NCS Multistage HoldingsNCSM +1.91%60 Net Current Asset Value is $25.62 as of Mar. 2026, which is 1138% above its 10-year median of 2.07. GuruFocus rates NCSM with a GF Score™ of 60/100 and a GF Value™ of $26.09 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 298 Oil & Gas companies, NCS Multistage Holdings ranks better than 75.17% 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).
NCS Multistage Holdings's net current asset value per share for the quarter that ended in Mar. 2026 was $25.62.
The historical rank and industry rank for NCS Multistage Holdings's Net Current Asset Value or its related term are showing as below:
NCSM'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.73 Med: 2.07 Max: 180.37
Current: 1.77
During the past 11 years, the highest Price-to-Net-Current-Asset-Value Ratio of NCS Multistage Holdings was 180.37. The lowest was 0.73. And the median was 2.07.
NCSM's Price-to-Net-Current-Asset-Value is ranked better than 75.17% of 298
companies
in the Oil & Gas industry
Industry Median: 3.865
vs NCSM: 1.77
NCS Multistage Holdings (NAS:NCSM) 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.
NCS Multistage Holdings Net Current Asset Value Related Terms
NCS Multistage Holdings Net Current Asset Value Historical Data
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The historical data trend for NCS Multistage 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.
NCS Multistage Holdings Net Current Asset Value Chart
NCSM vs QSEP, GEOS, STAK: Net Current Asset Value Comparison
For the Oil & Gas Equipment & Services subindustry, NCS Multistage 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.
NCS Multistage Holdings Price-to-Net-Current-Asset-Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, NCS Multistage Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where NCS Multistage 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 $25.62 mean?
NCS Multistage Holdings (NCSM) has a Net Current Asset Value of $25.62 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 NCS Multistage Holdings and its competitors. This is 1138% above median its historical median of 2.07. Over the past decade, NCS Multistage Holdings' Net Current Asset Value has ranged from 0.73 to 180.37. According to the industry distribution chart, NCS Multistage Holdings ranks #74 out of 298 companies in the Oil & Gas industry, placing it in the top 24.8%.
Is NCS Multistage Holdings' Net Current Asset Value too high?
NCS Multistage Holdings' current Net Current Asset Value of $25.62 is 1138% above median its 10-year median of 2.07. Over the past 10 years, this metric has ranged from a low of 0.73 to a high of 180.37. The Oil & Gas industry median Net Current Asset Value is 3.87. NCS Multistage Holdings' value of $25.62 is 562.9% above this industry median. Based on the distribution chart, NCS Multistage Holdings ranks #74 out of 298 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, NCS Multistage Holdings has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NCS Multistage Holdings' Net Current Asset Value compare to QSEP and GEOS?
According to the Oil & Gas industry distribution chart, NCS Multistage Holdings ranks #74 out of 298 companies for Net Current Asset Value. This places NCS Multistage Holdings in the top 25% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 3.87. NCS Multistage Holdings' value of $25.62 is 562.9% above this benchmark. Historically, NCS Multistage Holdings' own Net Current Asset Value has ranged from 0.73 to 180.37 over the past decade. While the company's 10-year median is 2.07 vs. the industry median of 3.87, NCS Multistage Holdings has consistently been above 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 an Oil & Gas company?
The median Net Current Asset Value among Oil & Gas companies is 3.87, based on 298 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. NCS Multistage Holdings's current Net Current Asset Value of $25.62 is 562.9% above 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 NCS Multistage Holdings and its competitors. For the Oil & Gas industry, the median Net Current Asset Value is 3.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NCS Multistage Holdings's current Net Current Asset Value is $25.62, which is 1138% above median its own 10-year median of 2.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NCS Multistage Holdings stock overvalued right now?
Based on GuruFocus' analysis, NCS Multistage Holdings (NCSM) is currently considered Significantly Overvalued. The stock's GF Value™ is $26.09, compared to a current price of $45.33 — trading 73.7% above its estimated fair value. The current Net Current Asset Value is $25.62, which is 1138% above median its 10-year median of 2.07 and 562.9% above the Oil & Gas industry median of 3.87. NCS Multistage Holdings' overall GF Score™ is 60/100 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 NCS Multistage Holdings (NCSM), the current Net Current Asset Value is $25.62 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 NCS Multistage Holdings (NCSM) Overvalued in 2026?
Based on GuruFocus' analysis, NCS Multistage Holdings stock appears to be overvalued.
The current stock price of $45.33 is trading 73.7% above its estimated GF Value™ of $26.09.
GuruFocus considers NCS Multistage Holdings to be Significantly Overvalued.
Key valuation signals for NCSM:
Net Current Asset Value: $25.62 (1138% above median its 10-year median of 2.07)
GF Value™: $26.09 vs. price of $45.33 (73.7% above fair value)
Industry Position: 562.9% above the Oil & Gas median (#74 of 298)
No single metric tells the full story. See the NCSM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NCS Multistage Holdings Inc is a provider of engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completion, and field development strategies. The company provides its products and services to E&P companies for use in onshore and offshore wells, predominantly those drilled with horizontal laterals in unconventional and conventional oil and natural gas formations. It also provides tracer diagnostics services and sells products for well construction including casing buoyancy systems, liner hanger systems and toe initiation sleeves, along with certain complementary products from third parties. The company operates in the United States, Canada and other countries, with the majority of its revenue generated from Canada.
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