. Historically, Arrow Exploration's own Net Current Asset Value has ranged from 1.55 to 48.00 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 Oil & Gas company?
The median Net Current Asset Value among Oil & Gas companies is 3.84, based on 297 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 Arrow Exploration and its competitors. For the Oil & Gas industry, the median Net Current Asset Value is 3.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Arrow Exploration's current Net Current Asset Value is £-0.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arrow Exploration stock overvalued right now?
Based on GuruFocus' analysis, Arrow Exploration (LSE:AXL) is currently considered Modestly Undervalued. The stock's GF Value™ is £0.32, compared to a current price of £0.24 — trading 24.2% below its estimated fair value. The current Net Current Asset Value is £-0.04. Arrow Exploration's overall GF Score™ is 43/100 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 Arrow Exploration (LSE:AXL), the current Net Current Asset Value is £-0.04 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 Arrow Exploration (LSE:AXL) Overvalued in 2026?
Based on GuruFocus' analysis, Arrow Exploration stock appears to be undervalued.
The current stock price of £0.24 is trading 24.2% below its estimated GF Value™ of £0.32.
GuruFocus considers Arrow Exploration to be Modestly Undervalued.
Key valuation signals for LSE:AXL:
Net Current Asset Value: £-0.04
GF Value™: £0.32 vs. price of £0.24 (24.2% below fair value)
No single metric tells the full story. See the LSE:AXL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Arrow Exploration Corp is engaged in oil exploration, development and production, and the acquisition of oil and gas properties. The company operates in two reportable segment: Colombia and Canada. The company generates the majority of its revenue from Colombia. Some of the company's assets are Tapir Block, Capella Field, Oso Pardo, and Santa Isabel. The Canada segment of the company is referred to as the Corporate Segment. The company generates all of its revenue from oil and natural gas sales.
43GF Score
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