Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
FairPlay Properties REITXBUL:FPP 72 Net Current Asset Value is €0.34 as of Mar. 2026, which is 100% below its 10-year median of 2.33. GuruFocus rates XBUL:FPP with a GF Score™ of 72/100 and a GF Value™ of €4.46 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 107 REITs companies, FairPlay Properties REIT ranks better than 72.9% 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).
FairPlay Properties REIT's net current asset value per share for the quarter that ended in Mar. 2026 was €0.34.
The historical rank and industry rank for FairPlay Properties REIT's Net Current Asset Value or its related term are showing as below:
XBUL:FPP'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.66 Med: 2.33 Max: 45
Current: 1.72
During the past 10 years, the highest Price-to-Net-Current-Asset-Value Ratio of FairPlay Properties REIT was 45.00. The lowest was 0.66. And the median was 2.33.
XBUL:FPP's Price-to-Net-Current-Asset-Value is ranked better than 72.9% of 107
companies
in the REITs industry
Industry Median: 7.95
vs XBUL:FPP: 1.72
FairPlay Properties REIT (XBUL:FPP) 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.
FairPlay Properties REIT Net Current Asset Value Related Terms
FairPlay Properties REIT Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for FairPlay Properties REIT'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.
FairPlay Properties REIT Net Current Asset Value Chart
XBUL:FPP vs VICI, WPC: Net Current Asset Value Comparison
For the REIT - Diversified subindustry, FairPlay Properties REIT'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.
FairPlay Properties REIT Price-to-Net-Current-Asset-Value vs REITs Industry
For the REITs industry and Real Estate sector, FairPlay Properties REIT's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where FairPlay Properties REIT'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 €0.34 mean?
FairPlay Properties REIT (XBUL:FPP) has a Net Current Asset Value of €0.34 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 FairPlay Properties REIT and its competitors. This is 85% below median its historical median of 2.33. Over the past decade, FairPlay Properties REIT's Net Current Asset Value has ranged from 0.66 to 45.00. According to the industry distribution chart, FairPlay Properties REIT ranks #29 out of 107 companies in the REITs industry, placing it in the top 27.1%.
Is FairPlay Properties REIT's Net Current Asset Value too high?
FairPlay Properties REIT's current Net Current Asset Value of €0.34 is 85% below median its 10-year median of 2.33. Over the past 10 years, this metric has ranged from a low of 0.66 to a high of 45.00. Based on the distribution chart, FairPlay Properties REIT ranks #29 out of 107 companies in the REITs industry, which is above the industry midpoint. Overall, FairPlay Properties REIT has a GF Score™ of 72/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does FairPlay Properties REIT's Net Current Asset Value compare to VICI and WPC?
According to the REITs industry distribution chart, FairPlay Properties REIT ranks #29 out of 107 companies for Net Current Asset Value. This puts FairPlay Properties REIT in the upper half of its industry. The industry median Net Current Asset Value is 7.95. Historically, FairPlay Properties REIT's own Net Current Asset Value has ranged from 0.66 to 45.00 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 a REITs company?
The median Net Current Asset Value among REITs companies is 7.95, based on 107 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 FairPlay Properties REIT and its competitors. For the REITs industry, the median Net Current Asset Value is 7.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FairPlay Properties REIT's current Net Current Asset Value is €0.34, which is 85% below median its own 10-year median of 2.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FairPlay Properties REIT stock overvalued right now?
Based on GuruFocus' analysis, FairPlay Properties REIT (XBUL:FPP) is currently considered Possible Value Trap. The stock's GF Value™ is €4.46, compared to a current price of €0.59 — trading 86.9% below its estimated fair value. The current Net Current Asset Value is €0.34, which is 85% below median its 10-year median of 2.33. FairPlay Properties REIT's overall GF Score™ is 72/100 with 2 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 FairPlay Properties REIT (XBUL:FPP), the current Net Current Asset Value is €0.34 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 FairPlay Properties REIT (XBUL:FPP) Overvalued in 2026?
Based on GuruFocus' analysis, FairPlay Properties REIT stock appears to be undervalued.
The current stock price of €0.59 is trading 86.9% below its estimated GF Value™ of €4.46.
GuruFocus considers FairPlay Properties REIT to be Possible Value Trap.
Key valuation signals for XBUL:FPP:
Net Current Asset Value: €0.34 (85% below median its 10-year median of 2.33)
GF Value™: €4.46 vs. price of €0.59 (86.9% below fair value)
No single metric tells the full story. See the XBUL:FPP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
FairPlay Properties REIT is a real estate investment trust. The company's portfolio consists of apartment complexes, hotels, commercial buildings, residential buildings, and offices among others. Some of its projects are Fodder Kitchen, Fodder Plant, Moderato Restaurant, Greenville Hotel and Apartment Houses, and others.
72GF Score
Get the complete analysis for XBUL:FPP
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
XBUL:FPP has been successfully added to your 
