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).
Bread Financial Holdings's net current asset value per share for the quarter that ended in Mar. 2026 was $0.00.
The historical rank and industry rank for Bread Financial Holdings's Net Current Asset Value or its related term are showing as below:
LTS:0HCR's Price-to-Net-Current-Asset-Value is not ranked *
in the Credit Services industry.
Industry Median: 2.14 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Bread Financial Holdings (LTS:0HCR) 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.
Bread Financial Holdings Net Current Asset Value Related Terms
Bread Financial Holdings Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Bread Financial Holdings'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.
Bread Financial Holdings Net Current Asset Value Chart
LTS:0HCR vs SLM, NNI, UPST: Net Current Asset Value Comparison
For the Credit Services subindustry, Bread Financial Holdings'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.
Bread Financial Holdings Price-to-Net-Current-Asset-Value vs Credit Services Industry
For the Credit Services industry and Financial Services sector, Bread Financial Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Bread Financial Holdings'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?
Bread Financial Holdings (LTS:0HCR) has a Net Current Asset Value of $0.00 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 Bread Financial Holdings and its competitors. According to the industry distribution chart, Bread Financial Holdings ranks #999999 out of 278 companies in the Credit Services industry.
Is Bread Financial Holdings' Net Current Asset Value too high?
Bread Financial Holdings' current Net Current Asset Value is $0.00. Based on the distribution chart, Bread Financial Holdings ranks #999999 out of 278 companies in the Credit Services industry, which is in the bottom quartile relative to peers. Overall, Bread Financial Holdings has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bread Financial Holdings' Net Current Asset Value compare to SLM and NNI?
According to the Credit Services industry distribution chart, Bread Financial Holdings ranks #999999 out of 278 companies for Net Current Asset Value. This places Bread Financial Holdings in the lower half of its industry. The industry median Net Current Asset Value is 2.14. 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 Credit Services company?
The median Net Current Asset Value among Credit Services companies is 2.14, based on 278 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 Bread Financial Holdings and its competitors. For the Credit Services industry, the median Net Current Asset Value is 2.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bread Financial Holdings'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 Bread Financial Holdings stock overvalued right now?
Based on GuruFocus' analysis, Bread Financial Holdings (LTS:0HCR) is currently considered Significantly Overvalued. The stock's GF Value™ is $56.80, compared to a current price of $96.82 — trading 70.5% above its estimated fair value. The current Net Current Asset Value is $0.00. Bread Financial Holdings' overall GF Score™ is 70/100 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 Bread Financial Holdings (LTS:0HCR), the current Net Current Asset Value is $0.00 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 Bread Financial Holdings (LTS:0HCR) Overvalued in 2026?
Based on GuruFocus' analysis, Bread Financial Holdings stock appears to be overvalued.
The current stock price of $96.82 is trading 70.5% above its estimated GF Value™ of $56.80.
GuruFocus considers Bread Financial Holdings to be Significantly Overvalued.
Key valuation signals for LTS:0HCR:
Net Current Asset Value: $0.00
GF Value™: $56.80 vs. price of $96.82 (70.5% above fair value)
No single metric tells the full story. See the LTS:0HCR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Formed by a combination of JCPenney's credit card processing unit and The Limited's credit card bank business, Bread Financial is a provider of private-label and co-branded credit cards, loyalty programs, and marketing services. The company's most financially significant unit is its credit card business that partners with retailers to jointly market Bread's credit cards to their customers. The company also retains a minority interest in spun-off LoyaltyOne, which operates the largest airline miles loyalty program in Canada and offers marketing services to grocery chains in Europe and Asia.
70GF Score
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Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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