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).
Fusion Antibodies's net current asset value per share for the quarter that ended in Sep. 2025 was £0.00.
The historical rank and industry rank for Fusion Antibodies's Net Current Asset Value or its related term are showing as below:
LSE:FAB'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.88 Med: 6.15 Max: 13.57
Current: 11
During the past 11 years, the highest Price-to-Net-Current-Asset-Value Ratio of Fusion Antibodies was 13.57. The lowest was 1.88. And the median was 6.15.
LSE:FAB's Price-to-Net-Current-Asset-Value is ranked worse than 76.56% of 943
companies
in the Biotechnology industry
Industry Median: 4.95
vs LSE:FAB: 11.00
Fusion Antibodies (LSE:FAB) 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.
Fusion Antibodies Net Current Asset Value Related Terms
Fusion Antibodies Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Fusion Antibodies'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:FAB vs VRTX, REGN, ALNY: Net Current Asset Value Comparison
For the Biotechnology subindustry, Fusion Antibodies'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.
Fusion Antibodies Price-to-Net-Current-Asset-Value vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Fusion Antibodies's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Fusion Antibodies'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 £0.00 mean?
Fusion Antibodies (LSE:FAB) has a Net Current Asset Value of £0.00 as of Sep. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Fusion Antibodies and its competitors. Over the past decade, Fusion Antibodies' Net Current Asset Value has ranged from 1.88 to 13.57. According to the industry distribution chart, Fusion Antibodies ranks #722 out of 943 companies in the Biotechnology industry, placing it in the top 76.6%.
Is Fusion Antibodies' Net Current Asset Value too high?
Fusion Antibodies' current Net Current Asset Value is £0.00. Over the past 10 years, this metric has ranged from a low of 1.88 to a high of 13.57. Based on the distribution chart, Fusion Antibodies ranks #722 out of 943 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Fusion Antibodies has a GF Score™ of 33/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fusion Antibodies' Net Current Asset Value compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Fusion Antibodies ranks #722 out of 943 companies for Net Current Asset Value. This places Fusion Antibodies in the lower half of its industry. The industry median Net Current Asset Value is 4.95. Historically, Fusion Antibodies' own Net Current Asset Value has ranged from 1.88 to 13.57 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 Biotechnology company?
The median Net Current Asset Value among Biotechnology companies is 4.95, based on 943 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 Fusion Antibodies and its competitors. For the Biotechnology industry, the median Net Current Asset Value is 4.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fusion Antibodies's current Net Current Asset Value is £0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fusion Antibodies stock overvalued right now?
Based on GuruFocus' analysis, Fusion Antibodies (LSE:FAB) is currently considered Significantly Overvalued. The stock's GF Value™ is £0.04, compared to a current price of £0.11 — trading 175% above its estimated fair value. The current Net Current Asset Value is £0.00. Fusion Antibodies' overall GF Score™ is 33/100 with 4 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 Fusion Antibodies (LSE:FAB), the current Net Current Asset Value is £0.00 as of Sep. 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.
Is Fusion Antibodies (LSE:FAB) Overvalued in 2026?
Based on GuruFocus' analysis, Fusion Antibodies stock appears to be overvalued.
The current stock price of £0.11 is trading 175% above its estimated GF Value™ of £0.04.
GuruFocus considers Fusion Antibodies to be Significantly Overvalued.
Key valuation signals for LSE:FAB:
Net Current Asset Value: £0.00
GF Value™: £0.04 vs. price of £0.11 (175% above fair value)
No single metric tells the full story. See the LSE:FAB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fusion Antibodies PLC is a Contract Research Organisation (CRO) providing antibody identification, engineering, and expression services for the discovery and development of antibodies for human and veterinary therapeutics, as well as for diagnostics. Its customers are pharmaceutical, biotech, veterinary, diagnostic, and life science research companies. The company's three core service areas include: Discovery (identification, screening, and sequencing of novel antibodies); Engineering (optimising the performance of antibodies); and Supply (production and purification of antibodies for further development). Geographically company generates the majority of its revenue from North America and the Rest of the World, followed by the United Kingdom and the Rest of Europe.
33GF Score
Get the complete analysis for LSE:FAB
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
LSE:FAB has been successfully added to your 
