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NewLake Capital PartnersNLCP -0.45%83 Net Current Asset Value is $0.09 as of Mar. 2026, which is 99% below its 10-year median of 14.16. GuruFocus rates NLCP with a GF Score™ of 83/100 and a GF Value™ of $14.85 (Fairly Valued). The stock has 7 warning signs investors should review. Among 104 REITs companies, NewLake Capital Partners ranks worse than 90.38% 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).
NewLake Capital Partners's net current asset value per share for the quarter that ended in Mar. 2026 was $0.09.
The historical rank and industry rank for NewLake Capital Partners's Net Current Asset Value or its related term are showing as below:
NLCP'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 4.28 Med: 14.16 Max: 398.13
Current: 173.67
During the past 6 years, the highest Price-to-Net-Current-Asset-Value Ratio of NewLake Capital Partners was 398.13. The lowest was 4.28. And the median was 14.16.
NLCP's Price-to-Net-Current-Asset-Value is ranked worse than 90.38% of 104
companies
in the REITs industry
Industry Median: 7.485
vs NLCP: 173.67
NewLake Capital Partners (OTCPK:NLCP) 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.
NewLake Capital Partners Net Current Asset Value Related Terms
NewLake Capital Partners Net Current Asset Value Historical Data
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The historical data trend for NewLake Capital Partners'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.
NewLake Capital Partners Net Current Asset Value Chart
NLCP vs LAND, FPI, SELF: Net Current Asset Value Comparison
For the REIT - Specialty subindustry, NewLake Capital Partners'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.
NewLake Capital Partners Price-to-Net-Current-Asset-Value vs REITs Industry
For the REITs industry and Real Estate sector, NewLake Capital Partners's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where NewLake Capital Partners'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 $0.09 mean?
NewLake Capital Partners (NLCP) has a Net Current Asset Value of $0.09 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 NewLake Capital Partners and its competitors. This is 99% below median its historical median of 14.16. Over the past decade, NewLake Capital Partners' Net Current Asset Value has ranged from 4.28 to 398.13. According to the industry distribution chart, NewLake Capital Partners ranks #94 out of 104 companies in the REITs industry, placing it in the top 90.4%.
Is NewLake Capital Partners' Net Current Asset Value too high?
NewLake Capital Partners' current Net Current Asset Value of $0.09 is 99% below median its 10-year median of 14.16. Over the past 10 years, this metric has ranged from a low of 4.28 to a high of 398.13. The REITs industry median Net Current Asset Value is 7.49. NewLake Capital Partners' value of $0.09 is 98.8% below this industry median. Based on the distribution chart, NewLake Capital Partners ranks #94 out of 104 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, NewLake Capital Partners has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NewLake Capital Partners' Net Current Asset Value compare to LAND and FPI?
According to the REITs industry distribution chart, NewLake Capital Partners ranks #94 out of 104 companies for Net Current Asset Value. This places NewLake Capital Partners in the lower half of its industry. The industry median Net Current Asset Value is 7.49. NewLake Capital Partners' value of $0.09 is 98.8% below this benchmark. Historically, NewLake Capital Partners' own Net Current Asset Value has ranged from 4.28 to 398.13 over the past decade. While the company's 10-year median is 14.16 vs. the industry median of 7.49, NewLake Capital Partners 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 REITs company?
The median Net Current Asset Value among REITs companies is 7.49, based on 104 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. NewLake Capital Partners's current Net Current Asset Value of $0.09 is 98.8% 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 NewLake Capital Partners and its competitors. For the REITs industry, the median Net Current Asset Value is 7.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NewLake Capital Partners's current Net Current Asset Value is $0.09, which is 99% below median its own 10-year median of 14.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NewLake Capital Partners stock overvalued right now?
Based on GuruFocus' analysis, NewLake Capital Partners (NLCP) is currently considered Fairly Valued. The stock's GF Value™ is $14.85, compared to a current price of $15.63 — trading 5.3% above its estimated fair value. The current Net Current Asset Value is $0.09, which is 99% below median its 10-year median of 14.16 and 98.8% below the REITs industry median of 7.49. NewLake Capital Partners' overall GF Score™ is 83/100 with 7 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 NewLake Capital Partners (NLCP), the current Net Current Asset Value is $0.09 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 NewLake Capital Partners (NLCP) Overvalued in 2026?
Based on GuruFocus' analysis, NewLake Capital Partners stock appears to be overvalued.
The current stock price of $15.63 is trading 5.3% above its estimated GF Value™ of $14.85.
GuruFocus considers NewLake Capital Partners to be Fairly Valued.
Key valuation signals for NLCP:
Net Current Asset Value: $0.09 (99% below median its 10-year median of 14.16)
GF Value™: $14.85 vs. price of $15.63 (5.3% above fair value)
Industry Position: 98.8% below the REITs median (#94 of 104)
No single metric tells the full story. See the NLCP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NewLake Capital Partners Inc is an internally managed real estate investment trust (REIT) focused on providing real estate capital to state-licensed cannabis operators through sale-leaseback transactions, third-party purchases and funding for build-to-suit projects. properties are leased to single tenants on a long-term, triple-net basis, which obligates the tenant to be responsible for the ongoing expenses of a property, in addition to its rent obligations. Its tenants operate in the fast-growing cannabis industry.
83GF Score
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